Authigenic smoky quartz from the Famennian limestones at Łagów in the Holy Cross Mts

Inside smoky and black crystals of quartz from joint fractures in bituminous Famennian limestones at Łag6w in the Holy Cross. Mts, there occur inclusions containing variable amount of bituminous matter and aqueous solution of salts and gas. The occurrence of bitumen gives quartz its colour. The average temperatures of smoky quartz crystallization were c. 70oC, and of black quartz - c. 160-190OC. The veinlets of brown-black calcite, containing analogous inclusions, crystallized under similar conditions which revealed ., both minerals being connected with aqueous solutions containing dispersed droplets of bituminous matter

Comparative analysis of Java and Dart programming languages in terms of suitability for creating mobile applications

This paper presents the results of a comparative analysis of Java and Dart programming languages in terms of suitability for creating mobile applications. The research was carried out on two proprietary applications with identical functionalities, which were implemented in the analyzed languages. The analysis covers areas such as: CPU load, RAM consumption, battery consumption and program execution time. Additionally, on the basis of proprietary applications, the code structure, number of lines of code and community support were considered. The results of the analysis indicate that it is difficult to clearly determine which language is more efficient, so the choice between Java and Dart should be analytical and best suited to the requirements of a given application

Reformy wspierające wzrost zatrudnienia na Węgrzech w latach 2010-2013

Celem artykułu jest szczegółowe przedstawienie reform tworzących warunki dla wzrostu poziomu zatrudnienia, które zostały wprowadzone na Węgrzech w latach 2010-2013. Po zaprezentowaniu rezultatów wybranych przeprowadzonych dotychczas badań empirycznych oraz wynikających z nich rekomendacji dla kształtu polityki gospodarczej, zarysowano makroekonomiczny kontekst przeprowadzonych zmian. Następnie scharakteryzowano wprowadzone reformy z zakresu polityki rynku pracy, ubezpieczeń społecznych, a także systemu podatkowego. W podsumowaniu, omówiono dotychczasowe efekty prowadzonej polityki oraz wypływające z nich wnioski

Local banks in social media: determinants and consequences

In this study, we examine the determinants of social media adoption by local banks and its consequences. We use a unique dataset covering almost 600 local banks in Poland during the 2010–2016 period. This dataset contains information on the activity of local banks in social media, their financial performance and branch locations as well as the information on bank customers obtained from sociological surveys. We find the likelihood of social media adoption positively related to bank size and the technological and financial sophistication of clients. We show also that the impact of factors related to local competition is conditional on the performance of neighboring banks already present in social media. Finally, we establish that social media adoption helps local banks to defend their interest margins in the environment of low interest rates and intensifying competition. Therefore, our study suggests that social media can be used as a tool to develop a business model based on frequent interactions with clients and close relationships

Towards sustainable development: The role of directors' international orientation and their diversity for non‐financial disclosure

Drawing on resource dependency and upper echelons theories, we examine the relationship between directors' international orientation (IO) and the scope of non-financial disclosures (NFD) in a two-tier board structure. Evidence from a regression analysis on a sample of non-financial firms listed on the Warsaw Stock Exchange for the 2014–2018 period shows that the IO of supervisory board members significantly and positively impacts the scope of NFD. We also find that women with IO influence the scope of NFD, whereas accounting and finance experience decreases the focus on NFD elements, especially environmental information. The results imply that both the IO of the supervisory board and the bundle of characteristics facilitate the move toward sustainable development. The findings of our study should be of interest to companies, regulators and policymakers to integrate sustainability practices into their corporate strategies

Issuing Bonds, Shares or Staying Private? Determinants of Going Public in an Emerging Economy

The Warsaw Stock Exchange is one of Europe’s largest exchanges by the number of IPOs, although it retains features of a market in post-transition countries, including a relatively small size, shallowness and a weak institutional framework. In this study, we use a large dataset to explore firms’ decisions to issue equity on the main or alternative market and debt on the bond market. We observe that in general, larger, more profitable firms are more likely to go public, although in contrast to developed economies, these firms tend to be younger. Moreover, we find that current market valuation positively affects the decision to go public on the main market, and we establish that highly leveraged companies are more likely to issue either shares on the alternative market or bonds. At the same time, however, we observe that firms issuing shares on the alternative market are most likely to manipulate their profitability prior to going public

Identification of the demand curve and forecasts in subsequent periods using the Metropolis-Hastings algorithm

PURPOSE: The main purpose of the article is to identify the demand curve and to forecast demand in subsequent periods using the Metropolis-Hastings algorithm.DESIGN/METHODOLOGY/APPROACH: The Metropolis-Hastings algorithm belonging to the Markov Chain Monte Carlo was used to identify the demand curve and to forecast the demand in subsequent periods. This method consists in generating (drawing) a sample in accordance with the modified distribution and the possibility of rejecting a new sample in case of insufficient improvement of the quality index.FINDINGS: The results of the conducted research indicate that the presented solution of generating a sample in accordance with the modified distribution and the possibility of rejecting a new sample in the event of insufficient improvement of the quality index is effective in identifying and forecasting the demand.PRACTICAL IMPLICATIONS: The algorithm presented in the article can be used to forecast stays taking into account the product life curve.ORIGINALITY/VALUE: A novelty is the use of the Metropolis-Hastings algorithm to identify the demand curve and the forecast of demand in subsequent periods to determine the strategy of long-term products by analyzing the sales volume of the product.peer-reviewe

Market Discipline during Crisis: Evidence from Bank Depositors in Transition Countries

The Central European banking industry is dominated by foreign-owned banks. During the recent crisis, for the first time since the transition, foreign parent companies were frequently in worse financial conditions than their subsidiaries. This situation created a unique opportunity to study new aspects of depositor discipline. In this article, we investigate whether depositors flexibly accommodated to the changing sources of risk. We also analyse the informational foundations of depositors’ decisions. Using a comprehensive data set, we find that the recent crisis did not change the sensitivity of deposit growth rates to accounting risk measures. We establish that depositors’ actions were much more strongly influenced by press rumours concerning parent companies than by fundamentals, and that the impact of rumours on deposit growth rates was highly economically significant. Additionally, we document that public aid announcements were interpreted by depositors primarily as a confirmation of a parent company’s financial distress. Our results have important policy implications, as depositor discipline is usually the only viable and universal source of market discipline for banks in emerging economies