The purpose of this publication is to investigate the relationship between concerns about external and internal agency conflicts in family businesses and family control over the company and forms of international cooperation. The study is based on surveys conducted among 101 family businesses in Poland. The author examines the following theses in particular: the high level of concern about internal agency conflicts (within the company) implies that there will be more family control over the business; some forms of international cooperation are rarely used by family businesses due to concerns about international (external) agency conflicts that may arise between a family business and its foreign partners; the main reason for undertaking international cooperation is to increase sales and reduce operating costs.
There are many studies aiming at estimation of aggregate trade effects of the euro adoption by the old EU countries, which are based on the augmented gravity model. In contrast to the existing literature, we investigate whether the adoption of the common currency increases the export activity of individual firms. In particu-lar, we refer to the new strand in the trade theory literature, based on the Melitz (2003) model, in which export performance depends on labor productivity and costs of exporting. There are already many empirical studies, based on firm level data, showing the relevance of the Melitz (2003) model. Most of those studies demonstrate that export performance positively depends on firms’ characteristics such as labor productivity, spending on R&D, age of the firm, the stock of human capital or propensity to innovate, but they do not take into account the impact of the common currency on the cost of exporting. There are only few studies analyzing trade implications of euro adoption for firms’ exports of “old EU” members. In our empirical paper we use the firm level data basis set up by the EBRD and the World Bank for Central and Eastern European Countries. Using the probit model, we analyze whether the accession of Slovenia and Slovakia to the Eurozone did increase the firms’ propensity to export in those countries.
W wyniku łatwiejszego dostępu do rynków zbytu państw członkowskich i wyższych cen uzyskiwanych na tych rynkach nastąpił szybki wzrost wpływów z eksportu zwierząt oraz mięsa i jego przetworów. Jednocześnie wzrosła wartość importu, w tym głównie mięsa wieprzowego, ale rósł on wolniej niż eksport. Udział UE-27 był wysoki zarówno w eksporcie (88%), jak i w imporcie (96%). Wzrosło dodatnie saldo obrotów handlu zagranicznego zwierzętami, przetworami mięsnymi oraz mięsem wołowym i drobiowym. Natomiast w handlu mięsem wieprzowym z państwami piętnastki występował deficyt.
EN
Due to easier access to the EU market and transaction prices higher in the EU, the revenue on exports of livestock, meat and process meat rapidly grew. At the same time there was a bulk increase in imports (mainly pork) however it lagged much behind the growth of exports. The share of UE-27 was very high in the case of both exports (88%) and imports (96%). The positive balance of Polish trade in livestock, meat products, beef and chicken meat with the EU increased while in the case of pork a deficit was reported.
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W publikacji przedstawiono zmiany w zakresie importu i eksportu surowców mineralnych w Polsce w okresie transformacji gospodarczej począwszy od 1989 roku. Opisano przeobrażenia jakie nastąpiły w wielkości, wartości oraz strukturze (asortymentowej i geograficznej) obrotów ważniejszymi polskimi surowcami mineralnymi na rynku międzynarodowym.
EN
This paper presents the changes in export and import of Polish mineral raw materials during the period ol ecunimw transformations since 1989. In addition, the changes in values and magnitude of turnover of the most important Polish raw ma\ on foreign markets, and in assortment and geographical structures are discussed.
Given the rising importance of global value chain, this paper analyses long-run shifts in export competitiveness of Lithuania’s agri-food industry compared to high and medium-high-technology industries in the context of Lithuania’s export vertical specialization. The combination of two complementary parameters of competitiveness i.e. Balassa (1965) index of Revealed Comparative Advantage (RCA) and Total Effect (TE) index proposed by Nyssens and Poullet (cited in Ama-dor and Cabral, 2008, p. 202) were used. The matrix of both indexes builds on the scheme of analytical tool “products mapping” suggested by Widoto (2009). Our analytical tool is applied for the empirical analysis of export flows of goods by three end-use categories within aggregate agri-food industry the same as four manufacturing industries classified by R&D intensities, i.e. high-, medium-high-, medium-low- and low-technology industries. The OECD’s STAN Bilateral Trade Database by Industry and End-use category at the same time was applied to empirical analysis. The findings based on detailed analysis indicated significant differences in export competitiveness and its gains or losses in a long-term period among different reporting Lithuania’s industries and different goods by end-use category.
