Green corporate social responsibility on the capital market - can eco-responsibility be profitable?

Purpose: The hereby thesis aims at an analysis of the effectiveness of green CSR on the fi nancial market and, more precisely, eco-ethical SRI investments in the form of investment funds and stock market indices. The studies presented will be correlated to research hypotheses regarding SRI portfolios. Methodology: The paper was written after an in-depth analysis of the literature of the subject, thereby applying the literature review research method, focused mainly on studies measuring the efficiency eco-ethical investing on the example: investment funds and stock market indices. Findings: The results show that green CSR can lead to gains for the investors, outperforming the benchmarks. The conclusion is made with a high degree of distrust but if “gains” are understood as the totality of benefi ts for the investor, the thesis becomes more certain. CSR and SRI have a number of other advantages, such as reduction of investment risk or improvement of the image and the natural environment. According to scientists, there is usually no diff erence between the viability of eco-ethical and traditional investments, what confi rms the “no effect” hypothesis. Implications/limitations: The paper presents eff ectiveness of eco-ethical investments in the light of scientific literature and ma y constitute a basis for further research. In addition, the author suggested specific directions for future analysis. The paper may have its weak points, referring to comparative analysis of studies by different authors which, due to multifarious guidelines, e.g. sample size, time horizon, are sometimes diff icult to be confronted with one another. Originality: The activity of financial institutions has an undisputed ecological dimension. Therefore, when making investment decisions, it is advised to take environmental factors into consideration. The number of researches referring to the eff iciency of SRI investments, mainly those ecologically oriented, is not that large – especially in Poland. Moreover, the aim of the author was to present the most geographically and temporally diverse ranges of analyses possible. Therefore, this article can be valuable for further research

THE GREEN BOND AS A PROSPECTIVE INSTRUMENT OF THE GLOBAL DEBT MARKET

Green debt is viewed as one of the youngest segments on the global financial market. Green bonds were defined as fixed-income securities, issued in order to obtain the capital for further financing or refinancing of undertakings contributing to the improvement of natural environment. In other words, to develop economy which is low-carbon and resistant to climate changes. They are relatively recent instruments, which have quickly become a substantial part of the dynamic ecological trend on the financial market. The research objective of the article is to identify the factors determining the development of the green bonds market. It is reasonable to systematize the stimuli of the evolution of this process, as the green bonds potential has not been fully utilized yet. Research methods applied were: critical analysis of the subject literature as well as reports on green bonds, data analysis from international ecological financial market, inductive method and the author’s own didactical material containing the case studies of five selected issuances of green bonds. The studies on subject literature were supplemented by an in-depth observation of how dynamically the green bonds market was developing in years 2012–2017. The outcome of the research: basic determinants of ecological bonds refer to demand, supply as well as realities and predictions regarding the functioning of the market. The research process confirmed that green bonds constitute a prospective dimension of the global debt market. It should be underlined, however, that if the environmental bonds segment is to develop rapidly, it is necessary to remove any barriers hindering its advancement, including low ecological awareness among the society or, in some cases, the country’s passivity towards pro-environmental policies

Green banking as the prospective dimension of banking in Poland

From a global perspective, we can observe a growing interest in environmental protection, also in the banking sector. Through the green banking sector, we can combine two essential benefits – for the economy and nature. The main objective of the paper is to characterise green banking in Poland. Moreover, the paper aims at analysing the representatives of this “green” trend, the motives of financial institutions and the environmental potential for the development of the sector. The presented study compares the involvement of two green banking representatives in the environmental protection (using descriptive and comparative methods and case study). Furthermore, the study predicts the development of this sector (using standardised expert interview). It should be emphasized that the business uses its “green” potential in the area. Ecological aspects are obviously being included in each institution’s strategy and banks make profits from the implementation. Pro-ecological activity of banks can be cost-effective in a long-term perspective. The competition in the domain of green banking is constantly growing. It will be increasingly expansive because experts predict the continuation of ecological development of Polish banks

Sustainable Development Communication and Promotion: Evidence from Top European Football Clubs

The ongoing COVID-19 pandemic has brought most forms of communication to the web. Most of those who are interested can learn about the activities of their favourite football club mainly from official websites and accounts on social networks. Due to the deepening climate crisis and the growing awareness of the society, so many people demand very detailed information about corporate environmental impact. Nowadays, a professional football club, wishing to maintain high popularity, should be focusing not only on sports results, but also on attitudes towards the environment and society it presents and promotes. The great example in that case can be top football clubs in the European league because, many other football clubs copy solutions from the best. This paper examines the 5 of top European football clubs’ activities area for the better natural environment and the way how these activities are communicated to the football fans. The main research was conducted using publicly available electronic information channels such as football clubs’ websites, reports or social media (like Facebook) accounts. The aim of the article is to indicate to what extent the functioning and reporting of leading football clubs is also subject to the principles of sustainable development in the field of the natural environment. The results can indicate the significance of the current contribution of the top European football clubs to the implementation of Sustainable Development Goals, as well as setting the directions of sustainable development for other football clubs in the future

