Results of SME Investment Activities: A Comparative Analysis among Enterprises Using and Not Using EU Subsidies in Poland

The need to pay some attention to the issues of investment processes undertaken in enterprises and explore this topic is a direct result of the important role that enterprises play in the economy — with particular emphasis on the SMEs. From the company’s point of view, it is crucial to obtain economic effects as a result of the implemented investment. The aim of the study was to analyze the results of tangible investments in enterprises in Małopolska province in Poland, in two groups of entities — those that implemented investments using EU subsidies and those that financed investments from other sources without using EU aid. This is a unique research in the field of analysis and presentation of investment data in enterprises, especially in relation to companies using EU funds. There is no comparative assessment of investments in enterprises on this topic in the scientific literature (concerning EU subsidies). For this reason, comparing the effects of investment activities between the two groups of enterprises studied — using and not using EU subsidies — fills the research gap in this regard. The study was based on the critical analysis of domestic and foreign literature, and quantitative and qualitative analyses of the results of a survey among 160 enterprises using the CSAQ method, additionally extended by interviews with selected respondents. Data presentation uses a descriptive approach in combination with statistical analysis. A multiple linear regression model (MLR) was also used to verify hypotheses. Research results show that undertaking investment activities contributes to obtaining favorable results in enterprises, regardless of the source of investment financing. The source of financing the investment is not important for the results achieved in the enterprise. However, representatives of companies who received EU subsidies assess their market position higher after investment relative to companies that used other sources of financing for this purpose. Entities that have received EU subsidies have a stronger perception of investment as an important factor determining the company’s development. In addition, variables were identified using the MLR model that affect the assessment of the financial position of enterprises in both groups of entities. This article supplements the knowledge on the economic effects of investments implemented by enterprises in the SME sector in Poland in a situation where these entities used and did not benefit from EU subsidies during 2007–2015

Results of SME Investment Activities: A Comparative Analysis among Enterprises Using and Not Using EU Subsidies in Poland

The need to pay some attention to the issues of investment processes undertaken in enterprises and explore this topic is a direct result of the important role that enterprises play in the economy — with particular emphasis on the SMEs. From the company’s point of view, it is crucial to obtain economic effects as a result of the implemented investment. The aim of the study was to analyze the results of tangible investments in enterprises in Małopolska province in Poland, in two groups of entities — those that implemented investments using EU subsidies and those that financed investments from other sources without using EU aid. This is a unique research in the field of analysis and presentation of investment data in enterprises, especially in relation to companies using EU funds. There is no comparative assessment of investments in enterprises on this topic in the scientific literature (concerning EU subsidies). For this reason, comparing the effects of investment activities between the two groups of enterprises studied — using and not using EU subsidies — fills the research gap in this regard. The study was based on the critical analysis of domestic and foreign literature, and quantitative and qualitative analyses of the results of a survey among 160 enterprises using the CSAQ method, additionally extended by interviews with selected respondents. Data presentation uses a descriptive approach in combination with statistical analysis. A multiple linear regression model (MLR) was also used to verify hypotheses. Research results show that undertaking investment activities contributes to obtaining favorable results in enterprises, regardless of the source of investment financing. The source of financing the investment is not important for the results achieved in the enterprise. However, representatives of companies who received EU subsidies assess their market position higher after investment relative to companies that used other sources of financing for this purpose. Entities that have received EU subsidies have a stronger perception of investment as an important factor determining the company’s development. In addition, variables were identified using the MLR model that affect the assessment of the financial position of enterprises in both groups of entities. This article supplements the knowledge on the economic effects of investments implemented by enterprises in the SME sector in Poland in a situation where these entities used and did not benefit from EU subsidies during 2007–2015

How the Polish banking sector has survived the global crisis

Banks in Poland have survived global financial crisis which began in 2008, much better than banks in many other countries in Western and Central Europe. The author lists and analyzes factors which contributed to maintain liquidity and financial stability of the banking sector. The most important include inter alia: strong macroeconomic bases of economy before the crisis, relatively less reliance on foreign capital and lower dependence on external trade, a lower level of households debt, a relatively high capitalization of banks and appropriate policy intervention. As the author suggests, maintaining stability of this sector will require new regulatory decisions.Banks in Poland have survived global financial crisis which began in 2008, much better than banks in many other countries in Western and Central Europe. The author lists and analyzes factors which contributed to maintain liquidity and financial stability of the banking sector. The most important include inter alia: strong macroeconomic bases of economy before the crisis, relatively less reliance on foreign capital and lower dependence on external trade, a lower level of households debt, a relatively high capitalization of banks and appropriate policy intervention. As the author suggests, maintaining stability of this sector will require new regulatory decisions

Rola funduszy europejskich w rozwoju przedsiębiorstw innowacyjnych

The main goal of this paper is to present the importance of innovation and research and development (R&D), in the context of economic development. Paper contains a theoretical introduction to the innovation, and the characteristics of the Innovative Economy Operational Program, which supports the innovation processes in Poland in the European Union's financial participation. The article also includes the level of innovation and R&D on Polish territory

