Model for reputational risk for subsidiaries of non-public group with reciprocal shareholding

The paper presents the model for reputational risk for subsidiaries of non-public group with reciprocal shareholding within the Basel Accord. A test for lack of reputation risk is presented. Proposal for quantification of the non-measurable risk has been outline first for the case of the effective public market, than a limited model has been presented for the non-consolidated level in case of the lack of public benchmark.Risk, Reputational risk, Model, Risk management, IFRS, BASEL,CRD, Accord

Inherent Agency Conflict Built into the Auditor Remuneration Model

This paper provides a model for audit market interventions. The study asks whether interventions in the audit market result in excessive premiums at the cost of quality and independence. The model was tested based on a historical data sample of 1,927 companies’ fiscal year financial statements, observed for the period 2010–2013. The testing strategy combined statistical analysis of the market concentration and regression of abnormal results. The findings do not support, for the Polish market, the conclusion that the audit market is used as a leverage for consulting services. This paper discusses possibilities of systematic risk for policymakers as a result of the negative interaction between regulated and non-regulated markets

The Impact of Contemporary Environmental Migrations on International Security.

The 20th and 21st century is a period of great changes, with the civilization-enhancing digital revolution on the one hand and the emergence of new global threats on the other hand. Unarguably, global warming is among the most serious challenges, bringing about dire consequences for humans, the environment and the international security. One of them is the phenomenon of contemporary environmental migrations, which was until recently marginalized, and today causes deep concerns of the entire international community. The purpose of this article is to characterize the problem of contemporary environmental migrations, present the predictions regarding its further development, and discuss its effects on the individuals affected, states and international relations

High Frequency Trading Readiness in Central Europe

This paper addresses the microstructure of Central European public financial markets. The aim of the paper is to justify the development and potential of high frequency trading (HFT) on transition economies regulated markets. The regression analysis is applied over neighborhood economies. The data consists of 642 firm-year observation over years 2010-2012. The evidences show that there is lack of responsiveness of the return on equity towards the stock exchanges co-location

The importance of Power, Distance, and Imposition on Spanish verb forms in requests

This thesis analyzed the production of requests through the framework of Politeness Theory and the variables of power, distance, and imposition (Brown & Levinson, 1987). Research on Spanish has focused on Spanish requests (e.g. Placencia, 1998; Lorenzo Díaz, 2016) or cross-cultural analyses of requests (e.g. Blum-Kulka, House & Kasper, 1989; Márquez-Reiter, 2000). However, the lack of balance in the contexts examined regarding the social variables power, distance, and imposition makes it difficult to compare the effect of these variables on the request norms. Furthermore, requests likely vary according to other contextual factors as well, but this has received little systematic attention in prior literature. The aim of this project is to explore the importance of the three social variables as they impact the verb selection in requests in Peninsular Spanish, considering the orientation of the verb (e.g. speaker- or hearer-oriented) and the verbal continuum proposed by Chodorowska-Pilch (1998) that encodes politeness through the verbal system. The present research examines the production of requests by a total of 104 native speakers of Peninsular Spanish in 16 different and balanced academic situations. The situations were designed by taking into consideration the three social variables proposed by Brown and Levinson (1987): power, distance, and imposition. The instrument used to collect the data was an online Discourse Completion Task (DCT). The DCT was innovative in that the contexts that represented variations of power or distance referred to specific people known by the individual participants, providing reference to situations and relationships that respondents have experienced. A total of 1594 requests were analyzed. Mixed effects logistic regression models were used to examine the use of different verb types considering the predictor variables of power, distance, and imposition. The analyses, taken collectively, showed that the variables of power and imposition were more impactful in predicting verb-forms than distance. Overall, there were trends that showed the increased use of more polite verb forms (e.g. conditional, subjunctive) when power differentials between interlocutors and requests of increased imposition were present. Distinctly, when contexts portrayed no power differential (-P), no distance between interlocutors (-D) and little imposition (-I), requests overwhelmingly relied on imperative forms, those that express little mitigation or politeness efforts. While variation in verb form was found depending on context, the analysis of verb orientation showed that Peninsular Spanish speakers rely on hearer-oriented requests in nearly all contexts. This research expands our understanding of contextual variables that shape pragmalinguistic structures, considering the verb, in Peninsular Spanish

From Scientist to Broker, and How Brokers Use Their Social Capital to Develop Talents at Universities

