Sector In Poland Research Articles

Changes in industry and services sectors in Poland during the COVID-19 pandemic

In 2020, the World Health Organization announced the global COVID-19 pandemic, which was followed by unprecedented constraints on society and the economy. The restrictions imposed had an impact on the transformation in industry and services sectors. The pandemic, however, affected particular industry sections and types of services to a different degree. Overall, the industry sector is assumed to have been less affected by the crisis, because the government restrictions did not embrace industrial production for the most part. Services faced a different situation; some of them were not provided due to top-down decisions. Therefore, the vulnerability of industry and services to such a strong external impact varies. The article aims to identify the degree and trends in changes in industry and services sectors during the COVID-19 pandemic and to determine the regularities stemming from a different degree of vulnerability of both sectors to such a powerful external stimulus. The study examines changes occurring in different industries and types of services (by the Polish Classification of Economic Activity/NACE 2.0) by way of statistical indicator analysis and using Statistics Poland and Eurostat data.
 The conducted analysis of the COVID-19 pandemic influence on the industry and services sector leads to the conclu- sions that its impact on the industry sector was very time-limited—a sharp fall in gross value added in industry oc- curred mainly in the second quarter of 2020. The pandemic had a modest effect on industry employment, primarily as a result of anti-crisis shields and the will to maintain the potential of labour resources. In the services sector, accommo- dation and food services suffered the most. The significant falls were noted in the transport section as well as cultural, sports and personal services. Business services which were transferred to the Internet and were provided online ended up the most resilient. The ultimate winner of the pandemic is ICT services, especially electronic ones, which have re- placed, wherever possible, traditional types of services.

Koncesje na roboty budowlane lub usługi – przeregulowana instytucja prawna

The public sector in Poland is currently facing ever newer challenges related to the implementation of public tasks for which it is not always sufficiently prepared for. One of the possible legal forms of fulfilment of public tasks are concessions for works or services. The author reviews the legal regulations that govern the issue of concessions, coming to the conclusion that the less the legislature interferes in the regulation of the procedure for granting concessions for works or services, the greater the practical significance of the concession. He also points to the quality of the proposed legal regulations in this area and their intricateness. The article presents some thoughts on the future directions of change in the regulations regarding concessions for works or services.

Determinants of Return-on-Equity (ROE) of Biogas Plants Operating in Poland

Poland has a large potential for biogas production from agricultural sources and food waste. This potential is still poorly used. There are many reasons for this state of affairs. We can indicate both the policy of the state towards renewable energy sources (RES) with a small amount of energy from biogas contracted at auctions, investment risk, and especially low return on investment in the absence of investment support. An important reason is also the limited state budget. The purpose of this work was to determine the endogenous factors that determine ROE, the direction of the impact of these factors, as well as the strategy of biogas plants in shaping the ROE level. The DuPont model was used in the analysis of ROE changes. We used the deviation method to determine the impact of the various factors on ROE. Against the background of the energy sector in Poland, the value of ROE in the examined biogas plants should be considered satisfactory, and in 2020 it was, on average, 13.9%. The decrease from 17.2% in 2019 occurred despite the increase in energy prices and the increase in the net profit margin (NPM). It resulted from the reduction of ROE’s financial leverage through external capital. A high level of debt characterized the examined biogas plants, and the pursuit of risk reduction and debt reduction negatively impacts on ROE. This may indicate the need for state investment support at the plant construction stage or low-interest investment loans to develop biogas plants. In addition, using only price guarantees under the feed-in tariffs, with dynamic changes in costs, may bring the industry a relatively high investment risk compared to other RES, where the operational costs during the lifetime are low, as it is in PV or wind systems.

