FUNDUSZE INWESTYCYJNE JAKO ALTERNATYWNA FORMA LOKOWANIA OSZCZĘDNOŚCI

Fundusze Inwestycyjne to forma wspólnego inwestowania polegająca na zbiorowym lokowaniu środków pieniężnych. W Polsce zgodnie z ustawą o funduszach inwestycyjnych są onezarządzane przez Towarzystwa Funduszy Inwestycyjnych w formie spółek akcyjnych. W większości przypadków TFI należą do największych banków. Można wyróżnić cztery podstawowe grupy funduszy inwestycyjnych: fundusze akcji, fundusze hybrydowe, fundusze papierów dłużnych, fundusze gotówkowe i rynku pieniężnego. Istotnymi uczestnikami rynku finansowego są gospodarstwa domowe, czyli tzw. inwestorzy indywidualni. Gospodarstwa domowe mają szeroki wybór różnych form lokowania swoich oszczędności – depozyty bankowe, akcje, obligacje, nieruchomości, jednostki uczestnictwa w funduszach inwestycyjnych lub utrzymywanie gotówki. W ostatnim czasie nastąpił wyraźny wzrost zainteresowania gospodarstw domowych funduszami inwestycyjnymi będący efektem obniżek stóp procentowych przez Radę Polityki Pieniężnej. Największą popularnością w ostatnim czasie cieszą się fundusze gotówkowe i pieniężne, a także fundusze dłużne. Do głównych zalet inwestowania w fundusze należą: bezpieczeństwo, elastyczność, porównywalność i transparentność. Fundusze nie mają żadnych barier wejścia i wyjścia, są tanie i proste w obsłudze. Mogą stanowić całkiem dobrą alternatywę wobec lokat bankowych

Cashless Payments and Economic Growth in Selected European Countries

Purpose of the article: The aim of the paper was to show connections between the instruments of cashless payments and economic growth. The goal was to find the answers to the following research questions: What is the current share of payments with the use of particular forms of cashless payments in total payments?; What forms of cashless payments are connected with economic growth measured by real GDP per capita in the group of countries of Central and Eastern Europe and Western Europe?; What is the relation between the value of cashless payments and economic growth measured by real GDP per capita in the group of countries of Central and Eastern Europe and Western Europe?Research methods: Spearman’s rank correlation.Research results: The authors have found that the highest share in terms of the number of payments in total payments in the countries of Central and Eastern Europe constituted payments with the use of payment cards, then, the payments with the use of a transfer order. Whereas, in the countries of Western Europe, apart from the fact that high percentage of payments in total constituted payments with the use of payment cards and transfer orders, more and more payments are made with the use of the instruments of e-money. Examining mutual relationships, information about correlational connections that occur between economic growth measured by GDP per capita and value of payments with the use of some instruments of cashless payments was obtained. The main conclusion that can be drawn after data analysis is positive relationships between the value of payments with the use of a transfer order, payment card and economic growth found both in the countries of Central and Eastern Europe and the countries of Western Europe. In the countries of Western Europe, the payments with the use of a direct debit turned out to be insignificant, whereas the payments with the use of instruments of e-money were significant. Taking into account the force of relationships, it can be said that higher positive correlation is shown by the value of payments with the use of a transfer order with reference to real GDP per capita in the countries of Western Europe (0.80). In the countries of Central and Eastern Europe, it is only 0.48. Mutual connections between the value of payments with the use of payment cards and economic growth are similar in both groups of countries. What is interesting, high impact on real GDP per capita – about 0.80 – is shown by the payments with the use of instruments of e-money. This study may represent a contribution to further research, that is, an analysis of cause-and-effect relationships in the field of cashless payments and economic growth, including division of countries in terms of, for example, the level of wealth.Added value: Analysis of current literature on the impact of cashless payments on economic growth and an empirical analysis.Purpose of the article: The aim of the paper was to show connections between the instruments of cashless payments and economic growth. The goal was to find the answers to the following research questions: What is the current share of payments with the use of particular forms of cashless payments in total payments?; What forms of cashless payments are connected with economic growth measured by real GDP per capita in the group of countries of Central and Eastern Europe and Western Europe?; What is the relation between the value of cashless payments and economic growth measured by real GDP per capita in the group of countries of Central and Eastern Europe and Western Europe?Research methods: Spearman’s rank correlation.Research results: The authors have found that the highest share in terms of the number of payments in total payments in the countries of Central and Eastern Europe constituted payments with the use of payment cards, then, the payments with the use of a transfer order. Whereas, in the countries of Western Europe, apart from the fact that high percentage of payments in total constituted payments with the use of payment cards and transfer orders, more and more payments are made with the use of the instruments of e-money. Examining mutual relationships, information about correlational connections that occur between economic growth measured by GDP per capita and value of payments with the use of some instruments of cashless payments was obtained. The main conclusion that can be drawn after data analysis is positive relationships between the value of payments with the use of a transfer order, payment card and economic growth found both in the countries of Central and Eastern Europe and the countries of Western Europe. In the countries of Western Europe, the payments with the use of a direct debit turned out to be insignificant, whereas the payments with the use of instruments of e-money were signifiant. Taking into account the force of relationships, it can be said that higher positive correlation is shown by the value of payments with the use of a transfer order with reference to real GDP per capita in the countries of Western Europe (0.80). In the countries of Central and Eastern Europe, it is only 0.48. Mutual connections between the value of payments with the use of payment cards and economic growth are similar in both groups of countries. What is interesting, high impact on real GDP per capita – about 0.80 – is shown by the payments with the use of instruments of e-money. This study may represent a contribution to further research, that is, an analysis of cause-and-effect relationships in the field of cashless payments and economic growth, including division of countries in terms of, for example, the level of wealth.Added value: Analysis of current literature on the impact of cashless payments on economic growth and an empirical analysis

