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SPECIAL ISSUE TOPICContemporary challenges, conditions and directions of development of accounting Motivation Research on contemporary challenges, conditions, and directions of development in accounting is motivated by the need to adapt to technological advancements, regulatory changes, globalization, and evolving ethical standards. By addressing these areas, accounting research aims to enhance the accuracy, transparency, and relevance of accounting, ultimately contributing to the overall stability and efficiency of financial markets and organizations.Accounting is undergoing significant transformations due to various contemporary challenges and evolving conditions. Therefore, research in this area is motivated by several key factors:−Technological Advancements: The integration of artificial intelligence (AI), machine learning, and robotic process automation (RPA) is revolutionizing accounting practices. The potential of blockchain technology to provide transparent and immutable records is another area of interest. Under-standing its implications for auditing, fraud prevention, and financial re-porting is crucial.−Regulatory Changes: The continuous updates and convergence efforts in IFRS require ongoing research to understand their impacts on global ac-counting practices. Increasing regulatory requirements for ESG disclosures are pushing researchers to explore how companies can effectively report on sustainability and social responsibility metrics.−Globalization: As businesses operate in a global marketplace, accounting practices must adapt to different legal, economic, and cultural environments. Research is essential to develop frameworks that accommodate these complexities. Understanding the impact of global economic changes on financial reporting and risk management is critical for the accounting profession.−Data Analytics: The vast amounts of data generated by modern businesses offer opportunities for more detailed and insightful analysis. Researchers are motivated to investigate how big data analytics can be integrated into accounting to improve strategic decision-making. Leveraging data to pre-dict future financial trends and outcomes is a growing area of interest, aiming to enhance the proactive capabilities of accounting functions.−Ethical Considerations: Ensuring ethical standards in accounting practices remains a fundamental concern. Research into how emerging technologies and new regulations affect ethical behavior is vital. Developing advanced methods to detect and prevent financial fraud is an ongoing challenge that requires innovative research solutions.−Educational Needs: As the accounting profession evolves, so must the education and training provided to future accountants. Research into effective teaching methods and curriculum content is necessary to prepare graduates for modern challenges. Understanding the best approaches for ongoing education and skill development for current professionals is crucial for maintaining a competent workforce.−Economic and Social Impacts: Research into how contemporary accounting challenges affect SMEs differently than large corporations is important for developing tailored support and resources. Exploring the role of accounting in promoting social good, such as through social impact measurement and reporting, is increasingly relevant.Suggested topics We encourage authors to prepare and submit articles on the focus of contemporary challenges, conditions, and directions of development of accounting. The following thematic areas are of particular interest in the light of the presented challenges:−Integration of Technology – the continued development and implementation of AI, RPA, and blockchain in accounting processes,−Enhanced Reporting Standards – the evolution of accounting standards to include comprehensive ESG and sustainability metrics,−Global Harmonization – efforts to harmonize accounting practices across different jurisdictions to facilitate international business,−Advanced Analytics – incorporating big data and predictive analytics into everyday accounting practices to improve decision-making,−Ethical Frameworks – the development of robust ethical guidelines and training to navigate new technological and regulatory landscapes,−Educational Innovation – updating accounting education and professional development programs to reflect current and future industry needs,−Focus on SMEs – tailored research and development to support the unique challenges faced by SMEs in adopting new accounting practices.The above-mentioned issues are not exhaustive as to the scope and complexity of research into contemporary accounting developments. Rather, they are intended to inspire authors when choosing the topic of their paper.We want to underline that the articles (ca. 32,000-44,000 characters) should pertain to the theme of the special issue of ZTR and should not have been published earlier in hard copy or in electronic version, whether in magazines, journals, books, or conference materials. The deadline for submitting papers is 30th June 2025. The accepted papers will be published in December 2025 (ZTR, vol. 49, no. 4).Each manuscript should be prepared in accordance with the guidance given in the section “Instructions for authors” on our website: https://ztr.skwp.pl/resources/html/cms/DEPOSITSMANUSCRIPTArticles should be submitted through the online ICI Publishers Panel: http://ztr.skwp.pl/resources/html/cms/DEPOSITSMANUSCRIPT https://editors.publisherspanel.com/ppanel/indexWhen submitting an article, please enter that your article is for Special Is-sue 2025 with Guest Editor in the additional comment in the Publishers Panel Index Copernicus system. The coordinators of the Special Issue of ZTR with Guest Editor are Halina Waniak-Michalak and Anna Szychta (ztr@skwp.pl).

Sustainable Development, Accounting and AccountantsContext for the Special IssueAccounting, traditionally considered a tool for optimizing the economic per-formance of entities, has also been perceived as a means for addressing the social and environmental areas of their operations (Unerman et al., 2007; Bebbington et al., 2017; Carnegie et al., 2021) to inform managers seeking to make businesses sustainable (Wenzig et al., 2022; Lambert and Sponem, 2011). Therefore, accountants are regarded, at least potentially, as a crucial element of a company’s contribution to sustainable development (e.g., Tilt, 2009; Albu et al., 2011; Bebbington and Unerman, 2018; 2020; IFAC, 2016; ACCA, 2021). This is not a new notion. In fact, it has been developing over the years as social environmental ac-counting (SEA) and has been evidenced by the involvement of accounting re-searchers, practitioners, and accounting-related organizations in sustainability issues (Chung and Cho, 2018).SEA is defined as the communication of an organization’s social and environmental economic impacts to specific stakeholder groups and the general public. It requires expanding the responsibilities of companies beyond the traditional provision of financial statements to owners of capital, particularly shareholders. This necessity is based on the assumption that companies have responsibilities other than making money for shareholders (Gray et al., 1996, 2017; Carnegie, 2022a, 2022b). As Bebbington et al. (2017) note, the original framing of the SEA literature is concerned with the social and environmental impacts of organiza-tions and accounting (e.g., Gray et al., 1987; Gray et al., 1996). It was recently expanded to explore the interrelationship between sustainability, Sustainable Development Goals, governance, organizing, management, and accounting.SEA has been developing as an area of research in accounting, while the broad understanding of accounting per se has remained unchanged. One of the popular definitions of accounting by the American Accounting Association defines it as “the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of information” (AAA, 1996). Drawing on the extensive accounting literature in the sociological, interpretive and critical tradition since the early 1980s (including Gray et al., 1996), Carnegie et al. (2021) propose to redefine accounting in order to the discipline to reach its full potential for shaping a better world. They proposed the following new multidimensional definition of accounting: “Accounting is a tech-nical, social and moral practice concerned with the sustainable utilization of resources and proper accountability to stakeholders to enable the flourishing of organizations, people and nature” (Carnegie et al., 2021, p. 69). Their proposal poses new challenges for accountants and the organized accounting profession. Principally, accounting information systems and accountants must evolve to respond to sustainability-related concerns by adapting traditional characteristics and developing new, broader concepts and capabilities (Twyford and Abbas, 2023).There are concerns about whether and to what extent the accounting profession may be willing to consider and meet these challenges. As Deegan (2013) argues, the fact that t-accounts, and therefore debits and credits, have been in use since the 1400s, and did not cease to be used after negative numbers were introduced into mathematics, shows that accountants are reluctant to change and inspires little confidence that they are capable of making quick adjustments as environments and technologies transform. This view is support-ed by others (e.g., Wenzig et al., 2022; Krasodomska et al., 2020) who note that accountants express eagerness to learn, though rarely about sustainability. However, this knowledge may prove useful to them in the context of recent changes in the sustainability reporting and assurance landscape, introduced – in the Eu-ropean Union – by the Corporate Sustainability Reporting Directive and – at the global level – by the International Sustainability Standards Board mandated by the Inter-national Financial Reporting Standards Foundation.Guidance for AuthorsAgainst this background, the purpose of this Special Issue is to stimulate the debate on the challenges that contemporary accounting is facing in the con-text of sustainable development. We welcome submissions (ca. 32,000-44,000 characters long) on various aspects related to accounting and sustainability, literature reviews, and conceptual, quantitative, and qualitative studies. Possible topics include but are not limited to:•The contemporary understanding of accounting and the role of the ac-counting profession in relation to the sustainability agenda.•The current state of academic research on accounting and sustainability, sustainability reporting, Sustainable Development Goals reporting and as-surance.•The way existing management accounting systems and practices can sup-port managers in capturing commitment to sustainable development and/or undertaking efforts towards sustainability. •The organizational actors involved in external and internal sustainability reporting and the role of accountants and accounting systems.•The modifications that should be made to accounting education systems to enable them to equip future accountants and managers with the knowledge and skills to meet the challenges of sustainable development and how such modifications should be introduced.•The potential role of digitalization in helping accountants to get more in-volved in sustainability-related topics. The way AI transforms the roles of accountants and assurance providers regarding sustainability reporting and Sustainable Development Goals reporting.•The differences between sustainability-related challenges accountants face in large versus small companies, and whether these challenges are country or industry-specific. •The differences between mandatory versus voluntary sustainability re-porting initiatives in terms of consequences on the reporting quality and organizational responses.•The competencies that accountants or assurance providers need to suc-cessfully collaborate with non-accounting experts in sustainability-related areas. The factors that can facilitate such collaborations. •The way professional accounting organizations support the engagement of the profession in sustainability-related issues in various countries and in-ternationally. The factors that may influence their engagement in this field.•The extent to which accounting (and reporting) systems can address the Sustainable Development Goals and the relationships and interdependencies between them.•The impact of the recent regulatory changes within the European Union related to the forthcoming Corporate Sustainability Reporting Directive and European Sustainability Reporting Standards on the engagement of the accounting profession in sustainability, sustainability reporting, re-porting on Sustainable Development Goals, and assurance of information provided.•The impact of global changes, including the recent consolidation among the main standard setters and the establishment of the International Sustain-ability Standards Board by the International Financial Reporting Standards Foun-dation on how the accounting profession approaches sustainability.The deadline for submitting papers is 30th June 2024.The accepted papers will be published in December 2024 (Zeszyty Teoretyczne Rachunkowości/The Theoretical Journal of Accounting, vol. 48, no. 4).To view the author guidelines for this journal, please visit the following page: http://ztr.skwp.pl/resources/html/cms/FORAUTHORS. Submissions for the Special Issue will be made through ICI Publishers Panel:http://ztr.skwp.pl/resources/html/cms/DEPOSITSMANUSCRIPT When submitting an article, please state that your paper is for Special Issue 2024 with Guest Editors in the additional comment in the Publishers Panel Index Copernicus system. The coordinators of this Special Issue are Anna Szychta and Marek Masztalerz (ztr@skwp.pl).