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Low labour costs in Poland contribute to its higher participation in global value chain. Nevertheless they can solidify the disadvantageous structure of Polish production and export (with small participation of high technology products and quite a prominent share of imported semi-finished products in the export volume). Strong competition among countries and ease of goods and services flow increase the significance of product specification. The level of technology sophistication determines the quality of products and production efficiency and furthermore facilitates transfer from labour-intensive to capital-intensive branches. The main issue of this article is to verify the impact of labour costs level on the volume and structure of Polish export. The time period (2007-2016) refers to the time before and after the world financial crisis when in 2009 export of most of the European economies crashed. The data is from Eurostat and GUS database. Methodology includes an overview of the literature, deduction, the method of least squares and index of similarities in structure.
The purpose of the study was to verify whether exporters use more liabilities in their financing structure than non-exporters. The study was conducted for companies listed on the Warsaw Stock Exchange for the years 2000–2009. Capital structure was measured with a debt ratio calculated as a ratio of total liabilities divided by total assets. To test the statistical significance of differences between exporters and non-exporters I used the Cochrane-Cox test. Differences in the debt ratios were not always statistically significant but, apart from companies manufacturing and selling metal products, all remaining exporters had comparable or higher debt ratio values than non-exporters.
The purpose of the study is to verify the hypothesis holding that the positive effects of exports improve the profitability of businesses. The positive impact of exports on return on equity is confirmed by both a dynamic panel data model and Granger causality test. Calculations were performed for 50 manufacturing companies listed on the Warsaw Stock Exchange. The dynamic panel data model was estimated using the Blundell-Bond estimation technique.
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Marketing strategies of mining companies evaluated on the basis of their competitive strenght on the foreign market include the strategy of cooperation. Mining companies use this strategy especially when the foreign market is attractive for too many of them while the internal strenght of individual companies is inadequate to ensure succes in terms of rapid increase of export volumes. Advantages of this marketing strategy as well as possible dangers which may be the result of increase use are duly considered.
PL
Spośród strategii marketingowych przedsiębiorstw przemysłu wydobywczego, ocenianych z punktu widzenia ich stosunków do konkurentów na danym rynku zagranicznym, coraz częściej jest stosowana strategia kooperacji. Prowadzona jest ona przez przedsiębiorstwa przemysłu wydobywczego przede wszystkim wówczas, gdy potencjalny zagraniczny rynek zbytu jest dla nich atrakcyjny, a równocześnie gdy atuty wewnętrzne danego przedsiębiorstwa, traktowanego oddzielnie, nie są wystarczające, aby mogły zapewnić osiągnięcie przez to przedsiębiorstwo sukcesu w postaci szybkiego wzrostu eksportu produkowanych przez niego surowców mineralnych. Zanalizowano zalety i korzyści płynące z prowadzenia tej strategii marketingowej oraz zagrożenia, które mogą powodować nieumiejętne jej stosowanie.
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The aim of this article is to diagnose the state of Polish-Ukrainian economic relations in the area of trade in goods and services, with particular emphasis on the export of goods to the Ukrainian market. The study includes an analysis of the legal conditions and statistical data on trade cooperation between Poland and Ukraine. In order to deepen the theoretical discussion, a quantitative study was carried out among Polish enterprises cooperating with Ukrainian partners, or operating on the Ukrainian market. The results are primarily focused on depicting the exports of goods and services of Polish entrepreneurs to the Ukrainian market.
PL
Celem artykułu jest diagnoza polsko-ukraińskich relacji gospodarczych w obszarze wymiany towarowej i handlu usługami, ze szczególnym uwzględnieniem eksportu towarów na rynek ukraiński. Badania obejmują analizę uwarunkowań prawnych oraz analizę danych statystycznych dotyczących współpracy handlowej między Polską i Ukrainą. W celu pogłębienia rozważań teoretycznych przeprowadzone zostały badania ilościowe wśród polskich przedsiębiorstw współpracujących z ukraińskimi partnerami lub działających na rynku ukraińskim. Prezentowane wyniki badań skupiają się przede wszystkim na ukazaniu problematyki eksportu towarów i usług polskich przedsiębiorców na rynek ukraiński.
