Journals UITM University of Information Technology and Management
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EUROPEAN UNION REGIONAL POLICY FUNDING AND THE CHALLENGES OF THE 21ST CENTURY
No full textPolityka regionalna UE jest tematycznie uporządkowanym, wytyczanym przez ośrodek decyzji, działaniem mającym na celu, przy pomocy zespołu instrumentów prawnych i finan-sowych, usunięcie dysproporcji w rozwoju gospodarczym i społecznym regionów w UE oraz zapewnienie zrównoważonego wzrostu wszystkich jej obszarów z zachowaniem jej wewnętrznej spójności ekonomicznej i społecznej”. W Unii Europejskiej zawsze istniały regiony o zróżnicowanym poziomie rozwoju go-spodarczego. Problem ten dotyczył i dotyczy także najbogatszych państw Wspólnoty. Ty-powym przykładem takiego państwa są Włochy, gdzie bogata północ kraju przeciwstawiana jest biednemu południu (region Mezzogiorno). Zróżnicowanie regionalne Unii Europejskiej powiększyło się jeszcze w związku z ostatnim rozszerzeniem Wspólnoty (2004 r.). Władze unijne zawsze uważały, że zróżnicowanie poziomu rozwoju ekonomicznego poszczegól-nych regionów Europy jest zjawiskiem niekorzystnym, prowadzącym do zmniejszenia spo-istości poszczególnych państw oraz Unii jako całości. Ostatecznym rezultatem powyższego zjawiska miałoby być zahamowanie procesów integracyjnych. W związku z tym postano-wiono te różnice zniwelować poprzez wprowadzenie w życie polityki regionalnej i powią-zanej z niąściśle polityki strukturalnej. Pojęcia „polityka regionalna” i „polityka struktural-na” używane są często zamiennie, ponieważ ponad 90% środków przeznaczonych na poli-tykę strukturalną jest ściśle powiązane z polityką regionalną. „Zasadniczym celem wspólnej polityki regionalnej jest zmniejszenie bieżących problemów regionalnych w skali UE, występujących zarówno w tradycyjnie mniej rozwiniętych regionach, jak i w regionach wciągniętych w proces transformacji przemysłowej i agrarnej i zapobieganie nowym zróżnicowaniom regionalnym, czyli innymi słowy, redukcja różnic gospodarczych i społecznych między najbiedniejszymi i najbogatszymi regionami Unii". Jednocześnie należy dodać, że zmniejszanie różnic w rozwoju społeczno-gospodarczym pomiędzy regionami Unii Europejskiej jest elementem unijnej polityki spójności ekonomicznej i społecznej
SKUTECZNOŚĆ POLITYKI PIENIĘŻNEJ NBP W ASPEKCIE CELU INFLACYJNEGO
Get PDFSkuteczność polityki pieniężnej jest pojęciem trudnym do jednoznacznego zdefiniowania. Sama polityka pieniężna w systemie gospodarczym może mieć różny charakter, chociażby ze względu na różne metody jej realizacji. Ocena skuteczności polityki pieniężnej po raz pierwszy została zainicjowana przez monetary-stów. Teza, iż polityka pieniężna w krótkim okresie może okazać się bardzo skuteczna, lecz w dłu-gim terminie odwrotna w skutkach, rozpoczęła dyskusję nad skutecznością polityki monetarnej. Skuteczność polityki monetarnej jest istotnym czynnikiem, który może pobudzać strefę gospo-darczą kraju. Im wyższa jest skuteczność realizowanej polityki monetarnej, tym lepsze są perspek-tywy na osiągnięcie założonych celów zarówno w wymiarze ekonomicznym i społecznym. Opracowanie jest próbą zdefiniowania pojęcia skuteczności polityki pieniężnej i określenia czynników, które ją determinują. Bezpośrednim celem artykułu jest retrospektywna analiza czynni-ków skuteczności polityki pieniężnej, prowadzonej przez Narodowy Bank Polski w latach 1990-2003, pod kątem realizacji celu inflacyjnego
MEASUREMENT OF INTELLECTUAL CAPITAL AS EXEMPLIFIED BY METHODS OF GROUPS BASED ON THE ROA INDICATOR AND ON MARKET CAPITALIZATION
Get PDFThe concept of a knowledge-based economy is a relatively new topic, but it does not mean that the previous economies did not use knowledge. For many years, knowledge formed the basis of any economy, it was a factor that set the pace of each of them, but just nit is making a significant impact on the entrepreneurial environment, and more. Inherent KBE is the concept of intellectual capital. The article raises both theoretical approaches towards the concept of intellectual capital, and points to the importance (from the point of view of managing this intangible value in the company) –of measuring intellectual capital. The process of good management of the value of intangible assets must be supported by knowledge about, e. g., its size, value, etc. The authors focus on presenting methods of measuring intellectual capital from two groups of methods by the classification made by K. E. Sveiby, who is considered one of the fathers of the IC concept. The goal of the article is to compare methods from these two groups in terms of their flaws and advantages as regards preparing business analysis
GANT DEVELOPMENT SA – THE EFFECTIVENESS OF BANKRUPTCY PREDICTION MODELS IN CASE OF SUDDEN BANKRUPTCY. CASE STUDY
Get PDFCompany bankruptcies are an inseparable element of market economy. We may observe the tendency to view bankruptcy as a problem of weak and usually small entities facing problems when trying to meet the challenge posed by strong competition. Big companies, however, also fall, and their bankruptcy cannot be predicted by even the most experienced analysts. The aim of the article is to examine the effectiveness of the bankruptcy prediction models in case of sudden bankruptcies,on the example of Gant Development S.A. The author attempts to classify the real estate developer’s bankruptcy as “staged” bankruptcy by performing an analysis of company activities in the period of 2010-2013. The study was conducted using Polish models of linear discriminant analysis, widely popular in the Polish literature as well as the models which reflect the branch specificity of the examined entity