Current and past economic and financial crises have changed the behaviour of busi-ness leaders, managers, and investors, as well as accounting professionals (financial accountants, bookkeepers, management accountants, auditors). The fear of further financial crises has forced accounting reforms, the revision of auditing standards, and a restructuring of corporate governance systems in many countries to provide a relia-ble framework for companies’ activities and performance. The International Federa-tion of Accountants (IFAC) board founded the International Ethics Standard Board for Accountants (IESBA), which issued the Code of Ethics for Professional Account-ants (IFAC Code) as a set of globally accepted guidelines for ethical conduct. The first version was published in 1990, and it was recommended (but not mandatory) for IFAC members to adopt. Establishing a unified code of ethics was one of the major achievements of IFAC that provided solid guidelines for accounting professionals across the world. Prior research indicates that the IFAC Code has been moderately successful in the attempt to harmonise ethics standards for professional accountants worldwide. As globalisation continues to affect business culture and technology, and, consequently, the focus of business, the accounting profession must keep pace and reassess its role in the world economy, but also in society. This is especially important during economic and financial crises, when the classic entrepreneurial model is not sustainable. Not only can a code of ethics can provide a framework for appropriate employee behaviour and establish a better corporate culture, it can also improve lead-ership, help organisations to comply with government guidelines, and enable organisa-tions to be more socially responsible. Many ethical issues could be explored in the con-text of Corporate Social Responsibility (CSR), not only in times of crisis. The high-profile ethical failures of professional accountants in recent decades taught us the importance of ethics education. A professional accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employing organization. All accountants should act in the public interest by complying with fundamental ethical principles (integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour) since these principles establish the standard of expected behaviour. Therefore, accounting ethics should be promoted much more in education and in practice. Accounting and business educators have a special responsibility to ex-amine and teach ethics in the broader context of globalisation. Regulations and volun-tary standards aim at minimizing fraud and manipulation of business information, but ethical behaviour is the key to achieving an honest business environment and sustaina-ble growth.

Since the end of the 20th century, discussion on the role that accounting plays in the provision of information necessary for decision making in the ever-changing environment has been continuing among practitioners, governmental and non-government organizations, and particularly among the academic community. The debate concerns both the issue of measuring the results of economic activity (relating to the economic, environmental and social spheres) and the scope of disclosures in reporting that would satisfy the stakeholders’ expectations. Currently, achievement of market success is associated not only with the desire to optimize the economic results, but also with the care for the natural environment and the social issues. Accounting, therefore, being the primary source of the information supporting the management processes in an organization, has to face the challenges posed by current economic practice. As E. Burzym (2008, pp. 73–76) states, “by providing a universal and a flexible information and control system, accounting can be used to enforce the socio-economic responsibility of enterprises. It is purposely oriented to the needs of managements that are focused on implementation of economic goals and on accounting for companies’ responsibility (economic, environmental and social) for the results of their activity”. What is more, in the times that are difficult due to the dynamic changes taking place in the environment, accounting is precisely the system that can ensure reliability of the information published in the reports constituting the basis for assessment of enterprise performance. R. Mattessich (1994, pp. 358, 366) stated that “accountability has been the major function of accounting discipline for some ten thousand years, while other functions, like aiding investment decisions, are of more recent origin. And this account-ability function may well endure long after other functions have been taken over by neighbouring areas. And if I am not totally mistaken, it appears that we are entering a phase where accountability gains in importance”. However, the use of accounting to hold companies accountable for the broadly understood responsibility is extremely dif-ficult nowadays. It is connected with the necessity to modify and create new solutions that are imperative to explain the increasingly complex economic processes. In order to get a full picture of the business conducted in a given company – regarding its situ-ation, results and directions for further development – both the financial and the non-financial information is required. Therefore, as S. K. Roy (2008, p. 37) indicates, “in a multilingual world with different ethical and social values, monolingualism does not simply suffice”. This situation necessitates accounting to use other measures, in addi-tion to economic measurement, that would reflect the complex processes taking place in the economy, in order to meet the challenges posed by new reality. By that, it will provide the information desired and necessary for assessment of the broadly understood effectiveness of enterprise activity.

Accounting and financial and non-financial reporting in the digital context Motivation Accounting is a product of an ever-changing environment, and at the same time, it interacts with it. Social, economic, cultural, and technological changes have a significant impact on how accounting is theorized, how research is conducted, how accounting policy is shaped on a macro scale, and how accounting functions in business practice. Half a century ago, accountants never dreamed that part of their work would be automated, nor that tabular numerical combinations, which constituted the main effect of their work, would one day be just one of many elements of extensive financial and non-financial reporting. Times have changed. The economy has gained a global and digital dimension, economic phenomena have become more complex, social and environmental awareness (including sustainability and circular economy issues) has increased, and new technologies have opened up extraordinary opportunities for people in terms of information processing and communication. These changes have had a significant impact on accounting and corporate reporting. In some sense, it matured, moving from recording "real" and "objective" economic transactions and presenting the effects of these events in a synthetic tabular form for recording, measuring, and describing economic as well as non-financial phenomena, the essence of which is often difficult even for professional accountants. The common feature of all these changes is the increasing emphasis on communication in accounting and corporate reporting. Accounting communication may be analyzed in numerous aspects: linguistic, visual, technological, cultural, or sociological. The articles submitted for the special edition will be aimed at discussing these aspects. Suggested topics We invite papers addressing the following research questions of immense interest: 1. How is financial and non-financial information reported by firms, and how is it processed by users? 2. What is the impact of new technologies and digitalization on accounting communication? 3. Does the increasing use of language and narratives in accounting reports improve communication? 4. How do economic, social, and cultural changes shape financial and non-financial reporting? 5. What are the opportunities and threats resulting from the digitalization and automation of accounting? 6. What is the current role of management accounting in creating financial and non-financial reports? 7. How does financial reporting reflect the non-financial aspects of business activity? 8. What should be the role of the professional accountant in contemporary business? 9. Do accounting standards (e.g., IFRS) respond to the challenges of the contemporary economy? 10. What is the future of financial and non-financial reporting? The articles (ca. 32,000-44,000 characters) may present the results of research conducted using different methods, e.g., theoretical approaches or empirical approaches (surveys, case studies, experiments, archival research). We want to underline that the articles should pertain to the theme of the special issue of ZTR and should not have been published earlier in hard copy nor electronic version, whether in magazines, books, or conference materials. The deadline for submitting papers is 30th June 2022. The accepted papers will be published in 2022 (ZTR, vol. 46, no. 4). Each manuscript should be prepared in accordance with the guidance given in the section "Instructions for authors" of our website: http://ztr.skwp.pl/resources/html/cms/FORAUTHORS. Articles should be submitted through the online ICI Publishers Panel: http://ztr.skwp.pl/resources/html/cms/DEPOSITSMANUSCRIPT When submitting an article, please enter that your article is for Special Issue 2022 with Guest Editor in the additional comment in the Publishers Panel Index Copernicus system. The coordinator of the Special Issue of ZTR with Guest Editor is Dr hab. Marek Masztalerz, prof. UEP (ztr@skwp.pl)

Purpose: As a conceptual paper, this article presents the idea of crowdfunding activities, crowdfunding being not only a modern tool of fundraising but also an interesting form of establishing relationships with stakeholders. The primary aim of the article is to show the role of crowdfunding in the process of creating relationships with customers. Design/methodology/approach: The article has been divided into two parts. The first part focuses on the definition of crowdfunding as a form of raising funds and provides examples of selected campaigns. The second part presents the process of establishing relationships during crowdfunding campaigns. The author applied a qualitative approach to meet the research objectives. Moreover, the concept formulation was done through a systematic literature review. Findings: The emotional involvement of consumers in a crowdfunding campaign constitutes a significant element in relation building and may be developed at any stage of the conducted campaign. Specific characteristics support building relations with consumers (openness, involvement, curiosity, willingness to share information, emotional connection, spontaneity, familiarity with other consumers). A major argument is the fact that during such campaigns relations are built on trust, openness and involvement. Research limitations/implications: The model was completely built based on the literature. Thus, as a further step of this research the author strongly suggests conducting research with a quantitative approach. Furthermore, the author stresses that the presented concept requires empirical verification and such research is planned in the future. Originality/value: This article analyzes crowdfunding activity in view of building relationships with customers. Thus, the author of the article shares the new knowledge and suggests the process of building relationships with customers by critically illustrating the created conceptual model.