The Balassa index (Revealed Comparative Advantage Index – RCA index) is used to estimate a country’s export attractiveness and comparative advantage by industry sectors or commodity groups. Because it ranges from 0 to ∞, the measure has many drawbacks. Its empirical distribution is strongly asymmetric and is not stable in time. The Revealed Comparative Advantage Index distribution is strongly dependent on the number of reference countries, industries and commodity groups. As a result, some parameters of the RCA index distribution are not stable. These problematic properties render its outcomes incomparable across time and space. The paper proposes a transformation of the RCA index measure into a new index ranging from –1 to 1 by using a special class of rational functions. The new measure has a symmetric distribution with a stable mean and is independent of industry sectors and commodity groups. The adjusted Revealed Comparative Index was used to research export competitiveness in Poland as compared with Germany. The article compares the stability of the empirical distribution of the Adjusted Revealed Comparative Index and Balassa index across time and according to commodity groups. The data used come from Eurostat on Polish and German export and import commodities by Standard International Trade Classification (SITC) in 2005–2009.
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The research paper discusses the concept of competitiveness of economy and analyzes export as an indicator of it. The analysis is started by the historical review of export development. Statistical data show that three Baltic countries have been following different path of export growth since Russian crisis. Different export market orientation and manufacturing sector's longer reorientation process provide an explanation. Furthermore, the historical analysis shows that export growth relation with foreign demand growth and GDP growth is not as strong as it might be expected. In order to estimate possible long-run GDP growth prospects, the structural analysis of trade is performed. The conclusions of the latter revealed high dependence of trade on conjuncture in foreign markets and supported the need of further price and non-price competitiveness analysis. Surprisingly, the results of the former indicate that price indicators do little to explain export development. Conversely, the results of the latter, based on CMSA methodology, show that market orientation of Lithuanian exports adds the most to its competitiveness; meanwhile the product orientation is generally unfavorable. Finally, the relation between FDI structure by countries and trade flows of processed industrial supplies is analyzed. Although data analysis does not reject the existence of such hypothesis, a more detail analysis should be conducted in the future.
This paper investigates the nature and pattern of export specialization in Lithuania. The aim of this paper is to estimate the nature and pattern of Lithuanian export specialization under the existing conditions. Seeking to define the nature and pattern of export specialization, the basic methods of export specialization measurement and the nature and pattern of export specialization in trade between Lithuania and the EU are determined. For measurement of the pattern of export specialization in Lithuania two approaches are adopted. The index of export specialization is used to determine the pattern of comparative advantage. Secondly, trade dissimilarity index is used to predict structural changes in Lithuanian exports. Using these methods of measurement and standard international trade classification (SITC), the nature and pattern of Lithuanian export specialization was determined. It was found that the biggest flows from Lithuania to the EU are in the following groups: food, drink and tobacco; raw materials; mineral fuels, lubricants and related materials. These calculation results show the main directions of nature and pattern of export specialization. This research could be useful for preparing and forecasting the possibilities of Lithuanian export development.
This paper presents the changes that have occurred in the export and import of milk and milk products after 2004. The analysis made for the period 2003-2014 based on data from Central Statistical Office and the Institute of Agricultural Economics and Food Economy. To illustrate the changes in exports and imports of dairy products the dynamics of change in the analyzed period was calculated, as well as the quantitative and valuable structure of Polish imports and exports of these products in 2003 and 2013. There was also used a clustering analysis of features and objects in the paper. The international trade of Polish dairy articles has gained importance due to the accession of Poland to the European Union. Poland is primarily an exporter of unprocessed or processed to a small extent productes, i.e. liquid milk and cream, whey and milk powder. From dairy products mainly cheese and curd are exported. However, Poland is not a known exporter of ice cream or yogurt and fermented beverages. Since 2004, the main importer of Polish dairy products are the EU countries. In 2013, more than 70.1% of all exported dairy products were exported to those countries, while in 2003 only 37%. The reason for such a large increase in exports to the EU countries was largely the abolition of customs duties, the competitive prices of Polish products and their high quality. The exchange rate had also an effect on trade in milk products, as well as other products. Poland also exports, although much less than before the accession to the European Union, to the developed countries and the Commonwealth of Independent States and Central-Eastern Europe. The balance of total dairy articles as well as in the division into processed and unprocessed products was positive in the analyzed period.