Determinanty obrotu bezgotówkowego w krajach Unii Europejskiej

Zagadnienie dotyczące uwarunkowań obrotu bezgotówkowego jest szczególnie ważne z punktu widzenia zaspokojenia potrzeb konsumentów, ale także dla rozwoju obrotu bezgotówkowego. Korzystanie z usług płatniczych przez konsumentów pozwala na zaspokojenie potrzeb finansowych, będących we współczesnej gospodarce potrzebami podstawowymi. Dostęp do szerokiej oferty usług finansowych dzięki finansyzacji relacji społecznych uważany jest za kluczowy czynnik dobrobytu konsumentów. Wzrost użyteczności z konsumpcji dóbr i usług, a także z korzystania z danej formy płatności powoduje wzrost ich dobrobytu. Ponadto decyzje o wykorzystaniu przez członków gospodarstw domowych bezgotówkowych form płatności są ważnym „ogniwem w drzewie decyzyjnym mikrofinansów”, które wywodzą się z nurtu instytucjonalnego finansów. Jedną z przesłanek do poszukiwania czynników determinujących obrót bezgotówkowy w „starych” i „nowych” krajach Unii Europejskiej jest kluczowa różnica, polegająca na tym, że poszczególne kraje Wspólnoty znajdują się na różnym etapie rozwoju obrotu bezgotówkowego. Różnica ta wynika chociażby z tego, że w krajach tzw. „starej piętnastki” liczba transakcji instrumentami płatniczymi przypadająca na 1 mieszkańca na ogół jest wyższa niż w „nowych” państwach UE. Autorka dysertacji oczekiwała, że wśród czynników objaśniających obrót bezgotówkowy mierzony transakcjami kartami płatniczymi, tj. wartością i liczbą znajdą się determinanty wspólne dla państw będących na podobnym poziomie pod względem rozwoju obrotu bezgotówkowego. Głównym celem rozprawy była identyfikacja i ocena czynników ekonomicznych oraz pozaekonomicznych determinujących korzystanie z płatności bezgotówkowych przez konsumentów oraz ich empiryczna weryfikacja w ujęciu mikro- i makroskali w latach 2004–2018. Przyjęto hipotezę główną o następującej treści: w „starych” i „nowych” krajach Unii Europejskiej rozwój obrotu bezgotówkowego, w szczególności z wykorzystaniem kart płatniczych warunkują oddziałujące z różną siłą determinanty ekonomiczne, socjodemograficzne, kulturowe i czynniki związane z infrastrukturą płatniczą

Remote work and its consequences for the employee in the time of the Covid-19 pandemic