Ken Shackleton wrote in 1976: „Behavioral scientists have criticized the accountant for a number of years. It is likely that their criticisms will continue for a further ex- tended period due to the profession's lack of urgent response.” More than 40 years have passed since the statement cited above, so we are now allowed to ask whether something has changed in this regard, and if so, what it is, and if not, why this is so. Taking into consideration the studies conducted in the field of accounting, we rec- ognize that researchers use a variety of branches of social science. Psychology seems to be very important in accounting research because it presents different behavioral aspects of the individuals and entities that influence the resulting financial and nonfinancial volumes. These behaviors can be analyzed from both intra-organizational as well inter-organizational perspectives. In this regard, other disciplines, such as eco- nomics, sociology and organization theory are implemented to contribute to the re- search performed in the behavioural accounting literature. And it has been this way since 1966, the year when this research stream was started (Caplan, 1966). Dunk (2001) said, „for as long as organizations comprise people, their behaviors will influence organizational functioning.” However, the impact of behaviors on an organization and its business environment can have different intensities and effects, i.e. positive and negative. This affects the variety of topics discussed in behavioral accounting research and they are presented in scientific publications worldwide. The importance of behavioral paradigms in accounting among researchers and the increasing trend in this issue in scientific publications were confirmed by e.g. Dyck- man (1998) or Dunk (2001). Accounting scientists indicate that behavioral paradigms help to understand accounting phenomena in a broad sense, e.g. financial accounting or management accounting. However, some researchers also criticise accounting studies based on the behavioral approach, for example Zimmerman (2001). Suggested topics To confirm or reject the statement presented by K. Shackleton, the following ques-tions referring to financial and management accounting should be covered by the papers you submit to the special volume of our journal: • What kind of scientific approaches or frameworks (behavioral science) have been used in accounting research? • Do theories or frameworks of behavioral science help to understand accounting and do they have an impact on its improvement in business organizations? • Has a new understanding of „meaningful issues” occurred? • Has the practical work of accountants/management accountants changed? • Has accounting research changed somehow in regards to the behavioral ap-proach? • Have behavioral accounting studies been conducted which take into account the dynamic business environment of organizations? The articles (ca. 40,000 characters) may present the results of research conducted using different methods: theoretical approaches, empirical approaches (surveys, case studies). We want to underline that the articles should pertain to the theme of the special issue of ZTR and should not have been published earlier in hard copy nor electronic version, whether in magazines, books or conference materials. The deadline for submitting papers is 1st March 2019. Each article should be prepared in accordance with the guidance given in the sec-tion „Instructions for authors” of our website: http://ztr.skwp.pl/resources/html/cms/ FORAUTHORS. Articles should be submitted through the online ICI Publishers Panel: http://ztr.skwp.pl/resources/html/cms/DEPOSITSMANUSCRIPT By submitting an article, please enter in the additional comment in the Publishers Panel Index Copernicus system that your article is for Special Issue with Guest Editor.

Since the end of the 20th century, discussion on the role that accounting plays in the provision of information necessary for decision making in the ever-changing environment has been continuing among practitioners, governmental and non-government organizations, and particularly among the academic community. The debate concerns both the issue of measuring the results of economic activity (relating to the economic, environmental and social spheres) and the scope of disclosures in reporting that would satisfy the stakeholders’ expectations. Currently, achievement of market success is associated not only with the desire to optimize the economic results, but also with the care for the natural environment and the social issues. Accounting, therefore, being the primary source of the information supporting the management processes in an organization, has to face the challenges posed by current economic practice. As E. Burzym (2008, pp. 73–76) states, “by providing a universal and a flexible information and control system, accounting can be used to enforce the socio-economic responsibility of enterprises. It is purposely oriented to the needs of managements that are focused on implementation of economic goals and on accounting for companies’ responsibility (economic, environmental and social) for the results of their activity”. What is more, in the times that are difficult due to the dynamic changes taking place in the environment, accounting is precisely the system that can ensure reliability of the information published in the reports constituting the basis for assessment of enterprise performance. R. Mattessich (1994, pp. 358, 366) stated that “accountability has been the major function of accounting discipline for some ten thousand years, while other functions, like aiding investment decisions, are of more recent origin. And this account-ability function may well endure long after other functions have been taken over by neighbouring areas. And if I am not totally mistaken, it appears that we are entering a phase where accountability gains in importance”. However, the use of accounting to hold companies accountable for the broadly understood responsibility is extremely dif-ficult nowadays. It is connected with the necessity to modify and create new solutions that are imperative to explain the increasingly complex economic processes. In order to get a full picture of the business conducted in a given company – regarding its situ-ation, results and directions for further development – both the financial and the non-financial information is required. Therefore, as S. K. Roy (2008, p. 37) indicates, “in a multilingual world with different ethical and social values, monolingualism does not simply suffice”. This situation necessitates accounting to use other measures, in addi-tion to economic measurement, that would reflect the complex processes taking place in the economy, in order to meet the challenges posed by new reality. By that, it will provide the information desired and necessary for assessment of the broadly understood effectiveness of enterprise activity.

The purpose of this study is to confront certain propositions presented in Lesław Niemczyk’s publication Rachunkowość finansowa aktywów kompetencyjnych i kapitału intelektualnego. Nowy dział rachunkowości(Accounting for Competence Assets and Intellectual Capital. A New Area in Accounting) with ideas published in other studies. The authors discuss issues concerning firm value, selected definitions of intellectual capital, as well as certain methods of intellectual capital measurement and valuation. Other problems analysed include accounting for and reporting of intellectual capital and similarities and differences between the way those issues are presented in Polish and in international studies as well as in existing legal regulations and standards.

The content of the White Papers indicates that large targets arising from the concept of balanced development are set for the EU’s transport policy. It demands a broader view and influence on expanding the range of related activities which create a logistic support system for socio-economic life. The scope of problems associated with this process exceeds the current range of transport policy. Therefore, terms “mobility” and “policy of mobility” are more often used in EU documents as equivalent to “transport” and “policy of transport”, but better reflecting the character of the problems.

Current and past economic and financial crises have changed the behaviour of busi-ness leaders, managers, and investors, as well as accounting professionals (financial accountants, bookkeepers, management accountants, auditors). The fear of further financial crises has forced accounting reforms, the revision of auditing standards, and a restructuring of corporate governance systems in many countries to provide a relia-ble framework for companies’ activities and performance. The International Federa-tion of Accountants (IFAC) board founded the International Ethics Standard Board for Accountants (IESBA), which issued the Code of Ethics for Professional Account-ants (IFAC Code) as a set of globally accepted guidelines for ethical conduct. The first version was published in 1990, and it was recommended (but not mandatory) for IFAC members to adopt. Establishing a unified code of ethics was one of the major achievements of IFAC that provided solid guidelines for accounting professionals across the world. Prior research indicates that the IFAC Code has been moderately successful in the attempt to harmonise ethics standards for professional accountants worldwide. As globalisation continues to affect business culture and technology, and, consequently, the focus of business, the accounting profession must keep pace and reassess its role in the world economy, but also in society. This is especially important during economic and financial crises, when the classic entrepreneurial model is not sustainable. Not only can a code of ethics can provide a framework for appropriate employee behaviour and establish a better corporate culture, it can also improve lead-ership, help organisations to comply with government guidelines, and enable organisa-tions to be more socially responsible. Many ethical issues could be explored in the con-text of Corporate Social Responsibility (CSR), not only in times of crisis. The high-profile ethical failures of professional accountants in recent decades taught us the importance of ethics education. A professional accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employing organization. All accountants should act in the public interest by complying with fundamental ethical principles (integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour) since these principles establish the standard of expected behaviour. Therefore, accounting ethics should be promoted much more in education and in practice. Accounting and business educators have a special responsibility to ex-amine and teach ethics in the broader context of globalisation. Regulations and volun-tary standards aim at minimizing fraud and manipulation of business information, but ethical behaviour is the key to achieving an honest business environment and sustaina-ble growth. The articles submitted for the special edition will be aimed at clarifying knowledge about ethics from the perspective of the accounting profession. Suggested topics Taking the above into consideration, it is of great importance to obtain answers to the following questions: 1. What are the cross-cultural influences of accounting-related ethical dilemmas? 2. How can accounting ethics affect capital markets? 3. What are the practical barriers for accountants that make ethical behaviour in times of crisis more difficult? 4. What affects the adoption and implementation of the IFAC Code? 5. What is the role of auditors in promoting a higher level of ethical behaviour? 6. Why is accounting education so important in the development of ethics awareness in business and accounting practice? 7. What are the approaches in accounting ethics education? 8. What can be done to improve the quality of accounting ethics education? 9. What measures should be used to enhance accounting ethics? 10. How do accountants deal with the situations and circumstances that might create threats to their compliance with the fundamental principles and can their behaviour be compromised? 11. Which are the safeguards that accountants apply as a way of addressing the threats? 12. What is the role of the codes of ethics for management accountants developed by IMA and CIMA in resolving ethical dilemmas in the area of management accounting? Articles (ca. 40,000 characters) may present the results of research conducted using different methods, e.g., theoretical approaches or empirical approaches (surveys, case studies). We want to underline that the articles should pertain to the theme of the special issue of ZTR and should not have been published earlier in hard copy nor electronic version, whether in magazines, books, or conference materials. The deadline for submitting papers is 31st March 2021. The deadline for the publication of ZTR is 31st October 2021. Each manuscript should be prepared in accordance with the guidance given in the sec-tion “Instructions for authors” of our website: http://ztr.skwp.pl/resources/html/cms/FORAUTHORS. Articles should be submitted through the online ICI Publishers Panel: http://ztr.skwp.pl/resources/html/cms/DEPOSITSMANUSCRIPT When submitting an article, please enter that your article is for Special Issue 2021 with Guest Editor in the additional comment in the Publishers Panel Index Copernicus system. Coordinator of the Special Issue of ZTR with Guest Editor: dr hab. Halina Waniak- -Michalak (ztr@skwp.pl)

Purpose: This paper examines whether the R&D tax allowance in force in Poland since 2016 has increased the voluntary disclosure of information on innovation, R&D, and strategic plans in the management commentary of companies listed on the Warsaw Stock Exchange (WSE). Methodology/approach: First, the Tobit model was used to examine the determinants of recognising development works in a sample of 29,288 observations from 3,406 firms. Second, it uses logit and generalised least squares (GLS) methods to analyse 556 management commentaries from 97 public companies that benefited from the R&D tax allowance between 2016 and 2021. Findings: We show that tax relief increases the probability of recognising develop-ment work and disclosing information about patents to signal innovativeness and engagement in R&D. Indebted companies disclose more R&D information and strategic plans. IFRS and advanced management increase disclosures, as opposed to tax planning that uses tax havens or that is supported by more advisors. Companies audited by the Big 4 provide fewer details on R&D outcomes and strategic plans. Research limitations/implications: Extending the sample requires collecting disclosure data based on the wording in management commentaries using text-mining tools. Originality/value: The paper contributes to the literature by identifying that R&D tax allowance influences voluntary R&D information disclosure in management commentaries, especially by smaller companies in debt with larger intangible assets.

