Dudycz / Osbert-Pociecha / Brycz Efficiency in Business and Economics

Proceedings from the 7th International Conference on Efficiency as a Source of the Wealth of Nations (ESWN), Wroclaw 2017
1. Auflage 2018
ISBN: 978-3-319-68285-3
Verlag: Springer Nature Switzerland
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 312 Seiten

Reihe: Springer Proceedings in Business and Economics

This volume offers a collection of studies on problem of organization's efficiency, criteria for evaluating the efficiency, tools and methods for measuring the efficiency. The articles included present an interdisciplinary look at efficiency, its essence and the principles of its measurement. The contributions also identify a broad spectrum of conditions for achieving efficiency in various types of organizations and systems (e.g. public institution, non-profit organizations), representing various industries. The book collects selected papers presented at the 7th International Conference 'Efficiency as a Source of the Wealth of Nations', held in Wroclaw, Poland, in May 2017. 


Tadeusz Dudycz is a professor of finance at the Faculty of Computer Science and Management at the Wroclaw University of Science and Technology. His areas of expertise include financial analysis, valuation, management accounting, capital markets.Grazyna Osbert Pociecha is a professor of Economics. She works in the Department of Business Economics at the Wroclaw University of Economics. Her scientific  and research interests focus on issues related to change management, flexibility of  organization and also to paradoxes and dilemmas in management.Bogumila Brycz is an assistant professor at the Faculty of Computer Science and Management at the Wroclaw University of Science and Technology. Her research interests include financial analysis, value management and valuation, capital market.

Autoren/Hrsg.

