CE Special Issue - COVID-19
Challenges of Contemporary Economics


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Volume 14 (2020) Volume 13 (2019) Volume 12 (2018) Volume 11 (2017) Volume 10 (2016) Volume 9 (2015) Volume 8 (2014) Volume 7 (2013) Volume 6 (2012) Volume 5 (2011) Volume 4 (2010) Volume 3 (2009) Volume 2 (2008) Volume 1 (2007)

Volume 3 Issue 3 (2009)

Implications of the Abolition of Milk Quota System for Polish Agriculture – Simulation Results Based on the AG MEMOD Model original article

pp. 5-23 | First published in 24 September 2009 | DOI:

Mariusz Hamulczuk, Katarzyna Hertel


The objective of the study was to asses the economics effects of the dairy policy reformsanctioned by CAP Health Check on the agricultural market in Poland. The paperpresents a theoretical study of the production control program as well as a model basedquantitative analysis of the implications of the reform on the agricultural markets. Thepartial equilibrium model AGMEMOD was used for simulation.The results obtained indicate that the expansion and subsequently the elimination ofmilk quota system lead to the growth of milk production and consumption in Poland whichconfirms the hypothesis derived from theoretical study. As a consequence, the growth ofthe production of most of dairy products and the decrease of their prices is expected. Asthe growth of dairy consumption is smaller than the growth of milk production the increaseof self-sufficiency in the dairy market is predicted.The comparison of the scale of price adjustment resulting from the dairy reform to themarket price changes observed recently leads to the conclusion that global market factorswill probably be more important for the future development of milk production and pricesin Poland than the milk quota abolition. Nevertheless, the reform constitutes a significantchange in business conditions for producers and consumers of milk and dairy products.As a consequence, milk production will become more market based, as far as marketprices, production costs and milk yields are concerned.Simulation results from the AGMEMOD model confirm the opinion brought by otherauthors that the abolition of milk quotas will lead to the decline of dairy farmer income.The main beneficiaries of the reform would become the consumers who could takeadvantage of the decline in prices of the dairy products.

Research of Influence of Creativity and Innovativeness on Development original article

pp. 25-35 | First published in 24 September 2009 | DOI:

Marek Brzeziński, Katarzyna Czop, Agnieszka Leszczyńsk


In the article the research of relations between creativity, innovativeness anddevelopment of organization was presented. In the light of result there is significantinfluence of innovativeness on development of organization and inversely dependency inthe case of its potential. On the results of organization affects innovativeness, butcreativity, as pra-source, affects directly or indirectly on all variables.

Transformation of the Polish Banking Sector original article

pp. 37-54 | First published in 24 September 2009 | DOI:

Marek Stefański


In the post-war period the banking system in Poland underwent two important systemtransitions: after 1946 and after 1989. The third transformation began after May 1, 2004,but it did not have a systemic character. The Polish banking sector started to operate onthe Single European Market. The first part of the paper is devoted to the problems of thebanks’ transformations after 1989 with a special focus on the quantitative developmentof banks in 1989–2008, and on subsequent privatisation and consolidation processes.The former intensified in 1989–1999, and the latter in 1999–2002. The consolidationprocess was very noticeable in the sector of cooperative banks after 1994. The second partof the paper includes an economic and financial analysis of the banks. A lot of attentionwas paid to the liquidity of the banking sector. It was assessed as good, which wasconfirmed by a short-term rating of Moody’s and by the Financial Stability Report 2009,published by the National Bank of Poland in June 2009. The comparison of the net profitof the banking sector in 1997–2008 shows its dependence on the economic situation andpolicy. The number of banks with capital adequacy ratio well above the minimum requiredby the banking supervision is rising. The financial power ratings are not favorable for thedomestic banks. The third part of the paper focuses on the development directions of thePolish banking sector. It may be concluded on the basis of the analysis that privatisationand consolidation processes will be continued. They will concentrate on the capital offoreign banks already operating in Poland. As compared with individual foreign banks,the potential of the Polish banking sector is week. The fourth part of the paper focuses onthe presentation Polish banking sector in the context of European Union banking sector.The paper finishes with conclusions. Generally, Polish banks have to implement a strategyto enable them to compete on the Single European Market, i.e. to look for new revenue sources, to reduce costs and improve their loan portfolios. The comparison of selectedaspects of the Polish banking sector in the most developed EU Member States shows thatthe differences are still too large. Therefore, it seems correct to claim that the Polishbanking system is undergoing another transition. It is adjustment to the Single EuropeanMarket.

Hedge Funds As a Alternative Investment Opportunities original article

pp. 55-70 | First published in 24 September 2009 | DOI:

Michał Falkowski


Hedge fund which became a popular alternative investment is a collective term fordifferent types of investment fund. A common feature of these funds is that they haveabsolute earnings targets, that is they set targets for earnings irrespective of developmentson, for example, the stock exchange.The paper deals with the current problem of the financial crisis and the effect it madeworldwide for many institutional and private investors. It discusses the role played byhedge funds in developments on the financial markets, and to what extent they are affectedby the effects of the crisis, as a recurring feature of every financial crisis. It also showsa wind range of strategies used by hedge funds to achieve their goal.

