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1

Analiza efektywności ekonomicznej produkcji rzepaku ozimego nawożonego azotem i pofermentem z biogazowni

Klikocka Hanna, Łukowiak Remigiusz, Szczepaniak Witold, Przygocka-Cyna Katarzyna

Przemysł Chemiczny

|

2026

|

T. 105, nr 2

149--154

PL

Przeprowadzono obliczenia efektywności ekonomicznej produkcji rzepaku ozimego (Brassica napus L.), wykorzystując dane z doświadczenia polowego prowadzonego w trzech sezonach wegetacyjnych 2015/2016-2017/2018 w gospodarstwie rolnym w Baniewicach, woj. zachodniopomorskie. Rzepak ozimy nawożono azotem w dawkach wzrastających co 60 kg/ha w przedziale 0-240 kg/ha oraz w układzie z i bez pofermentu z biogazowni rolniczej (PF). Skład pofermentu przedstawiał się następująco: sucha masa (s.m.) 72; Nₜ 7,2; N-NH₄ 3,7; P₂O₅ 2,85; K₂O 5,45; Ca 0,32; Mg 1,13 oraz S 1,99 kg/m³. Stwierdzono, że największy plon biomasy (nasiona + słoma) otrzymano w warunkach łącznego stosowania 180 kg N/ha w postaci saletry amonowej i pofermentu w ilości 16,6 m³/ha. Najkorzystniejszy dochód rolniczy i wskaźnik opłacalności otrzymano w warunkach łącznego stosowania 60 kg N/ha i pofermentu w ilości 5,5 m³/ha. Stosowanie samej saletry amonowej pogorszało wyniki ekonomiczne. Cena NPK w pofermencie była ponad czterokrotnie (4,4) niższa niż w nawozie mineralnym.

EN

The economic efficiency of winter rapeseed (Brassica napus L.) prodn. was calculated using data from a field expt. conducted during 3 growing seasons 2015/2016-2017/2018 on a farm in Baniewice, West Pomeranian Voivodeship. Winter rapeseed was fertilized with N at doses increasing by 60 kg/ha within the range 0-240 kg/ha and with and without digestate from an agricultural biogas plant (PF). The digestate compn. was as follows: dry matter (d.m.) 72; Nₜ 7.2; N-NH₄ 3.7; P₂O₅ 2.85; K₂O 5.45; Ca 0.32; Mg 1.13; S 1.99 kg/m³. The highest biomass yield (seed + straw) was obtained under conditions of combined application of 180 kg N/ha in the form of NH₄NO₃ and 16.6 m³/ha of digestate. The most favorable agricultural income and profitability index were obtained under conditions of combined application of 60 kg N/ha and 5.5 m3/ha of digestate. The use of NH₄NO₃ alone worsened economic results. The price of NPK in digestate was more than 4 times (4.4) lower than in mineral fertilizer.

2

The impact of sustainable development on the return on equity (ROE) and capital expenditure (CAPEX) in mining companies in Europe

Gniadkowska-Szymanska Agata, Keller Jakub

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2025

|

z. 225

167--177

EN

Purpose: The main objective of the article is to investigate whether the implementation of ESG policies affects the return on equity (ROE) and capital expenditure (CAPEX) in European mining companies in the years 2017-2023. Design/methodology/approach: The study was conducted on mining companies from Europe. The main tool of the analysis is the OLS (Ordinary Least Squares) model with heteroscedasticity correction to examine the relationship between ROE, capital expenditure and ESG indices and control variables. Findings: The research results indicate a statistically significant, but unexpected negative impact of ESG policies on the analyzed financial indicators in mining companies. A small but statistically significant negative impact of ESG policy implementation on ROE was found. The impact of ESG policies on capital expenditure (CAPEX) is even stronger and also negative. Research limitations/implications: Due to the time-limited nature of the research sample, the conclusions drawn are relatively short-term. Practical implications: The authors point to the need for a cautious interpretation of ESG effectiveness in capital-intensive industries. Although ESG policy is increasingly recognized as an integral element of financial analysis and has a positive impact on investment attractiveness and resilience to external shocks in the long term. This is of great importance to investors and market analysts. Originality/value: Despite the growing importance of ESG issues, there is still a lack of clear and widely documented empirical evidence on the impact of implementing sustainability policies on key financial indicators of companies, especially in high-carbon industries such as the mining sector. The results can be an important contribution to the debate on the role of sustainability in shaping investment decisions and financial strategies of companies.

