War in Ukraine and the Russian annexation of Crimea are the events that changed the US policy towards Russia. The events in Ukraine forced the United States to take a closer look at Eastern and Central Europe. The United States’ policy during the Ukrainian crisis has been limited to sanctions and strong statements so far because in Ukraine there is an asymmetry of interests. Ukraine is much more important to Russia than to the United States. The United States may be willing to support the democratic and western aspiration of Ukrainians but will not risk a major conflict with Russia over it. However the crisis in Ukraine is not only about Ukraine or Russia. It is also about US credibility around the world. Both friends and foes are watching closely the American reaction to the situation. That is why the United States has increased its military presence in those NATO countries that share borders with Russia.
The article focuses on Polish socio-economic coherency in the European and regional context during post WWII period. The author argues that the source of this incoherency are faulty mechanisms, its economic, social and regional policies which were before the transformation based on central coordination of strategies and later, prior to Polish membership in the EU, due to autonomic processes. Much of the weaknesses after accession of Polan to the EU have been due to mixed policies practiced. This has been based on competitive harmony in which economic, social and territorial coherence that is augmented by open coordination methods at union, national, regional and sub-regional levels. It is not sufficient applying socio-economic coherence to processes of eliminating disproportions existing in regional development. Their practical utility requires taking cognizance of the specificity of local material, human and social capital resources. The key issue of socio-economic coherence is harmonizing the development of all aspects of human living.
Lack of comprehensive and authoritative analysis of systems and management processes often leads to less effective implementation and the reduced efficiency of the entire organization. An essential part of this analysis is to identify the most important factors affecting the basic parameters and their measurement processes. The paper presents basic issues in identifying complex organisational systems, particularly measuring phenomena that occur in them. It includes both static (state identification) and dynamic (the identification of changes and processes) measurement factors. It also examines requirements for the scales of measurement used to characterise systems and management processes.
W artykule przedstawiono istotę szkoleń pracowniczych: tradycyjnych i e-learningowych oraz ukazano ich znaczenie w rozwoju organizacji i jej pracowników. Przyjęto założenie, że organizacja nie powinna planować szkoleń, w tym również e-learningu, bez pogłębionej analizy potrzeb i spodziewanych korzyści, które w ostatecznym rachunku powinny prowadzić do poprawy wyników firmy. Podano definicję oceny skuteczności i efektywności szkolenia, a także scharakteryzowano finansowe i behawioralne modele badania efektywności szkoleń pracowników i pomiaru kapitału intelektualnego. Wśród tradycyjnych metod oceny skuteczności szkolenia opisano model Kirkpatricka, model Hamblina, metodę Phillipsa, technikę C-I-P-O oraz tzw. Monitor Aktywów Niematerialnych Sveiby’ego, który po odpowiedniej modyfikacji, tj. dodaniu kilku wskaźników zaproponowanych przez autorów artykułu, może być wykorzystany do oceny efektywności e-learningu analizowanej w kontekście wielokryterialnej oceny wyników firmy. Wymienione narzędzia badawcze uzupełniono o prezentację współczesnych rozwiązań, a w szczególności zaprezentowano model finansowy pomiaru kapitału ludzkiego Dobii oraz behawioralny model oceny wykorzystania e-learningu w firmie autorstwa Choya. Uznano, że metody te mogą stanowić samodzielny system oceny e-learningu korporacyjnego, jak również mogą w istotny sposób uzupełniać system miar obiektywnej natury zawarty przykładowo we wspomnianym Monitorze Aktywów Niematerialnych czy metodzie Balanced Scorecard, zwanej przez polskich autorów Strategiczną Kartą Wyników.
