Journals Poznań University of Economics and Business
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The development of downside accounting beta as a measure of risk
No full textThis paper develops a new method for measuring market risk called downside accounting beta (DAB). To test the validity of DAB the method is applied to the financial data for 14 food companies listed on the Warsaw Stock Exchange during a 6-year period. DAB calculates how changes in the profitability of the whole sector affects the profitability of a given company. The paper concludes that when calculating DAB using Return on Assets (ROA) and Return on Equity (ROE) there is a positive correlation with market betas. The practical implication of this research is that investors, owners and managers can use DAB to calculate the systematic risk of companies not listed on stock markets and consequently to identify the levels of risk associated with companies within the sector.
 
Silver entrepreneurship: A golden opportunity for ageing society
Full text linkThis paper aims to discuss the notion of silver entrepreneurship in the context of the silver economy. Policy-wise knowing who silver entrepreneurs are and what it takes to support them is an essential step to productively managing the ageing population and promoting an age-ready but age-friendly approach to creating a sustainable economy and society in the new demographic reality. The paper provides a theoretical and empirical literature review of silver entrepreneurship to identify the current state of the art. It also identifies selected policies and strategies aiming to foster silver entrepreneurship, representing a more inclusive and age-diverse entrepreneurial landscape. The silver entrepreneurship proves to be a challenging research field due to the elusive nature of entrepreneurship itself and the lack of universal definitions for this phenomenon
Gambling companies between economic profitability and social responsibility. The Romanian case
No full textObjectif : Étudier la situation du marché roumain des jeux d’argent du point de vue des recettes du secteur, des facteurs qui favorisent le marché, ainsi que du comportement des joueurs.
Conception/méthodologie/approche : Analyse des sources secondaires (articles et rapports de spécialité) de sort à assurer la comparabilité avec d’autres pays.
Résultats : Nous mettons en évidence tant l’évolution spectaculaire de ce secteur en Roumanie, que sa contribution à la croissance de l’économie nationale, grâce aux recettes budgétaires et au développement sectoriel. D’autre part, pratiquer des jeux d’argent n’est pas sans risques, le plus inquiétant étant l’addiction. De ce point de vue, les institutions de l’État ainsi que les compagnies de profil ont une responsabilité non seulement légale, mais aussi sociale pour trouver et mettre en place les solutions les plus appropriées pour la prévention et le traitement de la dépendance.
Originalité/valeur : L’analyse détaillée du marché roumain des jeux d’argent, la présentation critique des mesures visant à protéger les joueurs et des solutions d’amélioration de la prévention.Purpose: To analyse the situation of the Romanian gambling market from the point of view of revenues from the sector, the favoring factors and the behavior of the players.
Design/methodology/approach: Study of secondary sources (specialised articles and rapports) in order to allow us to compare the situation with other countries.
Findings: The result highlights both the spectacular evolution of this sector in Romania, as well as the growing contribution to the national economy, through the revenues provided to the state budget and the support of other economic sectors. On the other hand, the practice of gambling is not without risks, the most worrying being addiction. From this point of view, both state institutions and specialised companies have not only a legal, but also a social responsibility to find and implement the most suitable solutions to prevent and treat addiction.
