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EN
The article deals with the phenomenon of the so called 'grey', 'shadow' or 'twilight' economy, which has been assessed here as a function of a given mix of economic policies. This key concept is first defined, then analyzed through the prism of its driving/growth factors. The analysis contains quantitative data illustrating the scale of such factors in Poland (alongside international comparisons). Having catalogued the principal reasons for the prevalence of 'shadow economics', the article endeavors to demonstrate the ramifications of economic activity being undertaken in the 'twilight zone'. Such ramifications are likely to be of a positive and negative nature, however, the latter tend to be - by far - more striking. The phenomenon has been viewed against a backdrop of the Polish economic framework, notably symptoms of over-regulation vis-a-vis the general business environment, with particular references to over-fiscals. The analysis formulates policy orientated conclusions relating to specific areas where reform need be initiated/advanced as well as directions for further research findings in respect of the 'shadow economy'.
EN
The article explores an issue of the internal audit outsourcing. It indicates the differences between internal audit, outsourcing and cosourcing of this service as well as their advantages and disadvantages. Drawing from the research on internal audit outsourcing the recent market trends were identified as well as motivations for choosing different forms of internal auditing.
EN
Firstly, the article endeavors to define the various concept of capitalism as well as to catalogue studies of socio-economic systems contained in contemporary literature. Described are the key drivers of a free-market economy that provide the basis for further classification. Having surveyed diverse models of capitalism, the positions of individual states have been displayed. States classed within individual model groups have been then ranked vis-a-vis their competitive factors. The classification and analyses have subsequently led to a more general recommendation in respect of the desirable direction of economic expansion in Poland.
EN
Corporate longevity is - in essence - determined by a company's intrinsic competitive advantage (sometimes dubbed a 'moat') as well as exogenous factors: from business doing ease - to broader, macroeconomic and strategic factors. In this study, we have endeavoured to compare the business environments and corporate sectors of two recent entrants into the European Union: Estonia and Poland. Overall, Estonia, thanks to greater resolve in post-communist liberal transition, Has consistently ensured a superior corporate governance framework. Surprisingly, it is the macroeconomic and strategic steadiness that led to higher corporate survival in Poland. The global economic crisis of 2007-2009 is expected to further back this claim, as the patterns of macroeconomic growth for both countries are set to widen.
EN
Corporate capital structure has been the subject of extensive research in the last decades. The article briefly examines the existing theories of corporate capital structure. However, applying those concepts in practice has brought mixed results. This study is another attempt to determine capital structure in selected companies as well as analyze impact of the pre-defined debt level on effectiveness of economic entity. Variables like size and sector and their influence on debt-raising ability have also been verified. 10 companies permitted to trade on NewConnect stock market constituted the sample for this study.
EN
The article presents the result of research on en effectiveness of discriminatory models on the example of selected Polish joint-stock companies which declared bankruptcy. Aside from general results describing an effectiveness of discriminatory models on the base of the own research of the authors, a comparison of the received findings with others economists' results of research was made. Moreover, an analysis how the relation of an enterprise with the economic situation impacts on an effectiveness of considered models concerning the forecast of a risk of bankruptcy was carried out.
EN
The starting point of the study has been a survey of indices developed by international economic organizations. Such indices tend to encompass a number of qualitative/quantitative variables relating to economic viability, e.g. economic liberties, budgetary balance, judiciary, technical sophistication, social factors and innovation. Basing on the aforementioned data, the study has focused upon the comparison of both countries' competitive stances and permitted the formulation of certain economic policy guidelines with regard to Poland, which has underperformed Estonia in most of the rankings.
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