EN
This article presents the nature and essential features of traditional and e-learning employee training as well as the significance of both methods for development of organizations and their employees. It defines the assessment of effectiveness and efficiency of training and describes financial and behavioural models used to assess efficiency of employee courses and to measure intellectual capital. Among traditional methods applied to assess effectiveness of training the article presents Kirkpatrick’s model, Hamblin’s model, Philips’ method, C-I-P-O technique, and the devised by Karl-Erik Sveiby Intangible Asset Monitor which appropriately modified by adding several indicators proposed in the article may serve in a company to assess e-learning efficiency analysed in the context of multi-criteria assessment of the company’s performance. The mentioned research tools are complemented by presentation of modern solutions, with particular consideration given to Dobija’s financial model of human capital measurement and Choy’s behavioural model devised to assess e-learning efficiency in companies. It has been concluded that the methods may function as autonomous e-learning assessment system. They can also substantially complement the system of measurement of objective nature included for example in the mentioned Intangible Asset Monitor or the Balanced Scorecard method.
The economy of Germany plays a significant role in the world space and must maintain its position among the dominant leaders. It manifests itself both in terms of the size of the economic potential and in terms of multiple impact on the socio-economic life of individual countries. This idea is referred to in this paper, the aim of which is to present the trade relations of the German economy with other countries in terms of trade turnover. Trade exchange is an important factor influencing the economic activation of a given country. This process is illustrated by the analysis of the international trade exchange of the German economy in 1991-2019. A characteristic feature of the turnover is a positive trade balance in terms of values, and negative in terms of goods weight. The dominant importance in terms of export are products requiring technical expenditure (machinery and equipment, chemicals), while in terms of import, less processed products, mainly fuels, raw materials and foodstuffs. In the world space, there is a very strong concentration of both export markets and import sources. On the one hand, they indicate strong economic ties with the dominant world economies and, on the other hand, seek opportunities for connections with countries with a lower level of economic development, mainly using their raw material resources. In this way, the German economy engages in competitive relations with the dominant countries, both in terms of the possibility of expanding its own sales markets and the possibility of ensuring raw material sources, especially energy and for the electronics industry.
PL
Gospodarka Niemiec w światowej przestrzeni odgrywa znaczącą rolę i musi dbać o utrzymanie swojej pozycji wśród liderów. Przejawia się ona zarówno pod względem wielkości potencjału ekonomicznego, jak i w zakresie wielorakiego oddziaływania na życie społeczno-gospodarcze poszczególnych krajów. Do tej idei nawiązuje niniejsza praca, której celem jest przedstawienie powiązań handlowych gospodarki niemieckiej z poszczególnymi krajami w zakresie obrotów handlowych. Wymiana handlowa jest bowiem ważnym czynnikiem wpływającym na aktywizację gospodarczą danego kraju. Proces ten ilustruje analiza międzynarodowej wymiany handlowej gospodarki niemieckiej w latach 1991-2019. Cechą charakterystyczną obrotów jest dodatnie saldo handlowe w zakresie wartości, natomiast ujemne, w zakresie masy towarowej. Dominujące znaczenie w eksporcie mają produkty wymagające nakładów myśli technicznej (maszyny i urządzenia, chemikalia), natomiast w zakresie importu produkty mniej przetworzone, głównie paliwa, surowce i artykuły spożywcze. W przestrzeni światowej występuje bardzo silna koncentracja zarówno rynków eksportowych, jak i w zakresie źródeł importu. Wskazują one z jednej strony na silne powiązania gospodarcze z dominującymi gospodarkami światowymi a z drugiej - szukania możliwości powiązań z krajami o niższym poziomie rozwoju gospodarczego, wykorzystując w głównym stopniu ich zasoby surowcowe. W ten sposób gospodarka niemiecka włącza się w relacje konkurencyjne z dominującymi państwami zarówno w zakresie możliwości rozszerzanie własnych rynków zbytu, jak i możliwości zapewnienia źródeł surowcowych, zwłaszcza energetycznych i dla przemysłu elektronicznego.
