Building Standards for Fair Financial Institution Performance on Basis of Management Systems Solutions

Financial institutions in Poland represent both fair and unfair approach to retail market customers. There are numerous reasons for such a mixed policies, including: knowledge dominance over customers, association of profits as high business value, bank brands changeability in merger and acquisition processes, constructing similarities in financial products to fast moving consumer goods (FMCG), significant hurry in introducing changes and policies, and selling risky financial products under association of conservative banking. The article presents numerous cases caused by those reasons. The key assumption of the publication is that the mixed fairness policies towards customers are based on errors in management systems of financial institutions. Improvement of management systems could be a source for more transparent policies in this area and better market effects. The article analyses opportunities to establish standardization of management systems in the area of fairness towards customers and indicates the truck to reach the goal. Standardization and certification of management systems in this area is considered as reasonable solution for market confidence decline after the financial crisis

Tax and Social Competition for Foreign Direct Investment in Central European Industry

The article presents the results of measurements of the competitive advantages of four Central European countries in attracting foreign direct investment to industry prior to European Union accession. Central Europe, which used various tax and social incentives, is compared in this area with EU countries in 1998-2004. The key conclusion of the study is that foreign investors derive economic benefits from moving production to Central Europe, both thanks to more favorable corporate income tax rates and lower labor costs. Generally, the differences in tax rates tend to be less important than the overall level of tax rates in the host country. A critical role is played by differences in labor costs among countries and the overall share of labor costs in the investor’s own country. The greater the differences in pay rates and the higher the share of labor costs in the product, the more profitable it is for the investor to transfer production to Central Europe. This issue is examined with the use of a model based on six variables. The model is used to calculate the tax and social prevalence of the four Central European countries over 14 EU countries on the basis of available data. The indices show profit per 1 euro of value-added industrial production transferred from the 14 EU countries to the four Central European countries in select years of the 1998-2004 period

Impact of applying the rules o f social responsibility o f business and business ethics on economic performance of Polish firms. Does ethical business pay o ff?

Corporate Social Responsibility (CSR) is an important factor which shapes organizational culture of enterprises. There is a broad literature on the qualitative effects of CSR rules implementation on company performance. The presented article is targeted at Presenting the impact of CSR certification on financial performance of Polish enterprises. Authors use comparative analysis of financial data referring to two groups of enterprises: the first one constituted of the CSR certified companies and the comparative group, selected on basis of quasi — experimental design. The comparative analysis reveals that CSR certified companies have different financial characteristics than the non CSR certified group. The CSR certified companies more economically use resources, especially fixed capital, have higher labor profitability and profitability on sales, have on the average less assets than the rest of companies, possess nearly two times higher financial liquidity and significantly better compensate employees. Authors conclude that it is highly probable that the CSR certified companies in Poland represent different business model based more on human capital than on physical or financial assets, like the rest of the companies. The CSR certified companies have better financial performance than the rest of economy. It pays to be fair in Polish business reality.Zadanie pt. „Digitalizacja i udostępnienie w Cyfrowym Repozytorium Uniwersytetu Łódzkiego kolekcji czasopism naukowych wydawanych przez Uniwersytet Łódzki” nr 885/P-DUN/2014 zostało dofinansowane ze środków MNiSW w ramach działalności upowszechniającej naukę

Behavioural Interventions in Regional Policy. Motivating Enterpreneurs to Use Support Instruments for Innovation

Small and medium sized enterprises (SME) play an important role in the economies of numerous emerging economies. Despite the fact that the SME sector plays a significant role in the national economy it still suffers from the underdeveloped financial sector services. It results in the lower levels of indebtedness of private sector in Poland in relation to such emerging economies like Malaysia, Estonia or Chile. The commercial financial sector is inefficient in delivering funds to SME, the important role in this area is played by regional policy, especially supported from European regional funds. The distribution of development funds is realized with serious problems because SME are reluctant to financial sector services and besides typical grants, debt-type instruments meet serious problems. Polish SME are also reluctant to use support instruments aimed at developing innovations, R&D, and intellectual property (IP) protection. Imitation model of growth still dominates among Polish SME. To address this issue, in 2014 the University of Gdansk (UG) launched a project, supported by National Science Centre (NCN, governmental), on using behavioural interventions to increase the propensity of Polish SME to apply more ambitious development measures through support instruments. The research revealed, that the majority of tested behavioural interventions aimed at building friendly support environment proved to be efficient and increased the interest of SME in developmental activities

The changing patterns of foreign direct investment : survey insights

The questionnaire survey conducted for this research project shows crosscountry differences in the patterns of foreign direct investment (FDI), in the motives for and performance of investment, and in investors’ assessments of the local business environment. Following a brief introduction to the survey methodology, we discuss the investors and review their entry motives, entry modes and performance. Generally, we find fewer changes in entry pattern over the period of the 1990s than expected, but also uncover some interesting differences across the three countries in our study, and between European emerging economies (EEE) and other emerging economiesVytauto Didžiojo universiteta