Originality/value: Detailed analysis of the Romanian gambling market, critical presentation of measures to protect players and solutions to improve prevention
Financial frauds throughout the years – literature review
Full text linkFinancial frauds have been a growing problem across the global financial markets. Losses generated by such illegal activities affect both the global economy and individual entities, especially those operating in the financial market. Perpetrators of such frauds seem to always be one step ahead of the law enforcement, regulators as well as private sector entities such as banks and scientists. This review examines publishing actions taken throughout the years. It also shows whether there has been any correlation spotted between the number of papers published in a particular year and the events on the financial markets. The study involved a systematic literature review to achieve the set goals. Following the final results of the article, it is clear that the issue of financial frauds has been a growing global concern. It is crucial to strengthen the collaboration between the regulators, law enforcement, academic environment and private sector. Cooperation across the sectors should include research on how to prevent and mitigate the consequences of this kind of frauds
Evaluation of the impact of the COVID-19 pandemic on the financial health of commercial insurance companies in the Czech Republic
Full text linkThis article focuses on assessing the impact of the COVID-19 pandemic on the insurance operations of commercial insurance companies in the Czech Republic. The aim of the article is to determine the impact of the pandemic on the financial health of commercial insurance companies in the Czech Republic. In order to achieve this, ratio indicators suitable for measuring the financial health of commercial insurance companies, such as the growth rate of premium income, cost-effectiveness, profitability or solvency, have been employed. Because insurance activities in non-life and life insurance differ and show different values of ratio indicators of financial health, insurance companies have been divided into two groups: those with a predominance of life insurance and those with a predominance of non-life insurance. The impact of the pandemic on the financial health indicators of individual commercial insurance companies has been monitored. The period from 2016 to 2021 has been selected to determine the impact of the pandemic. The authors have used data from the statistics of the Czech Association of Insurance Companies and annual reports of insurance companies
Application of a single-equation SARIMA model for short-term conditional forecast (projection) of CPI price dynamics in Poland
Full text linkThe aim of the article is to construct an optimal SARIMA model for short-term conditional forecasting (projection) of the dynamics of prices expressed by the Consumer Price Index (CPI), as understood within the extended Box-Jenkins procedure. The construction of such a forecast aims to influence, through the expectations channel, the institutional trust of society in monetary authorities and assess the effectiveness of achieving the monetary policy goal within the framework of the democratic responsibility of the decision-making body of the National Bank of Poland – the Monetary Policy Council. The selection of the optimal SARIMA model was carried out using an iterative method within the Box-Jenkins procedure, with the goal of reducing the systematic bias of estimators – coherence with empirical data. The analysis was conducted on compiled secondary data of the monthly Consumer Price Index for goods and services from the Central Statistical Office for the years 2010-2023 (on a monthly basis). Results show that the short-term forecast demonstrated accuracy within a specified confidence interval. The application of the SARIMA model serves as a useful methodological tool for constructing elaborate DSGE models (for example, the NECMOD model) using procedures such as SEM (System for Averaging Models) from Norges Bank
Unveiling financial well-being: Insights from retired people in Third Age group in Poland, Spain and Denmark
Full text linkThe study investigates the financial well-being of older people in Poland, Spain and Denmark, with a particular focus on their ability to make ends meet. Using data from the SHARE survey to analyse retired individuals aged 65 to 79 years, it aims to identify the socio-economic factors that influence financial well-being among older people in these countries. In terms of methodology, it uses Light Gradient Boosting Machine algorithm and SHAP value calculations to predict the ability to make ends meet and determine the importance of 167 various features. The study concludes that household income and financial resources are the primary determinants of older people’s ability to make ends meet. The findings underscore the need for policymakers and practitioners the fields of ageing and economics to address specific challenges, such as housing costs in Denmark and food expenditure in Poland and Spain, to improve the financial well-being of older individuals
Innovation and Industry 4.0 in building the international competitiveness of food industry enterprises: The perspective of food industry representatives in Poland
Full text linkThe aim of the research is to determine the impact of innovations and Industry 4.0 solutions on the international competitiveness from the perspectives of representatives of food industry enterprises. The empirical layer used information collected on the basis of a survey using the CATI method conducted on a representative sample of representatives of food industry enterprises. Descriptive statistics, the Kruskal-Wallis test, Mann-Whitney test, multiple comparison test and box-plot plots were used to analyse the data. The study confirmed that implementing certain innovations and solutions, both intangible and tangible, is important for maintaining and improving competitiveness on the international market. This applies particularly innovative, modern ways of reaching the customer, developing innovative products, the use of IT systems and the use of innovative methods in advertising and promotion. The conclusions present direct implications for managers of food enterprises who formulate competitive strategies