2(21)/2008

Agata Kocia
Faculty of Economic Sciences, Warsaw University
IMPACT OF EU TAXATION SYSTEMS ON 1998-2004 ECONOMIC GROWTH


This article presents a review of theoretical and empirical tax competition and institutional competition as a basis for constructing and testing an original endogenous growth model. The corporate and personal tax systems in the European Union members are very different and complex. For many years they have motivated countries to modify their systems and offer incentives, e.g. lower tax rates and tax breaks for creating jobs to attract businesses in order to improve economic growth. In turn, these processes have attracted the attention of government officials, politicians and researchers to study their impact on growth, among them, Tiebout (1956), Brennan and Buchanan (1980), Zodrow and Mieszkowski (1986) and North (1992). Their work provided conflicting results, while empirical studies increased ambiguity. The author of this work hopes to add another dimension to that literature, with an empirical model providing additional support for positive effects of tax competition and institutional tax variety among EU members on their economic growth.
Keywords: tax competition, Tiebout, Leviathan hypothesis, Zodrow-Mieszkowski model

Dariusz Klonowski
Department of Business Administration, Brandon University, Canada
CORPORATE GOVERNANCE AND THE VENTURE CAPITAL PROCESS IN EMERGING MARKETS: EVIDENCE FORM POLAND


This article examines the perceived corporate governance problems within the venture capital investment process. Evidence is provided to demonstrate that venture capitalists in Poland address their corporate governance concerns in a sequential or hierarchical manner. Venture capitalists first focus on addressing issues related to financial control and accountability (during the screening stage). Secondly, they address conflict of interest concerns (during the deal agreement stage). Once these two major corporate governance concerns are addressed, venture capitalists move to focus on corporate governance enhancement (during the monitoring stage), and, finally, on value maximization (during the divestment stage). 99 questionnaires were sent out to investment officers from thirty three venture capital funds operating in Poland, yielding the response rate of 56 percent.
Keywords: venture, capital, corporate, governance, Poland

Waldemar Florczak
Department of Econometric Models and Forecasts, University of Łód?
MACROECONOMIC DETERMINANTS OF WAGES INEQUALITY IN POLAND


In the paper an attempt has been made to empirically verify the relevance for Poland of the so called Kuznets hypothesis, being the basic fundamental of macroeconomic theories of wage and income inequality. A survey of the existent literature lets the author claim that no research of that type has yet been carried out for the case of Poland. Presentation of results is preceded by a concise survey of literature, with an emphasis on the outcomes of previous empirical research. Verification of the Kuznets hypothesis - both the simple and the augmented - was done with reference to the models used most frequently while investigating into the Kuznets curve. The outcomes - validated by a solid statistical inference - do not confirm the credibility of the simple hypothesis but suggest the relevance of the augmented Kuznets hypothesis. Thus, it follows from the results that in the long run the economic inequality in Poland is bound to diminish.
Keywords: wages inequality, Kuznets hypothesis, step-wise regression, statistical inference determinants of inequality

Grażyna Osbert-Pociecha
Department of Economics and Enterprise Organization, Wrocław University of Economics
THE CONCEPT OF ORGANIZATIONAL FLEXIBILITY - SOME THEORETICAL AND EMPIRICAL ISSUES


In this article presenting the results of the research project, an attempt was made to conceptualize the notion of the organizational flexibility, applying for this purpose the hitherto literary works on the subject and verifying understanding and evaluation of managing flexibility by the practitioners in the field of economics.
Keywords: flexibility, conceptual framework, results of survey

Jaroslav Kita, Marta Grossmanová, Pavol Kita
University of Economics in Bratislava
MARKETING ASPECTS OF MARKET ORIENTATION OF SLOVAK INDUSTRIAL ENTERPRISES IN PURCHASING


Orientation on market is becoming a new instrument of modern industrial enterprises with regard to the fact that the speed of response to the behaviour of customers, suppliers and competition requires mastering a great amount of information which is important for the formulation of an enterprise marketing policy. At the same time it concerns the core of problem solving of a marketing manager, who is wishing to change the company culture in the sphere of purchase in favour of one which is more market oriented. The approach of the article is characterized by two levels: a theoretical one, which presents the synthesis of present scientific knowledge on this specific problem, and an operational one, which is presented by the research results, illustrating and explaining the concept of market orientation in the purchase sphere of industrial enterprises. The company culture is closely connected with training of workers in the purchase sphere. Improving of professionalism and competence of buyers has an increasing strategic character. In connection with this development, within the project ESF, the University of Economics in Bratislava in cooperation with the University of Pierre Mendes France in Grenoble offers an international university study programme of Sales Management in French, the project Code 131 201 20293 JPD 3 2005/NP1-036 aimed at the education of experts in the purchase sphere. At the same time this topic is linked to the scientific-research task VEGA 1/0228//08 New Approaches to the Management of Supply Industrial Enterprises.
Keywords: market orientation concept, purchase of industrial enterprises, suppliers, market research, competitiveness

Radosław Wiśniewski
Department of Land Management and Regional Development, University of Warmia and Mazury in Olsztyn
SELECTED ASPECTS OF THE USE OF ARTIFICIAL NEURAL NETWORKS FOR THE MASS APPRAISAL OF REAL ESTATES IN POLAND


Mass appraisal is a specific process of property valuation employing mass appraisal methods. The results of recent research and practical implementation show that property value estimation may be based on statistical methods. The aims of the present study were as follows: (1) to discuss the possibilities of an artificial neural network application (ANN MLP - Multi-Layer Perceptron), (2) to describe the specific characteristics of ANN, (3) to evaluate the obtained results, and (4) to develop the methodology of ANN application in the mass appraisal of real estate in Poland. The results obtained using multiple regression models were compared with those obtained using ANN MLP models.
Keywords: mass appraisal, artificial neural networks, regression, valuation of real estates

Dariusz Dąbrowski
Faculty of Management and Economics, Gdańsk University of Technology
NEW PRODUCT PRACTICES AND PERFORMANCE OF GERMAN APPLIANCES COMPANIES


An efficient new product strategy for German industry of household appliances, requires being first in the market. Concept testing, concept screening, marketing plan development and market introduction are new product process activities which have a positive impact on new product performance in the industry. Also applying project matrix and outsourcing prototyping or tooling are an effective means of new product development for German producers of household appliances.
Keywords: new product development, product performance

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