Oeconomia Copernicana https://apcz.umk.pl/OeC <p><strong>Oeconomia Copernicana</strong> is a journal devoted to contemporary economics, finance and management, which is published by Instytut Badań Gospodarczych // Institute of Economic Research, Poland.</p> <p> </p> <p><strong>Current Journal website: <a href="http://oeconomia.pl/">www.oeconomia.pl</a></strong></p> en-US office@oeconomia.pl (Adam P. Balcerzak) greg@umk.pl (Grzegorz Kopcewicz) Tue, 30 Dec 2014 00:00:00 +0100 OJS http://blogs.law.harvard.edu/tech/rss 60 Indifference Curve Analysis: The Correct and the Incorrect https://apcz.umk.pl/OeC/article/view/OeC.2014.025 The thesis of this paper is that when the indifference curve is concave to the origin, the optimal point on the budget line is not the corner solution on the highest (most north eastern) indifference curve, the analysis all too often offered in the literature, but, rather, somewhat paradoxically, the lowest (most south western) indifference curve. The economics profession, as articulated through the megaphone of intermediate micro economics texts, offers a mixed result in this regard. Some few do offer a correct analysis, but many do not; others ignore the issue entirely. The contribution of the present paper and the aim of our research is to provide a correction of the widespread but erroneous indifference curve analysis that appears in many of our intermediate microeconomics texts. Our methodology is one of contrast: we offer what we see as both the correct and the incorrect versions of indifference curve analysis. José Antonio Manuel Aguirre Sotelo, Walter E. Block Copyright (c) 2015 Oeconomia Copernicana https://apcz.umk.pl/OeC/article/view/OeC.2014.025 Thu, 19 Feb 2015 00:00:00 +0100 Coopetition as the Factor of Increasing Level of Innovativeness in the SME Sector in Poland https://apcz.umk.pl/OeC/article/view/OeC.2014.026 <p>Companies in Poland can realize their goals by assuring the necessary organizational conditions and by partially restricting opportunistic behavior within the limits sufficient to take stable coopetitive actions. In the face of the present financial crisis, innovativeness is one of the basic parameters in evaluation of the SME sector in Poland.</p><p>The goal of the present article is to show that enhanced coopetition of the researched entities with huge holdings or concerns from Poland and with economic entities from the remaining countries of the European Union is a sine qua non of improving the level of innovativeness in the SME sector. The coopetition is defined as a phenomenon of simultaneous cooperation and competition of at least two entities, the aim of which is to better realize their goals or to work towards the common end.</p>If levels of competition and cooperation are low, companies assume the strategies of the owners of micro-, small- or medium-sized enterprises. Being a condition necessary to improve the level of innovativeness in the Polish SME sector, coopetition is characteristic of the companies whose activities are narrowly specialized. Aneta Ejsmont Copyright (c) 2015 Oeconomia Copernicana https://apcz.umk.pl/OeC/article/view/OeC.2014.026 Thu, 19 Feb 2015 00:00:00 +0100 Significance of the EU Funds in Investments of Small and Medium-Sized Enterprises https://apcz.umk.pl/OeC/article/view/OeC.2014.027 <p>Nowadays competitiveness of enterprises is determined by the size and range of implemented investment projects. The investments need to involve necessary resources. In the case of the SME sector, enterprises have limited financial assets. Therefore, Poland’s accession to the European Union and the opportunity to use its funding is a chance for development of this sector. The aim of the paper is to discuss the significance of EU funds in investments of SMEs and to present the most important advantages and barriers to their spending.</p><p>The research methods used in this paper are: study of literature and analysis of secondary data. The research material comprises programming documents and the results of research carried out at the request of the European Leasing Fund, the Polish Agency for Enterprise Development and the Polish Confederation Lewiatan.</p><p>Conclusions: EU funding is an attractive source of financing investments for enterprises. It is one of the most affordable forms of obtaining capital. Acquisition of additional financial means can determine the start of an investment, extend its scope, increase its rate and improve its quality. However, in practice the share of EU funds in financing SMEs investments is still small and entrepreneurs face many barriers to using this form of support. Major obstacles include: excessive bureaucracy, strict procedures, over-scrupulous office workers, lengthy verification of payment applications, as well as delays in payments to beneficiaries.</p> Anna Spoz Copyright (c) 2015 Oeconomia Copernicana https://apcz.umk.pl/OeC/article/view/OeC.2014.027 Thu, 19 Feb 2015 00:00:00 +0100 Model of Evaluation of the Management Effectiveness of State Corporate Rights of Industrial Enterprises in Ukraine https://apcz.umk.pl/OeC/article/view/OeC.2014.028 This paper proposes a method for increasing the efficiency of state corporate rights management of industrial enterprises by clarifying the evaluation of the efficiency of their management. This method is a model of comprehensive evaluation of enterprises on the basis of data that resulted in the reporting documents. Three groups of indicators were adopted and included: commercial, non-commercial and managing criteria. Integral performance criterion is the weighted sum of those three groups. Model performance evaluation was built using ordinal regression. Based on this model estimate the efficiency of state corporate rights management of industrial enterprises was obtained more accurately, providing a wide range of estimates. Leonid Galchinsky Copyright (c) 2015 Oeconomia Copernicana https://apcz.umk.pl/OeC/article/view/OeC.2014.028 Thu, 19 Feb 2015 00:00:00 +0100 Modeling of the Excise Taxation Influence on Components of Human Potential https://apcz.umk.pl/OeC/article/view/OeC.2014.029 The purpose of the research<strong> </strong>is analysis of a model of influence of excise tax rate increase for tobacco products in Ukraine on financial indices of state funds, prevalence of tobacco smoking, and indices of society health.