Purpose: The paper analyses the challenges and potential benefits that stem from the relationship between an auditing firm and the companies engaged in mandatory sustainability reporting from the companyʼs point of view. Methodology/approach: Semi-structured interviews were conducted with a sample of Polish companies that engage in mandatory non-financial disclosure. Findings: The evidence collected through the interviews suggests that cooperation with an auditing company that goes beyond the minimum normative requirements brings benefits to the reporting company while also improving the non-financial reporting process, as well as the companyʼs awareness. This is particularly true for companies that started their non-financial reporting experience when it was not mandatory, as they were able to gradually adopt and grasp the related potential benefits. Research limitations/implications: A significant limitation is that the research was conducted on a small sample. To draw broader conclusions, the sample should be expanded to include additional companies. Originality/value: The paper provides empirical evidence on the relationship and cooperation between companies and auditors in the field of non-financial reporting, focusing on the conditions that enable the potential benefits of this relationship to materialize. Such relationships can be essential drivers that foster a sustainability culture within companies.

Dear Authors and Readers, vol. 47, number 4 of “Zeszyty Teoretyczne Rachunkowości” (ZTR, “The Theoretical Journal of Accounting”) includes articles in English submitted for the special edition of ZTR for 2023 and two papers for the “International cooperation” section. With great pleasure, we introduce the special issue of ZTR, vol. 47, no. 4. This marks the first issue in the journal’s history dedicated to research methods. The impetus behind this initiative stems from profound changes currently unfolding in the realms of accounting thought and practice. In response to the editorial invi- tation themed “Research methods for contemporary accounting developments”, a diverse array of papers has been submitted, reflecting current perspectives on accounting and transforming standards of academic research. Nine papers have been selected for publication in the special issue, illustrating a variety of methodological challenges in the research landscape of modern accounting. Changing the perception of the role and scope of accounting. In the first paper, Garry D. Carnegie presents a synthesis of a new approach to accounting that is suitable for contemporary trends of thought on economic rationality. In reference to previous theoretical considerations, he justifies the need to redefine accounting and perceive it as “a multidimensional technical, social, and moral practice to enable the flourishing of organisations, people, and nature to better the world”. According to the author, the strong influence in all these dimensions creates a significant potential for accounting that has not yet been fully exploited. The multi-paradigm nature of contemporary accounting research. In the second paper, Nelli Artienwicz uses the example of true and fair value (TFV) to present the three dominant paradigms of accounting research: positivism, interpretivism, and criticism. Presenting the current TFV research, she argues that paradigms open up various layers of meaning in different contexts and perspectives. She concludes that multi-paradigmity theoretically enriches accounting research. Operationalising new areas and aspects of accounting practices. The third pa- per is devoted to the topic of measuring the scale of impression management in organisational disclosures. Katarzyna Czajkowska proposed a comprehensive method for examining impression management in narrative reporting. She pointed out the possibilities of using it to assess and measure impression management in quantitative research. The proposed measurement model has been applied in empirical research to identify impression management strategies used in letters to shareholders. New types of empirical material in accounting research. The fourth paper has been developed by the research team of Dorota Dobija, Giuseppe Grossi, and Zuzanna Staniszewska. Noticing the increasing importance of visualisation as a form of communication, they discuss the use of this type of empirical material in scientific research. They pay particular attention to the methodological approaches used in research on visualisations, illustrating considerations with three examples of the use of photography in accounting research. The interdisciplinarity of accounting research methods. The next two papers illustrate the methodological links between accounting and other research areas. Marek Gruszczyński discusses the use of “causal microeconometrics”. Meanwhile, Przemysław Kabalski and Marta Nowak show the potential of using psychometric tests as a behavioural accounting research technique. In both papers, the authors emphasise the validity of using research methods and techniques that are popular in other scientific disciplines in accounting research. Applications of qualitative methods in accounting research. In the seventh paper, Dominika Korzeniowska, Nelli Artienwicz, and Elżbieta Jaworska discuss the potential, usefulness, and challenges of using qualitative interviews in accounting research. The considerations have been developed based on the literature on qualita- tive research and the authors’ experience in conducting individual and group qualitative interviews with accountants. Applications of quantitative methods in accounting research. The topic of the next article concerns the use of structural equation modelling (SEM) in accounting research. Alina Kozarkiewicz presents the principles of this quantitative research method and typical areas where it can be applied. Based on a systematic review of the literature, she characterises the existing SEM empirical research in the area of accounting. She also highlights the potential for modelling automation and the po- tential for use in subsequent quantitative research on accounting practices. The digital transformation of accounting research. The final paper accepted for this special issue is authored by Monika Łada, Jim Halsam, and Bilal. The topic is related to the application of literature reviews in accounting research. Endeavours to systematise literature reviews, the digitalisation of scientific publications, and examples of artificial intelligence applications to perform reviews are interpreted as manifestations of the progressive, intelligent automation of accounting research. We would like to thank all the authors for their dedication to contributing to this special issue of ZTR. We hope that the insightful papers presented here will resonate with a wide audience, strengthening the perception of accounting as a vital component of socio-economic life, shaping the well-being of individuals and their surroundings. For accounting researchers, we would like to provide a source for reflection, the development of research competencies, and inspiration for future theoretical and empirical investigations. Thoughtfully chosen modern research methods impact the quality and credibility of studies, which in turn influences the significance and future directions of accounting development. In the section International cooperation, we have included two articles. The paper entitled Relationships between tax communication, education and tax administration in Hungary between 2018 and 2022 deals with some aspects of tax administration in Hungary. Rita Anna Ambrus and Katalin Borbély show how Information and Communications Technology (ICT) is used in tax administration in Hungary. Based on a comparison, the digital development of Hungary is similar to that of the European Union average. However, there are some impediments, such as the complexity of tax regulations and the numerous communication channels that exist. The British–Polish author team of Brian Jones, Albana Rasha, Joanna Dyczkow- ska and Tomasz Dyczkowski prepared an article entitled Sustainable performance management in the EU SME sector. A review and analysis of concepts and methods of strategic management accounting. Its main objective is to structure the knowledge of the existing regulatory frameworks, projects, and actions that support sustainable performance management (SPM) in small and medium-sized enterprises (SMEs) against the backdrop of the growing significance of the circular economy. The paper also evidences how strategic management accounting (SMA) assists this process, what individual metrics, dashboards, or scorecard concepts have been proposed, and how their use may be assessed. The article presents the evolution from traditional business models (TBMs) through the SBMs to innovative CBMs, addressing their distinctive features. The authors contribute to the existing knowledge about SMA in SMEs by analyzing its links with SPM. The Editorial Team would like to take this opportunity to thank the reviewers for all the anonymous reviews and insightful opinions completed in 2023. The list of Polish and foreign reviewers is included in this issue of ZTR. We would also like to thank all the authors of articles published in the four issues of ZTR in 2023 for their cooperation with the Editorial Team. We encourage readers to visit ZTR’s website at www.ztr.skwp.pl, where you can find the latest information on our projects, as well as all the procedures to submit a paper to the journal. Please submit articles to the new special issue of ZTR in 2024, entitled Sustainable Development, Accounting and Accountants (for more, see: https://ztr.skwp.pl/api/myfiles/view/2178710), and to other issues of this journal. On behalf of the entire ZTR Editorial Team, we wish all authors, reviewers, members of the Editorial Board, and readers of ZTR a lot of health and happiness, numerous professional successes, and the implementation of all plans, including scientific ones, in 2024. Yours faithfully Monika Łada Jim Haslam Marek Masztalerz Anna Szychta

Purpose: The paper’s main objective is to structure the knowledge of the existing regulatory frameworks, projects and actions that support sustainable performance management (SPM) in small and medium-sized enterprises (SMEs) against the backdrop of the growing significance of the circular economy. The paper will also evidence how strategic management accounting (SMA) assists this process, what individual metrics, dashboards or scorecard concepts have been proposed and how their use may be assessed. Methodology/approach: The research methods include (1) a descriptive systematic analysis of the policies established by the policymakers and regulators in the EU, (2) a comparative analysis of various organisations’ initiatives, actions, delivered toolkits and their outputs, and (3) a literature review of the essential works and research studies on sustainable business models (SBMs), circular business models (CBMs) and SPM in the context of SMEs. Findings: The policies established in the EU support SPM by encouraging SMEs to be involved in sustainable business practices and indicating how to embark on a green transition. Recently, multiple initiatives have been aimed at indicating the opportunities the closed-loop economy system offers SMEs. Many toolkits have also been developed to help SMEs measure their sustainable performance. Although this measurement is vital for SMEs, the business practice falls behind the regulatory framework. Therefore, internal initiatives from the SME sector are needed to popularise the sustainability concept. Research limitations/implications: SMEs show lower levels of compliance with environmental requirements and are unaware of how their activities affect the environment. A limitation of the research is that, in many cases, SMEs are not ready to respond properly to the ESG requirements imposed by regulators. The reason may be a lack of knowledge, experience and limited funds. Therefore, future research should focus on recognizing the gaps in this area and identifying what may be impeding the development of sustainability performance management in SMEs. Originality/value: The work presents the evolution path from the traditional business models (TBMs) through the SBMs to innovative CBMs and addresses their distinctive features. It contributes to the existing knowledge about SMA in SMEs by analysing its links with SPM.

