Importance of the Size of Local Government in Avoiding the Fiscal Distress – Empirical Evidence on Communes in Poland

Theoretical background: In the literature on finance there are findings which examine reasons for the fiscal distress of units of the public sector, including local governments. However, this distress might be differently defined. Therefore, it determines both the approach to identify this phenomenon and the types of explanatory variables. Nevertheless, in the field of the business sector in the econometric models concerning the financial distress the size of the unit is considered. In this case there are also some possibilities to apply the correct proxy variable. This results from the fact that the size of local government might determine its fiscal capability as well as the level and structure of expenditures, which affect fiscal distress.Purpose of the article: The aim of this paper is to examine the influence of the size of the local government on the probability of the decrease of the exposure to the fiscal distress.Research methods: The author reviewed the literature in the field of the fiscal distress and introduced a multi-criteria decision analysis as well as a logistic regression modelling to examine this. The research procedure also required the use of the linear ordering to construct the dependent variable of the fiscal distress in order to analyse the “size effect” on the fiscal distress.Main findings: Fiscal distress of local governments is a core issue, which should be constantly analysed. It depends on the financial, economic, social and even political aspects. To identify exposure to this distress the TOPSIS method can be used. However, the fiscal distress can be affected by the size of the unit, which influences lots of budgetary categories. Due to the specificity of dependent and independent variables in the econometric models the “size effect” might be represented through the level of the population or the assets. Using the ordinal logistic regression in the research, the authors should consider that this effect can differ between the units with the disparate exposure. So, the partial proportional odds models can be required. Thus, the growth of the size of the unit, measured by the population, increases the odds of reaching very low exposure to fiscal distress. Simultaneously, there are some other important issues which should be included in this type of research

Nowe materiały tzw. fazy wczesnopucharowej osadnictwa protoneolitycznego na Pomorzu

The article presents stone and pottery materials from Tanowo, site 3, near Szczecin, excavated in the years 1999-2002 (trench II). The materials represent the late phase o f proto-Neolithic occupation dated back to 3300-2900/2800 BC. An animal bone sample from settlement pit in trench II is dated back to 5170 +/- BP (Poz - 1385).The article presents stone and pottery materials from Tanowo, site 3, near Szczecin, excavated in the years 1999-2002 (trench II). The materials represent the late phase o f proto-Neolithic occupation dated back to 3300-2900/2800 BC. An animal bone sample from settlement pit in trench II is dated back to 5170 +/- BP (Poz - 1385)

Borealny Bolków. Nowe badania obozowisk mezolitycznych nad jeziorem Świdwie

New research of the Mesolithic camps in Bolków on Świdwie lake provided rich archaeological evidence, including that related to the oldest settlement of the Maglemose culture. The assemblages appeared in Świdwie lake area around 8800/8700 BP and they suggest connection with western Jutland

Materiały krzemienne ze Szczecina-Płoni, stanowisko 2

ANEK

Activity of Microfinance Institutions in the Period of the Global Financial Crisis

The article examines the models of microfinance institutions (MFIs) and some alterations in this field. The regional distribution of MFIs has been shown, as well as their main ties with the real economy against a background of commercial banks. The study also provide some findings on the influence of the financial crisis, which erupted in the late 2007, on the microfinance sector. Therefore, the author analyzed the literature and quantitative data in order to determine these relationships

Factors affecting the conclusion of an arrangement in restructuring proceedings: evidence from Poland

The EU Restructuring Directive (2019/1023) requires Member States to provide a preventive restructuring framework for financially distressed entities that remain viable or are likely to readily restore economic viability. The first step to a successful restructuring is the approval of an arrangement between the debtor and creditors. The main research objective of the article is to identify factors affecting the conclusion of an arrangement in restructuring proceedings. In the process of filtering companies initiating a restructuring procedure, these factors are seen as increasing the probability of concluding an arrangement between debtor and creditors. Moreover, an additional research objective is to construct a turnaround prediction model aimed at assessing the probability of a conclusion of an arrangement in restructuring proceedings. The study covered the companies in Poland for which restructuring proceedings opened between 2016 and 2021 ended with the approval of an arrangement, and a similar number of companies that failed to restructure successfully. Binary logistic regression was applied to achieve the aims of this study. The results show that two financial variables affected companies in terms of their chances to conclude the arrangement: the current ratio and return on assets were among the statistically significant indicators and they are characterized by higher values for debtors reaching the arrangement with their creditors. A direct positive relationship was also identified between the company’s lifespan and the outcome of the proceedings. The probability of the conclusion of the arrangement was also affected by the type of industry. Models assessing the probability of completing restructuring proceedings with an arrangement can be useful for insolvency practitioners and financial analysts during viability assessments.The EU Restructuring Directive (2019/1023) requires Member States to provide a preventive restructuring framework for financially distressed entities that remain viable or are likely to readily restore economic viability. The first step to a successful restructuring is the approval of an arrangement between the debtor and creditors. The main research objective of the article is to identify factors affecting the conclusion of an arrangement in restructuring proceedings. In the process of filtering companies initiating a restructuring procedure, these factors are seen as increasing the probability of concluding an arrangement between debtor and creditors. Moreover, an additional research objective is to construct a turnaround prediction model aimed at assessing the probability of a conclusion of an arrangement in restructuring proceedings. The study covered the companies in Poland for which restructuring proceedings opened between 2016 and 2021 ended with the approval of an arrangement, and a similar number of companies that failed to restructure successfully. Binary logistic regression was applied to achieve the aims of this study. The results show that two financial variables affected companies in terms of their chances to conclude the arrangement: the current ratio and return on assets were among the statistically significant indicators and they are characterized by higher values for debtors reaching the arrangement with their creditors. A direct positive relationship was also identified between the company’s lifespan and the outcome of the proceedings. The probability of the conclusion of the arrangement was also affected by the type of industry. Models assessing the probability of completing restructuring proceedings with an arrangement can be useful for insolvency practitioners and financial analysts during viability assessments