3

The impact of sustainable development on return on equity (ROE, ROC) in companies in the logistics sector in Europe

Gniadkowska-Szymanska Agata

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2025

|

z. 225

195--208

EN

Purpose: The objective of this article is to examine the impact of individual elements of the ESG strategy on the capital efficiency of logistics companies operating in Europe in the years 2017-2023. Design/methodology/approach: The study was conducted on logistic companies from Europe. The main tool of the analysis is the OLS (Ordinary Least Squares) model with heteroscedasticity correction to examine the relationship between ROE, ROC and ESG indices and control variables. Findings: The analysis confirms that ESG factors influence capital returns in logistics companies, with the social dimension (SCR) playing a notably positive and statistically significant role across all subsectors. This suggests that efforts toward employee welfare, ethical practices, and stakeholder engagement enhance both operational and financial performance. Conversely, the environmental index (ENV) negatively impacts profitability only in maritime transport, likely due to the high costs of ecological compliance. Corporate governance (CG) shows a negative correlation with profitability in the overall sample, implying potential misalignment with sector-specific needs. Additionally, asset size and liquidity are crucial, emphasizing the importance of integrated, balanced financial management. Research limitations/implications: Due to the limited duration of the research sample, the conclusions drawn have a relatively short shelf life, which is one of the limitations of the analysis. Another limitation may be the use of linear models for potentially nonlinear relationships between ESG scores and financial returns. Practical implications: The article makes a significant contribution to the literature on the financial aspects of sustainable development by presenting empirical evidence on the diverse impact of individual ESG components on capital efficiency in the logistics industry. The results of the study can provide a basis for a better understanding of the mechanisms of responsible investment and help managers, investors, and public policy makers formulate effective ESG strategies that support both environmental and social goals and the long-term profitability of companies. Originality/value: Despite the growing importance of ESG issues, there is still a lack of clear and widely documented empirical evidence on the impact of implementing sustainability policies on key financial indicators of companies, especially in high-carbon industries such as the logistic sector. The results can be an important contribution to the debate on the role of sustainability in shaping investment decisions and financial strategies of companies.

4

Profitability of hotel enterprises of the Visegrad Group (V4) countries in the context of the war in Ukraine

Franczak Iwona, Bakota Daniel

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2025

|

z. 225

131--150

EN

Purpose: The main aim of the article is determine the impact of selected economic and noneconomic factors on the profitability of hotel enterprises in the V4 Group countries. Design/methodology/approach: Hypothesis verification procedures based on the nonparametric Kruskal-Wallis test and panel data regression models were selected from among the available research methods. The study adopted the dependent variable defined by net return on assets and used data for 697 hotel enterprises. The research sample includes annual economic data for the years 2019-2023. Findings: The analysis has showed that the economic variables affecting profitability are GDP and the inflation rate. These variables behaved as expected, namely the research confirmed the positive impact of economic growth and the negative impact of high inflation in the economy. In turn, among non-economic factors, the significant variables turned out to be the variable regarding the occurrence of the SARS-CoV-2 coronavirus pandemic, which was also in line with expectations, while it is worth noting that the invasion of Ukraine by the Russian Federation had a positive impact on hotel enterprises in the V4 Group countries. Research limitations: The results achieved in the work can be treated as an incentive for further action, in a much broader scope. However, the limitations of the study should be taken into consideration, such as the size of the sample resulting from the annual and complete financial statements only and the adopted research methodology. Practical and social implications: This research deepen the knowledge of hotel decisionmakers on how to identify key factors influencing hotel profitability or understand non-financial factors that can increase the resilience of companies to shocks such as a pandemic or a war in the region. Orginality: Many hotels in the V4 Group countries, after the outbreak of the war in February 2022, have been rented by governments, local governments and international organizations for the purpose of temporary accommodation of refugees. The adaptation hotels to the challenges of migration due to the war has shown the importance of flexibility and the ability of companies to quickly attract external resources to support new customer segments in crisis conditions.

5

Analiza płynności i rentowności przedsiębiorstwa funkcjonującego w branży wydobywczej

Lorenc-Szot Sylwia, Szabat Sebastian

Inżynieria Mineralna

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2025

|

Vol. 1, no. 1

265--270

PL

Celem artykułu jest przeprowadzenie analizy płynności i rentowności wybranego przedsiębiorstwa górniczego oraz ocena wpływu specyficznych czynników branżowych na te parametry. Badanie zostało przeprowadzone dla LW Bogdanka S.A. w latach 2019-2023. Analiza wykazała, że w obliczu rosnących wyzwań rynkowych przedsiębiorstwo LW Bogdanka S.A charakteryzuje się dobrą kondycją finansową. Potwierdzają to rosnące wskaźniki rentowności, z którymi skorelowany jest wzrost wskaźników płynności. Firma zdaje się stosować strategię finansową, polegającą na zwiększaniu rezerw gotówkowych i utrzymywaniu wysokiego poziomu płynności. Taka taktyka pozwoliła firmie osiągnąć zadowalające wyniki również w czasie pandemii oraz kryzysu energetycznego spowodowanego wojną na Ukrainie. Wyniki badań potwierdziły, że zmienność cen surowców naturalnych, wysokie koszty operacyjne oraz dynamicznie zmieniające się uwarunkowania regulacyjne stanowią istotne czynniki ryzyka, które wpływają zarówno na płynność finansową, jak i rentowność prowadzonej działalności wydobywczej.