The analysis of Sudden Infant Death Syndrome in Poland

Introduction: Sudden Infant Death Syndrome is defined in literature similarly as a sudden and unexpected death of an infant occurring during sleep and, at the same time, causes of which cannot be explained based on anamnesis, circumstances of death or comprehensive post-mortem examinations. Sudden Infant Death Syndrome is considered to be the most frequent cause of death among infants in the developed countries. Incidence of SIDS in the whole world ranges from about 0.1 to 6.0/1,000 live births. As much as 90% concerns deaths in the first year of life of a child, whereas 70% stands for deaths for which the cause remains unknown. In SIDS, about 90% of cases concern children under 1 year old and, in particular, at the age of between 2 and 4 months.The aim: The aim of the study was to present the most significant aspects of SIDS as well as description and analysis of risk factors for occurrence of sudden infant death syndrome based on statistical data.Materials and methods: For the purpose of the study, the secondary data analysis and desk research technique have been applied. The analysis is based on statistical data from the time period 2009-2014 released by the Central Statistical Office of Poland.Results: In 2009-2014, the highest number of deaths of infants and new-borns was reported in 2009 with the number being as high as 2,327. In the following years, the number of deaths of new-borns and infants systematically decreased. In 2010 it was 2,057 and in 2011 – 1,836, in 2012 – 1,791, in 2013 – 1,684, and in 2014 – 1,583. The highest number of deaths of boys was reported in 2009 – 1,298, while the number of deaths of girls in that year, although it was the highest in the analysed period, was lower – 1,029.Conclusions: cases of death were more frequent among boys rather than girls. The highest number of deaths was reported among infants under the age of one month and the number decreased with an increasing infants’ age. More cases of death were reported in the city area rather than in a village

Standards of analgesic treatment versus hospital practice

Introduction: Pain remedying is a fundamental patient law. Modern medicine is acknowledging the mechanism and the warp of pain, commanding more efficient therapeutic means allowing to control the pain.  Multidirectional pain therapy uses variable techniques and medicines which enables to maximize the analgesic effect during the reduction of side effects of each method.Objective: Evaluation of applying standards of analgesic treatment in hospital practice.Material and methods: There were 100 people with severe pain who underwent surgical and orthopedic treatment, as well as, the ones with chronic pain, staying in neurological ward who took part in the examination. Choice of examined patients was random and embraced hospitals patients in the Podkarpackie voivodeship with “Szpital bez Bólu” (eng.: Hospital without pain) certificate.  Examined group comprised of : 57% of women and 44% of men, living in rural (56%) and urban (44%) area. Research methods used in the examinations, were diagnostic opinion poll, records analysis and pain measurements.Results: 42 % of patients can feel the pain intermittently, 37% is not able to estimate how often do pain ailments occur, however, 21% of people suffer from chronic pain ailments. Patients have estimated their pain as follows: severe (26%), difficult to determine (20%), shooting (16%), burning (15%), radiating (10%), dull (8%), stinging (3%) and the one which appears when touched (2%). Having estimated the pain intensity, 53% of respondents claimed that they feel medium pain intensity and 33% claimed to have felt great pain. Nurses in the post-op (54%) and anesthesiologist (26%) are the one, to inform patient about possibilities and eventual methods of post-operative pain management.Conclusions: Pain limits physical functioning of patient. Five-stage scales included in the examination, were VAS and VRS which are sufficient in prophylaxis and pain alleviation but not entirely readable and understandable for all patients. Education of patient influences on the awareness and abilities of evaluating the pain

Problematyka inwestowania ekologicznego na rynku finansowym w teorii ekonomii

Z każdym kolejnym pokoleniem natężenie wpływu jednostki ludzkiej na środowisko wzrasta. Z uwagi na niepodważalny wpływ gospodarki na stan przyrody zagadnienie to przybiera charakter ekonomiczny w postaci inwestowania ekologicznego oraz ekologiczno-społecznej odpowiedzialności przedsiębiorstw. Wagę tych idei można zaobserwować w nowszych nurtach ekonomii. Celem artykułu jest próba osadzenia idei inwestowania ekologicznie odpowiedzialnego w następujących nurtach ekonomii alternatywnej: nowej ekonomii instytucjonalnej, ekonomii behawioralnej i ekonomii ekologicznej. W pierwszej części artykułu skonfrontowano założenia ekologiczno-społecznej odpowiedzialności z poglądami przedstawicieli głównego nurtu ekonomii. W drugiej części zjawisko inwestowania ekologicznego analizowane jest wyłącznie z perspektywy ekonomii alternatywnej. Na postawie pogłębionego przeglądu literatury można stwierdzić, iż to poszczególne kierunki rozwoju ekonomii alternatywnej, a nie ekonomii głównego nurtu są obecnie kluczowe dla realizacji idei inwestowania ekologicznego

STOCK MARKET INDICES AS A MEASURMENT TOOL FOR PROFITABILITY OF CORPORATE SOCIAL RESPONSIBILITY ACTIVITIES

Corporate social responsibility is gaining more importance in the functioning of businesses, therefore, tools are being developed to assess these activities, such as socially responsible stock indices. The research objective of the article is to characterise global and Polish socially responsible indices, as well as to measure and evaluate their profitability compared to traditional stock indices. The research methods applied in the paper are: subject literature analysis, statistical data analysis, secondary research analysis and own research in the form of calculating return rates and Sharpe ratios for RESPECT Index and WIG. The outputs of the analyses of the effectiveness of Polish and global indices will be compared to research hypotheses relating to socially responsible portfolios. The outcome of the article is to specify the key conclusions in the field of corporate social responsibility investment efficiency and stock market indices as a tool of measuring these activities

Arystoksenos z Tarentu, Elementy rymtu

Aristoxenus's "Elements of Rhythm" stands as the earliest extant scientific treatise on rhythm, with only the second book enduring to our present day, albeit in an incomplete state. Demonstrating his allegiance to Aristotle, Aristoxenus employs Aristotelian concepts and investigative methods throughout his work. Notably, he introduces a conceptual division between the substance of rhythm (rhythmizomenon) and its rhythmic structure (rhythmos). Drawing parallels to Aristotle's temporal theory, Aristoxenus goes further by proposing a novel concept—the "protos chronos," denoting the smallest unit of time. This nuanced exploration not only enriches our understanding of rhythm but also exemplifies Aristoxenus' adept application of Aristotelian principles in advancing the discourse on musical theory