Czynniki Równowagi Fiskalnej Samorządu Terytorialnego: badanie danych panelowych dotyczące krajów OECD

Fiscal balance is perceived as a principal measure of fiscal sustainability in the local government. It also affects the budgetary response to a potential recession, determining a fiscal distress and a financial resilience. Thus, the economists conduct studies to identify factors influencing the fiscal balance at the local public level. Therefore, the aim of the paper is to examine fiscal, socio-economic, political, and institutional factors which affect the level of fiscal balance of the local government sector in Gross Domestic Product (GDP) on the basis of the OECD countries in the period 2007–2021. In the study both panel data models with fixed effects (FE) and random effects (RE), dynamic panel data models (GMM), as well as panel quantile regressions with fixed effects were estimated. As a result, the paper confirms that fiscal balance of the local government in GDP is affected by fiscal decentralisation on the expenditure side, an investment activity, a change in the debt ratio, an inflation, a change in the unemployment rate, the Human Development Index, the trade openness, the GDP growth, and local elections. What was also found was a statistically significant influence of the corruption in the case of the panel quantile regression with fixed effects. In addition, the Mann-Whitney U test, the Kruskal-Wallis test, and the Dunn test were applied to identify whether the level of fiscal balance of the local government sector in GDP had the same distribution in Central and Eastern European (CEE) countries and other OECD countries.Równowaga fiskalna postrzegana jest jako podstawowy miernik stabilności fiskalnej w samorządzie terytorialnym. Wpływa ona na reakcję budżetu na wypadek potencjalnej recesji, determinując zagrożenie fiskalne i odporność finansową. Stąd ekonomiści prowadzą badania w celu identyfikacji czynników oddziałujących na równowagę fiskalną na szczeblu lokalnym. Dlatego celem tego artykuły jest zbadanie czynników o charakterze fiskalnym, społeczno-ekonomicznym, politycznym i instytucjonalnym, które wpływają na poziom salda budżetowego w relacji do Produktu Krajowego Brutto (PKB) na podstawie krajów OECD w latach 2007–2021. W badaniu zastosowano modele panelowe z efektami stałymi oraz z efektami losowymi, dynamiczne modele panelowe (GMM) oraz kwantylową regresję panelową z efektami stałymi. W rezultacie potwierdzono, że na poziom salda budżetowego samorządu terytorialnego w relacji do PKB oddziałuje strona wydatkowa decentralizacji fiskalnej, aktywność inwestycyjna, zmiany wskaźnika zadłużenia, inflacja, zmiana stopy bezrobocia, Wskaźnik Rozwoju Społecznego, wymiana handlowa, wzrost PKB oraz wybory samorządowe. Ujawniono także statystyczną istotność wpływu korupcji w przypadku oszacowanych modeli kwantylowej regresji panelowej z efektami stałymi. Dodatkowo zastosowano testy statystyczne U Manna–Whitney’a, Kruskala–Wallisa oraz Dunna w celu zidentyfikowania różnic pomiędzy krajami Europy Środkowo-Wschodniej i pozostałymi państwami OECD pod względem rozkładu badanego salda budżetowego w PKB

Problematyka przestępstwa uporczywego nękania

This paper pictures the essence of the crime persistence harassment of fraud described in Article 190a of polish Criminal Code. This law regulations will be analysed aiming at show a comprehensions of meaning the terms used by legislator in this law regulations and also indication the problematic issues therein same mistake made by legislator when he constructed law regulations pertaining to crime of persistence harassment what makes that this law regulation includes some superfluous elements. Nonetheless elaborated law regulations should be deemed necessary despite of some mistakes.Niniejszy artykuł przedstawia istotę przestępstwa uporczywego nękania stypizowanego w art. 190a k.k. Regulacje te poddane zostają szczegółowej analizie, której celem jest wskazanie rozumienia poszczególnych pojęć użytych przez ustawodawcę w omawianych przepisach, a także wskazanie kwestii problematycznych, w tym popełnienie przez ustawodawcę błędów przy konstruowaniu regulacji dotyczących przestępstwa uporczywego nękania, co powoduje, że przepis zawiera pewne zbędne elementy. Nie mniej jednak omawiane regulacje pomimo pewnych błędów należy uznać za niezbędne

Optimization of animal detection in thermal images using YOLO architecture

The article presents research on animal detection in thermal images using the YOLOv5 architecture. The goal of the study was to obtain a model with high performance in detecting animals in this type of images, and to see how changes in hyperparameters affect learning curves and final results. This manifested itself in testing different values of learning rate, momentum and optimizer types in relation to the model's learning performance. Two methods of tuning hyperparameters were used in the study: grid search and evolutionary algorithms. The model was trained and tested on an in-house dataset containing images with deer and wild boars. After the experiments, the trained architecture achieved the highest score for Mean Average Precision (mAP) of 83\%. These results are promising and indicate that the YOLO model can be used for automatic animal detection in various applications, such as wildlife monitoring, environmental protection or security systems

Application of universal design principles in the creation of websites oriented toward visually impaired persons

The subject of this study is to show the impact that applying universal design principles has on everyday work with web content for people with visual impairments. The first part of the study is an experiment using an eye tracker, comparing the effects of using high contrast or changing the font size on the subjects' efficiency in performing simple tasks. The second part of the study is a survey comparing the feelings of using a website strictly compliant with universal design principles and its counterpart containing noticeable errors. The eye tracking results were analyzed to assess time to first fixation, average fixation time, and time spent on a designated area of interest. The results indicate an increase in efficiency and comfort with digital content designed according to universal design principles