EN

The purpose of the article is to analyze the liquidity and profitability of a selected mining company and assess the impact of industryspecific factors on these parameters. The study was conducted for LW Bogdanka S.A. for the years 2019-2023. The analysis showed that in the face of growing market challenges, LW Bogdanka S.A. is characterized by good financial condition. This is confirmed by rising profitability ratios, with which the increase in liquidity ratios is correlated. The company seems to be following a financial strategy of increasing cash reserves and maintaining a high level of liquidity. Such tactics allowed the company to achieve satisfactory results also during the pandemic and the energy crisis caused by the war in Ukraine. The results of the study confirmed that the volatility of natural resource prices, high operating costs and a dynamically changing regulatory environment are significant risk factors that affect both the liquidity and profitability of the upstream business.

6

The impact of socio-political factors on the profitability of wind farms in selected European Union countries

Wyrobek Joanna, Zyguła Andrzej, Popławski Łukasz, Lula Paweł, Dziekański Paweł

Economics and Environment

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2025

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No. 2

art. no. 962

EN

Purpose: This study examines wind energy profitability and the impact of social and political attitudes on this sector performance. Methodology/approach: It employs panel data analysis of wind farm profitability across various countries, considering governmental policies and renewable energy targets. Findings: Profitability varies significantly by country, with social acceptance and political support influencing outcomes. Austria and Germany show higher profitability, while Greece and Poland face challenges. Countries with the highest resistance to wind energy also had the highest electricity prices. Research limitations/implications: The focus on profitability may overlook other factors affecting wind energy development, and the analysis is limited to companies solely engaged in wind energy. Practical implications: The findings indicate that increasing political and social support is vital for wind energy’s economic viability. Social implications: Understanding public resistance to wind farms is key for the future development of this energy source. Originality/value: This research highlights the impact of social and political factors on the profitability of renewable energy initiatives.

PL

Cel: Niniejsze badanie analizuje rentowność firm zajmujących się produkcją energii wiatrowej oraz sposób, w jaki postawy społeczne i polityczne wobec farm wiatrowych wpływają na ich wyniki finansowe. Metodyka/zastosowane podejście: W badaniu zastosowano analizę danych panelowych dotyczących rentowności farm wiatrowych w różnych krajach, uwzględniając polityki rządowe i cele w zakresie energii odnawialnej. Wyniki: Rentowność znacznie różni się w zależności od kraju; na wyniki wpływają akceptacja społeczna oraz wsparcie polityczne. Austria i Niemcy wykazują wyższą rentowność, pod-czas gdy Grecja i Polska napotykają trudności. Kraje z największym oporem wobec energii wiatrowej miały również najwyższe ceny energii elektrycznej. Ograniczenia/implikacje badawcze: Skupienie się na rentowności może pomijać inne czynniki wpływające na rozwój energii wiatrowej, a analiza ogranicza się do firm zajmujących się wyłącznie energią wiatrową. Implikacje praktyczne: Wyniki wskazują, że zwiększenie wsparcia politycznego i społecznego jest kluczowe dla ekonomicznej rentowności energii wiatrowej. Implikacje społeczne: Zrozumienie społecznego oporu wobec farm wiatrowych jest kluczowe dla przyszłego rozwoju tego źródła energii. Oryginalność/wartość dodana: Niniejsze badanie podkreśla wpływ czynników społecznych i politycznych na rentowność inicjatyw związanych z energią odnawialną.

7

A circular vineyard – the possibility of using the circular economy concept in the wine sector in Poland

Pilawka Tomasz, Kalisiak-Mędelska Magdalena, Krześ Agnieszka

Economics and Environment

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2025

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No. 1

art. no. 902

EN

The purpose of the article is to assess the possibility of applying the circular business model to wine farms in Poland. The focus is on the economic aspects of producing grape seed oil as one of the waste products generated in the wine production chain. The manufacturing potential of grape seed oil in Poland was estimated based on the production resources and the processing capacity of wine farms. The profitability of oil production was determined for selected farms located in Lower Silesia. The data were obtained through interviews with wine producers participating in the “Cooperation” research project of the Rural Development Program. In the case of small wine farms, the scale of wine production does not allow achieving the level of oil production to cover its manufacturing costs. Large wine farms producing more than 10 thousand litres of wine may be interested in this type of production. The transition into the circular business model for wine farms based on grape seed oil production will, therefore, require establishing producer groups or developing relationships based on competition between wine producers.