Organizational Culture as a Factor Leaning Knowledge Management original article

pp. 71-85 | First published in 24 September 2009 | DOI:

Waldemar Walczak


The article discusses subject of the organizational culture and understanding thestrong role it plays in organizations from the point of view in regard to the human capitalmanagement. Basically, culture is comprised of the assumptions, values, norms andtangible signs (artifacts) of organization members and their behaviors. It encouragesemployees to identify their goals with company goals, promotes knowledge sharing leadto increased competencies and team’s effectiveness.The most significant thesis of the article says that organizational culture plays animportant role in the process of knowledge management. Main conceptions of corporateculture as understanding, meaning, the most important aspects indicated changes whichshould be stimulated by transformation of organizational culture and ways of shaping,were shown.

Strategic Dilemmas of Universities original article

pp. 87-93 | First published in 24 September 2009 | DOI:

Radosław Ryńca, Joanna Radomska


The article describes the difficult choices that are now concerning the universities.Authors are trying to show the dangers connected with insufficient strategic orientationand find the possible direction of adapting to the market conditions.

Risk Factors in ERP Implementation Projects for Process Oriented original article

pp. 95-104 | First published in 24 September 2009 | DOI:

Andrzej Partyka


This paper present review and analysis of risk factors, which could affect successfulimplementation of ERP system, for project performed in project oriented organizations.Presented risk breakdown structure and the list of common risk factors, are well-suitedfor ERP implementation projects. Considered risk categories allow for complex riskanalysis. Additionally, mapping of risk importance for particular implementation phasesis presented. Making presented model an important input for project risk managementprocess, especially for the beginning phases which require identification of risk factors.

Pension Systems in Europe. Case of Croatia original article

pp. 105-114 | First published in 24 September 2009 | DOI:

Jarosław Poteraj


The article presents an insight into the old age pension system in Croatia. Theintroduction is followed by four topic paragraphs: the general information about thecountry, the historical development of its pension system, the present situation, andchallenges and foreseen changes. There, the author’s goal was to present both past andpresent solutions employed by the Croatian’s pension system, in search for ideas worthconsideration in international comparisons. In the summary, the author highlights thatCroatia is a country with great potential but at present it is difficult to identify solutionsworth copying in other states.

The Mix of Accountancy Policy and Tax Strategy in Company’s Financial Result original article

pp. 115-132 | First published in 24 September 2009 | DOI:

Rafał Marciniak


The use of legally possible accountancy methods may influence entrepreneurs’ realeconomic situation as well as their ability to perform in the future. This article presentsan introduction to the problems of decision dilemmas in the area of balance law. A futureresult-oriented approach to the accountancy policy requires devising a method whichwould help choose an optimal variant among the least risky ones.Since a choice dilemma deals with future and uncertain events, it is necessary toapply statistical analysis with its rules of inference. Because of the changing environment,this issue poses a complex decision problem in conditions of uncertainty. It, therefore,means that the rules of probability theory need to be used in the inference process. Withsubjective probability it is then possible to calculate the value of expected profits anddefine the risk of the variants within the discussed accountancy policy.


The Adaptive Capabilities of Organizations. Case of Polish Public Hospitals original article

pp. 133-146 | First published in 24 September 2009 | DOI:

Mariola Ciszewska-Mlinaric


Information gathering and analysis, reaction design and implementation, andactivities correction and learning are three types of adaptive capabilities connected tothree phases of organizational adaptation to the environment. The primary objective ofthis article is to present how adaptive capabilities of high and low performers differ. Inthe second part of the article the key factors influencing the adaptive capabilities of Polishpublic hospitals will be identified and examined.


Pharmaceutical Distribution Market Channels in Poland original article

pp. 147-159 | First published in 24 September 2009 | DOI:

Agnieszka Woś


Distribution on the pharmaceutical market in Poland is interesting and the mostdifficult sphere to manage. Numerous varied and specialized companies operating on themarket cause that the processes of choosing middlemen in distribution channels are verycomplex. The hereby article presents the role and location of the companies operatingwithin distribution channels on the pharmaceutical market. It draws attention to thedevelopment of non-pharmacy and non-wholesale sales channels.


Advantage from Funding Durable Centers Leasing original article

pp. 161-173 | First published in 24 September 2009 | DOI:

Alina Zając


In present market conditions huge number of businessmen has problems from gainover from banks capital on purchase of durable centers not only, but also on develop -ment and operating activity Individual can use with different forms funding investment,it which is between different leasing.


Miscellany to the epistemology of enterprise original article

pp. 175-194 | First published in 24 September 2009 | DOI:

Julian Daszkowski


Wiele współczesnych polskich opracowań problematyki przedsiębiorstwa zawiera opinie, że „Pojęcie przedsiębiorstwa nie jest jednolicie definiowane i interpretowane."1, że w licznych podręcznikach ekonomii po prostu pomija się jego definicję2, że choć „ogłoszono już dziesiątki teorii przedsiębiorstwa" to „brakuje tej jednej - potrzebnej."3. Taki stan rzeczy jest uważany za niezadowalający, co motywuje do podejmowania co raz to nowych prób zdefiniowania pojęcia przedsiębiorstwa.