<strong> </strong>Due to the results of research, the author determined the opportunities of the excise tax for tobacco smoking prevalence regulation in Ukraine. The dynamics of changes of specific and ad valorem rates of the excise tax and the dynamics of its contribution to the revenues of the State Budget of Ukraine were analyzed. The author estimated the changes of tobacco smoking prevalence in Ukraine on the basis of an adapted imitation model under conditions of increase of excise tax rates to the level of rates of the European Union countries. The research shows the excise tax is an effective financial regulator of tobacco smoking prevalence in Ukraine and it influences a population health condition. Increase of the excise tax rates causes reduction of amounts of tobacco product consumption and decrease of the share of smoking adults. Gradual increase of the Ukrainian rates to the level of the EU before 2018 may allow pulling from 1.0 to 1.9 million of people through premature death. Aside from a positive social effect of health enhancement, increase of the share of excise tax within a structure of a retail price of tobacco products will positively influence the growth of tax incomings to the State Budget. Consequently, under the Ukrainian contemporary economic environment the excise tax is an effective financial regulator of tobacco smoking prevalence. Serhii Londar, Liudmila Kozarezenko Copyright (c) 2015 Oeconomia Copernicana https://apcz.umk.pl/OeC/article/view/OeC.2014.029 Thu, 19 Feb 2015 00:00:00 +0100 The Funding of Modernization and Development of Transport Sector and its Infrastructure https://apcz.umk.pl/OeC/article/view/OeC.2014.030 The main purpose of the article is to analyze the existing approaches to the financing of transport infrastructure in the world and in Ukraine. It has been studied the model of financing of transport infrastructure in the OECD, the EU countries. The appropriate recommendations has been given to strengthen the processes of modernization in the transport infrastructure. Olena Nykyforuk Copyright (c) 2015 Oeconomia Copernicana https://apcz.umk.pl/OeC/article/view/OeC.2014.030 Thu, 19 Feb 2015 00:00:00 +0100 Valuation Model of Heritage Assets in a Public Museum – A Transdisciplinary Approach https://apcz.umk.pl/OeC/article/view/OeC.2014.031 <p>The new public management account requires an opening balance sheet which needs to depict all assets and capital. This is also true for heritage assets in public museums. However, there exists neither in Germany nor generally an accepted international valuation approach, while at the same time there is a cut for public budget. As a result, the communes must decide on which area of responsibility to allocate financial resources and in what amount. With regard to museums, it means to define the tasks according to the strategic target planning, and to consequently derive the portfolio of the museum.</p>The following article aims at designing a model for the challenge described. This is based on a trans-disciplinary approach and builds upon an extensive literature study, qualitative expert interviews and an evaluation in three existing museums. The focus is on the question of how art and cultural objects can be valued for accounting purposes. It is important to value the assets not only according to economic criteria but, due to the special task of museums, to also assess assets after their social benefits. Bärbel Held Copyright (c) 2015 Oeconomia Copernicana https://apcz.umk.pl/OeC/article/view/OeC.2014.031 Thu, 19 Feb 2015 00:00:00 +0100 Analysis of the Cobb-Douglas Production Function as a Tool to Investigate the Impact of FDI Net Inflows on Gross Domestic Product Value in Poland in the Period 1994–2012 https://apcz.umk.pl/OeC/article/view/OeC.2014.032 The purpose of this paper is to analyse the impact of foreign direct investments net inflows on changes in GDP value in Poland in the period between 1994 and 2012 with the use of the Cobb-Douglas production function. The paper consist of five parts. Parts I and II present some aspects of the FDI influence on economic growth from the theoretical and empirical point of view. Part III defines conditions indispensable for the positive FDI impact on the economy of the host country. Part IV outlines changes of FDI flows in Poland in the period of 1994-2012. Part V includes the main assumptions of the Cobb-Douglas production function and an estimate of changes in GDP value for Poland in the period 1994<strong>–</strong>2012 with the use of the VECM. The factors significant for economic growth are also identified, including the significance of the net FDI inflows. Eventually, the effect of gross fixed capital formation, employment, FDI net inflows, exports and R&amp;D on changes in the GDP value are determined. Aneta Kosztowniak Copyright (c) 2015 Oeconomia Copernicana https://apcz.umk.pl/OeC/article/view/OeC.2014.032 Thu, 19 Feb 2015 00:00:00 +0100