Assessment of Financial Security of SMEs Operating in the Renewable Energy Industry during COVID-19 Pandemic

Today, one of the main priorities in Europe is to introduce measures to increase environmental protection. Therefore, SMEs operating in the branch related to renewable energy are essential for several EU priorities. SMEs can also be vulnerable, especially during times of crisis, which could negatively affect renewable energy development. Therefore, this paper aims to evaluate and analyze the financial security management of renewable energy SMEs during the COVID-19 pandemic. The research is conducted on SMEs operating in the renewable energy sector in Poland. The research periods are 2019 (before the COVID-19 crisis) and 2020 (during the crisis). By analyzing different financial performance ratios, we found that SMEs operating in the energy sector have been able to stabilize and maintain their current economic position compared to the past. The results of this study indicate that the receivables collection period, cash conversion cycle, and operating cycle could have been insignificantly shorter during the COVID-19 crisis. Furthermore, to have stronger financial security, SMEs have adopted a conservative policy in which the share of accounts receivable in current assets has been significantly reduced during COVID-19. In contrast, an insignificant increase in liquidity, quick ratios, and inventory turnover have been observed. In general, Polish SMEs have chosen to adopt conservative strategies during COVID-19 to have better liquidity security.

Salaries in the financial statements of companies from the biotechnology sector in Poland in 2019-2021

Purpose of the study: The aim of the paper is to capture the proportion these benefits make in total costs of the company Categories of employee benefits included in accounts of companies listed on the Warsaw Stock Exchange in the sector of biotechnology is the subject of this paper.
 Methodology: Systematic literature review and critical analysis of accounts were used for the purpose of this article.
 Main findings: The analysis demonstrated that employee benefits play a significant part in the operations of companies within biotechnological sector in Poland. Use of relatively high benefits not only offers operational stability, future growth, better staff retention, lower stoppage through loss of personnel, but also better employee engagement and personal development.
 Applications of the study: The article highlights the importance of employee benefits within the biotechnological sector, which is characterised by deferred income from productionisation of research and its results. This results in better understanding of biotechnological companies’ operational model and its specificity. The results can be applied within other capital investment heavy sectors such as gaming or IT, which also generate high costs and expenditure due to its nature.
 Originality/Novelty of the study: The analysis of employee benefits presented in consolidated financial accounts has been identified as a very interesting research gap due to its complexity. Research studies of this subject in Poland are limited despite the importance of benefits to all employees. They are equally important to the enterprises wishing to deliver their objectives and strategies. The article calls for further research, analysis, findings and their implementation in various sectors as well as deeper studies of the subject.

Tourist mobility of Polish residents in the context of the COVID-19 pandemic

The purpose of this study is to identify the impact that the COVID-19 pandemic had on the tourism sector in Poland in terms of the tourist mobility of Poles, i.e., on the volume and nature of tourist trips of Polish residents. It is based on a comparison of the numbers and natures of tourist trips made during the pandemic (2020–21) against the preceding period (2018–19). This study is based on data from Statistics Poland collected from several hundred thousand participants (an average of over 136,000 people surveyed annually). The study discusses changes in: Polish residents’ level of participation in tourist trips; the number and breakdown of tourist trips; and the reasons/purposes for tourist trips. In addition, changes in the breakdown of transport used during tourist trips are shown. Changes observed in tourist travel expenses from 2018 to 2021 are also discussed. Another subject of our analysis is changes in tourist travel destinations and the seasonality of these trips.

Demographic and Socio-Economic Factors as Barriers to Robo-Advisory Acceptance in Poland

Theoretical background: One manifestation of the use of artificial intelligence technology in financial services is robo-advisory. Automated assistants are used in the area of communication with consumers and the sale of financial products. The development of robo-advisory services may contribute to increasing the availability of financial services and the cost efficiency of banks’ operations. So far, however, robo-advisory has not been widely used in bank services, and the reasons for this can be seen in the lack of wide acceptance of robo-advisory by bank customers, among other things. Purpose of the article: The aim of this paper is to identify barriers to the acceptance of robo-advisory in the services of banks operating in Poland. Variables relating to the demographic and socio-economic characteristics of consumers were analysed. Knowledge in this area can provide banks with a practical guideline for activities aimed at increasing acceptance of artificial intelligence technology and wider use of robo-advisory in financial services. Research methods: The paper uses the results of a survey conducted in October 2020 regarding the application of artificial intelligence technology in the banking sector in Poland. The survey included a representative sample of 911 Polish citizens aged 18–65. A multinomial logit model was employed to identify variables that represent significant barriers to robo-advisory acceptance in financial services. Main findings: The conducted research helped identify the barriers to acceptance of robo-advisory among consumers in Poland. A low propensity to use robo-advisory in bank services is characteristic of respondents from older age groups, as well as those who do not show a predilection for testing new technological solutions. Lack of experience in using investment advisory services and customer concerns about the misuse of personal data by banks are also significant barriers.

