rss_2.0International Journal of Management and Economics FeedSciendo RSS Feed for International Journal of Management and Economics Journal of Management and Economics Feed value chains before and in times of the COVID-19 pandemic<abstract> <title style='display:none'>Abstract</title> <p>This paper aims to examine the changes in global value chains (GVCs) in the years 2020–2022 (times of the COVID-19 pandemic) compared to 2019 (last year before the pandemic). GVCs are illustrated by diagrams based on the statistics on international trade measured by value-added exports and imports. In this paper, the final demand approach is applied to measure international trade by value-added exports and imports and they were computed based on inter-country input-output tables delivered by the Asian Development Bank (ADB). The catchphrase “Made in the World” makes an impression, but in reality, value chains are rarely global. They are rather regional with three centers. “Factory Europe”, “Factory Asia”, and “Factory America” can easily be identified in the years 2019–2022 as there were three large regional supply hubs in GVCs: Germany, China, and the United States. When the years 2020–2022 were compared to 2019, “Factory Asia” with center in China elevated their position in GVCs at the expense of “Factory Europe” with center in Germany and “Factory America with center in the USA.”</p> </abstract>ARTICLEtrue of the success of participatory budgets in Poland<abstract> <title style='display:none'>Abstract</title> <p>The present paper aims to determine what factors affect the success of participatory budgets in Polish cities and what factors affect the size of these budgets. The study covered all 66 cities with powiat rights from 2016 to 2021. A panel data model was used. The first research hypothesis states that the success of participatory budgeting depends on the economic condition of the cities implementing it. The second one states that the success of participatory budgeting depends on the characteristics of the LGUs’ residents. The first hypothesis was confirmed, while the second was partially confirmed. Analyzing four different models with different explanatory variables, it was found that the statistically significant explanatory variables were population, material situation, demographic structure measures, and residents’ economic situation.</p> </abstract>ARTICLEtrue participation in rural areas supported by regional governments in the context of sustainable rural development: The case of Poland<abstract> <title style='display:none'>Abstract</title> <p>The processes involved in the sustainable development goals (SDGs) localization, sustainable rural development (SRD), and the use of public participation to support the achievement of the SDGs have gained importance in recent years. The aim of this article is to analyze the solution created by regional governments in Poland to combine these issues. This paper utilizes a qualitative case study-based approach. Firstly, the analysis of the development strategies of 11 Polish regions was carried out. Further, the analyses of the grant process allowed one to determine the SDG targets, which are associated with individual thematic areas of financing and with specific tasks proposed for implementation by the residents. It may be concluded that the analyzed program targets largely corresponded to the selected SDG targets. Such programs may be used as a tool for supporting the bottom-up diagnosis procedure, in the scope of desired activities supporting the achievement of the SDGs.</p> </abstract>ARTICLEtrue applied by WTO countries in international trade in the context of the COVID-19 pandemic<abstract> <title style='display:none'>Abstract</title> <sec> <title style='display:none'>Objective</title> <p>The present article discusses changes in tariff and non-tariff restrictions applied in World Trade Organization (WTO) countries during the COVID-19 pandemic.</p> </sec> <sec> <title style='display:none'>Methods</title> <p>The employed research tools were a review and analysis of literature along with source statistical data of WTO, UNCTAD, OECD, and ITC.</p> </sec> <sec> <title style='display:none'>Findings</title> <p>During the pandemic, the average level of tariffs in the WTO countries did not change significantly. From 2019 to 2021, the standard level of duties amounted to less than 15% in more than 90% of the member states. In contrast, 2020 saw an unprecedented increase since 1995 in the number of new non-tariff measures introduced without prior notification. As a result, the restrictions applied as a whole covered the most significant part of world trade since 2009 (13.6%). The newly introduced restrictive measures affected trade worth US$68.8 billion in 2020, i.e., over half as much as in 2019 (US$46.2 billion).</p> </sec> <sec> <title style='display:none'>Originality</title> <p>A noneconomic factor (pandemic) caused the WTO countries to introduce restrictions that were permitted but eluded normal procedures. This calls into question the effectiveness of liberalization measures within the WTO.</p> </sec> </abstract>ARTICLEtrue “autumn effect” in the gold market—does it contradict the Adaptive Market Hypothesis?<abstract> <title style='display:none'>Abstract</title> <p>The present study aims to verify the autumn effect in the gold market, first presented 10 years ago by Dirk Baur in the paper “The autumn effect of gold” and to investigate the calendar effects occurring for other precious metals. This empirical research is presented in a way to place the results obtained in the context of the Efficient Market Hypothesis (EMH) and the more current Adaptive Market Hypothesis (AMH). The study was conducted as an extended reproduction of the Baur study. The main conclusion is that, the autumn effect on the gold market has been reversed and replaced by the winter effect, which is linked to the AMH. An equally interesting calendar effect was observed for silver. Platinum and palladium saw an increase in prices in January, but given the patterns in the gold market, it is very likely that this phenomenon will also change over time.