Purpose: The paper aims to highlight the trends in accounting research that used a literature review as their core research approach. The paper also provides an in-depth review of recent systemised reviews to analyse this trend. Methodology/approach: We analyse recent trends in systemised literature reviews in accounting along with coverage of related methodological considerations in research handbooks. Findings: The tendency to automate literature research is demonstrated. Initiatives to systematise the literature review were consistent with the standardisation of the research procedure necessary to develop specialised software. Identified examples of the application of big data analytics and artificial intelligence methods in the synthesis of various areas of accounting research signal the beginnings of the intelligent automation of literature research. Research limitations/implications: The intelligent automation of accounting research is a dynamic phenomenon that requires further, more in-depth analysis. Originality/value: The paper contributes to the very important and current topic of the digital transformation of accounting research.

The aim: The aim of this paper is to integrate different perspectives regarding the true and fair view (TFV) using the accounting paradigms proposed by Chua (1986). It also explores the research possibilities associated with the concept of TFV under these three research paradigms in the judgment and decision-making context. Methodology/approach: This paper is conceptual, building upon Chua’s (1986) framework. It integrates and advances the existing theoretical comprehension of TFV, also unraveling the components of the concept. Findings: This paper shows that there are layers of meaning involved in the TFV concept, encompassing various context-dependent and perspective-driven aspects. No single accounting paradigm is able to show the complexity of TFV, all the more so its role in judgment and decision-making (JDM) in accounting. Originality/value: Incorporating multiple perspectives aims to offer a more holistic and nuanced understanding of the concept, moving beyond traditionally separated or contrary, unconsciously intermingled approaches. This study bridges research traditions on TFV and also theoretically enriches behavioral accounting via the JDM perspective of TFV.

Purpose: This paper reviews accounting research that employed causal inference methodology, with a focus on methods associated with causal microeconometrics (quasi-experimental). The reviewed papers were published in five leading accounting journals from 2017 through 2021. Methodology/approach: The research approach is a literature review of studies that apply the methodology of causal microeconometrics to accounting. The main section of the paper describes five methods: the treatment effects approach, propensity score matching, natural experiment, difference-in-differences estimators, and regression discontinuity design. The assumptions and limitations of each method are discussed, and selected examples of causal inference published in five leading accounting journals are provided. Findings: The study confirms the increasing frequency of the use of causal inference methodologies in accounting research. Sometimes referred to as quasi-experimental or causal microeconometric, these methods can provide a base for finding evidence of causality. However, there are limitations associated with each method. Practical implications: Statistical-econometric methodology in accounting research based on regression is rarely able to demonstrate causal relationships. This paper presents the pros and cons of applying causal inference methodologies in accounting. Originality/value: The paper’s value lies in: (1) introducing to the research community the growing presence of quasi-experimental causal methodologies in accounting, (2) presenting causal research in accounting using causal microeconometric methods, (3) identifying papers using these methods that were published in five leading accounting journals between 2017 and 2021, and (4) highlighting the challenges and the need for caution and due consideration in applying these methods.

Purpose: The aim of this paper is to explore the potential and usefulness of qualitative research in studying accountants’ behaviors, specifically utilizing individual semistructured interviews and focus group interviews. The paper also indicates challenges to overcome when conducting research using those research techniques. Methodology/approach: The article is based on an analysis of the literature on qualitative research in behavioral accounting, but also on the authors’ experiences of conducting qualitative interviews with members of this professional group. Findings: The advantages of qualitative interviews are pointed out, including an opportunity to observe respondents’ reactions and obtain information related to their attitudes, motivations and needs. Potential challenges were identified relating to interviewing accountants, including those that arise from the researcher’s skills or participant selection process. The proposed areas where interviews could be particularly useful include professional judgments of accountants, their ethical dilemmas, the application of new technologies, or the impact of accounting systems on organizations. Practical implications: The paper encourages researchers to explore accounting behaviors through qualitative interviews (direct implications), especially in the areas mentioned. It inspires them to seek other research topics using these techniques, which, in the long run, may help improve accountants’ qualifications and shape the identity of this professional group (further implications).

Purpose: The main aim of this paper is to present and discuss the application of Structural Equation Modelling (SEM) in accounting research. Following an overview of the terminology, statistical concepts, and software used in SEM, the results of a systematic review of the accounting literature are presented, with a focus on the benefits and challenges identified in prior studies. Methodology/approach: This paper is based on a traditional literature review, which helps to demonstrate SEM as a research technique. It is also based on a systematic literature review, which is used to present previous applications of SEM in accounting studies. Findings: SEM offers the possibility to model statistically complex theoretical issues using specialised software. It is a flexible and universal approach used by quantitative accounting scholars to test and develop theories. SEM research is heterogeneous and encompasses different research strategies, theories tested, branches of accounting, data collection methods, and types of statistical analyses. Research limitations/implications: The main limitation of this study is that the complexity of SEM statistical analyses cannot be discussed in detail within the scope of this paper. Originality/value: SEM is gaining popularity among accounting scholars; however, it is not widely used by Polish researchers. Therefore, this paper is a kind of invitation to quantitative scholars to examine SEM and its potential. It is also a contribution to the current discussions on the automation of research processes.

Purpose: When the “linguistic turn” is replaced by the “visual turn”, there is a natural need for social scientists to embrace the new reality and incorporate visuals in their research. As a result, the importance of visual research, which centers on the use of visual sources, is growing. This paper provides an overview of how visual materials and related methodological approaches can be used in qualitative management and accounting research. Methodology/approach: We begin by reviewing the literature on the research methods, drawing from many disciplines such as sociology, organizational learning, management, and accounting. Next, we analyze three cases – already published papers in accounting – to illustrate how photography can be used in qualitative accounting research. Findings: There is a growing literature on visual research methods. Researchers have used visual materials as primary and secondary data and multiple methodological approaches. Visual methods can also be used in accounting research. Originality/value: This paper provides an overview of emerging methodological approaches that use visual materials and discusses how they can be incorporated into qualitative accounting research. Research limitations: Drawing a simple line between the various approaches presented in this paper is difficult as researchers can use visual material in unique ways throughout the research process. Therefore, the presented methodological categorizations can only help to better understand emerging visual research.

This paper examines the moral factors that motivate altruistic behavior on the part of Polish students toward Ukrainian war refugees within the context of economic theories on altruism. An online survey is used to itemise the students’ altruistic activities, explore what they see as their moral obligations, and elicit their views on supporting refugees. The data are analyzed in relation to Jonathan Haidt’s five moral foundations using correlation analysis and logistic models. The findings suggest that Haidt’s care/harm foundation significantly influences altruistic conduct towards refugees. The fairness/reciprocity foundation is negatively correlated with supporting refugees when such support is perceived as unfair. Expanding the circle of moral obligations (referred to as loyalty circles) is shown to have a positive and mostly significant effect on altruistic behavior. Moreover, the study shows that some Polish students acted contrary to their stated social preferences by supporting Ukrainian refugees despite believing that it is unfair. The paper concludes that these findings challenge the mainstream economic theories on altruism.

This paper sets out to prove that the concept of capitalism, perceived as a natural economic system, remains a useful heuristic fiction despite the harsh criticism levelled at it over the past half-century. Capitalism is initially depicted from the neoclassical perspective of methodological monism. The next section outlines a methodological position known as the Variety of Capitalism Approach (Hall and Soskice). The author understands this to be something of an extension of the concept of a natural economic system. The North, Wallis and Weingast hypothesis, which highlights the significance of a system of violence in the evolution of capitalism, is cited. The paper is essentially the author’s reconstruction and extension of that hypothesis from the standpoint of new institutional economics. This is the perspective from which the impact of the quality of the sphere of institutional governance (North) on the scope and composition of the distributive and growth-supporting functions of the modern state are examined. The final section emphasizes that the quality of institutions is decisive in determining the direction of evolution of capitalism.

Potential investment risks need to be understood by an investor organisation, which implies that a host country’s environment plays a significant role in attracting foreign investment. This paper’s purpose was to propose a foreign investment risk conceptual framework to serve as a basis for evaluating the Southern African Development Community (SADC) Member States’ investment risk/attractiveness. Firstly, the most appropriate foreign investment risk indicators from the literature were identified to develop a foreign investment risk framework. Ten recent peer‑reviewed studies were used to identify the factors which drive investment risk in emerging markets. We developed a conceptual framework including 16 investment risk indicators grouped into four sections: (i) the business environment, (ii) related taxes on business operations, (iii) the economic environment, and (iv) the human and social environments. Secondly, a comparative analysis of the 16 SADC countries was performed, enabling the ranking of the countries in quadrants of investment risk/attractiveness. Data were downloaded from theGlobalEconomy.com (2022) website for six years, from 2015 to 2020. The literature suggests many investment risk indicators which are grouped differently by researchers to form a conceptual framework to evaluate investment risk. This study’s contribution is that the most popular/prevalent risk indicators were identified to develop the new proposed framework. Furthermore, evaluating the SADC region may also serve as an example of investment risk/attractiveness assessment of emerging markets or least‑developed countries. The practical implication of this paper is that the proposed framework enables transferability since potential investors may connect the fundamentals of this study with their own investigation.