Dudycz, Tadeusz

Osbert-Pociecha, Grazyna

Brycz, Bogumila

Inhaltsverzeichnis

1;Preface;6
2;Contents;8
3;Factors Affecting the Internal Audit Effectiveness: A Survey of the Polish Private and Public Sectors;11
3.1;1 Introduction;11
3.2;2 Research Hypotheses;12
3.3;3 Research Method;14
3.4;4 Results;20
3.5;5 Discussion and Conclusions;23
3.6;Appendix;24
3.7;References;25
4;Measuring Social Effectiveness of Public Institutions: A Contribution to Methodology;27
4.1;1 Introduction;28
4.2;2 Methodological Approach;29
4.3;3 Empirical Research;30
4.3.1;3.1 Code of Conduct;31
4.3.2;3.2 Places of Enquiries: Public Institutions;32
4.3.3;3.3 Results of the Empirical Research: Example;32
4.4;4 Summary;33
4.5;References;34
5;Does High IPO Valuation Benefit Investors?;35
5.1;1 Introduction;35
5.2;2 Literature Review and Research Hypotheses;37
5.3;3 Sample Description and Research Methods;38
5.4;4 Results;39
5.5;5 Conclusions;45
5.6;References;46
6;CEO Succession in the Polish Capital Market in 2000-2015;48
6.1;1 Introduction;48
6.2;2 Literature Review;49
6.3;3 Sample Selection;51
6.4;4 Results;54
6.5;5 Conclusions;64
6.6;References;64
7;The Absorptive Capacity of a Finance Company as an Efficiency Factor of Its Pro-technology Innovation Activities;66
7.1;1 Introduction;66
7.2;2 The Role of Absorptive Capacity in Pro-technology Innovation Activities;67
7.3;3 Methodology and Hypotheses;71
7.4;4 The Influence of the Absorption Capacities of Finance Companies in Poland on the Efficiency of Conducting a Technology Trans...;72
7.5;5 Conclusion;76
7.6;References;77
8;Financial Microeconometrics as Research Methodology in Corporate Finance and Accounting;79
8.1;1 Introduction;79
8.2;2 Financial Microeconometrics and Empirical Corporate Finance;80
8.3;3 Literature on Financial Microeconometrics;81
8.4;4 Major Methodological Concerns;82
8.4.1;4.1 Models of Financial Microeconometrics;82
8.4.2;4.2 Endogeneity;83
8.4.3;4.3 Selection Bias and Treatment Effects;84
8.5;5 Financial Microeconometrics Research in Poland;86
8.6;6 Conclusion;87
8.7;References;87
9;The Empirical Study of the Efficiency of the Impact of Macroeconomic Variables on National Currency;89
9.1;1 Introduction;89
9.2;2 Literature Review;90
9.3;3 Methodology;91
9.4;4 Conclusion;93
9.5;References;94
10;How Can Firms Appropriate Their Investments in Innovation Activities?;96
10.1;1 Introduction;96
10.2;2 Literature Review;97
10.2.1;2.1 Formal Appropriation Methods;97
10.2.2;2.2 Informal Appropriation Methods;98
10.3;3 Data and Methods;100
10.4;4 Results and Discussion;101
10.5;5 Conclusion;103
10.6;References;104
11;Interdependence Between Value Drivers and Value Migration Processes: Evidence from Warsaw Stock Exchange;106
11.1;1 Present State of Knowledge and Research Hypothesis;106
11.1.1;1.1 Enterprise Value and Value Drivers;106
11.1.2;1.2 Value Migration Processes, Value Migration Phases and Measures of Value Migration;109
11.1.3;1.3 Research Hypothesis;110
11.2;2 Empirical Data and Research Findings;110
11.2.1;2.1 Description of Database Structure;110
11.2.2;2.2 Research Procedure;111
11.3;3 The Interdependence Between Value Drivers and Value Migration Processes;113
11.3.1;3.1 Value Migration Phases and Value Drivers;113
11.3.2;3.2 Change in Value Migration Phases and Value Drivers;119
11.4;4 Conclusion;121
11.5;References;123
12;Remodeling of FLIEM: The Cash Management in Polish Small and Medium Firms with Full Operating Cycle in Various Business Enviro...;126
12.1;1 Introduction;126
12.2;2 CLFOC Model;132
12.3;3 Empirical Data from Polish Full Operating Cycle SME´s;134
12.4;4 Conclusions;136
12.5;References;137
13;Tender Bids Evaluation in the Context of Value-Based Management;140
13.1;1 Introduction;140
13.2;2 Choice of Criteria for Bid Evaluation: Description of the Problem;141
13.3;3 Bids Evaluation Criteria in the Context of Value-Based Management;143
13.4;4 Specification of the Evaluation Criteria;144
13.5;5 Specification of the Valuation Model and Calculation of Weights of Evaluation Criteria;145
13.6;6 Calculation of Criteria Weights: Case Study;146
13.7;7 Communication of Tender Results;149
13.8;8 Limitations of the Model and Its Scope of Application;150
13.9;9 Conclusions;150
13.10;References;151
14;Raw Material as a Resource Implying Effectiveness of Product Innovations: Attempt to Assess the Selected Implementation;152
14.1;1 Introduction;152
14.2;2 Product Calculation Method by the Raw Material;154
14.3;3 Raw Material as a Resource Implying Implementation Effectiveness: Own Research Results;159