</p> </abstract>ARTICLEtrue assessment of regional labor market differentiation<abstract> <title style='display:none'>Abstract</title> <p>The purpose of this article is a comparative analysis of regional and temporal labor market differentiation. In the study, the following voivodeships were taken as comparative objects. In accordance, following the administrative division, the voivodeships were adopted, while the research period was taken as the years 2011–2021. To study the differentiation of the voivodeship labor markets, the classical method of share shifts and the analysis of share shifts were used. The number of employed people and the registered unemployed by gender were chosen as the measures of differentiation on which the study was based. The results of the analyses made it possible to examine changes in the structure and assess the development of regional labor markets over time.</p> </abstract>ARTICLEtrue and strategic perspectives of project evaluation<abstract> <title style='display:none'>Abstract</title> <p>The implementation of public projects by organizations requires professionalization of their evaluation methods. The research objective is to identify the key criteria for project evaluation that go beyond the “project triangle.” The following problem was formulated: whether <italic>ex post</italic> evaluation of the project taking into account parameters of the “design triangle” is not an oversimplification in the context of uniqueness of design solutions that significantly affect civilization and technological development of societies in terms of global. The study was conducted in two stages. In the first stage, 109 completed projects were evaluated using the quantitative method. The quantitative method was used to evaluate the projects. In the second stage, on the basis of the project-evaluation results, the key criteria for <italic>ex post</italic> evaluation of project implementation were analyzed using the Hellwig’s correlation method. It was shown that for the proper <italic>ex post</italic> evaluation of project implementation, it is necessary to supplement criteria with strategic and societal effects.</p> </abstract>ARTICLEtrue common good from an economic perspective: Insights from EU policies during the COVID-19<abstract> <title style='display:none'>Abstract</title> <p>This paper delves into the diverse conceptualizations of the “common good” within the economic discourse and scrutinizes their implications for European integration during the pressing COVID-19 pandemic. Employing a comprehensive literature review, policy analysis, and case study examination, it explores the manifestations of the common good in the context of European Union policies. Two key interpretations emerge from our investigation: the first presents the common good as an ultimate objective, seeking a balance between individual and collective interests achieved via adept economic governance; the second considers it a continuous process underpinned by the principles that direct the journey toward such a balance. Our findings reveal that the EU’s response to the COVID-19 crisis led to shifts in fiscal policies and innovation strategies. The research outcomes demonstrate a marked transition in the EU’s approach, with a stronger focus on social welfare, environmental sustainability, and collective well-being.</p> </abstract>ARTICLEtrue work in Poland: Worker characteristics and prevalence in society<abstract> <title style='display:none'>Abstract</title> <sec> <title style='display:none'>Objective</title> <p>One of the new trends in modern economies is the development of platform-mediated work (PMW), also known as the gig economy. The current article aims to discuss the results of the original survey to determine the number and structure of gig workers among the adult residents of Poland; this discussion is based on the broader context of the existing knowledge on the subject pertaining to society and also focuses on the plans for the future.</p> </sec> <sec> <title style='display:none'>Methods applied</title> <p>This article is based on the systematic literature review and the findings of the survey conducted on a representative nationwide sample of 3,165 Polish residents aged 18–70.</p> </sec> <sec> <title style='display:none'>Findings</title> <p>The survey carried out in July 2021, showed that, in Poland, online or offline PMW was performed by about 16% of the investigated population over the year and by about 8% over the month. Moreover, an increase in the interest in platform work is expected.</p> </sec> <sec> <title style='display:none'>Originality value</title> <p>PMW is a relatively rare phenomenon, which is difficult to measure. The present article proposes a research approach that can be used to establish the prevalence and prospects of PMW in Poland.</p> </sec> </abstract>ARTICLEtrue as an important element of a food retailer’s business model: A managerial view<abstract> <title style='display:none'>Abstract</title> <p>The aim of the study is to explore how geomarketing becomes a key element in managing the business model (BM) of an established retailer on the food market. The survey sample comprised 244 stores, whose managers were questioned by means of a semi-structured interview in 2021. Cluster analysis was used to assess 40 statements from the managers about the BMs of the current store. The resulting clusters indicate, among others, that large retailers devote more and more attention to the analysis of a territory, and their decision-making deepens even more due to the use of a multi-format strategy on the food market. The article contributes to the discussion about the market within geomarketing research in terms of both theory and practice at a time when the population’s income is expected to decrease due to several crises, for example, health-economic and energy, on the food market.