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The topic of farms that deal with environmental constraints is an ongoing agricultural policy issue, including within the Common Agricultural Policy. We propose empirical evidence based on a sample of Farm Accountancy Data Network (FADN) farm households, evaluate the influence of chosen factors on financially sustainable farm development and verify less-favoured area (LFA) farms&rsquo, growth compared with non-LFA households. To specify farm households, we use the Sustainable Growth Challenge (SGC) model and DuPont decomposition based on financial measures and indicators that were adopted from corporate finance. It is concluded that the differences in SGC and revenue growth values between LFA and non-LFA farms mainly results from the system of subsidising LFA farms that receive compensation for farming in areas with adverse environmental conditions. Generally, the impact of agricultural policies on LFA and non-LFA farms is significant and may weaken the effect on LFA. With the exception of education, other sociodemographic factors do not highly influence farm efficiency. Along with improvements in the quality of human capital (e.g., higher education level), awareness of subsidies, and debt and innovative solutions increases. The interest in precision agriculture and agriculture 4.0 is also growing, which directly translates into better technological and financial efficiency of farms.

The main aims of this article are to verify whether rates of return might be determined by stock prices and to evaluate low price anomaly on the example of Warsaw Stock Exchange. The author states that cheap assets characterized by nominally lower prices are more attractive to buy and bring higher profits in comparison to assets described as expensive. In order to verify the hypothesis, database of 13789 quotations from 1.07.1999 to 30.12.2013 was created. The sample was divided into three groups – cheap, average, and expensive stocks. Finally, the statistical analysis was conducted using 2924 records including only cheap and expensive units. Statistical analysis confirms that low–priced assets generate higher profits and lower losses.

Special Economic Zones have been operating in Poland since 1994 and are still growing. Tax incentives being offered in these Zones, as good infrastructure and administration support, are supposed to be attractions for newly established companies. The purpose of this article is to investigate whether tax incentives have an impact on the decision process of locating the investments in Special Economic Zones in Poland. The article presents a preliminary study, based on results of a questionnaire survey conducted among companies located in SEZ in Poland and presents subjective opinions of the investors about tax policy in SEZs. Results show that tax incentives are an important instrument attracting investors to Special Economic Zones. As the following analysis presents, tax reliefs seem to be an important investment incentive, however, the importance of income taxes is greater than the local costs to doing business. There are also some differences in evaluating tax support depending on a company’s size and the level of support in a particular region.

The article has two main objectives, first to describe the overall income situation, as well as the share of off-farm income in total incomes of farms in Canada and the United States (according to the orientation of production and “socio-economic” type), second, to review and assess the current selected tools affecting off-farm income generation. The share of non – farm income varies, depending on the orientation of the production and socio – economic household type. Especially in case of the US wherein the decrease in the share of non – farm income in total incomes was highly visible. Within the framework of agriculture policies and rural areas development, the instruments influencing the off-farm incomes directly and indirectly might be extracted. However, it should be highlighted that more important role will be assigned to instruments stimulating growth in non – farm employment on rural areas.

The article deals with the psychological determinants of investment decisions made by an individual investor on the capital market. The purpose of this article is to try to assess the relationship between capital involvement and selected personality traits and how individuals perceive investments in securities of different nominal unit price. The author attempts to verify whether specific price thresholds affect respondents in a similar way as prices of goods and services to customers, in the context of capital investment. The results of the nationwide survey of 564 individual investors are based on analyses using the model of the willingness to invest in shares with a specific nominal value compared to the individual characteristics of the respondents. The results of the study indicate a significant relationship between personality traits and the tendency to choose stocks with relatively low or very high denomination (current transaction price).

The main purpose of this article is to compare the profitability of foreign and domestic enterprises in Poland. It is assumed that foreign enterprises achieve better financial results in host country than domestic enterprises because of i.e. higher innovativeness of foreign enterprises (as in technology and organizational sphere) and better capital use. The analysis was conducted among large foreign-controlled and domestic – controlled enterprises in Poland. The research results indicate that taking risk related to financing by foreign capital led the direct invested enterprises to achieve higher profitability rates what may contribute to better development of foreign companies in Poland.

Since the economic transition Poland has faced many changes. Accession to the European Union improved the Polish economy and made it more attractive for foreign investments. Since 2004 Poland has been one of the major destinations of FDI in East and Central Europe Countries. Also during the global economic crisis Poland was a good location for foreign capital. The main aim of this article is an attempt to assess whether Poland is still attractive for the location of foreign direct investment. This article is a preliminary study. It is based on statistical analysis describing changes in foreign capital flows in Poland and its position in relation to other European Union countries. Results show that the position of Poland on the map of foreign investment has dramatically changed.

Companies operating on foreign markets search for greater effectiveness. Market expansion through foreign direct investments is the most advanced form of company internationalization. According to the literature, FDI are established mostly by profitable companies due to i.a. relatively high investment costs. Polish companies have begun to strengthen their position on foreign markets. As studies show, company expansion on foreign markets usually brings higher incomes in comparison to companies performing internationally. However, case of Polish companies indicates that companies operating only on national scale are more profitable.

Po latach rozwoju gospodarki krajowej, transformacji ustrojowej i towarzyszącym im nieustającym procesom globalizacji naturalnym zjawiskiem stało się funkcjonowanie przedsiębiorstw krajowych i przedsiębiorstw zagranicznych w ramach tego samego rynku. Przedsiębiorstwa te działają zatem wśród niemalże takich samych uwarunkowań składających się na zewnętrzne bliższe i dalsze otoczenie przedsiębiorstwa. Posiadają jednak różne możliwości pozyskiwania różnych zasobów, umiejętności zarządzania nimi oraz różne motywy postępowania, co wpływa na możliwość osiągania przez przedsiębiorstwa krajowe i zagraniczne rożnych efektów działalności. Udostępnienie publikacji Wydawnictwa Uniwersytetu Łódzkiego finansowane w ramach projektu „Doskonałość naukowa kluczem do doskonałości kształcenia”. Projekt realizowany jest ze środków Europejskiego Funduszu Społecznego w ramach Programu Operacyjnego Wiedza Edukacja Rozwój; nr umowy: POWER.03.05.00-00-Z092/17-00.

The purpose of this article is to show CSR activities organized by SEZs in Poland. Hypothesis is that the resources and activities related to corporate social responsibility implemented by the SEZ in Poland are among the largest and most effectively used in CSR in the whole country. To achieve the objective of the survey was used, in which the managing SEZ emphasized by their achievements in the field of CSR and costs. The data collected indicate that the actions of management zones in Poland, are among the most serious, concerted action in the field of CSR, implemented on many levels. Their impact on local communities is very large, and the value of the assistance reaches hundreds of thousands of zlotys per year.