PL

Celem artykułu jest ocena możliwości zastosowania cyrkularnego modelu biznesowego w gospodarstwach winiarskich w Polsce. Skoncentrowano się na ekonomicznych aspektach wytwarzania oleju z pestek winogron, będących jednym z odpadów powstających w łańcuchu produkcyjnym wina. Oszacowano potencjał produkcyjny oleju z pestek winogron w Polsce w oparciu o zasoby produkcyjne i możliwości przetwórcze gospodarstw winiarskich. W odniesieniu do wybranych gospodarstw zlokalizowanych na terenie Dolnego Śląska określono opłacalność produkcji oleju. Dane pozyskano w drodze wywiadów z producentami wina uczestniczącymi w projekcie badawczym PROW “Współpraca”. W przypadku małych gospodarstw winiarskich skala produkcji wina nie pozwala na osiągniecie takiego poziomu produkcji oleju, pozwalającego na pokrycie kosztów jego wytwarzania. Tego rodzaju produkcją mogą być zainteresowane duże gospodarstwa winiarskie wytwarzające powyżej 10 tys. l wina. Przejście na cyrkularny model biznesowy gospodarstw winiarskich w oparciu o produkcję oleju z pestek winogron będzie wymagać zatem rozwijania grup producenckich czy też budowania relacji opartych na koopetycji między producentami wina.

8

The impact of macroeconomic factors on the profitability of companies. Analysis using neural networks

Szutowski Dawid

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2024

|

z. 193

667--683

EN

Purpose: Despite the central role of profitability in economic analysis, previous research has yielded diverse and often unstructured conclusions regarding its determinants. To address this gap, this empirical investigation aimed to explore the major determinants of company profitability. Design/methodology/approach: It conducted a comprehensive analysis of factors, encompassing: changes in the gross domestic product, Consumer Price Index, Producer Price Index, NBP’s Reference rate, investment outlays, intramural expenditures on research and development, expenditures on innovation activities in enterprises, and patents granted, alongside company-level profitability indicators. The study's sample consisted of companies representing 19 sectors of the economy, spanning from 2004 to 2021. For data analysis, a neural network was employed, specifically a multi-layer perceptron (MLP) utilizing the sigmoid activation function. Findings: The findings suggest that alterations in macroeconomic variables can significantly impact the profitability of companies. The analysis carried out revealed that consumer price index, reference rate, gross domestic product and producer price index were the most important exogeneous factors. Originality/value: This study introduces several novelties, including the application of neural networks, which are infrequently utilized in this field, and the simultaneous analysis of a comprehensive set of independent variables.

9

Próba restrukturyzacji Kompanii Węglowej SA w latach 2015–2016

Podsiadło Jerzy

Zeszyty Naukowe Instytutu Gospodarki Surowcami Mineralnymi i Energią PAN

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2024

|

nr 112

143--153

PL

W rozdziale przedstawiono próbę restrukturyzacji Kompanii Węglowej SA w latach 2015–2016. Spółka ta znajdowała się w tym czasie na krawędzi całkowitego bankructwa. Przy udziale szeregu firm doradczych został przygotowany wówczas program restrukturyzacji, który w założeniu miał radykalnie zmienić organizację i sposób funkcjonowania KW i doprowadzić ją do trwałej rentowności. Ta próba zakończyła się niestety całkowitym fiaskiem, bowiem z przyjętych tam celów zrealizowano właściwie jedynie przewidziane dofinansowanie dostarczone przez spółki państwowe. Z pozostałych założeń udało się zrealizować niewiele. Zabrakło bowiem odwagi i determinacji w wdrażaniu najtrudniejszych założeń restrukturyzacyjnych. Reforma ta w konsekwencji została więc porzucona. Doświadczenia związane z budową tego planu oraz próbami jego implementacji powinny być jednak brane pod uwagę przy ewentualnych dalszych działaniach zmierzających do poprawy rentowności górnictwa węgla kamiennego.

EN

The chapter presents an attempt to restructure Kompania Węglowa SA from 2015–2016. At that time, the company was on the verge of complete bankruptcy. With the participation of a number of consulting companies, a restructuring program was prepared, which was intended to radically change the organization and functioning of KW and lead it to lasting profitability. Unfortunately, this attempt ended in a complete failure, because only the planned funding provided by state-owned companies was actually achieved. Almost none of the remaining assumptions were achieved. There was a lack of courage and determination in implementing the most difficult restructuring assumptions. This reform was consequently abandoned. However, the experience related to the development of this plan and attempts to implement it should be taken into account in any further actions aimed at improving the profitability of the hard coal mining industry.