PURPOSE: The aim of this article is to present the results of preliminary research on the perception of remote work and its consequences for employees in Poland during the Covid-19 pandemic. The study tried to show that the limitations and social distance resulting from the pandemic changed office work into remote work.DESIGN/METHODOLOGY/APPROACH: The research was conducted with the use of the CAWI technique, i.e., a survey method, consisting of 1022 respondents. The study was carried out in the spring of 2021, when the Minister of Health in Poland called on employers to use remote work as widely as possible. The sample selection was random.FINDINGS: The results show how the form of work has changed in times of constraints and distance, which indicates the impact of the coronavirus pandemic on employee behavior.PRACTICAL IMPLICATIONS: The obtained research results may provide hints for further actions and changes in the labor market after the Covid-19 period. Before the coronavirus pandemic, remote work was a privilege, in the age of the pandemic it became a necessity, and in the future, it may be one of the benefits for employees who will want. Research shows that there will be employees who will prefer to work in a hybrid system, combining remote work from home and the possibility of going to the office. It is also necessary to reconsider the benefits and risks of remote work from both the enterprise and employees.ORIGINALITY/VALUE: The presented results complement the extensive research conducted in the world on the impact of the Covid-19 on remote work. The study was aimed at filling the research gap in Poland.peer-reviewe

SOCIO-DEMOGRAPHIC FACTORS AND THE ‘UNBANKING’ OF POLISH SOCIETY

The aim of the study was to assess the degree of advancement of non-cash trade among Polish residents/consumers and to determine the relationship between socio-demographic factors and Poles’ ‘unbankedness’. The assessment of the degree of advancement of the society’s non-cash turnover was made by means of three levels of ‘unbanking’ defined by the author of the study. On the basis of the literature review, a research hypothesis was formulated: there is a statistically significant relationship between socio-demographic characteristics and consumers’ unbankedness. The research hypothesis was verified based on the results of our research using a survey questionnaire conducted in October/November 2019 on a sample of 500 adult Poles (18 years and older). The results of the empirical study generally confirmed the statistically significant influence of sociodemographic characteristics on the level of Polish people’s unbankedness. Age, education level, netincome per capita, and type of work performed ’significantly impact the Polish population’s banking level. Variables such as gender and place of residence were found to be statistically insignificant. The study showed that 10% of the surveyed population were unbanked, while as many as 87.20% represented level 3 (full banking). The problem of transactional exclusion affects young people aged 18-24 and older people over 61. The unbanked group consisted mainly of farmers, unskilled workers, the unemployed and pensioners, while level 3 mainly included office workers, white-collar workers and skilled workers. The least exclusion is found in people of working age 25-44. People in this age bracket accounted for more than 40 per cent of the share within level 3. As educational attainment increases, people move to higher and higher levels in terms of ‘bankedness’. The research showed that the higher the net income per person, the higher the level of bankedness among Poles. The results of the study complement previous analyses and point to proposed actions for institutions promoting non-cash transactions in Polish society

Humidity-Dependent Reversible Transitions in Gold Nanoparticle Superlattices

The changes in interparticle spacing upon hydration and dehydration of drop-cast films of hydrophilic gold nanoparticles (GNP) have been measured in situ with nanometer resolution using WetSTEM and ESEM. These subtle variations correlate well with the corresponding changes in the optical spectra and perceived color as well as changes in the electrical conductivity of the films. AC impedance analysis allows us to differentiate between resistive and capacitive components and to evaluate how these depend on average particle spacing and the water content of the matrix, respectively. Thin films of this type are well-known structures used for development of sensors and diagnostics

Jak zielony ład oddziałuje na zarządzanie finansami podmiotów agrobiznesu?

Celem opracowania jest próba odpowiedzi na pytanie, w jaki sposób zielony ład może oddziaływać na zarządzanie finansami podmiotów agrobiznesu, czyli obszaru gospodarczego zorientowanego na wytwarzanie finalnych produktów żywnościowych. Takie ujęcie pozwala na wskazanie licznych interakcji podmiotów agrobiznesu ze środowiskiem przyrodniczym i społecznym na obszarach wiejskich. W rozdziale przedstawiono istotę zrównoważenia w odniesienia do podmiotów agrobiznesu, dokonano przeglądu inicjatyw legislacyjnych i politycznych związanych z oddziaływaniem Europejskiego Zielonego Ładu (EZŁ) na sektor rolno-żywnościowy. Wartość dodaną opracowania stanowi próba zidentyfikowania narzędzi wspomagających podmioty agrobiznesu realizację celów wynikających z EZŁ