Purpose: This paper analyses the relationship between information asymmetry and the cash hoarded by companies listed on the Warsaw Stock Exchange (WSE). Methodology/approach: We applied the Ordinary Least Squares approach to cross-sectional data of the 212 most liquid public companies for which data on bid-ask spread was available.Findings: We show that companies with greater information asymmetry hold more cash, confirming the investment opportunities hypothesis. The average bid-ask spread negatively impacts cash reserves, no matter the character of discretionary accruals. Net working capital and cash flow to non-cash asset ratios positively affect cash holdings, in contrast to the debt ratio. The results show that the costs of monitoring managers are lower than information asymmetry costs in Poland and suggest that holding more cash is more beneficial than going into debt. The default risk or the threat of borrowing costs rising in turbulent times is worse than a loss due to keeping cash. Research limitations/implications: Research limitations concern cross-sectional data only for one year – 2017.Originality/value: Our paper is the first study of the relationship between information asymmetry and cash holdings for the transition economy. The novelty of our research is also the use of a different approach to measure information asymmetry in the Polish capital market.

Background and objectives: Since 1991, several state-owned enterprises in distinct categories were transferred to the private sector under the privatisation policy in Ethiopia. The process and its modalities vary. The notion behind the implementation was to transfer those inefficient public-owned firms to the private sector with an expectation of improving defects. But, privatisation processes are neither a one-time incidence nor an immediate action. Privatisation processes are inter-linked with various macro and microeconomic and sometimes socio-political policies, and reforms. In this paper, privatisation modalities, inconsistencies, and arguments regarding the Ethiopian privatisation process are analysed. Study Design / Material and Methods: Using a systematic literature review process, 50 papers were found and extracted in a methodical manner from PubMed, Ecobiz, and Google Scholar Databases. The analysis was undertaken following systematic categories after taking heterogeneity articles on Ethiopia’s privatisation process into consideration. Results: The government encompasses large public-owned enterprises in the privatisation process; however, the privatisation modalities and timing are still a point of controversy among scholars. The effective privatisation process required institutional development, and the government’s promises were put to the test. The performance of enterprises was significantly impacted by legal and policy frameworks. The legal framework and consistently unstable nature of Ethiopia’s privatisation history have been observed. It has been observed that the legal framework and consistently unstable nature of Ethiopia’s privatisation history. Practical implications: This study has a practical contribution and input by giving insights for researchers, practitioners and policy makers for providing alternative privatisation modalities, appropriate for the Ethiopian context. Conclusion and Summary: The mode of privatisation must be pre-examined and carefully selected by considering important success factors including public interest, objectives of endeavour, and the sustainability of firms. The techniques must consider the nature and characteristics of the firms studied, clarity and well-prepared privatisation options.

This paper examines the phenomenon of child and youth labour in the post-Stalin era in the Soviet Union. The starting point for the consideration constitutes the analysis of the law adopted by the Supreme Soviet of the USSR in 1958 titled “On the strengthening of the link between school and life and the further development of people’s education in the USSR”. This law placed great emphasis on combining education with practice and involving pupils from the earliest grades in various forms of both productive and socially useful labour. Subsequently, four categories of labour to which children and young people in the USSR were systemically forced has been distinguished. These included: occasional labours, work and leisure camps, so-called subbotniki and little communal works, as well as compulsory recycling. The paper thoroughly depicts all of them in the light of memoir material.

Purpose: The aim of the study is to evaluate the level of tax knowledge and analyze the perception of taxes by students at the University of Szczecin. To achieve the goal, the sources of this knowledge and the respondents approach to tax avoidance are investigated. It also presents the differences in the perception of taxes between male and female students. Research method/approach: The research was conducted in the form of interviews using a paper questionnaire Paper & Pen Personal Interview (PAPI) on a sample of 927 students at the University of Szczecin between April and June 2020. The results were analyzed using descriptive statistics and are presented as tables and figures. To the best of the authors knowledge, research in this area is still very limited, which was confirmed by a system-atic literature review conducted from April to December 2021. Findings: The research results made it possible to achieve the goal and answer the questions posed in the introduction. The students were mostly characterized by an average or low level of knowledge about taxes. One in three respondents indicated that Poles pay higher taxes than other European countries. Women are more willing to pay taxes, treating it as an obligation (65%), while only 50% of the surveyed men think the same. Almost half of the respondents stated that failure to report income to pay lower taxes is an expression of the weakness of the tax system. Research limitations/implications: The analysis concerned only a single research group; therefore, the results should not be applied to a larger or the entire collective. However, they may contribute to further research. Originality/value: The article contains the results of primary research on tax knowledge and how young people from generation Z perceive taxes and the concept of tax morality. Most of the respondents were interested in tax subjects being introduced into the curriculum. Therefore, the results provide a basis for considering the introduc-tion of tax issues in all fields of economic study. The paper is one of the few in the Polish literature that contains an analysis of university students perceptions of taxes.

Purpose: It is nowadays believed that the effective implementation of the principles of sustainable development in companies requires cooperation in entire supply chains. Companies are guided by various motivators and face various barriers to the implementation of sustainable supply chain practices (SSCPs); however, so far, no attention has been given to examining the relationship between them. Thus, the aim of the paper is to examine such relationships. Design/methodology/approach: The paper presents the results of a survey conducted on a sample of 500 companies. The aim of the paper is achieved by examining Spearman’s correlation coefficient. Findings: In most cases, a positive correlation is observed between the motivators for and barriers to SSCPs implementation. Additionally, such dependence occurs more often for external motivators, compared to internal motivators. Research implications: The activities supporting the implementation of SSCPs should concentrate on strengthening internal motivators in companies (e.g., by propagating relevant knowledge) as well as overcoming internal barriers. The importance of external motivators seems to be reduced by the coexistence of barriers. Originality/value: This paper contributes to supply chain and sustainable development literature by identifying a positive correlation between motivators for and barriers to SSCPs implementation. Such a finding may be important to policymakers, as it suggest that concentrating merely on motivating companies to implement sustainability principles may not be sufficient if it is not accompanied by barrier-breaking mechanisms.

Purpose: Stakeholder capitalism is a system in which organisations seek long-term value creation by considering all stakeholdersʼ needs. The paper aims to identify how stakeholder capitalism has become embedded in sustainability reporting over time and explore how it currently affects the standardisation of the ESG disclosure framework. Methodology/approach: The study reviews the essential works and research studies published over the last six decades that reflect the emergence or the revival of the stakeholder capitalism concept. The paper also analyses the complex environment of accounting standard-setters and regulators who promote various non-financial report-ing frameworks or standards. Findings: The system of stakeholder capitalism may propel the harmonisation of sustainability reporting and serve common interests. It refers to more than just business organisations, which should focus on long-term value creation and consider their environmental impacts on the planet. It is a broader concept of engaging governments in a joint effort to create prosperity for their people, attracting society to enter the dialogue and ensuring planetary wellbeing. Originality/value: The work gives an insight into the waves of changes in the sustain-ability reporting standardisation scene that have gained momentum over the last two years. It addresses the critical views of experts and debates on how harmonising inter-national standards can make sustainability reporting and stakeholder capitalism genuinely serve the interest of stakeholders and the planet.

Purpose: The aim of the article is to present the role played by ethics and religion in shaping the concept of corporate social responsibility (CSR) on the example of Islam. Therefore, this paper focuses on CSR in Islamic companies and attempts to discover whether Islamic countries are a cultural circle where culture and religion are advantageous when developing CSR. Methodology/approach: A case study was used to determine CSR disclosure in airlines. Findings: The results showed that ethics and philanthropy were important to CSR disclosure in Islamic companies. Religion in Islamic countries has a huge impact on companies disclosing their philanthropical and ethical activities. Practical implications: This paper will better enable academics and practitioners to understand CSR problems in Islamic countries. Our research underlines the role of ethics and religion in the context of CSR. Originality/value: This paper makes an important contribution by highlighting the importance of ethics to CSR in Islam countries and raises the possibility of CSR reporting being adopted in Islamic companies.

Purpose: The paper aims to explore how financial and ESG reporting have changed under the influence of rising economic and business uncertainty and how these changes may influence corporate accountability. Methodology/approach: The main research method is the extensive literature review. For inference, the methods of analysis and synthesis are used. Findings: The paper is based on positive and normative approaches. The positive approach reveals the key corporate reporting changes in times of uncertainty, analyzed in the light of the legitimacy theory and stakeholder theory. The paper indicates how different levels of uncertainty (economic policy uncertainty, business uncertainty, accounting uncertainty, audit uncertainty, uncertainty in ESG performance, and ESG assurance) can influence corporate reports and thus cause a significant change in corporate ac-countability. The proposed normative approach assumes that corporate reporting will become more accountability-based, depicting the uncertainties at their different levels, which should be supported by reporting companies, controllers, and regulators. Originality/value: Since limited studies exist that focus on corporate reporting in times of uncertainty, the paper fills the gap. The paper contributes to the understanding of the significance of uncertainty in corporate reporting and its influence on accountability, thus offering findings that are potentially useful for both theory and practice.

