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 Issue 27 (March 2017)

 

Anna Dąbrowska
Institute for Market, Consumption and Business Cycles Research

Mirosława Janoś-Kresło
Warsaw School of Economics, Collegium of Management and Finance

Małgorzata Radziukiewicz
Institute for Market, Consumption and Business Cycles Research

Abstract
Fair Trade is an organised social movement, a trading partnership based on dialogue, transparency and respect, whose strategy is to cooperate with marginalised producers and workers. The paper discusses selected results of empirical studies conducted in 2013 withinthe framework of research project Polish Market of Fair Trade Products financed from the NCN funds, concerning the Fair Trade idea and Polish consumer behaviour in the market of Fair Trade products. They demonstrated that Fair Trade idea is not a subject of interest to wider circles of Polish consumers. Polish consumers most willingly buy stimulants, tea, coffee, and food products. Many of them decide to buy such products influenced by ethical and environmental factors.

Keywords: Fair Trade, Fair Trade Products, Polish Consumers

Wojciech Paprocki
Warsaw School of Economics, Collegium of Management and Finance

Abstract
Consumer goods market has evolved in recent four decades together with the disseminationof digital technologies and development of e-commerce. Practices based on human intelligence that solidified over ages are nowadays being supplemented in omni-channels with automated operations supported with artificial intelligence. The emergence of actors, who by applying disruptive innovations try to assume the role of operators of virtual platforms with dominant position in the global market is of primary importance. The paper discusses various business models in analogue and digital economies and the impact of their dissemination on market changes. It describes the entering of the market and fostering the position of e-commerce leaders, with Amazon.com playing an increasingly prominent role. The Author highlights potential effects of a dominant market position of such an operator.

Keywords: E-Commerce, Relationships on the FMCG Market, Digital Technologies, Virtual Platform Operators

Piotr Feliks Borowski
Warsaw University of Life Sciences, Faculty of Engineering Production, Poland
 
Sufa Gemechu Balcha
United Bank S. C., Etegue Taitu, Addis Ababa
 
Mahteme Girma
Abay Bank S. C., Addis Ababa

Abstract
The development of the economy in general and the firm’s development in particular depend on easy and unlimited access to financial support. The aim of this research is to investigate the cooperation between United Bank and firms in the loans field. Moreover, research indicates that the strengths and weaknesses of the loan process come from the staff as well as from customers’ point of view. The value of the research is due to the information gained from direct access to real cases from bank activities and from conducted interviews with both sides involved in the loan process. Individual in-depth interviews and questionnaire are the formal mechanisms for gathering sensitive information.

Keywords: Financial Institution, Commercial Banks, Borrowing, Savings and Loan, Management, Investments

Krzysztof Borowski
Warsaw School of Economics, Collegium of Management and Finance
 
Małgorzata Łukasik
Warsaw School of Economics, Collegium of Management and Finance
 
 
Abstract
The commodity market has been becoming one of the most popular segments of the financial markets among individual and institutional investors in recent years. Similarly to the equity market, the problem of anomalies in the commodities market is becoming an interesting phenomenon, especially in the segment of the precious metals. This paper tests the hypothesis of monthly, the day-of-the week and weekend effects of the precious metal markets quoted on the London Metal Exchange for gold, silver, platinum and copper in the period of 1.01.1995–31.12.2015 considering also palladium in the period 1.01.1998–31.12.2015. Calculations presented in this paper indicate the absence of the monthly effect on gold, silver, platinum, copper markets but proved occurrence of monthly anomaly in the month of September on palladium market. In the analyzed period day of-the week effect for any of the studied metal markets was not observed but the weekend effect was registered on the gold and copper markets.

Keywords: Market Efficiency, Metal Markets, Calendar Anomalies

Tomasz Dorożyński
Faculty of Economics and Sociology, University of Łódź

Janusz Świerkocki
Faculty of Economics and Sociology, University of Łódź

Wojciech Urbaniak
Faculty of Economics and Sociology, University of Łódź

Abstract
One of the ways to convince investors, in particular foreign ones, to participate in the pursuit of host country’s economic policies leads through the development of Special Economic Zones (SEZs), which are designed to offer business environment more favourable than
in other locations. The SEZs, which have been established and developed in Poland, play a positive role in attracting foreign direct investment (FDI) or creating new jobs but they may also have negative consequences, such as deepening regional disproportions in the country. This paper aims at examining whether location in a particular region (understood as a unit of administrative division of the country at the level of a voivodship) could be a factor determining the inflows of foreign direct investment (FDI) to the SEZs. The study uses statistical methods (Spearman’s rank correlation and Pearson correlation). Our calculations have shown statistically significant positive relationships between FDI inflow to SEZs and coefficients that describe the attractiveness (collective and partial) and economic advancement of voivodships. However, it seems that against hopes vested in them, SEZs do not reduce regional economic differentiation in Poland. The results may suggest the need to reconsider the so far applied policy designed to support investors. At the same time, they prove that State interference intended to mitigate market imperfections may itself become the source thereof.

Keywords: FDI, Special Economic Zones, Voivodships