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This paper investigates the relationship between exchange rate volatility and export performance of the Egyptian economy for the period (1980-2016). Moving average standard deviation and conditional standard deviation from GARCH model are used to generate two different measures of exchange rate volatility. The co-integration results indicate the existence of a unique long-run relationship between the real value of non-petroleum exports (as well as the volume of total exports) and the GARCH measure of exchange rate volatility. Using a Vector Error Correction Model, it is found that the volatility of the real effective exchange rate has a significant negative effect on real exports, whereas the effect of the level of real effective exchange rate itself, is not found to be statistically significant. Relevant policy implications are derived from these results.
W 2006 r. została zahamowana wzrostowa tendencja w eksporcie produktów mleczarskich, który mimo to pozostaje na 2,5 razy wyższym poziomie niż przed integracją z UE. Barierą wzrostu eksportu jest system kwot mlecznych, który utrudnia dalsze zwiększenie skupu i przerobu mleka. Czynnikiem ograniczającym wzrost eksportu był także niekorzystny dla eksporterów kurs walutowy. Korzystne były zmiany w strukturze towarowej eksportu. Równocześnie nastąpił dalszy wzrost przywozu, ale jego udział w podaży rynkowej jest bardzo mały. Wymiana handlowa polskiego sektora mleczarskiego jest coraz bardziej związana z rynkiem unijnym.
EN
Although an upward tendency in 2006 was hampered dairy exports still remain at the level 2,5 times higher than before the accession to EU. Main obstacle for the growth of dairy exports is the milk quota system limiting further increase in milk procurement and processing. Unfavourable for Polish exporters exchange rate was another factor hampering exports. On the other hand there were positive changes in the structure of dairy exports. At the same time dairy import kept growing as well, however their market share is so far insignificant. Polish foreign trade in dairy products becomes more linked with the EU market.Although an upward tendency in 2006 was hampered dairy exports still remain at the level 2,5 times higher than before the accession to EU. Main obstacle for the growth of dairy exports is the milk quota system limiting further increase in milk procurement and processing. Unfavourable for Polish exporters exchange rate was another factor hampering exports. On the other hand there were positive changes in the structure of dairy exports. At the same time dairy import kept growing as well, however their market share is so far insignificant. Polish foreign trade in dairy products becomes more linked with the EU market.
Po akcesji Polski do UE, w wyniku łatwiejszego dostępu do rynków zbytu państw członkowskich i wyższych cen uzyskiwanych na tych rynkach niż w eksporcie do państw trzecich, nastąpił szybki wzrost wpływów z eksportu wołowiny, wieprzowiny i drobiu. Zmieniła się struktura towarowa eksportu. W eksporcie produktów wołowych wzrósł udział mięsa, nastąpił wyraźny spadek eksportu półtusz mrożonych, zwiększył się udział wysokogatunkowych elementów mięsa z kurcząt i z indyków w eksporcie produktów drobiowych. Jednocześnie wzrosła wartość importu, w tym głównie mięsa wieprzowego. Ale rósł on znacznie wolniej niż eksport.
EN
Due to easier access to the EU market and higher transaction prices obtained there, than on third country markets, the revenue on exports of pork, beef and poultry after the accession rapidly increased. There were also changes in the structure of exports. Regarding beef the share of half carcasses frozen declined in favour of raw meat. In the case of poultry the share of high-quality chicken and turkey parts increased. At the same time there was a bulk increase in imports (mainly pork). However the imports were growing at lower rate then the exports.
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