Implementation of innovations in enterprises using the EU funds: A comparative analysis

The European Union sees the role of innovations as measurably influencing the improvement of social and economic development in the regions of its member states. Actions that promote the implementation of innovations in the SME sector as one of the elements having a positive impact on the European Union's cohesion policy have a special role in supporting enterprises. Therefore, the EU operational programmes dedicated to small and medium-sized enterprises are a valuable source of external financing for innovations in these entities. The implementation of innovative investment projects positively influences the development of enterprises. A company resistant to implementing innovations may lose its competitive position on the market and slow down its development. The aim of this article is to conduct a comparative analysis of the implementation of innovative investments between the enterprises that received financial assistance from the European Union in relation to the enterprises that implemented innovations using other sources of financing. The study shows that enterprises covered by financial support from operational programmes have a higher level of innovative investments than other economic entities. Companies receiving EU aid are more often implementing production innovations among all four types of innovations as compared to other enterprises. In addition, it was found that in the lack of financial support from the EU, almost half of the companies would not be able to implement innovations as such. Therefore, the issue of innovations implemented in enterprises with the use of the EU financial aid should be considered as a currently relevant topic and an extremely important one from the standpoint of entrepreneurship development. This study should be considered unique, as there are no studies, to the best of the author's knowledge, containing comparative analyses in this area

Factors Strengthening the Competitive Position of SME Sector Enterprises. An Example for Poland.

The role of competition in the context of the most natural and distinct sign of market orientation and implemented enterprise activities on the part of managers, contractors and owners of companies is often stressed as part of the concerned issue. Since routine actions, faith in the repeatability of market phenomena or the loyalty of consumers are not accepted in competitive activities of enterprises, the owners and managers are expected to act in an entrepreneurship-like manner to achieve a competitive position. As part of each market and sector based on the principle of competitiveness, a leader can be distinguished who, by his dynamics, forces other participants to undertake actions aimed at achieving a better market position in the competitive race (Strużycki, 2002).The primary purpose of selecting the research area of this article is, first of all, the desire to present the issues of SME enterprise competitiveness with the simultaneous determination of factors having impact on the competitiveness of micro, small and medium enterprises, as well as on their development. The purpose of the article will be to identify the factors having a direct impact on creating the competitive position and the development of enterprises as well as mutual relations between entrepreneurs and their business partners. The cooperation between business entities affects the proper growth in the whole branch and particular sectors of the economy. Thus, in the process of planning and decision-making in an enterprise, the selection of an appropriate business partner plays an important part. In order to analyze the subject matter, a secondary research was used using the study of literature, research reports from various scientific centers and statistical data as well as an empirical research conducted by means of a questionnaire with participation (supported by pollers) on a random sample of 520 micro, small and medium enterprises. 460 entities were selected from this group, which answered all questions included in the questionnaire. The enterprises participating in the research are located within southern and south-eastern Poland in three voivodeships – małopolskie, śląskie, podkarpackie

String Inference from Longest-Common-Prefix Array

Peer reviewe

Expectations and Challenges in the Labour Market in the Context of Industrial Revolution 4.0. The Agglomeration Method-Based Analysis for Poland and Other EU Member States

Technological revolution brings forth major changes in the labour market as well as the necessity to adapt to the shifting conditions on the part of both employees and entrepreneurs. This notion fits in with the European Policy of “Lifelong Learning” which presents the necessity to constantly improve skills and participate in the process of learning through the entire period of professional engagement. The aim of the article is to diagnose the current situation in the labour market and expectations towards employees as a result of the technological revolution and digitization, and to analyze whether there are groups of countries in the EU with similar features describing the labour market and to present the differences between these groups. The study uses research methods based on literature research, content analysis and comparative analysis, and the empirical part uses cluster analysis – the Ward method, using secondary statistical data from the Eurostat database. It was verified which groups of the Member States exhibited similarities to the extent of: forms of employment; work productivity; commitment of entrepreneurs and employees to the process of continuing vocational training (CVT) and lifelong learning; educating future employees of the economy at the level of higher education (HE) in STEM fields and development of digital skills as well as commitment of governments of each EU Member State to financing research and development in higher education institutions (HEIs). It may be ascertained that the average values of variables describing the pattern followed by “new” Member States which joined the EU in 2004 or later are, in majority, lower than the values of the same variables describing the pattern followed by the ”old” Member States. It cannot be unambiguously stated that the affiliation with the Eurozone in any way determined whether a given group of Member States is better or worse than the other. The resulting figures may become significant at the stage of developing the employment policy as well as the education policy and the professional career development policy in the respective Member States. Those results may be applied to both evaluation and planning of actions to be taken against the background of the development strategy in order to reduce clearly visible inequalities between the European Union Member States