10

Increasing the Economic Efficiency of Mining Industry Enterprises in Terms of Digitalisation: Example of the East Kazakhstan Region

Ospanov Zhandos, Dossanova Saule, Tadjieva Sayora, Maidyrova Aigul

Management and Production Engineering Review

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2024

|

Vol. 15, No. 4

1--10

EN

In the context of Kazakhstan’s economic digitalisation, increasing economic efficiency is a top priority. Digitalisation enhances enterprises’ financial stability and decision-making speed. This is particularly vital for mining enterprises, a key focus of the “Digital Kazakhstan” state program. This study aims to develop strategies to boost economic efficiency by analysing its essence and evaluating mining enterprises in East Kazakhstan. The methods used in the research include statistical analysis, comparison, structural and logical analysis, and synthesis. The results include determining the essence of economic efficiency, evaluating the dynamics of industrial production indices, production volume, and structure, and assessing economic efficiency indicators of mining enterprises. Five key areas affecting economic efficiency were identified: technology, material resources, management, labour resources, and the general system. The introduction of Big Data digital technology is suggested for each area to significantly enhance efficiency.

11

Efektywność systemów wykorzystania wody deszczowej w budynkach handlowo-usługowych

Sakson-Sysiak Grażyna, Zyzik Przemysław

Instal

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2024

|

nr 1

24--28

PL

Występujące niedobory wody i wzrastająca cena wody wodociągowej coraz częściej skłaniają inwestorów do poszukiwania alternatywnych źródeł zasilania instalacji wodociągowych. Systemy gromadzenia wody deszczowej i jej wykorzystania na potrzeby niewymagające jakości wody do picia są stosowane nie tylko w budynkach mieszkalnych, ale także handlowych, usługowych, sportowych i przemysłowych. W artykule przedstawiono wyniki analiz funkcjonowania takich rozwiązań w dwóch obiektach: salonie samochodowym i stacji paliw. Wielkość systemów i przeznaczenie wody deszczowej w obu obiektach są różne, podobnie jak ich lokalizacja. W oparciu o dobowe dane o wysokości opadów w latach 2018-2022 ustalono m.in. efektywność działania i potencjalne możliwości systemów w obu obiektach w odniesieniu do ustalonego zapotrzebowania na wodę deszczową, a także czas zwrotu nakładów inwestycyjnych. Mimo, że systemy nie umożliwiły pełnego pokrycia zapotrzebowania na wodę gorszej jakości w obu obiektach, ich zastosowanie można uznać za ekonomicznie opłacalne. Tego typu analizy, jak opisane w artykule umożliwiają dobór odpowiednich parametrów przy projektowaniu systemów gromadzenia i wykorzystania wód deszczowych i ułatwiają inwestorom podjęcie decyzji o zastosowaniu takich rozwiązań w budowanych obiektach.

EN

Occurring shortages of water and the increasing price of potable water more and more often encourage investors to look for alternative sources of supply to water supply systems. Rainwater harvesting systems and its use for purposes that do not require drinking water quality are applicable not only in residential buildings, but also in commercial, service, sports and industrial buildings. The article presents the results of functioning analysis of such solutions in two facilities: a car dealership and a petrol station. The size of the systems and the purpose of the rainwater at the two sites are different, as is their location. Based on daily data on the of precipitation depth in 2018-2022, the efficiency and potential capabilities of the systems in both facilities in relation to the specified rainwater demand, as well as the payback time of investment outlays were established. Although the system did not fully cover the demand for non potable water in both facilities, their use can be considered economically viable. This type of analysis, as described in the article, enable the selection of appropriate parameters when designing rainwater harvesting systems and make it easier for investors to decide on the use of such solutions in constructed facilities.

12

Techno-economic analysis and carbon (IV) emission reduction

Abur Benjamin Ternenge, Dandakouta Habou, Bello Adisa Ademola, Ejilah Robinson Ichakpa, Duvuna Gideon Ayuba, Godwin Ede Egbudu

Infrastruktura i Ekologia Terenów Wiejskich

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2024

|

Vol. 19, No. 1.1

37--51

EN

System profitability analysis and carbon (IV) oxide emission saved by an indirect passive solar cabinet dryer for tomatoes drying was evaluated under Bauchi (Nigeria) prevailing weather condition. Dryer minimum annual throughput of 27.89 kg occurred in the design month of August at 180 days of drying with thermal energy output of 262.55 kWh. Financial analysis indicated a minimum annual cash flow of ₦7,826.61 for electricity energy saved with a payback period of 14.22 years which is less than the economic useful life of the dryer in the design month, while preventing 105.02 kg of carbon (IV) oxide emission. This illustrates a conventional energy cost saving method for drying high moisture crop using a cleaner form of energy. The study recommends the development and adaptation of solar dryers with auxiliary heating units for proper harnessing of solar energy for environmental sustenance and economic growth.