The social capital of an organization is one of the key success factors of enterprises that build their competitive position in the market. This resource, obtained from social structures, can also be used to achieve goals set for public sector organizations, such as universities. Universities operate in conditions of high uncertainty, changing roles, and expectations of stakeholders, which requires adaptability and flexibility of operation. In addition to improving the quality of research and teaching, one of the important evaluation criteria is also the ability to transfer knowledge to the economy and commercialization of research. One of the activities undertaken by universities to support employees in ongoing changes is the implementation of academic scouting, introducing departmental innovation brokers who play the role of coaches/mentors, supporting research and teaching staff by commercializing their research results. The aim of the article is to show how the social capital of departmental innovation brokers supports the development of competences of scientific and research scholars. Based on the conducted qualitative research, it was presented how brokers use their social capital to achieve multidimensional goals in relation to other people, as well as organizational goals resulting from the entrusted function. Factors hindering the cooperation of departmental innovation brokers with academics, which are manifested in various areas of social capital – structural, cognitive, and relational – were analyzed.The social capital of an organization is one of the key success factors of enterprises that build their competitive position in the market. This resource, obtained from social structures, can also be used to achieve goals set for public sector organizations, such as universities. Universities operate in conditions of high uncertainty, changing roles, and expectations of stakeholders, which requires adaptability and flexibility of operation. In addition to improving the quality of research and teaching, one of the important evaluation criteria is also the ability to transfer knowledge to the economy and commercialization of research. One of the activities undertaken by universities to support employees in ongoing changes is the implementation of academic scouting, introducing departmental innovation brokers who play the role of coaches/mentors, supporting research and teaching staff by commercializing their research results. The aim of the article is to show how the social capital of departmental innovation brokers supports the development of competences of scientific and research scholars. Based on the conducted qualitative research, it was presented how brokers use their social capital to achieve multidimensional goals in relation to other people, as well as organizational goals resulting from the entrusted function. Factors hindering the cooperation of departmental innovation brokers with academics, which are manifested in various areas of social capital – structural, cognitive, and relational – were analyzed

Audit fee and banks’ communication sentiment

The study verifies the relationship between the audit fee and reporting sentiment in the banking industry. The research adopts panel data from a sample of 490 commercial banks across 43 US states for years 2000-2016. The results indicate that the audit fee is affected by the sentiment and is subject to time development. The research shed light on the nature of auditor relations in the specific economic context of the US. The results add to the science new and robust evidence on attitudes towards asymmetry friction in the supervised market. The Financial Authorities might benefit from the presented results while preselecting the entities for on-site inspection

Ultimate owner and risk of company performance

The purpose of this paper is to investigate the links between a company’s ultimate owner and the risk involved with financial performance. The study tests hypotheses on the relation between ultimate ownership origin and risk of return on assets. The research adopts cross-sectional data from a unique sample of 32,614 companies across 43 European countries with ultimate owners from 105 countries. The results indicate that the domestic ultimate owner is, in general, less likely to be a risk-taker than overseas investors. The research develops the nature of ownership- performance relations in the specific economic context of Europe. The results add robust evidence on attitudes towards performance risk of Europe wide ultimate owner

Niestabilność blaszki miażdżycowej w objawowych zwężeniach tętnic szyjnych

Background. The currently accepted criteria for carotid endarterectomy are closely related to the severity of carotid artery stenosis, combined with the presence or absence of neurological symptoms. Recently, it has been advocated, that some of the atheromatous lesions not necessarily qualified for surgery may be unstable, thus leading to increased incidence of neurological symptoms. The aim of the study was to determine the relationship between the morphology of the carotid plaque and the risk of increased microembolism during the carotid endarterectomy. Material and methods. Fifty-two patients were evaluated, while being treated for internal carotid artery stenosis. Among this cohort, 56 endarterectomies were performed (4 patients had bilateral carotid endarterectomies in the period of evaluation. The following data were taken into analysis during this study: the degree of carotid stenosis, morphology of the carotid plaque (GSM); during the surgery, the following elements of blood flow in the medial cerebral artery (MCA) were registered - microembolism, Vav, Vmax and PI. All these parameters were registered using a transcranial Doppler (TCD). The periods of observations were divided into 3 stages (stage I - dissection of arteries, stage II - clamping time, and stage III - after the release of the clamps). Results. The comparative results of the analysis revealed that in the first group of patients with hipoechogenic, "soft" plaques (GSM < 50) there was a significant increase in the amount of microemboli released during stage I of the operation, than in the II group having hiperechogenic plaques (GSM > 50) - p = 0.002. Also, the cumulated amount of microemboli during all the stages of the operation was significantly higher in group I (p = 0.005). Conclusions. There is a direct relationship between the carotid plaque echogenicity and the perioperative morbidity related to the amount of microembolism. The results of the study suggest correlation between the plaque morphology and its stability, indicating the necessity for further investigation.Wstęp. Aktualnie obowiązujące kryteria operacji miażdżycowego zwężenia tętnic szyjnych oparto na ocenie stopnia zwężenia oraz na stwierdzeniu obecności lub braku towarzyszących objawów neurologicznych. Ostatnio zwraca się uwagę, że niektóre zmiany mogą mieć charakter niestabilny, przyczyniając się do częstszego występowania objawów neurologicznych. Celem pracy była ocena zależności pomiędzy ultrasonograficznym charakterem morfologicznym blaszki szyjnej a zwiększonym ryzykiem mikrozatorowości w trakcie endarteriektomii tętnicy szyjnej wewnętrznej. Materiał i metody. Ocenie poddano 52 chorych leczonych z powodu objawowego zwężenia tętnicy szyjnej wewnętrznej, u których wykonano 56 endarteriektomii tętnic szyjnych (4 osoby operowano z powodu obustronnego zwężenia tętnic szyjnych). Oceniano stopień zwężenia oraz morfologiczny charakter zmiany miażdżycowej (GSM). W trakcie zabiegu u wszystkich chorych monitorowano przepływ w tętnicy środkowej mózgu (TCD), rejestrując zjawisko mikrozatorowości oraz Vśr, Vmax i PI. Okres obserwacji podzielono na 3 etapy (I - przed klemowaniem tętnic szyjnych, II - klemowanie, III - po zdjęciu klemów). Wyniki. W analizie porównawczej obrazu wykazano, że w grupie I - u chorych ze zmianami o charakterze "miękkim", hipoechogenicznym (GSM < 50) - dochodzi do zdecydowanie większego uwalniania materiału mikroembolizacyjnego niż w grupie II - u pacjentów ze zmianami o charakterze hiperechogenicznym (GSM > 50). Również łączna liczba zatorów podczas całego zabiegu była większa w grupie I (p = 0,005). Stwierdzono także, że w miarę wzrostu echogeniczności zmniejsza się ilość uwalnianego materiału zatorowego (p = 0,003). Wnioski. Istnieje bezpośrednia zależność pomiędzy echogenicznością zmiany miażdżycowej a stopniem ryzyka okołooperacyjnego związanego z uwalnianiem materiału zatorowego. Wyniki te wskazują na związek pomiędzy morfologicznym obrazem blaszki a jej stabilnością i sugerują zasadność dalszych badań