CSR in mission statements of Polish chemical industry companies (content analysis results)

Due to the specific nature of their activities, chemical companies are exposed to significant reputational risk. One way to reduce this risk is by implementing a CSR policy. CSR can be built into the company’s strategy and communicated as a mission statement. The purpose of the article was to determine: 1. the types of values which chemical industry companies in Poland display in their mission statements, 2. if chemical industry companies in Poland display CSR values in their mission statements, 3. if these companies differ from others operating in the chemical sector in Poland in terms of displaying CSR in mission statements. The research was carried out through the Iramuteq program, which enabled content analysis of the collected research material. A total of 197 missions were analyzed to find that less than half of the examined chemical companies in Poland display CSR-related values sensu stricto in mission statements. It was also found that chemical companies (production-commercial) highlighted CSR values in their mission statements more often than analagous service-trade companies.

Occupational Health and Safety Management in Polish Enterprises. Problems and Challenges

Abstract Research priorities in the field of occupational health and safety in the European Union include research on shaping an organization culture of prevention by introducing OSH management, strengthening the role of corporate social responsibility, disseminating science discoveries and examples of good practice. Ensuring an appropriate level of occupational health and safety not only affects the company’s performance, but is also a legal and social obligation. Compliance with health and safety rules prevents work-related injuries and occupational diseases and is an element contributing to the company’s success. Paper presents research findings in the area of problems concerning occupational health and safety management in SME sector in Poland in the context of its challenges that face different conditions.

Where is the missing value? Evidence from the game industry IPOs underpricing in Poland

Abstract The underpricing phenomenon on financial markets has long been the research subject in many financial areas – from neoclassical to behavioral finance. Once confirmed as a persistent pattern, it has begun an ongoing discussion as to its possible causes. Our study examined the phenomenon of IPO underpricing for companies from the game sector in Poland from 2016 to 2020. Many IPOs in Poland have attracted both international companies and investors, making the Warsaw Stock Exchange a kind of financial hub for game companies. Analyzing the whole IPO market in Poland, we however found substantial IPO underpricing, which is statistically higher in the game sector than in the no-game group of debuting companies. Our research argues that the issuer's industry may influence the size of the IPO's first-day return. We also noticed that the way the IPO was carried out influenced the underpricing. Greater underpricing characterized private offers compared to public offers.

Changes in the Financial Liquidity of Business Entities of the Small and Medium-Sized Enterprises Sector in Poland

Small and medium-sized enterprises are a special type of enterprise. They are characterized by unity of ownership and management, personal responsibility for business activities. Business entities today operate in an increasingly dynamic and complex environment. Small and medium-sized companies are particularly affected by rapid economic, political, social and technological changes. The development of the small and medium-sized enterprise sector depends on external factors that individuals cannot influence, as well as internal factors - determining the opportunities available to the entity and directly influenced by it (e.g., in terms of its resources, level of innovation, efficiency and effectiveness of management). Companies in the SME sector face many barriers in their operations that prevent them from growing. One such barrier may be difficult access to external funding. Raising capital to start and run a business is a very important problem for today's small and medium-sized businesses. The raising of capital, and consequently the handling of that capital, are closely related to development opportunities. Small and medium-sized businesses are an important determinant of the economy in Poland, but also in EU countries and around the world.

