Islam-based legal language and state governance: democracy,strength of the judiciary and human rights

Constitutional Political Economy - States embracing Islam-based laws are frequently seen as struggling with establishing democratic institutions, jeopardizing human rights and encouraging executive...     

Bridging the gap: How sustainable development can help companies create shareholder value and improve financial performance

This study examines the effect of integrating sustainability into corporate strategy on various aspects of shareholder value creation and financial performance in the British capital market. The employed method is based on the content analysis of corporate disclosures and a new technique for assessing the adoption of the corporate sustainability concept (embracing the environmental, social, and financial aspects of a company's policies at the same time). Using extensive data of FTSE 350 firms covering the years 2006–2012, 65 companies were selected as meeting corporate sustainability criteria. For the above period, we find that these firms were characterized by higher financial risk exposure, lower asset growth rates, lower BV/MV ratios, lower EVA ratios, and higher MVA ratios. Such relations were generally present among different size and industry groupings. The results support the thesis that firms that incorporate sustainability issues into their business operations are better able to leverage their resources toward stronger financial performance and shareholder value creation than other companies. The paper contributes to the literature by offering a more holistic approach to corporate sustainable performance measurement and shedding additional light on its relation to financial performance in the context of the recent global financial crisis and its direct aftermath.     

Sequential estimation of a location parameter and powers of a scale parameter from delayed observations

The problem of sequentially estimating a location parameter and powers of a scale parameter is considered in the case when the observations become available at random times. Certain classes of sequential estimation procedures are derived under an invariant balanced loss function and with the observation cost determined by a convex function of the stopping time and the number of observations up to that time.     

The Small Border Traffic Zone between Poland and Kaliningrad Region (Russia): The Impact of a Local Visa-Free Border Regime

After Poland’s accession to the EU, the Polish-Russian border became the EU external border. This significantly changed its nature and started the new type of cross border relation. Since 2012, when the Small Border Traffic (SBT) zone came into force, the border has changed its blockade function and started instead to be treated as a resource. The fundamental loosening of the border crossing regime reduced the social and functional distance between Poland and Kaliningrad, and in a broader sense between EU and Kaliningrad. This paper will try to show how small but meaningful initiative, the SBT, has had an impact on cross-border region. The present paper will describe the relationship between larger geopolitical actors and how they affect local border relations. The aim of this paper is to present phenomenon of new visa regime at the Polish-Russian border. The paper likewise describes the impact of the SBT on local communities and their economies, as well as national relations between adjacent countries. The analysis is based on the interviews and surveys conducted in the Polish-Russian border region in late 2014.     

Food choice models and their relation with food preferences and eating frequency in the Polish population: POFPRES study

A sample of 9339 subjects aged 13–75, living in the six macro-regions of Poland rated the preferences of 140 various food products, eating frequency and factors influencing food choice. Four groups of consumers were found: “consumers susceptible to advertising and seeking novel healthy products” (33.2% of the sample), “consumers not taking care of their health” (25.4%), “consumers not susceptible to advertising and taking care of their health” (32.5%), and “consumers insensitive to sensory attributes of fruit and vegetables” (9.0%). Among factors influencing the food choice, sensory and functional factors were significant, and health and price – moderate. Advertising was generally denied as an important factor in food choice. The food choice motives were highly dependent on age and gender, and to a lower extent – on region of residence, size of place of residence, economic condition and education level. Women/girls more often showed pro-health behaviours in food choice, choice motives, preferences and food intake.     

The Use of Information and Communication Technologies (ICTs) in Tourist Information and Promotion of the Polish Carpathians in Foreign Tourism Markets

The recent years have been a time of rapid development of information and communication technologies (ICTs) in tourism. The objective of this article is to analyse and assess the use of ICTs in tourist information and promotion of selected municipalities in the Polish Carpathians, the largest region of mountain tourism in Poland. Particular attention was paid to the activities taken by DMOs, local entrepreneurs and cultural institutions. The use of ICTs in the Polish Carpathians is at a relatively advanced level, but still not sufficient enough to make these solutions a fully effective tool in building a strong regional brand in the international tourism markets.     

Estimation of the equilibrium exchange rate: The CHEER approach

The paper presents the results of an investigation where the concept of a steady-state level of the exchange rate is equated with the capital market equilibrium based on the CHEER approach. The empirical analysis concentrates on Poland, because in this case the assessment of the equilibrium exchange rate is of vital importance. The prospect of the Polish currency joining the ERM2 provokes controversies and requires research into the economic consequences of accession to the EMU. The international transmission mechanisms affecting the Polish economy are identified within the VEqCM framework. The calculations indicate that in the last years of the analyzed sample (i.e. up to December 2006) the zloty/euro exchange rate was slightly overvalued, and the steady-state level was found to have been adjusting to the value of 4.1 zlotys.