http://hdl.handle.net/11320/8683 2026-03-16T14:37:49Z 2026-03-16T14:37:49Z Jamróz, Paweł Piekunko-Mantiuk, Iwona http://hdl.handle.net/11320/8696 2020-01-07T09:16:53Z 2019-01-01T00:00:00Z

Tytuł: Assessment of the effectiveness of Polish social responsible company portfolios based on moving averages Autorzy: Jamróz, Paweł; Piekunko-Mantiuk, Iwona Abstrakt: Purpose – Assessment of the effectiveness of portfolios composed of shares of Polish socially responsible companies based on moving averages and determination of their optimal lengths. Research method – The moving average method was used as a part of the technical analysis of companies included in the RESPECT index. Data from the Thompson Reuters database was used using the Metastock XVI program. The research was conducted on daily data from 30/12/2009 to 30/09/2019 (2418 sessions). The strategies used to build the portfolios were optimized to maximize the rate of return. Results – Definitely higher rates of return were obtained by using two moving averages rather than one. Multi-component portfolios based on two averages generated better results than the buy and hold strategy and compared stock indexes: RESPECT, WIG20, WIG30, WIG. There is a different optimal average length for each portfolio tested that should be used to maximize returns. Originality / value / implications / recommendations – According to the authors’ knowledge this paper is one of the first studies in Poland that uses moving averages to optimize the investment portfolio using shares of socially responsible companies. Owing to the results obtained, the work indicates that there are simple investment strategies that enable achieving above-average returns in the long run, which undermines the hypothesis of information-efficient markets in a weak form.

2019-01-01T00:00:00Z Straszak-Chandoha, Sylwia http://hdl.handle.net/11320/8695 2020-01-07T09:15:29Z 2019-01-01T00:00:00Z

Tytuł: An analysis of the development in agriculture in Lower Silesia from 1918 to 1939 and 1945 to 1956 Autorzy: Straszak-Chandoha, Sylwia Abstrakt: Purpose – An analysis of the development in Polish agriculture from 1918 to 1939 and 1945 to1956. Research method – The article uses scientific historical and economical methods. Source texts of the state provenance were analysed: legal acts, printed sources (mainly statistical), archival records. In the economic studies, the analysis included statistical data, dynamics of phenomena, and comparative studies. Results –The analysis of changes in agriculture in Lower Silesia in the studied periods demonstrates that despite the under-investment and its marginal economic importance in Germany from 1918 to 1939, the agriculture in Lower Silesia was at a much higher level than the agriculture in pre-war Poland. Communism coming into power post 1945 and Poland entering the so-called Eastern Block hindered further development of capitalist agriculture in Lower Silesia. The agricultural structure created after World War II was not adapted to the character of farms taken over and the existing agricultural system was completely different from the socio-political assumptions based on agricultural reform and on the socialist character of agriculture prevailing from 1945 to 1956. Originality / value – The analysis of agricultural economy in the studied period was not sufficiently described in the source literature.

2019-01-01T00:00:00Z Mróz, Teresa http://hdl.handle.net/11320/8694 2020-01-07T09:14:42Z 2019-01-01T00:00:00Z

Tytuł: The role of property law in creating the basis of the market economy after 1989 (regarding the historical context) Autorzy: Mróz, Teresa Abstrakt: Purpose – The purpose of the paper is to demonstrate the role of property law in the period of systemic transformation of the state and economy, which is the period of the transition from command-and-distribution economy to market economy. Research method – Analysis of the sources of law, views of representatives of science of law and views of judicature. Results – It can be considered that this was a unique process in the history of the Polish political system and in the history of the Polish economy. Property law became the basis for the functioning of legal institutions specific to the market economy, such as for example, commercial companies.

2019-01-01T00:00:00Z Podgórniak-Krzykacz, Aldona Przywojska, Justyna http://hdl.handle.net/11320/8693 2020-01-07T09:13:53Z 2019-01-01T00:00:00Z

Tytuł: The challenges of local development and priorities of mayors and presidents of Polish cities – convergence or dissonance? Autorzy: Podgórniak-Krzykacz, Aldona; Przywojska, Justyna Abstrakt: Purpose – The aim of the paper is to identify the key urban development challenges in Poland and to verify the opinions of Polish mayors about them. Research method – The research used the quantitative method in the form of a survey conducted among 460 leaders of Polish cities together with desk research analysis including the data from the official statistics and reports from 2014-2018. Results – It was established that in their political agendas mayors include the postulates presenting a traditional approach to sustainable development, which is directed at the economy, society and the environment, but underestimates environmental issues. They are not aware of the new development challenges, but focus on the traditional, infrastructural and economic priorities. Originality / value – For the first time in Poland the results of comprehensive research on the priorities of city development that were declared by mayors are presented. They include the latest determinants for sustainable development, such as: the technological revolution, the management of ethnical and cultural diversity in urban communities, the depopulation and degradation of city centres and also circular economics. The findings of the research fill an existing gap in knowledge about the city leaders’ points of view on the challenges facing modern cities and thus define a political climate for the implementation of the principles of sustainable development.

2019-01-01T00:00:00Z