Financial liquidity analysis of CSR based Capital Group Zywiec SA

The article presents the Capital Group Grupa Zywiec plc. as an enterprise operating in food industry which has received a Golden Leaf Award for CSR” (Pichola, Rudzki, 2013) and has been ranked among the top ten companies in the aforementioned sector. It is a beer producer, i.e. a good which is controversial in the opinion of society. In order to change the attitude of the public toward the Capital Group and show concern for ecological aspects, the company has made attempts to create and implement CSR strategy in formal terms. It should be emphasized that major shareholder (Heineken company) has already been following the strategy of sustainable development referred to as Brewing a Better Future (Social Report, 2013). However, the period during which the aforementioned actions were taken arouses a number of doubts, e.g. if the enterprise is able to continue its activity having achieved a certain level of liquidity. In times of great financial crisis, which started at the turn of 2007 and 2008, maintaining adequate liquidity was the main problem. It was then that enterprises ought to pay special attention to this aspect (Gorczynska, 2011; Raport, 2010). Having the above in mind, the paper discusses issues relating to financial liquidity of the Capital Group Zywiec plc. in times of economic crisis and at the initial stage of CSR strategy implementation. Case study is the main method employed to verify the hypothesis formulated at the beginning of the article. Selected financial ratios are used in order to compare the liquidity of the Capital Group with the liquidity of the entire sector

SERUM IGF-I AND HORMONAL RESPONSES TO INCREMENTAL EXERCISE IN ATHLETES WITH AND WITHOUT LEFT VENTRICULAR HYPERTROPHY

We investigated the response of insulin-like growth factor (IGF- I), insulin-like growth factor binding protein-3 (IGFBP-3) and some hormones, i.e., testosterone (T), growth hormone (GH), cortisol (C), and insulin (I), to maximal exercise in road cyclists with and without diagnosed left ventricular hypertrophy. M-mode and two-dimensional Doppler echocardiography was performed in 30 professional male endurance athletes and a group of 14 healthy untrained subjects using a Hewlett-Packard Image Point HX ultrasound system with standard imaging transducers. Echocardiography and an incremental physical exercise test were performed during the competitive season. Venous blood samples were drawn before and immediately after the maximal cycling exercise test for determination of somatomedin and hormonal concentrations. The basal concentration of IGF-I was statistically higher (p < 0.05) in athletes with left ventricular muscle hypertrophy (LVH) when compared to athletes with a normal upper limit of the left ventricular wall (LVN) (p < 0.05) and to the control group (CG) (p < 0.01). The IGF-I level increased significantly at maximal intensity of incremental exercise in CG (p < 0.01), LVN (p < 0.05) and LVH (p < 0.05) compared to respective values at rest. Long-term endurance training induced an increase in resting (p < 0.01) and post-exercise (p < 0.05) IGF-I/IGFBP-3 ratio in athletes with LVH compared to LVN. The testosterone (T) level was lower in LVH at rest compared to LVN and CG groups (p < 0.05). These results indicate that resting serum IGF-I concentration were higher in trained subjects with LVH compared to athletes without LVH. Serum IGF- I/IGFBP-3 elevation at rest and after exercise might suggest that IGF-I act as a potent stimulant of left ventricular hypertrophy in chronically trained endurance athlete

Involvement's Barriers of Micro and Small Firms into EU Energy Transition

One of the greatest challenges for modern companies is finding a balance between achieving environmental goals and being competitive on the market. The current situation forces companies to overcome various challenges that contribute to reducing energy consumption. The aim of the article is to try to answer the following question: What problems can be identified for the smallest business entities in the implementation of environmental standards imposed by legislation? In search of an answer to this question, the structure of this article was assigned, in which the following was described: the main issues related to energy transformation in the EU, the SME sector was characterised against the background of the economy and energy challenges, the methodology, results, and results of the research conducted on Polish enterprises were presented. The research, based on a structured and standardized survey questionnaire, was conducted with the use of the CATI technique between April and May 2022 among owners of micro and small enterprises operating in Poland. As research has shown, there are various barriers that limit the participation of the surveyed companies in energy transformation

Kinetics and products of air plasma induced oxidation in water of imidacloprid and thiamethoxam treated individually and in mixture

Imidacloprid (I) and thiamethoxam (T) are widely used neonicotinoid insecticides with high persistence in the environment and thus included in the watch list of substances for European Union-wide monitoring reported in the Decision 2015/495/EU. In this work aqueous solutions of I, T and I¿+¿T were subjected to advanced oxidation by air plasma produced by negative DC corona discharges above the liquid surface. The oxidative degradation of each pollutant was investigated by monitoring the rate and the products of its decay when treated alone and in the presence of variable amounts of the other compound. The results show that both I and T are readily degraded and that mineralization can be achieved in this process, as proven by the measurement of the residual organic carbon and by the quantitative conversion of chlorine and sulfur into inorganic chloride and sulfate, respectively. The major organic intermediates formed during the complex stepwise oxidation of I and T were identified and monitored by HPLC–MS/MS analysis. The results of kinetic studies show that both for I and T the reaction rate depends inversely on the insecticide initial concentration, that I and T have similar reactivities and that they do not interfere reciprocally in any specific way when treated in mixture at a total concentration of ca 1¿×¿10-4 M. Based on literature data and on previous results with the same reactor, it is reasonable to propose that the oxidation of I and T is initiated by the reaction with OH radicals.Peer ReviewedPostprint (author's final draft

Impact of the COVID-19 pandemic on pulmonary hypertension patients : insights from the BNP-PL national database

We aimed to evaluate the clinical course and impact of the SARS-CoV-2 pandemic on the rate of diagnosis and therapy in the complete Polish population of patients (pts) with pulmonary arterial hypertension (PAH-1134) and CTEPH (570 pts) treated within the National Health Fund program and reported in the national BNP-PL database. Updated records of 1704 BNP-PL pts collected between March and December 2020 were analyzed with regard to incidence, clinical course and mortality associated with COVID-19. Clinical characteristics of the infected pts and COVID-19 decedents were analyzed. The rates of new diagnoses and treatment intensification in this period were studied and collated to the proper intervals of the previous year. The incidence of COVID-19 was 3.8% (n = 65) (PAH, 4.1%; CTEPH, 3.2%). COVID-19-related mortality was 28% (18/65 pts). Those who died were substantially older and had a more advanced functional WHO class and more cardiovascular comorbidities (comorbidity score, 4.0 ± 2.1 vs. 2.7 ± 1.8; p = 0.01). During the pandemic, annualized new diagnoses of PH diminished by 25–30% as compared to 2019. A relevant increase in total mortality was also observed among the PH pts (9.7% vs. 5.9% pre-pandemic, p = 0.006), whereas escalation of specific PAH/CTEPH therapies occurred less frequently (14.7% vs. 21.6% pre-pandemic). The COVID-19 pandemic has affected the diagnosis and treatment of PH by decreasing the number of new diagnoses, escalating therapy and enhancing overall mortality. Pulmonary hypertension is a risk factor for worsened course of COVID-19 and elevated mortality

Analysis of Outcomes in Ischemic vs Nonischemic Cardiomyopathy in Patients With Atrial Fibrillation A Report From the GARFIELD-AF Registry

IMPORTANCE Congestive heart failure (CHF) is commonly associated with nonvalvular atrial fibrillation (AF), and their combination may affect treatment strategies and outcomes