This paper analyzes the relationship between growth opportunity measures and the future growth of companies. If there is a correlation between a company’s growth potential and its real growth, then the markets are more predictable and effective. The survey was conducted on the example of the following European markets: Austria, the Baltic Countries, Hungary, France, Poland, and Germany. The goal of this paper is to assess the relationship between growth opportunity measures and the future growth of companies listed on the stock exchanges of some markets in the European Union. The countries considered can be classified according to the size of the state, market liquidity, and the maturity of the exchange. Those external factors were expected to influence the strength of the growth and its opportunity relationship. It was found that growth opportunity measures based on market prices have predicting power for the future growth of companies. They are also strongly related to companies’ future growth in large countries and weakly related to future growth in small countries. This paper adds to the literature on the application of growth opportunity measures regarding market characteristics. These results are in line with the view that market liquidity should increase its efficiency in revealing the value of stocks and the Comprehensive Advantage of Large Countries hypothesis.

Purpose: The article subject concerns the research problem of the role of hyper-personalization in the evolution of the company’s relationship with customers. The article aims to identify the potential of hyper-personalization as a CRM tool in a smart organization and find research gaps and areas for further research. Design/methodology/approach: The paper is based on a critical literature review within the field of management and marketing theory and represents the relational approach. The literature review was made as an exploratory study. Findings: Based on the results of that theoretical research and utilizing a relational approach, the article presents the Customer Relationship Management during the technology evolution The theoretical findings indicate a research gap: using hyper-personalization and digital technology for achieving the Customer Relationship Management aims is a highly topical issue and still little penetrated by researchers. Research limitations/implications: The findings and conclusions contained in the article require another step in the scientific process, namely empirical verification. Originality/value: A value of this paper is the fact that it shows the contemporary research directions for the Customer Relationship Management concept in the digital and smart world and combines these with the theoretical and practical frameworks as well.

Purpose: The paper addresses the research problem of the new organizational reality which will include hybrid virtual teams, where both humans and artificial agents will be members and management tasks or leadership roles will be assumed by artificial intelligence. The objectives of the paper are to initially answer 4 research questions: (1) what are the characteristics of virtual teams in the era of intelligent technology, (2) what is the role of technology in changing the human-machine relationship, (3) to what extent can artificial intelligence replace humans in a virtual team, (4) how can team members be replaced by artificial intelligence in a virtual team. Design/methodology/approach: The research method is a literature review and our own empirical research concerning the new organizational reality with hybrid virtual teams consisting of humans as well as artificial agents. The research data was the results of a long-term observation of a virtual team which was conducted in June 2021 in a group of students who worked 36 hours using online management tools in TransistorsHead.com and MS Teams. Findings: The research has shown that virtual teams require different ways of communication and that consequences of working in such a team change the types of tasks, time spent working together as a group and social aspects of cooperation between team members. This experiment has shown that the decision-making process based on artificial entities can fulfill the requirements of virtual teams and that such entities can be considered as teammates or teams (Team As A Software – TAAS). It is also possible also to imitate a human-like manager (Manager As A Software – MAAS) or its higher evolutionary copy, namely a “sophisticated superhuman machine”. Research limitations/implications: The research results presented here are an example of research conducted from 2012 on, by means of online managerial tools, concerning the work of virtual teams and the opportunity to replace a human manager with a robot one. The answers to the research questions can only be applied to the studied group of students and cannot be generalized for all teams. Future research will be conducted with a wider group of respondents. Originality/value: The originality of the presented research results lies in the fact that the data collected during the research represents the real activities undertaken by the manager and his/her team members during the 36-hour work on the task concerned rather than being mere declarations of these activities by the respondents.

Purpose: The main purpose of this paper is to discuss universities’ virtualization activities and to propose a framework for assessing the maturity of these actions at any university. Design/methodology/approach: The maturity model has been developed according to the Design Science Research in Information Systems (DSRIS) methodology as outlined by Vaishnavi, Kuechler and Petter (2019). Findings: The main finding in the paper is a new framework called Virtual Index of Maturity (VIM) that can help to measure the current state of universities’ virtualization activities and to plan their future development. The proposed framework includes all areas of their activity: teaching, research and administration and allows for assessing the virtualization maturity of each of them, considering their specificity. Consequently, the overall information on universities’ maturity in the context of virtualization activities is obtained. Such information can be used by university authorities to plan subsequent steps of development. Research limitations/implications: Once published and applied, the proposed framework of the Virtual Maturity Index (VIM) should be evaluated as part of further research, with any necessary corrections as deemed necessary. This should lead to the development of best practice for university managers, researchers and other stakeholders involved in virtualization issues. Originality/value: Our paper provides important contributions to both theory and practice in the area of universities’ virtualization operations. The Virtual Maturity Index (VIM) is a proprietary, original solution.

Purpose: The objective of the article is to explain mutual relationships between paradox mindset, slack resources, and organizational creativity in family and non-family businesses. The paper focuses on identifying similarities and differences between these two types of organizations. Design/methodology/approach: To investigate the relationships of our paper, we conducted empirical quantitative research on the sample of 343 Polish family and non-family businesses. The data were gathered in the fall of 2019. To assess the differences between family and non-family companies, we followed the recommendations of SEM multigroup analyses; thus, two estimations were made for every model – one where relationships between variables were restricted, and one where variables were unrestricted. Findings: We conclude that slack resources, financial and material, in particular, explain the variability of organizational creativity (operationalized in two dimensions: as creative novelty and as creative usefulness) to a great extent in both types of organization. At the same time, the paradox mindset leads to increased creative novelty in family businesses while it is unimportant in their non-family counterparts. Overall, the differences between the models of determinants of organizational creativity in family and non-family firms are not statistically significant in the present study. Research limitations/implications: The research results prove that slack resources are a necessary condition of organizational creativity in both family and non-family businesses. We believe that future research on the determinants of organizational creativity dimensions in family and non-family firms should consider more determinants, including organizational culture, strategy, mission, resource availability, organizational learning, and change management. Originality/value: The contribution of our study lies in developing the paradox mindset theory by conducting an analysis at the level of the entire organization, which has not attracted the attention of researchers so far. This study also provides arguments for the validity of the conceptualization and measurement of the paradox mindset in a one-dimensional approach.

Purpose: The impact of the observed multidimensional pressures and managerial tensions has increased the necessity to rethink the sources of competitive advantage, giving the ground for developing open and collaborative streams of research. This paper addresses this necessity by blending the lenses of open strategizing with coopetition phenomena in order to understand the convergence between those two relational approaches to strategy formulation. Design/methodology/approach: It is a conceptual paper in which we recognize the compatibility and common roots of coopetition and open strategy. These we recognized through using seven managerial paradoxes. Findings: We explore seven strategic dilemmas that emerged from the overlapping contexts of those two – individually paradoxical – approaches. We identify several research avenues and specific research questions accompanying them. Research limitations/implications: The research questions asked at the end of theorization that we see as relevant can provide the ground for further research by scholars interested in strengthening the theoretical foundations of either coopetition or open strategy, but also in these two concepts simultaneously. As a conceptual article, this paper is prone to researchers’ subjectivity bias. Originality/value: This is the first study where the perspective of blending open strategy and coopetition is applied.

Non‑randomised response (NRR) techniques are modern and constantly evolving methods intended for dealing with sensitive topics in surveys, such as tax evasion, black market, corruption etc. The paper introduces a new NRR technique that can be seen as a generalisation of the well‑known crosswise model (CM). In the paper, methodology of the new generalised crosswise model (GCM) is presented and the maximum likelihood estimator of the unknown population sensitive proportion is obtained. Also, the problem of privacy protection is discussed. The properties of the newly proposed GCM are examined. Then the GCM is compared with the traditional CM. The paper shows that mathematically the CM is a special case of the newly proposed generalised CM and that this generalisation has high practical relevance.

Background and Objective: This article aims to explore the life cycle of state ownership, especially with reference to state-owned enterprises. This is important for the reason that, despite calls from many quarters of the world that states should relinquish their ownership of SOEs as a result of their numerous corporate governance problems, these enterprises still remain, as evidenced by the number of new and existing SOEs compared with those privatised and internationalised. Materials and methods: This article consolidates stand-alone elements of SOEs life cycle in the contemporary academic discourse on SOEs and makes recourse to experts’ and role-players’ insights to attempt to explain the life cycle of SOEs, from entry to exit. Results: In this context, this paper extends the theory of the corporate life cycle by illustrating that even though SOEs still remain despite calls for states to relinquish ownership, SOEs like private sector enterprises (PSEs) do exit. However, rather than outright winding up, as in the case of PSE exits, SOEs exit using different forms of strategies, including privatisation and more recently internationalisation. Practical implication: The life cycle of state ownership is important in modelling the problematic (corporate) governance of state enterprises and informing their theoretical life cycle. Conclusion and summary: The conventional wisdom, in line with contemporary academic discourse, is that the staying power displayed by SOEs is sustained by the assistance of their owning states, as SOEs are usually too important and big for states to fail. Although this conclusion appears correct, this paper further shows that in addition to states providing assistance to SOEs at the entry and development stages, once SOEs are established, they undergo a developmental stage in the form of restructuring, and that in contrast to what is believed in many quarters of the world, as sustained by the stand-alone prior research on the elements of the SOE life cycle in the academic discourse on SOEs, SOEs actually exit. It concludes by identifying a topical and important area for further research.

Background and Objective: The relationship between FDI and trade has long been the subject of much economist research. However, many theoretical and empirical studies have not reached a universal and definitive conclusion. The prevailing view is that there may be substitution, complementarity and ambiguity between the two. The scientific goal of the article is to explore the relationship between China’s FDI and trade with the European Union (EU) and to examine whether it is complementary or substitute. Materials and methods: The paper selects China’s imports and exports from the EU and China’s total direct investment in the EU from 2005-2020 and utilises quantitative analyses. The co-integration analysis and Granger causality test analysis were conducted in this paper. Results: It can be concluded that there is a stationary linear combination and long-term equilibrium relationship between Chinese FDI to the EU and trade with the EU. At the same time, Granger causality tests revealed a bidirectional causality relationship between China’s FDI and trade with the EU. Practical implications: This paper provides information on the relationship between investment and trade when developed regions receive investment from a developing country. The study shows that Chinese investment in the EU and China-EU trade are mutually reinforced. Conclusion and summary: Chinese direct investment in the EU and China-EU bilateral trade interact with each other. A complementary relationship was found between China’s FDI and trade with the European Union.