14.3.1;3.1 Research Scope and Subject;159
14.3.2;3.2 Assessment of Effectiveness of Product Innovations: Categorisation by the Raw Material;159
14.4;4 Conclusion;163
14.5;References;164
15;Institutions and Entrepreneurial Environment in Visegrad Four Countries and Finland;166
15.1;1 Introduction;166
15.2;2 Institutions as Rules of Game;167
15.2.1;2.1 Types of Institutions;168
15.3;3 Entrepreneurial Context and Influence of Institutions on Entrepreneurship;168
15.3.1;3.1 Institutional Framework Dimensions from Entrepreneurship Perspective;170
15.4;4 Country Institutional Profile and Comparative Studies;171
15.5;5 Comparing Visegrad Four Countries and Finland;173
15.5.1;5.1 Comparing Visegrad Four Countries´ and Finland´s Institutional Profiles;174
15.5.2;5.2 Cluster Analysis Results;175
15.5.3;5.3 Main Findings and Implications;176
15.6;6 Discussion;178
15.7;7 Conclusion;180
15.8;References;180
16;A Random Walk of Stock Prices in Visegrad Group: Efficient Market Hypothesis;182
16.1;1 Introduction;182
16.2;2 Literature;184
16.3;3 Data and Methodology;185
16.3.1;3.1 Empirical Results;186
16.4;4 Conclusions;190
16.5;References;191
17;Performance Measurement and Financial Results in Polish Enterprises: Empirical Evidence;193
17.1;1 Introduction;193
17.2;2 Performance Measurement System and Effects of Its Development and Implementation;194
17.3;3 Methodological Assumptions of the Study;197
17.4;4 Findings from the Study on Financial Consequences of Performance Measurement in Polish Companies;197
17.5;5 Discussion;204
17.6;6 Conclusion;206
17.7;References;206
18;The Risk of Growth Failure of the SME Sector Companies Operating in the Shadow Economy;208
18.1;1 Introduction;208
18.2;2 Selected Growth Factors of SMEs;209
18.3;3 Real and Illusory Effects of the Shadow Economy as a Factor Influencing the Process of Business Growth;211
18.4;4 The Impact of the Shadow Economy on the Process of Business Growth;214
18.4.1;4.1 The Impact of the Shadow Economy on Business Growth;214
18.4.2;4.2 The Paths for Growth of Companies in the Shadow Economy;215
18.4.3;4.3 Typical Characteristics of the Analysed Cases for the Three Paths of Growth;216
18.5;5 Summary and Conclusions;222
18.6;References;222
19;Implementation of CSR Principles in HR Management in Micro, Small and Medium-Sized Enterprises in the Pomerania Euroregion: A ...;224
19.1;1 Introduction;225
19.2;2 Research Methodology;227
19.2.1;2.1 The Research Concept;228
19.2.2;2.2 Measurement Models;229
19.2.3;2.3 CSR;230
19.2.4;2.4 Attributes of the Company;231
19.2.5;2.5 Scope of Random Sampling;232
19.3;3 Research Results;233
19.3.1;3.1 Characteristics of the Research Sample;233
19.3.2;3.2 Execution of CSR Actions: Employees. Research Results;235
19.3.3;3.3 Partial Model I: The CSR Model;239
19.3.4;3.4 Cross-border Relationships: Employee Flows;240
19.3.5;3.5 Partial Model II: The Cross-border Operations Model;241
19.4;4 Conclusions;243
19.5;References;245
20;Implications of Systems and Linear Thinking for Meeting Logistics Needs of Customers;247
20.1;1 Introduction;248
20.2;2 Literature Review;248
20.3;3 Methodology;249
20.4;4 Linear Thinking Applying;253
20.5;5 System Thinking Applying;255
20.6;6 Discussion and Conclusion;258
20.7;References;260
21;Effective Organizational Communication: The Results of Empirical Studies in Poland;261
21.1;1 Introduction;261
21.2;2 Review of the Literature;262
21.2.1;2.1 Traditional Communication;263
21.2.2;2.2 Opportune Communication;264
21.2.3;2.3 Networking Communication;265
21.3;3 Method;266
21.4;4 Results;267
21.5;5 Conclusion;273
21.6;References;274
22;Independent Economic Regulation for Efficient and Fair Business: Case Study of Utilities Sector in Slovakia;277
22.1;1 Introduction;277
22.2;2 Independence and Independent Regulators;278
22.2.1;2.1 Reasons for Independent Regulation;280
22.2.2;2.2 Balancing Independence: System of Checks and Balances;282
22.3;3 Case Study from Slovakia: Regulatory Office for Network Industries;284
22.3.1;3.1 Utilities Sector Regulator in the Slovak Republic;284
22.3.2;3.2 The RONI Case;285
22.3.3;3.3 Assessing the Independence Parameters of RONI;286
22.4;4 Findings and Discussion;286
22.5;5 Conclusion;293
22.6;References;294
23;Towards Reporting for Sustainable Development;296
23.1;1 Introduction;296
23.2;2 Business Sustainability Approaches;298
23.3;3 Sustainability Reporting;300
23.4;4 Integrated Reporting;304
23.5;5 Discussion;307
23.6;References;310