13

Analysis of selected economic data of Polish paper processing enterprises in comparison to total manufacturing

Biernacka Justyna

Annals of Warsaw University of Life Sciences - SGGW. Forestry and Wood Technology

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2024

|

No. 127

15--23

EN

Analysis of selected economic data of Polish paper processing enterprises in comparison to total manufacturing. This study focuses on the analysis of the dynamics of selected economic data and indicators describing the economic condition of paper processing industry enterprises compared to total manufacturing. The results of the analysis showed that the lowest dynamics of selected economic data in 2019-2020 for both sectors was recorded. The paper processing industry achieved the highest dynamics of net financial result and total revenues in 2021 and 2022; the dynamics of the examined values was slightly lower than observed for total manufacturing. In 2021-2022 a clear upward trend in profitability indicators was observed – values of return of equity and net profitability turnover indicators were at a higher level than in total manufacturing.

PL

Analiza wybranych danych ekonomicznych polskich przedsiębiorstw przetwórstwa papieru w porównaniu z przetwórstwem przemysłowym ogółem. Artykuł koncentruje się na analizie dynamiki wybranych wielkości ekonomicznych i wskaźników opisujących kondycję ekonomiczną przedsiębiorstw należących do przemysłu przetwórstwa papieru w porównaniu do przemysłu przetwórczego ogółem. Wyniki analizy wykazały, że oba sektory charakteryzowały się najniższą dynamiką wybranych wielkości ekonomicznych w latach 2019-2020. Najwyższą dynamikę wyniku finansowego netto oraz przychodów ogółem w latach 2021-2022 osiągnęła branża przetwórstwa papierniczego, a dynamika badanych wielkości była nieco niższa niż obserwowana dla całego przetwórstwa przemysłowego. Również w latach 2021-2022 zaobserwowano wyraźną tendencję wzrostową wskaźników rentowności kapitału własnego oraz rentowności obrotu netto kształtowały się na niższym poziomie niż dla przetwórstwa przemysłowego ogółem.

14

Analysis of selected economic data of Polish furniture industry enterprises in comparison to total manufacturing

Biernacka Justyna

Annals of Warsaw University of Life Sciences - SGGW. Forestry and Wood Technology

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2024

|

No. 128

17--25

EN

Analysis of selected economic data of Polish furniture industry enterprises in comparison to total manufacturing. The paper focuses on analysis of the selected economic data dynamics and indicators of describing the economic and financial situation of enterprises belonging to the furniture industry in comparison to the total manufacturing. The most frequent declines in the dynamics of the analysed values for both industry sectors in 2019-2020 were observed. In 2021 and 2022 declines in the net financial result of the furniture industry were again observed. In the same period, manufacturing enterprises showed an increasing tendency in the values of net financial results. Confirmation of the deterioration of financial results of the furniture industry enterprises and their condition is a downward trend in their profitability indicators in the last 2 examined years. In the mentioned period, the total liabilities of enterprises belonging to both sectors also increased, but their growth was stronger in the manufacturing sector.

PL

Analiza wybranych danych ekonomicznych polskich przedsiębiorstw przemysłu meblarskiego w porównaniu z przetwórstwem przemysłowym ogółem. W artykule dokonano analizy dynamiki i wskaźników wybranych danych ekonomicznych opisujących sytuację ekonomiczno-finansową przedsiębiorstw należących do przemysłu meblarskiego w porównaniu do przemysłu przetwórczego ogółem. Spadki dynamiki analizowanych wielkości dla obu badanych sektorów najczęściej obserwowano w latach 2019-2020. Poza tym okresem, w latach 2021 i 2022 ponownie zaobserwowano spadki wyniku finansowego netto branży meblarskiej. W tym samym okresie przetwórstwo przemysłowe charakteryzowała wzrostowa tendencja wartości wyniku finansowego netto. Potwierdzeniem pogorszenia się wyników finansowych przedsiębiorstw branży meblarskiej i ich kondycji były w ostatnich 2 badanych latach obniżające się wartości wskaźników rentowności. We wspomnianym okresie rosły także zobowiązania ogółem przedsiębiorstw obu sektorów, przy czym silniejsze były w sektorze przetwórstwa przemysłowego.

15

Towards understanding animal welfare by observing collective flock behaviors via AI-powered Analytics

Karatsiolis Savvas, Panagi Pieris, Vassiliades Vassilis, Kamilaris Andreas, Nicolaou Nicolas, Stavrakis Efstathios

Annals of Computer Science and Information Systems

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2024

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Vol. 39

643--648

EN

Animal farming has undergone significant transformation and evolved from small-scale businesses to largescale commercial ventures. While maximizing productivity and profitability has always been a major concern in animal farming, during recent years there has been an increasing rise of concern regarding the welfare of the animals. In this context, the integration of artificial intelligence (AI) technologies offers immense potential for monitoring the well-being of chickens on farms and optimizing revenue streams simultaneously. Several works have integrated AI methodologies into everyday animal farming activities. Still, very few (if any) have proposed efficient and practical solutions that may facilitate farm owners in making impactful decisions regarding their business profitability and the welfare of the animals. In this direction, we propose a noninvasive chicken farm monitoring system that relies on onfield sound and video recordings integrated with sensory data acquired from the farm. The system consists of hardware that handles data acquisition and storage, a sensory data collection system and audio/video processing AI models. The last component of the system will be an inference engine that analyzes the collected data and infers useful facts about the flock's welfare and even psychological state.

