Editors: Joost Platje and Tomasz Rólczyński
Editor-in-chief: Prof. Johannes Platje

 


Vol. 1, No. 3, September 2017

Authors: Joost PLATJE, Markus WILL, Jeffrey HARVEY, Remko KAMPEN

Article:—

Aim:—

Design / Research methods:—-

Conclusions / findings:—-

Originality / value of the article:—

Keywords:—

JEL:—


Vol. 1, No. 3, September 2017

Example of entering a new market

 

Author: Jens PICKERT

Cracow University of Economics, Poland
FernUniversität in Hagen, Germany

Article: —-

Aim: The aim of the paper is to show the risk assessment of unsecured loans in theory and practice.

Design / Research methods: In the first part, the paper does literature review concerning the theory of unsecured loans and their risk assessment. In the second part, a case study discusses the risk assessment process as a practical application in the hypothetical case if a Swedish bank enters the German market.

Conclusions / findings: The risk assessment of unsecured loans is a standardized process where scoring models make a crucial contribution. The case study shows how difficult that process is in the event of cross-border activities, for example, a bank enters a new market in a new country.

Originality / value of the article:

Keywords: unsecured loans, scoring models, risk assessment

JEL: G21

 


Vol. 1, No. 3, September 2017

Operation assessment of Polish property funds terminated within set deadlines

Author: Artur A. TRZEBIŃSKI

Wrocław University of Economics, Poland

Article: —-


Aim: The paper seeks to assess the managers’ efficiency with respect to the property fund management and profitability of funds.

Design / Research methods: The study employs the elements of financial analysis and case studies.

Conclusions / findings: The findings show low profitability of the property funds under study (only one fund brought profit to investors while the other five brought losses), low efficiency of their managers, with the funds’ operations being high cost-intensive. The study reveals that the investment strategies and business models applied are little effective and therefore require changes and the application of other solutions.

Originality / value of the article:The study is concerned with the property funds which were terminated or whose termination started at the date set by their managers, which allows the managers’ efficiency to be assessed at each stage of the fund’s lifetime. The study follows up and builds on the author’s previous research. To the author’s knowledge, there have so far been no similar studies.

Keywords: property funds, profitability of property funds, investment fund management efficiency, financial analysis

JEL: G17, G23

 


Vol. 1, No. 3, September 2017

Accounting rules for revenues arising from insurance products offered in banks

 

Author: Edward PIELICHATY

WSB University, Poland

Article: —-


Aim: The paper follows up and builds on the author’s considerations pertaining to the market of bancassurance products and the accounting treatment for remuneration banks receive for offering this kind of products. The article aims at presenting the new rules of accounting for and recognition of insurance commission in the bank accounting books, as they have been recommended by the Polish Supervision Authority (PSA) since 2013, and the assessment of impact of those new rules on the bank financial results.

Design / Research methods: This paper seeks to verify the hypothesis stating that the bank’s financial performance may deteriorate significantly after the implementation of the new accounting rules for commission received for selling insurance products, recommended by the Polish Supervision Authority in 2013. The study was conducted on the basis of the reports of the Polish Chamber of Insurance, using the comparative analysis method. Moreover, the paper employs a critical analysis of academic literature and the PSA recommendation (guidelines) for bancassurance.

Conclusions / findings: The studies have confirmed the assumption made as to the financial performance of the banks in Poland offering bancassurance-type products over the early years of the PSA’s new recommendation being in force.

Originality / value of the article: The set of issues this paper is dedicated to is very much up-to-date in Poland. In 2013, the new “U” recommendation of the PSA was implemented in banks, specifying, among other things, the rules for the recognition of revenue from offering insurance products.

Implications of the research (if applicable): The paper shows the practical implications of the implementation of the new accounting rules for insurance commission for the valuation of credit portfolios in the banks linked to insurance products. It represents a valuable source for bankers dealing with the issues of recognition of insurance commissions in the bank accounting books.

Limitations of the research (if applicable): The paper may inspire others to conduct further research on the methods of valuation of bancassurance-type products.

Keywords: bancassurance, insurance commission, effective interest rate

JEL: —-


Vol. 1, No. 3, September 2017

Taxation of agricultural holdings in Poland with personal income tax

 

Author: Mikołaj MIELCZAREK

Article: —-


Aim: The paper deals with the subject of the shift in Poland’s form of agricultural taxation from agricultural tax to personal income tax. The author decided to explore this topic since the taxation of agriculture is an important issue from the standpoint of economic practice. In addition, a similar solution exists virtually in all the European Union countries. The research objective of this paper is an attempt to assess the fiscal consequences for the state arising from the change of the agricultural taxation form.

Design / Research methods: The paper employs literature research and examines legal acts, as well as conducts empirical simulation. The literature research and that concerned with legislation were aimed at presenting the forms of agricultural taxation in the EU countries and the approaches to taxing agricultural incomes. The empirical simulation of fiscal effects of agricultural taxation in Poland has been carried out in three scenarios: general (using different sample rates), comparing with agricultural tax, and revenues distribution across the state budget and territorial self-government units.

Conclusions / findings: The empirical studies conducted for the years 2010-2014 have shown that replacing agricultural tax with income tax would be a good solution for farmers, provided that low tax rates were to be applied. At higher rates, this solution would be unfavorable. At the same time, the replacement of agricultural tax with income tax would benefit the state and regional governments and counties, as their budgets would gain additional tax revenues. On the other hand, the municipal government would benefit with the application of tax rates higher than 10%.

Originality / value of the article: In the context of the existing research, the scientific value of the paper consists in the comparison of the amount of agricultural tax receipts with those from the farm income taxation.

Keywords: agricultural tax, personal income tax, income from agriculture, farming, special branches of agricultural production.

JEL: G38, H24, H25, H71, K34, Q14

 


Vol. 1, No. 3, September 2017

Agile effort estimation in software development projects – case study

Author: Maciej ŁABĘDZKI

Article: —-


Aim: —-

Design / Research methods:

Conclusions / findings:

Originality / value of the article:

Keywords: software development, estimation, effort, measurement, requirements engineering, story points, Scrum

JEL: L86

 


Vol. 1, No. 3, September 2017

Identyfikacja tendencji i uwarunkowań związanych z poziomem płac w Polsce, na podstawie przeciętnych wynagrodzeń realnych wypłacanych w latach 2004 2014


Author: Krzysztof JANKOWSKI

Article: —

 

Article:—

Aim:—

Design / Research methods:—

Conclusions / findings:—

Originality / value of the article:—

Keywords:—

JEL:—

 


Vol. 1, No. 3, September 2017

“Anti-competition agreements” and legal options to pursue claims for damages before common courts


Author: Wojciech Paweł SZYDŁO

University of wrocław, Poland

Article: —

 

Aim:—

Design / Research methods:—

Conclusions / findings:—

Originality / value of the article:—

Keywords: public competition law, anti-competition agreements, relevant market, the abuse of dominant position

JEL: K23