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EN
The article presents different bank definitions, changing in time, considering the following aspects: legal, social, organizational and the one connected to its functions. Bank works as a company and is oriented on a profit maximalisation. It is also an institution of social trust. It has different roles on the financial market in micro- and macroscale. According to bancassurance it occurs as a channel of insurance products distribution. In this field its activity grows systematically.
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This paper aims at analysis of development of Employee Pension Plans as a measurement of pension awareness among the society. Unsatisfactory development of Employee Pension Plans shows insufficient use of the voluntary form of income support in old age by both employers and employees. This may indicate lack of sufficient tax incentives and too low pension awareness and that non-tax benefits for employers do not play as significant role as expected. As a result, loss of pension assets from the base of the pension system will not be set-off adequately as evidenced by declining.
EN
One of the natural phenomena in Poland are autumn and spring frosts. These occurrences are a serious threat to agricultural crops of vegetables, fruits and flowers. The article present the classifications of frosts and their regional presence in Poland. It also points to the losses caused by frosts and the frequency of their occurrence. This article is useful especially for the calculation of the rate of insurance collections.
EN
The paper presents the issue of the use of insurance contracts in the operational risk mitigation by banks. The general aspects of operational risk and its management are described. The main focus is on the risk reduction techniques – mainly insurance. The bank capital regulations are also mentioned – as the background for the presentation of the use of insurance for reduction of capital requirements for operational risk. The general examples are presented, as well as some empirical data.
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The study investigates alternative banks in reference to Corporate Social Responsibility's case. Alternative banks are different from traditional ones, which are profit- and profitability- oriented, as well as their aim is to reach as greatest as possible benefits out of capital. Alternative banks, which are ethical and social, concern about Corporate Social Responsibility, influence on local development, communicate resources for micro projects funding and abide by uncommon rules. The aim of this report is Social Banking, Islam Banking and Green Banking.
EN
The article introduces loan funds, which deliver capitals to micro, small and medium sized enterprises, even in period of crisis and limited possibilities of financing from alternative sources. In this way they contribute to a formation and a development of economic subjects and stimulate the employment growth also. Loan funds fulfill a gap of financing, which banks can not or do not want fill up. In aim of showing a meaning of loan funds were presented effects of their activity for SME sector in last years. Afterwards, the guarantee funds role was showed, which stimulate giving loans and credits.
EN
The article outlines the concept of enhanced business reporting, which is based on disclosing additional information in corporate reports. The information is meant to create background for obligatorily presented financial data, what should result in better decisions by shareholders and other stakeholders. Consequently, greater transparency should lead to a more effective capital market and rebuilding public trust in companies' reports. More important, it should result in greater accountability of corporate managers. The author tries to identify the areas, where additional disclosure could have reduced the negative effects of the economic crisis. Furthermore, the article explains what kind of information can be disclosed by companies during crisis, so that the positive effects of greater transparency can be achieved.
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The authors present a complex definition of the local authorities activity concept in connec- tion with most common concepts of public finance: the decentralisation of public finance and the decentralisation of local tasks. The authors emphasise the complexity of relations between these concepts and the impact of this complexity of relations in the context of public finance crisis, activities aiming at reduction of discrepancies between regions, etc. The article shows also the need of detailed economic and law analysis and broad, professional discussions, taking into account, as the starting point, the analogy between Poland and Spain.
EN
A large scale of investment is a key characteristic of the field of water-sewage investment. It results from the domestic and EU regulations. In the paper criteria of decision making process in local authorities in the condition of economic instability are presented. The scale of investment needs are pointed out, sources of financing, and alternative forms of ecological investment.
EN
Banks, insurance companies, investment funds and open retire funds, are main part of finan- cial system. They are called public thrust institutions. Financial situation this institutions describing conditions in national economy. Very important are continues financial analyses his efficiency. In paper were analyzed efficiency of financial institutions with slowing of GDP growth in Poland in 2008, which was cause by world financial crisis. Analysis rate of return the main institutions for years 2006–2008 shows, that result of slowing economy, hit in institutions of capital market: investment funds and retire funds. Banks, insurance companies, and firms manage investment funds and open retire funds, apart lower efficiency, shows net income, cover cost of risk join with running activity.
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The article presents the most frequent forms of internationalization that are observed among the SMEs and its effect on enterprises' competitiveness. In this area, attention is paid to the internal as well as external obstacles impeding internationalization.
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The aim of this paper is an analysis related to the impact of reinsurance on the underwriting result of the 10th group’s the second Division of the insurance. The analysis is based on the ten- -year period (1999–2008) of insurance data in Poland. The author of the paper, in order to determine the effects of the reinsurance on the underwriting result of the 10th group’s, has carried out a simulation of the technical account and has examined the underwriting results with references to reinsurance business. In the second step, the author has made a comparison between these estimated underwriting results related to reinsurance activity and the actual value of the underwriting results.
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The aim of the paper is to discuss the relation between economic crisis and entrepreneurship. The discussion is conducted in the light of selected theories and events which took place in 2008 and 2009 (global financial crisis).
EN
The article discusses the intervention function of the state in the time of changing busi- ness cycle. It seems justified for the state to take action when the business cycle is slowing down, and especially during crisis. The global financial crisis that appeared in 2008 forced particular national governments, including those in the EU member states, to introduce schemes protecting against its impacts. In Poland, both the central government and the National Bank of Poland launched an anti- crisis package between the end of 2008 and July 2009. Its goals range from guaranteeing the reliability of the banking system, protection of jobs, and creation of a friendly climate for enterprises to stimulating domestic demand. The package has introduced new legal solutions, whose advantageous effects could be observed in the first six months of 2009. They are confirmed by the basic macroeconomic indicators, primarily the positive value of GDP. The article analyses the situation of Poland's economy in the years 2007–2009 based on ma- croeconomic data and presents the legal solutions implemented by the Polish government to counteract the impacts of the global crisis.
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The article discusses the rules governing the exercising of the right to fully-funded pensions. The pensions were introduced into Poland under the pension system reform. The law specifies two types of benefits: a periodic annuity (effective as of 2009) and a lifetime annuity (from 2014). A fully-funded pension is a personal benefit whose level depends on the amount of funds the insured person has accumulated on an individual account kept by the chosen Open Pension Fund. Both the fully-funded pensions and those paid under the so-called first pillar are protected by the state. A periodic annuity is a fixed-term and temporary benefit, which means that a person reaching the statutory age of 65 years becomes illegible for it, receiving a lifetime annuity instead. It is worth noting that the age when the fully-funded pensions can be drawn is the same for men and women (65 years). Therefore, the social insurance system complies with the rule of non- discriminatory treatment of its clients. Nevertheless, the fact that women save for shorter periods and draw periodic annuities may affect the final amounts of lifetime annuities they will draw.
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