16

The impact of working capital management on manufacturing firms’ profitability – an emerging market perspective

Arulanandam Benedict Valentine, Glinkowska-Krauze Beata, Tan Pei Yu

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2023

|

z. 169

9--32

EN

Purpose: This study aims to investigate the effects of working capital management on firm profitability of listed manufacturing companies in Malaysia. Design/methodology/approach: This study uses account payables, inventory turnover, account receivables, cash conversion cycle, firm size, growth, leverage and current ratio as accounting information variables. Secondary data was collected for all variables over a ten-year period, i.e. 2009 to 2018 and was obtained from the annual report published via Bursa Malaysia (Malaysian Stock Exchange) official website. Data was analyzed by using IBM SPSS Statistics Subscription software. Descriptive statistics, correlation analysis and multiple regression analysis were utilized in this study. Findings: The results revealed that inventory turnover in days, account receivables and firm size have a positive significant relationship with manufacturing firms’ profitability, while account payables and cash conversion cycle have a positive insignificant relationship. Research limitations/implications: The sample size is too small for any generalization. A mixed method approach in the future could contribute to a holistic finding. Practical implications: Since these variables contained significant influence on firm profitability, it is recommended that listed manufacturing companies should prepare a complete and timely manner of accounting information based on the regulation context in Malaysia. Social implications: It provides an empirical evidence on the importance of working capital management amongst the manufacturing concerns in Malaysia and its impact on its business sustainability. Originality/value: This study contributes to the limited research on working capital management involving manufacturing companies in Malaysia. Paper Type: Research Paper.

17

Profitability of medical entities in Poland following ownership transformations

Kowalik Joanna

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2023

|

z. 172

355--366

EN

Purpose: The paper aimed to analyze the profitability of the ten selected healthcare units in Poland before and after ownership transformation. Source data used for calculations came from the financial statements of the examined healthcare units. Design/methodology/approach: The paper focuses on ratio analysis, i.e., profitability, which facilitates the evaluation of the studied hospitals in two periods, 'before transformation' and 'after transformation'. A method of scientific cognition was used (1): an analysis of the subject literature, a method of obtaining empirical data (2): an analysis of the content of internal documentation of the analyzed healthcare entities (hospitals), and a method of analysis of the obtained empirical material (3): indicator analysis. Undertaken research contributed to the formulation of the research objective: Is there an improvement in the profitability of medical entities (hospitals) in Poland following ownership transformation? Referring to the presented research problem, the author formulated the following hypothesis: There is an improvement in the profitability of the examined healthcare entities in Poland. Findings: The study's results allow the author to verify the research hypothesis. The spatial scope of the analysis refers to the territory of Poland with a focus on three selected provinces: Lesser Poland (małopolskie), Kuyavia-Pomerania (kujawsko-pomorskie), and Lubusz (lubuskie). The time scope of the study covers three years before the transformation of a given 'SP ZOZ' (Independent Public Healthcare Institution) into a commercial law company and three years after the transformation. The subject scope of the evaluation includes: hospitals subordinate to local government units (LGUs) transformed into commercial law companies. The subject scope of the evaluation is the profitability of hospitals. Research limitations/implications: The results obtained are of great practical importance for managers, shareholders and other stakeholders in the health care sector. Nevertheless, the proposed considerations certainly do not exhaust all possible solutions and may be the subject of further research and scientific discussions. In the future, the author plans to expand the research results with the criterion of social effectiveness (quality of services provided and patient satisfaction with the services of medical entities). Practical implications: The results of the work can become an incentive for executives, managers and investors, as they indicate an improvement in the profitability of hospitals. Social implications: The implementation of the research results will contribute to increasing public awareness of the functioning of hospitals. Originality/value: The number of studies on the financial performance of medical entities is insufficient. All the more, the research results presenting the evaluation of the financial situation of the transformed entities are extremely valuable. The results from the conducted research indicate an improvement in the profitability of the examined medical entities (hospitals). In connection with this fact, legal changes resulting from normative acts (reforms in the healthcare sector) were also justified. The choice of topic results from the personal interests of the author.

