Good governance and territorial marketing – two sides of the same coin? Development of market orientation through governance mechanisms in local government.

The scope of the paper is to discuss the role of good governance in improving responsiveness of local government to the needs of the selected target markets (investors, tourists, students). The criteria of good governance and governance indicators are analysed with regard of their applicability in building customer orientation of local authorities i.e. increasing market intelligence, disseminating knowledge about current and prospect users of the territory and fostering organizational culture conducive of gathering, sharing and applying market information for satisfying local demand. The objective is to assess usefulness of governance mechanisms in improving marketing management process (i.e. analysis, planning, implementation and control) of the local authorities towards selected groups of target customers (investors, tourists, students). The paper will create the analytical framework for the future research in selected Polish cities. The main good governance rules will be tested both from the governors’ perspectives and from the customer one. The issues below should be taken into consideration n terms of governors’ performance: • focusing on the organisation’s purpose and on outcomes for citizens and service users • performing effectively in clearly defined functions and roles • promoting values for the whole organisation and demonstrating the values of good governance through behaviour • taking informed, transparent decisions and managing risk • developing the capacity and capability of the governing body to be effective • engaging stakeholders and making accountability real Different approaches to public service quality at the operational level and territorial marketing at the strategic level as well as methodologies of measuring governance will be taken into account as a theoretical background.

Nature and determinants of productivity growth of foreign subsidiaries in Central and East European countries

The paper examines the determinants of productivity growth in foreign manufacturing subsidiaries in five Central and East European (CEE) countries by analysing patterns of control, nature of firms' capabilities and firms' market orientation. Building on the so called 'developmental subsidiaries' perspective we show that productivity growth is determined jointly by corporate governance, production capability and market orientation variables. CEE subsidiaries have relatively strong autonomy over control of their business functions, but within a dominantly production oriented mandate. Majority foreign equity share has a significant and positive impact on subsidiaries' productivity growth. These results present very strong regional characteristic

The Use Of EU Structural Funds By Enterprises In The Lodz Region

The direct study was conducted in 2011. It focused on micro-economic projects supported by EU funds in the Lodz region. Interviews were conducted with representatives of 80 enterprises, which had completed at least one such a project. We conclude that the subsidies from structural funds have positively stimulated the modernization of the companies, albeit on a limited scale.Z przeprowadzonych analiz wynika, że dla wielu badanych przedsiębiorstw fundusze unijne stanowiły ważne źródło finansowania inwestycji i walki o rynkowe sukcesy. Tym niemniej, ze względu na bardzo ograniczoną liczbę i małą wartość projektów nie da się nimi ułatwić rozwoju przedsiębiorstw i regionu w szerszej skali

Corporate control in Central Europe and Russia : should banks own shares?

The authors review corporate governance arrangements in the West and conclude that for a system based on bank ownership and control of firms to succeed, the banking system must be free of perverse incentives and state interference, as well as subject to adequate supervision by banking authorities and competition from market forces. Admirable progress over the past few years notwithstanding, these conditions do not now exist in the countries of Central Europe and Russia, so a corporate governance system based on bank ownership is not appropriate. That is not to say that such a system would not eventually be appropriate - but not before much more effort is made to create a competitive, private, well-supervised banking system (which is needed in any case). Changes in the banking system that are prerequisites for any large-scale bank involvement in the ownership and governance of firms are simple to enunciate but less easy to implement: (1) Sever existing relationships between the state and banks. Privatization is the strongest guarantee that bank investment decisions will not be subject to state influence, but bank privatization has been slow in most countries. This reflects limited understanding of the financial sector's poor condition, the many institutional and political obstacles to bank reform, and the initial decision in many countries to focus first on the"real economy"(a decision that in hindsight seems unfortunate). (2) Dispel the belief (which still exists in some countries) that poor lending and investments will enventually be underwritten by the government, with few consequences for managers. (3) Greatly strengthen competition in the banking system, in part by encouraging new private banks and the entry of foreign banks. (Some countries, such as Poland, have taken the opposite tack, refusing to issue new licenses.) (4) Provide effective bank supervision and an effective prudential and regulatory framework. This requires investing substantially in setting up institutions, accounting systems, and information networks, in hiring and training qualified personnel, and in ensuring that the system is immune from political intervention. Developing such a system will surely be long and drawn out, and may require foreign assistance.Banks&Banking Reform,Payment Systems&Infrastructure,Financial Intermediation,Financial Crisis Management&Restructuring,International Terrorism&Counterterrorism,Financial Intermediation,Financial Crisis Management&Restructuring,Municipal Financial Management,Small Scale Enterprise,Banks&Banking Reform