Impact of The Coronavirus Covid-19 On Enterprises Sector In Poland - Evidence From The Warsaw Stock Exchange Index

2. Ashraf, B.N. 2020. Stock markets’ reaction to COVID-19: Cases or fatalities? Research in International Business and Finance 54. Google Scholar

Wholesale and retail trade sector in Poland: use of de minimis credit guarantees by micro, small and medium-sized enterprises

Wholesale and retail trade sector in Poland: use of de minimis credit guarantees by micro, small and medium-sized enterprises

Analysis of the Implementation of Functional Hydrogen Assumptions in Poland and Germany

The use of hydrogen exists in various sectors in Poland and Germany. Hydrogen can be used in industry, transport, decarbonisation of the Polish steel industry and as one of the low-emission alternatives to the existing coal applications in this sector. Limiting climate change requires efforts on a global scale from all countries of the world. Significant economic benefits will be realized by stimulating the development of new technologies to deal with climate change. The scenarios show an increasing demand for industrial hydrogen in the future. The key is to replace gray hydrogen with green, and to convert industrial processes, which will create additional hydrogen demand. The condition for the development of a green hydrogen economy is access to adequate installed capacity in renewable energy. Germany will become the leading market in the era of energy transformation in the coming years. The implementation of the hydrogen assumptions in Poland is possible, to a greater extent, by the efforts of entrepreneurs.

COVID-19 as a Source of Failure or a Catalyst for Positive Changes in Business?

Theoretical background: Beyond doubt, the COVID-19 pandemic has caused a series of perturbations in the economies of almost every country in the world. This global crisis has contributed to the business turmoil and has been seen in services in particular. Due to restrictions on economic activity introduced by governments of countries, which were aimed at slowing down the scale of virus infections, many enterprises faced a severe dilemma, i.e. how to continue their activities, how to survive the crisis, and maybe end this activity, or change it into another. For many companies, the pandemic crisis turned out to cause multi-faceted losses and even bankruptcy. But also, some companies saw the crisis as an opportunity to introduce positive changes and gain new sales markets and customers. For these companies, the coronavirus pandemic has become a growth catalyst. Purpose of the article: The theoretical part of the article is devoted to analyzing the literature resources on the coronavirus pandemic and its impact on business. In the practical part, the author explores the results of the quantitative research conducted in 2021 to find out how the coronavirus influenced the functioning of the SME sector in Poland. The author posed the following research questions: How did coronavirus impact the functioning of enterprises? How did companies cope with this crisis? Was the pandemic crisis a source of financial failure or collapse of Polish enterprises? Was it an opportunity for market success? Did the pandemic initiate new business strategies, cause or accelerate changes in the business model? Research methods: The literature review was made using the database of scientific articles in Google Scholar and ResearchGate. The author searched for relevant articles using the following keywords: “COVID-19”, “coronavirus”, “pandemic”, “pandemic crisis”, and “lockdown”. The quantitative study covered 500 Polish business entities operating in production, trade, and services in domestic and foreign markets. There were no limitations regarding the area of activity (according to the Polish Classification of Activities) or the number of years of firms’ presence on the market. The study did not cover large enterprises, i.e. 250 or more employees. Main findings: In general, the coronavirus pandemic caused problems in the market but did not contribute to the drastic collapse of the SME sector, nor was it a catalyst for their spectacular development. The conducted study showed that most companies dealt moderately well with the pandemic crisis. They took remedial action to avoid a complete loss of liquidity, going out of business, and bankruptcy risk. A small percentage saw an opportunity in the crisis or used this time to improve their situation.