EXPENDITURES ON HEALTHCARE VERSUS HEALTH CONDITIONS AMONG NEW MEMBER COUNTRIES OF THE EU
Get PDFThe aging population, the increasing number of lifestyle diseases and the increasing proportion of difficult-to-cure illnesses in the EU demands the use of modern medicine and modern medical technology. Such a situation leads to an increase of funds spent on the health sector. Therefore the question arises as to whether it is possible to find the link between expenditure on health and health conditions among societies in the EU countries. This article shows the relationship between health financing and the condition of health in the societies of the new EU Member States
THE IMPORTANCE OF PHILANTHROPIC ACTIVITY AND GOVERNMENT SOCIAL WELFARE FOR SOCIETY AND THE ECONOMY
Get PDFThe purpose of the article is to demonstrate the significance of the activity run by philanthropic organizations in Poland for the benefit of society and the economy in the light of the social welfare of governmental organizations. Verification of hypotheses was conducted using different research methods: regression analysis, hierarchical cluster analysis, trend analysis, and comparative analysis. The results did not demonstrate a significant relationship between local governments’ expenditures on grants for philanthropic organizations fulfilling tasks on social welfare and local GDP. Despite the fact that the level of expenditure of public entities on social welfare goes up with the growth of the number of PBOs, as do their costs and revenues, the figures do not depend on each other
INNOVATION TYPES AT SMEs AND EXTERNAL INFLUENCING FACTORS
Get PDFStimulating innovation is one of the pressing policy challenges facing many countries in the world today. The paper analyses the external factors that Polish entrepreneurs find most detrimental to their innovative activity. A sample of 199 small and medium size enterprises (SMEs) in Poland were subjected to a survey. The data collected revealed the innovation types of SMEs in Poland and external financial factors influencing innovation the most. The results show external factors such as legal regulations, access to external financing, bureaucracy of institutions, financial government support, the tax system, time necessary to comply with regulations, and crisis and instability are very important for SMEs. According to the results, process and marketing innovations are applied more frequently than product and organisational innovations. Finally, the results indicate that entrepreneurs indicate that lack of government support and weakness of tax incentives is an important barrier to the innovation process
RETURN ON CURRENT ASSETS,WORKING CAPITAL AND REQUIRED RATE OF RETURN ON EQUITY
Get PDF The problem of return on current assets and return on working capital related to the cost of equity invested in a company is analyzed in this paper. Risk – return and liquidity – profitability trade-offs influence the company’s equilibrium and management decisions. Liquidity is measured by the cash conversion cycle and it is related to the working capital strategy, measured by current ratio. Rate of return on current assets should be related to the rate of return on working capital that is linked to the cost of capital and the required rate of return. The results indicate that there is a positive relationship between the return on current assets and cash conversion cycle, a positive relationship between cost of equity and return on working capital meaning that the working capital, cash conversion cycle and current assets management are related to profitability, and cost of equity is determined by the required rate of return calculated based on the Capital Asset Pricing Model
REDISCOVERING MISES-HAYEK MONETARY AND BUSINESS CYCLE THEORY IN LIGHT OF THE CURRENT CRISIS: CREDIT EXPANSION AS A SOURCE OF ECONOMIC BOOM AND BUST
Get PDFThe article starts with a brief description of Mises’ monetary theory, with emphasis on the Misesian differentiation of two kinds of credit: commodity and circulation credit, and with the description of the impact of circulation credit expansion on the business cycle. Further on it is described how Mises’ insights constituted the kernel of Austrian Business Cycle Theory, and how the same observations on the nature of credit constituted the kernel of the Chicago Plan (though Mises’ views on the nature of credit led him to different conculsions than it led the authors of the Chicago Plan), and how this plan is being “rediscovered” now. The following sections deal with observations of one of the preeminent current macroeconomic researches, Mr. Claudio Borio, on the elasticity of credit as the source of the current crisis, and on the importance of the financial cycle in analysing the current economic crisis. The author of this text demonstrates that Austrian Business Cycle Theory gave the same answer regarding the sources of economic crises that now modern macroeconomic theory seems to be approaching, and that the postulates for successful financial cycle modeling are already included in the ABCT. Finally, some observations on the current crisis, as well as proposals of avenues of further research are proposed