A unified framework for robust modelling of financial markets in discrete time

Finance and Stochastics - We unify and establish equivalence between the pathwise and the quasi-sure approaches to robust modelling of financial markets in finite discrete time. In particular, we...     

The impact of selected factors on new business formation in the private healthcare sector

Numerous factors influence the development of the private healthcare sector. Therefore, the selection of these factors, which represent a potential opportunity for forming new entities, is a crucial from the point of view of entrepreneurship. In our research we selected strategic variables which have got direct influence on entrepreneurship in the private healthcare sector in Poland. Theoretical approach was based on literature review which have revealed the main factors and their relationships with entrepreneurship according to the previous research studies. This research study was conducted for the entire population of municipalities in Poland. Methodology was based on Intelligent Data Analysis (IDA) which can be applied for a large amounts of data in order to extract useful knowledge from it. Moreover, in research study were applied explanation techniques – decision rules –in order to indicate, to what extent the environment have influence on strategic choices conditioning the success of businesses. The results have revealed that it is possible to determine a set of the most important factors influencing entrepreneurship in the private healthcare sector in Poland. On the other hand, were indicated these variables which do not participate in process of influencing on entrepreneurship in private healthcare sector in Poland.

     

U.S. food aid and American exports to recipient countries during the Cold War

In this article, we test to what extent the food aid granted by the U.S. during the Cold War was strategically motivated and used to promote U.S. interests. Using the data for the period 1971–1990, we investigate whether U.S. wheat aid had an effect on recipient countries’ total import of American products. The evidence we provide suggests a positive and robust relationship and thus it is consistent with the argument that U.S. food aid helped to create larger markets for U.S. producers.     

Dynamics of price level changes in the Visegrad group: comparative study

Quality & Quantity - In Poland, as in many other countries, to measure inflation, expressed both by the CPI and HICP, the Laspeyres price index with weights from the base period is used. Thus...     

Does CEO gender matter for bank risk?

This paper addresses the relation between CEO gender and bank risk. We exploit a unique dataset of 365 Polish cooperative banks, 42% of which are run by female CEOs. We find that banks headed by female CEOs are less risky: they report higher capital adequacy and equity to assets ratios. Credit risk in female-led banks is not different from male-led banks, and therefore higher capital adequacy does not stem from lower asset quality and is likely to be linked to higher risk aversion of female CEOs. Our evidence supports the view that women are more risk averse bank CEOs than men. Our findings suggest that gender quotas in bank boards can contribute to reduce risk-taking behavior.     

员工企业社会责任感知影响人力资源管理效能？—基于领导行为的协同中介

通过对贵州、广东和福建3个省80家企业1148名员工进行调研,基于员工对企业社会责任、领导行为感知对人力资源管理效能带来积极影响为研究问题构建了一个中介模型。企业社会责任在组织微观层面的内涵越来越得到企业的重视,实现了员工的企业社会责任由产出需求转向投资视角,成为企业满足员工工作需要和工作资源的参照标准体系,有利于提升企业人力资源管理效能。本文研究发现:企业社会责任分别从企业经济责任、法律责任、伦理责任和自行裁量责任影响人力资源管理效能;变革型领导和交易型领导对企业社会责任和人力资源管理效能具有协同中介作用。研究结论对于企业社会责任、领导行为和人力资源管理三者匹配具有重要的理论和现实意义。     

Innovativeness of railway transport in the context of the development of tourism in Poland

Quality & Quantity - The article discusses the issue of innovation activities of companies in railway transport in Poland in the context of the development of tourism. Transport infrastructure...     

Visitors’ diversified motivations and behavior – the case of the pilgrimage center in Krakow (Poland)

The article presents the visitors’ motivations and behavior at the pilgrimage center in Krakow (Poland). Here, the relation between these elements, i.e. whether their motivations have a correlation with what buildings they visit, is emphasized for the first time. The most important motivations for visits were religious and tourist ones, often rated equally high by the same respondents. They visited religious, cultural and tourist buildings and facilities. The stay of visitors with religious motivations was not limited to religious practices, but was extended by tourist behavior. Similarly, visitors with tourist motivations visited religious buildings and participated in religious practices. However, they visit tourist and cultural facilities more often. Additionally, the three groups of respondents were categorized and, on the basis of importance of the religious and tourist motivations, three types were distinguished, i.e. pilgrims, religious tourists and tourists. Their characteristic has been expanded by the analysis of their behavior. Nowadays, visitors’ motivations and behavior at pilgrimage centers include those typical for pilgrims and tourists in the traditional meaning. In addition to their religious function, these sites offer cultural and tourist facilities. The article highlights the dedifferentiation approach to visitors’ motivations and behavior, and in respect of the spatial organization of pilgrimage centers.     

The Oaxaca–Blinder Unexplained Component as a Treatment Effects Estimator

In this paper I use the National Supported Work (NSW) data to examine the finite‐sample performance of the Oaxaca–Blinder unexplained component as an estimator of the population average treatment effect on the treated (PATT). Precisely, I follow sample and variable selections from Dehejia and Wahba (1999), and conclude that Oaxaca–Blinder performs better than any of the estimators in this influential paper, provided that overlap is imposed. As a robustness check, I consider alternative sample (Smith and Todd, 2005) and variable (Abadie and Imbens, 2011) selections, and present a simulation study which is also based on the NSW data.