Comparative Analysis of Combustion of Qualified Composite Fuel for the Transitional Period in the Household and Communal Sector in Poland

Abstract The article presents the results of laboratory combustion tests of the microbriquette obtained from useless coal (grain class of < 5 mm) generated in the production of “eco-pea” (eko-groszek) coal. The briquettes of 1.5 and 2.5 cm3 were made in a roller press of crushed coal granulation down to 2 mm, mixed with a binder and/or catalytic additives and sorbents, then dried to final moisture of about 7%. The tests were carried out on a specially designed stand enabling to determine the differential curve of the weight loss of samples heated to the ignition temperature and then burnt with laminar airflow by natural chimney draft. Comparative tests were carried out with ecopea coal from the “ZG Sobieski” mine. The results indicate that composite fuels, in the form of microbriquette, ignite faster, burn at a higher temperature and leave less ash when burned than lump coal. The greater reactivity of the briquette concerning the lump coal allows for minimizing the air rate by about 10%, which also reduces the exhaust gas volume by the same amount and the stack losses. It reduces the velocity of dust lifting, which leads to the reduction of their emission.

The Implementation of Space Policy Rules for Development of the Emerging Geographical Regions. Pace Technology Park in Lubuskie Polish Province-a Case Study

The article is devoted to the problems of the growing and developing space sector in Poland, and above all, its impact on building a competitive, knowledge-based economy. The aim of the work was to present the efforts of the regions, focusing on the example of the Lubuskie Voivodeship, aimed at building research, development and implementation infrastructure, thanks to which cooperation is established between the local government at the regional level, the world of science, and enterprises. Thanks to such cooperation, it is possible not only to build real relationships between these environments, and in particular, the result of these interactions will be specific economic cooperation, locating new economic entities in the region, or the formation of new companies operating in the space sector. The main part of the work is a case study which presents the initiative to create a Space Technology Park taken by the local government of the Lubuskie Voivodeship, and carried out jointly with the University of Zielona Góra and Hertz Systems LTD. This is an excellent proof that at the voivodeship level, very important initiatives for the development of the space sector can be undertaken as part of a de facto intraregional regional policy.

The Influence of the COVID-19 Pandemic on the Organisation of Family Life and the Pursuit of Career Aspirations of Mothers Seeking IT Jobs

The article discusses the topic of experiencing the COVID-19 pandemic and its impact on the organisation of family life and the realisation of professional plans of mothers wishing to pursue their ambitions in the IT sector. The starting point for the considerations is a gender- -sensitive analysis of the condition of the IT sector in Poland conducted on the basis of found data, complemented by an exploratory qualitative study conducted in two stages using the technique of Individual In-Depth Interviews (IDI). The study is part of the ongoing POB HERITAGE grant “Women, get to coding! Mapping educational initiatives supporting women. Pilot study”.

Water Energy in Poland in the Context of Sustainable Development

The current production of water energy in Poland is much lower than the theoretical and technical potential. The aim of the article is to analyse the current state of hydropower in Poland as well as the prospects and conditions for development. Poland's total technical hydropower potential is estimated at 12,000–14,000 GWh/year, but currently, approx. 20% of this potential is used. The considerations undertaken in the study concern, for example, pumped-storage power plants and the development of small hydropower plants. Hydropower plants are not only important from the point of view of electricity production and storage, but also fulfill many other functions, including the general social, which is an essential element of the implementation of the concept of sustainable development. The analyses show that the hydropower sector in Poland may be an important element of low-carbon energy and an important element of energy security. Increasing the volume of electricity production from hydropower by 5% will contribute to the growth in CO2 reduction by 140,702 tons. The stabilization function of the power system in Poland is also significant.

The Impact of the COVID-19 Pandemic on the Organisation of Remote Work in IT Companies

Some events in world history have affected global social and economic processes significantly. One such event was undoubtedly the commencement of the COVID-19 pandemic. Being in lockdown with access to the Internet and tools that enable remote working enabled and, in fact, forced a change in the form of work to be fully remote, which was previously difficult to imagine in many organisations. As part of this study of the above phenomenon, research was conducted on employees of the IT sector in Poland. An analysis of survey data showed the impact of individual work modes on productivity ratings and collaboration with other team members; additionally, the findings may indicate behaviour changes among employees caused by employer enforcement of changes in work mode, and the importance of the work mode for employees when taking up employment. Although the end of the COVID-19 pandemic has been officially announced in Poland, its impact on the labour market has been significant. The present study shows the popularisation of remote working and a change in attitude towards this form of performing professional duties.