</p> </abstract>ARTICLEtrue Shaping the Future of Leasing in Poland. The Role of External Shocks, Regulations, and Emerging Technologies<abstract> <title style='display:none'>Abstract</title> <p>This study aims to identify and evaluate the key trends in the leasing sector in Poland from the perspective of both the present situation and the coming years. The literature review and the conducted In-Depth Interviews among senior executives of leasing businesses in Poland and among representatives of the Polish Leasing Association enabled us to determine the following list of contemporary trends that are relevant to the leasing sector: the circular economy, the sharing economy and product-as-a-service, incidental and shock-related changes, digitalization, automation and robotization, as well as the development of the electric vehicle segment. Furthermore, many of these phenomena fit into the broader concept of so-called sustainable finance. All of the indicated trends were deemed as relevant by the experts. The leasing sector has not yet reached the maximum of its potential for market expansion in Poland.</p> </abstract>ARTICLEtrue of reviewers in 2023 sector cash holding – optimal levels, macro context, or external shocks?<abstract> <title style='display:none'>Abstract</title> <p>The objective of this paper is to validate the existence of an extensively documented secular upward trend in corporate cash holding. To do this, we use the new data for Poland and review original datasets from <xref ref-type="bibr" rid="j_ijme-2023-0018_ref_007">Bates et al. [2009]</xref> for the U.S. We find no trace of a trend for Poland and believe most trends for the U.S. come from the cash piling toward the end of the sample period. At best, the U.S. trend applies merely to small firms. We believe cash holding is a period-dependent time-varying variable which also depends on external shocks (e.g., the pandemic or tax regulations). We show that simple addition of macro data (GDP in our case) vastly improves models focused only on optimal cash holding and firm-specific characteristics. We call for a new three-stage approach to study corporate cash, in which micro considerations are complemented by macro data and external liquidity shock analysis.</p> </abstract>ARTICLEtrue events and their role in portfolio optimization of generations X, Y, and Z<abstract> <title style='display:none'>Abstract</title> <p>We examine how generations X, Y, and Z might react to market-moving events over short- and long-term horizons to maintain an optimal balance among risk, return, and investor preferences. To analyze various portfolio variants, we use data on selected global assets and several types of economic and non-economic events for 2000-2021H1, applying the mean-variance optimization procedure. According to our results, in optimal portfolios, fixed-income assets dominate and are the main driver of portfolio adjustments. Portfolios with short-term horizons with less risk-averse investors and those for generation Z are the most reactive to analyzed types of events. None of the events <italic>per se</italic> creates an extraordinary opportunity to increase returns. However, expansionary monetary policy generates the greatest potential for incremental returns. Our findings provide practical implications for investors on how to adjust their portfolios in response to significant market events.</p> </abstract>ARTICLEtrue Russian invasion of Ukraine and the exchange rate of the Polish zloty: A fallacy of monetary autonomy?<abstract> <title style='display:none'>Abstract</title> <p>We use the Twitter application programming interface to construct a novel indicator capturing the varying perceptions of geopolitical risk related to the war in Ukraine. We show that the Twitter variable is a statistically significant determinant of the EUR/PLN exchange rate following the invasion. We estimate that the war in Ukraine was responsible for an increase in the EUR/PLN exchange rate of about 5.0% in the first 2 weeks following its breakout and that the weakening of PLN contributed to an increase of headline inflation in Poland by about 0.33 percentage points. Our findings suggest that monetary policy autonomy can be substantially constrained due to conflicts in nearby countries. Therefore, they provide an argument for Poland in seeking Eurozone membership as a way to contain the impact of geopolitical factors on exchange rate volatility, which is likely to remain at play in the longer run.</p> </abstract>ARTICLEtrue dark side of social relationships – the context of the video game industry<abstract> <title style='display:none'>Abstract</title> <sec> <title style='display:none'>Paper’s objectives</title> <p>The paper aims to explore the negative impacts of social relationships (SR) on business activity. As a research context, the video game industry (VGI) and the video game developers’ (VGDs) relationships are analyzed.</p> </sec> <sec> <title style='display:none'>Design/methods</title> <p>17 semistructured in-depth interviews and 1 focus group interview with Polish VGDs were conducted.</p> </sec> <sec> <title style='display:none'>Findings</title> <p>(1) support for five negatives of SR previously discussed in the literature (2) recognition of the four original negatives (i.e., employee turnover, buying up employees, inefficiency/termination of interorganizational cooperation, and confidential information leakage); and (3) recognition of the harmful results of SR as an industry-dependent issue.</p> </sec> <sec> <title style='display:none'>Originality/value</title> <p>(1) Analyzing the negative consequences of SR for business, which is less frequently considered compared to the positive consequences of these relationships for business; (2) identifying dark sides previously unidentified in the literature; and (3) using the VGI as the research context.</p> </sec> </abstract>ARTICLEtrue direct employment impact of public investment<abstract> <title style='display:none'>Abstract</title> <p>We evaluate the direct employment effect of the public investment in key infrastructure ‒ electricity, roads, schools and hospitals, and water and sanitation. Using rich firm-level panel data from 41 countries over 19 years, we estimate that US$1 million of public spending on infrastructure creates 3–7 jobs in advanced economies, 10–17 jobs in emerging market economies, and 16–30 jobs in low-income developing countries. As a comparison, US$1 million in public spending on R&amp;D yields 5–11 jobs in R&amp;D in OECD countries. Green investment and investment with a larger R&amp;D component deliver a higher employment effect. Overall, we estimate that 1% of global GDP in public investment can create more than seven million jobs worldwide through its direct employment effects alone.</p> </abstract>ARTICLEtrue