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EN
Aim/purpose – The main aim of the paper is to fill in the gap in the existing literature as well as to propose a set of specific family enterprises’ (FE) attributes concerning certain socioeconomic conditions in Poland. The objectives of the article are interrelated with two theses. H1 assumes that in current literature there is a little attention paid to the demand side of the market, particularly to the individual consumers (including young buyers) and their attitudes toward FEs. H2 indicates that the perception of Polish FEs changes considerably reflecting the international trends. Design/methodology/approach – The authors studied a consolidated profound review of recent international and Polish publications on FEs. The expert interviews and in-depth individual interviews were conducted. Both empirical studies brought a preliminary insight into overall consumer perception of the FEs in Poland. Findings – For several years Polish buyers have been dynamically changing their mindset, breaking the stereotype of FEs’ owners. Nowadays, tradition and quality are two attributes which are associated closely with Polish FEs. Customers indicate that FEs are trustworthy, responsible, solid and dependable. They also highlight the ethnocentric attitude toward these companies – Polishness. All these attributes are evidently appreciated. FEs are correlated with traditional industries and products, especially with groceries, cosmetics, clothes, shoes, jewelry, furniture, windows and doors. Research implications/limitations – The identity of FEs is not always communicated properly. Consumers often cannot ascertain a provenance of their offer as many FEs do not emphasize their family identity. Additionally, on the Polish market, consumers are occasionally misled considering the family ownership of a business. Originality/value/contribution – The studies indicate a set of attributes typical of Polish FEs underpinning their strong identity which should be explicitly conveyed to the public, with special regard to young consumers.
2
Content available THE LOW PRICE EFFECT ON THE POLISH MARKET
100%
EN
In this paper we investigate the characteristics of the low price anomaly, which implies higher returns to stocks with a low nominal price. The research aims to broaden academic knowledge in a few ways. Firstly, we deliver some fresh evidence on the low price effect from the Polish market. Secondly, we analyze the interdependence between the low price effect and other return factors: value, size and liquidity. Thirdly, we investigate whether the low price effect is present after accounting for liquidity. Fourthly, we check to see whether the low price effect is robust to transaction costs. The paper is composed of three main sections. In the beginning, we review the existing literature. Next, we present the data sources and research methods employed. Finally, we discuss our research findings. Our computations are based on all the stocks listed on the Warsaw Stock Exchange (WSE) in the years 2003-2013. We have concluded that the low price effect is present on the Polish market, although the statistical significance is very weak and it disappears entirely after accounting for transaction costs and liquidity.
PL
W tym numerze "Chłodnictwa" prezentujemy kolejnego, 4-go już polskiego producenta. Nadal czekamy na materiały techniczne od następnych producentów i dystrybutorów specjalistycznych tuneli zamrażalniczych. Zaprezentujemy je w kolejnych publikacjach, zgodnie z zasadami określonymi w artykule wstępnym, otwierającym ten cykl.
PL
W niniejszym artykule prezentujemy drugiego polskiego producenta specjalistycznych tuneli zamrażalniczych. Nadal oczekujemy na materiały techniczne innych producentów, które zaprezentujemy w kolejnych publikacjach, zgodnie z zasadami określonymi w artykule wstępnym, otwierającym ten cykl ("Chłodnictwo" 4/1998).
PL
W niniejszym materiale prezentujemy następnego polskiego producenta tuneli zamrażalniczych. Tym razem jest to jeden z potentatów jeśli chodzi o przemysłowe urządzenia chłodnicze. W dalszym ciągu czekamy na materiały kolejnych producentów. Zapraszamy na nasze łamy, z korzyścią dla Czytelników.
PL
W tym numerze "Chłodnictwa" prezentujemy materiały techniczne dotyczące budowy, rozwiązań konstrukcyjnych, przenaczenia, wydajności i innych parametrów eksploatacyjnych specjalistycznych tuneli zamrazalniczych kolejnego producenta. Tym razem artykuł na temat swoich urządzeń nadesłała do redakcji firma...
PL
Tym razem prezentujemy pierwszego producenta zagranicznego. Jest nim angielski STARFROST (UK) Ltd. z Lowestoft w Wlk. Brytanii. Na terenie Polski firma jest reprezentowana przez biuro doradztwa technicznego i serwisu AGRO-STAR w Lublinie. Cieszymy się bardzo z możliwości zaprezentowania firmy o dużej renomie na rynku światowym, która w ciągu kilkunastu lat działalności dostarczyła swoje tunele ponad 300 klientom w 37 krajach, na wszystkich kontynentach. Wśród tych klientów jest także wiele zakładów polskich. Niniejszy artykuł został opracowany na podstawie otrzymanych z AGRO-STAR prospektów firmowych i informacji o firmie.
EN
The main goal of this research is to analyse the investment benefits from an incorporation of the volatility exposure to the diversified portfolio from the perspective of a Polish investor. Volatility, treated as a new asset class, may improve the performance of the portfolio due to its negative correlation with most types of assets. This topic has been widely investigated for the United States and Europe whereas the Polish market appears to be not heavily researched and this study may fill this gap. The research covers the period from October 2010 to July 2018 and is performed on daily close prices. To construct the portfolios the analysis uses the mean-variance framework and the naïve diversification approach. The comparison of risk-adjusted returns between investments with and without volatility exposure enables an answer to the research question about an improvement of the results by the addition of a non-standard asset to the diversified portfolios. The VXX is considered as the proxy for volatility as it is the most popular ETN which follows the volatility index derivatives with the given maturity. To test the robustness of the results the portfolios are constructed with a broad range of different parameters and assumptions imposed on the optimization procedure.
EN
The main aim of this paper is to diagnose the use of selected IT in the TSL sector enterprises in Poland. In order to achieve this goal firstly a description of domestic TSL sector services was introduced and secondly the nature and the role of IT in the contemporary organizations were presented. This paper shows profound analysis of available statistical data concerning the application IT in this sector compared to the whole economy.
PL
Artykuł ujmuje wybrane problemy jakości owoców egzotycznych oferowanych na krajowym rynku oraz preferencje młodzieży szkolnej. Jakość jest tutaj traktowana jako ogół właściwości owocu, związanych z jego zdolnością do zaspokojenia potrzeb konsumenta w zakresie smakowitości, a więc kompleksowego wrażenia odczuwanego przez zmysł powonienia i smaku. Zawiera także próbę oceny jakości sensorycznej wybranego zbioru owoców (awokado, granatu, kaki, mango oraz dwóch rodzajów melonów: miodowego i żółtego).
EN
The article looks at selected problems connected with quality of exotic fruits on domestic market and preference of school children. It presents quality as a flavour of fruits. Finally, it emphasizes opinion about quality (flavour) the choosing collection of exotic fruits.
EN
The authors of this paper describe functions associated with vegetable seed distribution on the Polish market. They describe the role of distribution in the vegetable seed trade and the characteristics of different distribution channels. The results presented were based on information provided by seed companies and other participants of the vegetable seeds distribution system. The research was completed for the years 2001-2004.
EN
The paper examines the relations between selected company characteristics and common stock returns. In the paper, we concentrate on four well-recognized fundamental factors determining stock returns: momentum, value, size and liquidity. First, we review the existing literature in the field. Second, we investigate the relationship between fundamental factors and stock returns on the Polish market. Our computations are based on all companies on the Warsaw Stock Exchange listed in the period 2000-12. Our research provides fresh out-of-sample evidence for momentum, value, size and liquidity premium from the Polish market.
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