18

Opłacalność prosumenckich mikroinstalacji fotowoltaicznych w aspekcie zmian w polskich programach wsparcia i rozliczeniach prosumenckich

Kiełboń Mirosław, Maźniewski Krzysztof

Rynek Energii

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2023

|

Nr 2

9--22

PL

W artykule przedstawiono wybrane zagadnienia dotyczące opłacalności budowy i eksploatacji mikroinstalacji fotowoltaicznych w aspekcie zmian w polskim prawie oraz w uwarunkowaniach gospodarczych i finansowych dotyczących takich mikroinstalacji. Opisano zmiany w mechanizmach wsparcia prosumentów zaistniałe po wprowadzeniu nowej Ustawy o Odnawialnych Źródłach Energii [2]. Na tej podstawie wykonano analizę techniczno-ekonomiczną przykładowych instalacji fotowoltaicznych z określeniem rentowności, biorąc pod uwagę mikroinstalacje prosumenckie, opisane uprzednio w artykule pt. „Opłacalność prosumenckich mikroinstalacji fotowoltaicznych w aspekcie zastosowania polskich programów wsparcia”, opublikowanego w czasopiśmie „Rynek Energii” w 2021 roku [11]. Podobnie jak poprzednio, nie brano pod uwagę wytwórców profesjonalnych, których podstawową działalnością jest wytwarzanie energii elektrycznej. Głównym celem było wykazanie, w jakim stopniu systemy wsparcia prosumentów po zmianach Ustawy o OZE oddziałują na wskaźniki ekonomiczne decydujące o rentowności inwestycji typu mikroinstalacja fotowoltaiczna. Dodatkowym aspektem jest wskazanie, czy zastosowanie magazynu energii współpracującego z instalacją fotowoltaiczną podniesie, czy obniży jej rentowność.

EN

The article presents selected issues concerning the proﬁtability of construction and operation of photovoltaic „ micro—installations in the aspect of changes in Polish law and in economic and ﬁnancial conditions concerning such micro- ; installations. Changes in the support mechanisms for prosumers following the introduction of the new Renewable Energy Sources (RES) Act were described. On this basis, a technical and economic analysis of exemplary photovoltaic installations with the determination of proﬁtability was carried out, taking into account prosumer micro-installations described previously in the article "Proﬁtability of prosumer photovoltaic micro—installations in terms of the application of Polish support schemes", published in "Energy Market" in 2021. As before, professional generators whose primary activity is electricity generation were not considered. The main objective was to demonstrate to what extent prosumers' support schemes after the amendments to the RES Act affect the economic indicators that determine the proﬁtability of a micro PV investment. An additional aspect is to indicate Whether the use of energy storage cooperating with a PV installation will increase or decrease its proﬁtability.

19

Technical study of the installation of a watercress nectar processor to reduce anemia in adults

Manrique-Suarez Luis-Alberto, Ochoa-Sotomayor Nancy-Alejandra, Salazar-Robles Héctor-Gavino, Flores-Masías Edward José

Management Systems in Production Engineering

|

2023

|

nr 1 (31)

59--70

EN

Peru has a diversity of exotic fruits and plants with recognized yields for food and health protection. Nectars are highly consumed food products, made from fruits or vegetables. The objective for the present work was to carry out the technical study of the installation of a watercress nectar processor to reduce anemia in adults; identify the demand, technical requirements for the operation and profitability of the processing facilities. Methodology. The analytical-synthetic method was used; The population of the target market was analyzed, the size of the sample was determined with the coefficient of variation method, (n = 384), the instrument used was the survey; the technical, economic-financial study was carried out. The results were the growth in the demand for nectars of 59.82%, with respect to the economic-financial evaluation, it has been shown that the results are satisfactory for the installation of the plant, with the economic and financial IRR, both rates proving to be attractive. for the project. From the projected income statement for the 2021-2025 period, it can be deduced that for 2025 there was a net profit of S/316,971.39. Other indicators such as the economic and financial NPV, the B/C ratio and the PRI that were satisfactory for the Project, making its execution viable. The conclusion this study was the technical study for the installation of a nectar processing plant to reduce anemia in adults in Lima, which was viable in terms of operation and profitability, taking advantage of its healing and nutritional properties.

20

Applying Knowledge Distillation to Improve Weed Mapping With Drones

Castellano Giovanna, De Marinis Pasquale, Vessio Gennaro

Annals of Computer Science and Information Systems

|

2023

|

Vol. 35

393--400

EN

Non-invasive remote sensing using UAVs can be used in precision agriculture to observe crops in visible and non-visible spectra. This paper investigates the effectiveness of state-of-the-art knowledge distillation techniques for mapping weeds with drones, an essential component of precision agriculture that employs remote sensing to monitor crops and weeds. The study introduces a lightweight Vision Transformer-based model that achieves optimal weed mapping capabilities while maintaining minimal computation time. The research shows that the student model effectively learns from the teacher model using the WeedMap dataset, achieving accurate results suitable for mobile platforms such as drones, with only 0.5 GMacs compared to 42.5 GMacs of the teacher model. The trained models obtained an F1 score of 0.863 and 0.631 on two data subsets, with a performance improvement of 2 and 7 points, respectively, over the undistilled model. The study results suggest that developing efficient computer vision algorithms on drones can significantly improve agricultural management practices, leading to greater profitability and environmental sustainability.