Purpose: The study aims to identify the image of the controller profession by students of controlling. The research question is: How do potential future controllers perceive the controller profession? Methodology/approach: The investigation presented in this paper takes a qualitative approach. The study uses metaphors and projection – the Forced Metaphor Elicitation Technique and narrative analysis. Findings: The image of controllers is varied. They are viewed as intelligent, cunning, clever, good strategists, and observers. They possess adaptation capabilities, intuitive thinking, and creativity. Their job is characterized by using different tools and working with massive amounts of data, documents, tables, and graphs. A controller’s position is seen as significant as they enhance results, watch over other workers, and minimize mistakes and costs. Controllers are respected or even feared, dangerous, and some-times they play the role of an alpha wolf. Research limitations/implications: The findings of the study may be culture-sensitive. This limitation calls for intercultural research in various countries to enable an understanding of the controller’s role across the globe. Value: The paper proves the appropriacy of applying the symbolic-interpretive para-digm in behavioral accounting research. The research is one of the first investigations in accounting, and probably first in controlling, to demonstrate that the metaphors used to describe controllers reveal how the controller’s role, tasks, and work are seen. The findings can be applied in accounting education, career planning in accounting, and in shaping the professional image by associations of accountants and controllers. The image of controllers displayed future controllers reveals the direction in which controlling is probably headed.

Purpose: The purpose of this paper is to investigate the factors that influence compliance with IAS 38 mandatory disclosure requirements for intangible assets by companies listed on the Warsaw Stock Exchange. Methodology/approach: Based on the content analysis of 117 consolidated financial statements for 2018, disclosure indexes were calculated, which serve as independent variables in multiple regression analysis. Findings: In line with signaling theory, entities signal their superiority (high profita-bility) with costly signals, i.e., disclosing information that cannot be easily obtained from accounting systems (referred to as advanced disclosures). Low-quality firms (with lower profitability) disclose basic information more intensively, which can be easily obtained from accounting systems, and at a low cost. A higher number of significant shareholders (higher information asymmetry) forces better compliance, especially with regard to advanced disclosure. Research limitations/implications: Limited and cross-sectional research sample. Originality/value: The paper demonstrates that mandatory disclosure items differ with respect to the preparation cost. Considering basic and advanced disclosure (with low and high preparation costs, respectively) is potentially beneficial for a deeper un-derstanding of the field.

Purpose: This paper attempts to answer the question to what extent the entrepreneurial ecosystems theory fits in with the social entrepreneurship phenomenon. The objective is to fill this gap by presenting findings from an integrative review of prior systematic reviews available in the entrepreneurial ecosystems literature. Design/methodology/approach: In the paper, we apply a scoping review and an umbrella review focused on an in-depth analysis of findings obtained in previous reviews, thus taking the form of a review aiming for theory development. Findings: Our paper contributes to addressing the gaps in the current literature on social entrepreneurship and ecosystems. First, it points to the different types of actors in social entrepreneurial ecosystems (SEE), whose existence may foster social entrepreneurship and facilitate creating social impact. Second, it brings into focus the potential of SEE by drawing attention to the fact that a productive entrepreneurial ecosystem (EE) results in job creation and reduction of unemployment, both of which are crucial for social entrepreneurship. Third, as a result of this scoping review, it proposes an extension of Isenberg’s model of EE which can be seen as a cumulative contribution to existing knowledge in the field. Research limitations/implications: This study has certain limitations typical for reviewing investigations. Originality/value: The special value of the paper can be seen in the scoping literature review itself. So far, there has been limited study on social entrepreneurial ecosystems, the role of entrepreneurial ecosystems in development of social enterprises, and conversely, the role of social “components” in entrepreneurial ecosystems.

Purpose: The paper aims to answer the question of how the digital entrepreneurial ecosystem (DEE) shapes the activities of companies from highly traditional industries. In particular, we want to identify different types of actors from the DEE and how they foster the entrepreneurial activities of very traditional companies with a high proportion of manual labor, as well as to identify the kinds of entrepreneurial activities fostered by the DEE. Methodology: This paper applies a case study method based on the analysis of highly traditional companies in the confectionery industry that cooperate through a digital platform to sell their products. The analysis is based on in-depth interviews with key informants from three companies in the confectionery industry, as well as with the provider of the digital platform, the IT supplier and a final B2B customer. Findings: The concept of DEE needs to be extended to include an analysis of two settings – digital and traditional – as both interfere with and influence entrepreneurial activities. Digital actors within the DEE play a key role in both the digital and the traditional entrepreneurial activities of highly traditional companies. Traditional actors, meanwhile, play a supporting role in the process. Additionally, the study determines the unique characteristics of the DEE, in which traditional companies are active. Originality: The paper develops the concept of the digital entrepreneurial ecosystem. The originality of the paper lies in the analysis of the DEE from the perspective of companies from a highly traditional industry. This is a novel approach towards the DEE that has not been proposed in the literature to date.

Purpose: The research aim is to identify how the university campus influences students’ entrepreneurial starting conditions. Approach: The underlying paper is conceptual. The focus is to propose new relationships among constructs and bridge existing theories. In this paper, the entrepreneurial constructs regarding the venture foundation process are linked to extant literature on Higher Educational Institutions and bordering topics. We develop research propositions by connecting these two topic streams through causalities. Findings: We developed eight research propositions, arranged into two categories: university setting and student setting encompasses. The university setting comprises factors accentuating the specific, fertile university environment, whereas the student setting the specific status and related peculiarities. Research limitations/implications: Limitations arise, as the conceptual paper does not refer to data. Thus, there is a risk of being incomplete and biased based on the theoretical lens. The study adds to the contextual view of student entrepreneurship. It offers a sound set of causalities as a base for future empirical research. Practical implications: Through the insights, universities can adapt their offers in terms of support space and services and start tackling the students’ needs, as well as their weak points in terms of entrepreneurial starting conditions. Originality/value: The paper contributes to the current literature by presenting relations between the university environment and student entrepreneurship – the two areas that have not been connected before. This allows a deeper understanding of how students deal with entrepreneurial issues and what reasons lie behind their related behavior.

Purpose: Virtual business incubators (VBIs) have become a rising phenomenon, as the role of digitalization in the entrepreneurial context has been gaining increasing relevance. The ongoing COVID-19 pandemic additionally underlines the importance of virtual solutions per se. To be effective, virtual business incubators must rely on effective knowledge transfer (KT). This paper aims to identify factors influencing knowledge transfer in virtual business incubators and to determine in which direction these factors influence KT. Methodology: For this purpose, a qualitative single case study is applied within an internationally acting virtual business incubator, using 12 semi-structured interviews with incubator management and staff, as well as incubatees. Findings: The findings suggest that precise communication, weak ties, heterogeneous contexts, and low engagement all influence knowledge transfer in virtual business incubators, each in a different way outlined in the paper. Research limitations/Implications: As a qualitative study, this research might be exposed to researcher bias and cultural bias. Originality/Value: This study extends the descriptive, conceptual VBI literature by adding the level of dynamic processes within the incubator. These new insights into the dynamic level enable precise intervention in the course of the KT, allowing challenges and strengths to be analyzed and understood theoretically and addressed and strengthened practically. This is indispensable to the successful operations of VBI processes.

Objective: The paper aims to identify the factors that determine accounting students’ engagement in online-only learning during the COVID-19 pandemic. Methodology/research approach: The unified theory of acceptance and use of technology (UTAUT) is used as a theoretical lens. Survey responses provided by accounting students participating in online-only courses at Polish universities between May and June 2020 are analyzed, and regression analysis is employed to verify the research hypotheses. Findings: According to our findings, student effort expectancy and performance signifi-cantly and positively influence their engagement in online-only learning. Age is also significant for student engagement, with younger students being more engaged in online-only learning than older ones. Originality/value: The study contributes to the literature on distance learning as it investigates a relatively unexplored group of students in an unprecedented situation. The paper also proposes new measures to capture UTAUT factors. The findings are also relevant for practice. It seems that after the pandemic, online learning will continue to be used and ensuring student engagement will become more relevant than technological issues, already mastered by both sides of the educational process.

In 2016–2019 Poland experienced a major social and fiscal policy shift: new government decreased the statutory retirement age and launched several new social programs, including the sweeping Family 500+ program under which social expenditure on family and children support increased suddenly from 1.5% to nearly 3% of GDP. Moreover, VAT gap reduction policies have been implemented swiftly. The new policy move became highly controversial. Many economists argued that overall it would lead to a significant deterioration of long-term fiscal sustainability. The government argued in turn that the new program was well financed by a complementary policy of VAT gap reduction and saw no risk to country’s fiscal sustainability. This paper provides one of the first evidence of the adverse effect of the policy shift on long-term fiscal sustainability. The analysis reveals that fiscal sustainability parameters have deteriorated significantly after 2016. Overall, the estimations presented in the paper show that in the period of 2016–2019 fiscal sustainability parameters may have been the lowest since Poland joined the EU in 2004. While these results should be treated with caution as they draw on very recent time series, the deterioration of Poland’s fiscal sustainability raises a pertinent policy question related to country’s capacity to respond to the COVID-19 pandemic, in particular in terms of the ability to use standard and non-standard fiscal policy instruments and monetary policy tools in response to the shock.