Purpose – This paper aims to verify how the intellectual property (IP) box affects firms’ effective tax rate, growth and innovation activity outcomes related to intellectual property rights. Design/methodology/approach – Implementing the innovation box regimes into the tax system intends to encourage firms to engage in more innovative activities. In UK, Italy and Poland, the IP box tax relief was introduced in 2013, 2015 and 2019, respectively. In return, companies may reduce their tax rate to increase their investment and innovativeness. With a panel model approach – system GMM and DiD with multiple time periods – it analyses data from the Orbis database for 2011–2019 of 673 firms from the gaming industry in 11 countries and hand-collected data on intellectual property rights protection. The authors study public and private companies from the gaming sector in leading European markets and all three countries that protect intellectual property rights of software (Japan, South Korea, the USA). Findings – Recent reforms enable gaming companies to use preferential tax treatment for IP-related income and significantly impact a firm’s revenue growth. Practical implications – Nevertheless, European gaming firms require time to leap the gap to the growth and innovativeness of countries that protect software. Originality/value – The authors show that the IP box stimulates gaming firms to protect IP via wordmarks, figurative marks, trademarks and software patents that bring effects in five years. Despite the critics against IP box, the authors prove its lagged efficiency, especially in profitable and larger firms.
Statistical learning models have profoundly changed the rules of trading on the stock exchange. Quantitative analysts try to utilise them predict potential profits and risks in a better manner. However, the available studies are mostly focused on testing the increasingly complex machine learning models on a selected sample of stocks, indexes etc. without a thorough understanding and consideration of their economic environment. Therefore, the goal of the article is to create an effective forecasting machine learning model of daily stock returns for a preselected company characterised by a wide portfolio of strategic branches influencing its valuation. We use Nvidia Corporation stock covering the period from 07/2012 to 12/2018 and apply various econometric and machine learning models, considering a diverse group of exogenous features, to analyse the research problem. The results suggest that it is possible to develop predictive machine learning models of Nvidia stock returns (based on many independent environmental variables) which outperform both simple naïve and econometric models. Our contribution to literature is twofold. First, we provide an added value to the strand of literature on the choice of model class to the stock returns prediction problem. Second, our study contributes to the thread of selecting exogenous variables and the need for their stationarity in the case of time series models.
Celem artykułu jest weryfikacja wpływu obniżonej stawki podatkowej IP BOX na przychody spółek z branży gier komputerowych oraz prawa Gibrata stwierdzającego, że wzrost firmy jest niezależny od jej wielkości. Dynamiczne modele panelowe oszacowane metodą GMM, FE dla danych panelowych i MNK, opracowano na danych 673 spółek z 11 krajów. Wykazano, że małe firmy z branży gier komputerowych rosną szybciej niż ich więksi rywale. Tym samym odrzucono prawo Gibrata. Nie potwierdzono, że IP Box wspiera wzrost przedsiębiorstw z wyjątkiem województwa wielkopolskiego. Większe szanse na korzyści z IP Box (obniżona do 5% stawka podatku dochodowego obowiązująca w Polsce od 2019 r.) mają firmy o bardziej istotnych i dynamicznych zmianach kapitałochłonności, aktywów niematerialnych i zapasów. Branża gier wideo w Wielkopolsce odnosi większe korzyści z IP Box niż w pozostałej części Polski.
EN
This article aims to verify the impact of the reduced IP Box tax rate on the revenues of gaming companies and Gibrat’s Law stating that firm growth is independent of a company’s size. The dynamic panel-data models estimated in this article using GMM, FE panel data and OLS methods were created based on data of 673 companies from 11 countries. We show that small gaming firms are growing faster than their larger rivals. Thus, we reject Gibrat’s Law. We did not find evidence that IP Box supports the firm’s growth except for the Wielkopolskie Voivodeship. More chances for IP Box’s (reduced to 5% income tax rate being in force in Poland since 2019) effects are given to firms with more remarkable and dynamic changes in capital intensity, intangibility and inventory. The gaming industry in Wielkopolska benefits more from IP Box than the rest of Poland.
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.