Predictors of willingness to participate in physical education (PE) in Polish High Schools

Wstęp. 14% uczniów w polskich szkołach średnich deklaruje niechęć do uczestniczenia w zajęciach wychowania fizycznego (WF). W Europie ponad 50% uczniów nie uczestniczy w zajęciach wychowania fizycznego w ogóle. Cel. Celem badania było zebranie opinii na temat przyczyn rezygnacji z zajęć WF wśród uczniów polskich szkół średnich oraz ocena wpływu ich decyzji na poczucie pewności siebie, BMI i stan zdrowia. Materiał i metody. 318 uczniów w wieku 16-19 lat wzięło udział w badaniu. Średni wiek uczniów wynosił 17,9 lat. Respondentów poproszono najpierw o wypełnienie kwestionariusza ankiety dotyczącej opinii na temat prowadzenia zajęć WF, przyczyn rezygnacji. Następnie uczniowie podali informacje dotyczące ich zdrowia i zachowań prozdrowotnych. Rozkład zmiennych został sprawdzony, a testy Chi-kw., Spearmana oraz regresja logistyczna zostały wykorzystane do analizy. Wskaźnik odpowiedzi response rate wyniósł 84,1%. Wyniki i podsumowanie. Chłopcy istotnie chętniej (20,65%) brali udział w zajęciach WF niż dziewczęta (9,70%). Kobiety powyżej 18. roku życia częściej (27,7%) oceniały swój stan zdrowia jako średni, zły i bardzo zły niż dziewczęta do 18. roku życia (14%). Wieloczynnikowa analiza regresji logistycznej (CI: 95%) wykazała, że takie czynniki, jak ocena stanu zdrowia (SAH), atrakcyjność zajęć WF, poziom sprawności fizycznej istotnie (p < 0,05) wpływają na uczestnictwo w WF. Natomiast stopień trudności ćwiczeń i BMI respondentów były wysoce istotne (p < 0,001) i miały wpływ na uczestnictwo w zajęciach WF. 77,8% uczniów oceniło system oceny za nieuczciwy, a indywidualne predyspozycje powinny być brane pod uwagę. Wyniki badań sugerują, że badane zjawisko jest wieloczynnikowe. Poczucie własnej wartości i subiektywny stan zdrowia wpływają na decyzję o uczestnictwie w zajęciach WF.Introduction. 14% of students in Polish High Schools declare unwillingness to participate in obligatory physical education. Above 50% of European pupils more than 15 years old do not take physical activity at all. Aim. The aim of this study was to examine the opinions of High School students about participation in PE and the effects of this kind of activity on their self-esteem, BMI and health status. Material and methods. 318 students 16-19 years old accepted the invitation and participated in the study. The average students’ age was 17.9. The group filled in the original questionnaire on PE. After that, health information and self-esteem was obtained. Variables distribution was checked. Chisquare, Spearman test and logistic regression were used for data analysis. Answers response rate was 84.1%. Results and conclusion. Men (20.65%) were significantly more willing to participate in PE than women (9.70%). Women over 18 years old more frequently (27.7%) rated their health as average, bad and very bad than women up to 18 years of age (14%). Multivariate logistic regression analysis (CI:95%) showed that self-assessed health status (SAH), attractiveness of PE, physical fi tness level signifi cantly (p<0.05) affect participation in PE, while the degree of difficulty of exercises and participants’ BMI had a highly significant (p<0.001) impact on participation in PE. 77.8% of participants rated the assessment system as unfair. Individual predispositions should be taken into consideration. The study suggests that the studied phenomenon is multifactorial. Self esteem and health assessment infl uence participation in PE