Microeconomic Aspects of Economic Growth in Eastern Europe and the Former Soviet Union, 1950-2000

The theme of this paper is the microeconomics of economic growth in Central and Eastern Europe (CEE) and the Newly Independent States (NIS) over the period 1950-2000. The key structural change in this region is the end of the socialist regime in 1989 and 1992, and the subsequent attempt at transition to a market economy. We begin the paper with an examination of the key legacies from the socialist period. We then examine the key microeconomic actors in transition economies: households, enterprises, and government officials. Although there are many common processes at work, differences in economic performance tend to coincide with the geographical divide. Legacies play an important part. We also argue that differences in openness also plays an important role in generating different outcomes. These factors, combined with defects in the political and legal system, have given rise to a vicious circle of resistance to reform in the NIS.http://deepblue.lib.umich.edu/bitstream/2027.42/39732/3/wp348.pd

Innovation Performance in Poland and Polish Companies

The goal of this paper is to analyse the current innovation situation of Poland's economy and Polish companies in comparison to EU countries. The article presents also results of survey on investing in innovations in large Polish companies.Wciąż najbardziej innowacyjnymi przedsiębiorstwami w Polsce są duże przedsiębiorstwa, co wynikać może przede wszystkim ze znacznej ilości środków finansowych na tego typu działania. Niemniej jednak, to właśnie sektor MSP jest sektorem dominującym w polskiej gospodarce i to właśnie jego aktywność innowacyjną powinno się pobudzać

What drives export performance of firms in Eastern and Western Poland?

We use a unique firm-level survey dataset that draws from the EFIGE (European Firms In Global Economy) questionnaire, to unveil differences in factors driving export performance in structurally most diverse areas of Poland. While conventional results about the role of size, foreign ownership and innovation activity are confirmed at the aggregate level, the picture breaks down when Western and Eastern macroregions are extracted. Our results suggest that the common perception of a more developed West (Poland “A”) and a backward East (Poland “B”) might be outdated. Rather, firms in both regions seem to follow distinct strategies and have dissimilar success factors for competing internationally. Interestingly, export performance in the East is found to benefit from family ties in business, but also product innovation and non-price competitiveness. In the West, it is in turn associated mostly with size and foreign ownership. Overall, our results on the one hand add support to the ‘New’ new trade theory and ‘New’ new economic geography’s premises related to the importance of microeconomic factors and, on the other, shed a new light on the pattern of regional development in Poland. We also discuss some implications for policy makers and managers and suggest directions of further research.National Science Centre, grant no. DEC-2011/03/D/HS4/0195

Opportunities For Funding Innovation

equity, business angels and the NewConnect market, and describes the possibilities of using them. The article stresses that firms seeking capital to grow through innovation can use a wide range of financing options as long as their projects are underpinned by solid documentation, have a specified time horizon, and are attractive for investdors.W artykule zaprezentowano pogląd, że konkurencyjność firmy należy upatrywać przede wszystkim w zdolności do bycia innowacyjnym. Wskazano na stymulatory aktywności firm i efekty z tytułu realizacji innowacji. Przede wszystkim zwrócono uwagę na źródła i formy pozyskiwania kapitału na ich urzeczywistnienie. Szczególną uwagę poświęcono leasingowi, venture capital, private equity, aniołom biznesu i NewConnect. Podkreślono, że istnieje szeroka paleta tych ofert dla firm potrzebujących kapitału na rozwój poprzez innowacje. Jednakże pod warunkiem, że projekty te będą dobrze udokumentowane, określony będzie horyzont czasowy ich wykonalności i będą stanowiły atrakcyjne wyzwanie dla inwestorów