University of Economics in Katowice

Peter Lewin and Nicolas Cachanosky seek to rehabilitate the concept of the average period of production (APP) introduced into Austrian capital theory by Böhm-Bawerk (1930). In their works, they argue that the financial concepts of Macauley’s Duration and Modified Duration are appropriate measures of the average period of production. For this reason, the most relevant aspects of the Austrian Business Cycle Theory (ABCT), i.e. the lengthening and shortening of the production structure, can be captured by them. In fact, the introduction of this concept into ABCT is pointless, since it only shows the sensitivity of the economy to changes in interest rates. Meanwhile, it does not help us understand a number of other phenomena that can be observed over the business cycle. By focusing on APP as represented by duration and modified duration, we are only referring to how the average value of all investments in the economy changes under the influence of a change in interest rates, ignoring other important phenomena that take place over the course of the business cycle.

Accurate forecasting of the level of volatility of financial instrument prices is important from the point of view of stock exchange investors. The aim of this paper is to measure the value relevance of transaction signals (buy/sell) by the relative strength index (RSI) in the case of State Treasury companies listed on the Warsaw Stock Exchange (WSE). The research covered the two hypotheses stating that stock buy (sell) transaction signals generated by the RSI indicator cause the occurrence of statistically significant positive (negative) abnormal returns (AR). These, in turn, support that RSI generates value-relevant signals, which are valuable investment tools and can be used to earn money on the stock exchanges. Based on the final research sample, including 75 buy signals and 88 sell signals, generated by the RSI indicator on the shares of State Treasury companies listed on WSE, an event study methodology was carried out. In 7-day event windows, calculations were made of AR, which is the difference between the realized and the expected return (estimated on the basis of the market model). The averaged ARs did not differ statistically significantly from zero on any of the tested days for both buy and sell signals. Therefore, research results do not indicate that share purchase (sell) transaction signals generated by the RSI indicator result in the occurrence of statistically significant positive (negative) average abnormal returns (AAR).

The aim of this study is to conduct a systematic review of the literature on consumer curiosity and its impact on consumer behavior. The “Scientific Procedures and Rationales for Systematic Literature Reviews” (SPAR‐4‐SLR) methodology and the “Theory, Context, Characteristics, and Methodology” (TCCM) framework were employed to analyze 122 papers published between 1992 and 2024. Articles were selected from the Web of Science database using key terms related to consumer curiosity. Consumer curiosity is a complex phenomenon that influences various aspects of consumer behavior, including purchase decisions, consumer engagement, and adaptation to new technologies. Curiosity serves as a significant moderator and mediator in consumer interactions with the market, especially in the context of new technologies such as AI and VR. The findings of this review indicate a growing interest in studying consumer curiosity in recent years, as reflected by the increasing number of publications. The practical implications of the analysis are significant for various stakeholders. Businesses can leverage these findings to develop more effective marketing strategies that engage consumers by stimulating their curiosity. Understanding how curiosity influences decision‐making can also aid in the development of innovative products and services that better meet consumers' unmet needs. Additionally, academic researchers can build on the theoretical frameworks related to consumer curiosity and design future research based on identified gaps. Finally, managers and marketing professionals can apply these insights to personalize shopping experiences and enhance consumer engagement, which can lead to increased brand loyalty and competitive advantage. This review emphasizes the need for further research on the role of curiosity in consumer behavior and its impact on product innovation and marketing strategies and provides recommendations for future research directions that could contribute to a deeper understanding of how curiosity shapes consumer interactions with brands and products.

The book amounts are modeled as values of a random variable, represented by a mixture of distributions of both the correct and error-contaminated amounts. The mixing coefficient represents the proportion of items with non-zero error amounts. This study addresses the problem of determining the sample size needed for testing statistical hypotheses regarding mean accounting errors. The average sample size is estimated using the Sequential Probability Ratio Test (SPRT), applying the Monte Carlo method. Estimating average audit errors is a common challenge in economic research.

This study aimed to investigate how AI impacts students’ intrinsic motivation and learning experiences in various cultural and academic settings. An analysis of the effects of AI-powered learning tools on intrinsic motivation and learning enhancement was conducted in early 2024. The study recruited 455 students (192 males and 263 females) from Egypt, Saudi Arabia, Spain, and Poland who were studying diverse majors in educational faculties. Using a 5-point Likert scale, the validated instrument included three dimensions with a total of 10 items: intrinsic motivation and AI, AI and enhancing learning, and overall perception of AI in education. Significant differences were found by nationality and major, with Polish students and education technology majors showing the highest motivation levels. As a result of enhancing learning experiences, autonomy, and critical thinking skills, AI tools were found to positively influence motivation. Motivation, however, was not significantly influenced by academic level. Despite ethical concerns, students held a moderately positive view of artificial intelligence in education. Further research on optimal AI implementation and ethical considerations in education is necessary based on these findings.

The paper presents the ‘progressive review’ for high pressure preservation/processing (HPP) (cold pasteurization) of foods and the next-generation high-pressure and high temperature (HPHT, HPT) food sterilization technologies. It recalls the basics of HPP and HPT, showing their key features and advantages. It does not repeat detailed results regarding HPP and HPT implementations for specific foods, available in numerous excellent review papers. This report focuses on HPP and HPT-related issues that remain challenging and can hinder further progress. For HPP implementations, the reliable modeling of microorganisms’ number decay after different times of high pressure treatment or product storage is essential. This report indicates significant problems with model equations standard nonlinear fitting paradigm and introduces the distortion-sensitive routine enabling the ultimate validation. An innovative concept based on the barocaloric effect is proposed for the new generation of HPT technology. The required high temperature appears only for a strictly defined short time period controlled by the maximal pressure value. Results of the feasibility test using neopentyl glycol as the barocaloric medium are presented. Attention is also paid to feedback interactions between socioeconomic and technological issues in the ongoing Industrial Revolution epoch. It indicates economic constraints for HPP and HPT developments and emerging business possibilities. The discussion recalls the inherent feedback interactions between technological and socioeconomic innovations as the driving force for the Industrial Revolution epoch.

The research problem concerns the responsibility of individual countries for achieving sustainable development goals. It is important because the dominant view in the inter-state debate is that individual countries are responsible for their own socio-economic development. The level of this development is crucial to the achievement of the “Sustainable Development Goals”. This raises the question of how the “Sustainable Development Goals” are to be realised in poor or conflict-ridden countries, i.e. countries that are unable to deal with the current challenges of socio-economic life. Questions of responsibility for achieving the “Sustainable Development Goals” are considered under the concept of global justice in the context of ideas of cosmopolitanism and statism. Theoretical considerations are juxtaposed with what has been implemented to date in the area of the “Sustainable Development Goals”. The subject of the research was the content of the reports issued since 2016 by the United Nations and entitled: “The sustainable development goals report”. These reports were contrasted with the United Nations resolution entitled “Transforming our world: the 2030 Agenda for Sustainable Development”. In the research process, questions were formulated about what the reports communicate and why, and how this communication has changed from year to year. The analysed Reports are based on detailed statistical data. They review the 17 “Sustainable Development Goals”, indicating what has been achieved and what has not been achieved so far. Looking for trends in the analysed Reports, changes in the message were noted. With the intensification of unfavourable phenomena in the environment and the increasing threat to the achievement of the “Sustainable Development Goals” in the 2030 perspective, there is a decline in phrases expressing a positive sentiment. This is a consequence of the overlapping climate, social, health, economic and political crises. The analysis of the reports indicates that the achievement of the 2030 “Sustainable Development Goals” is at risk. It is also emphasised that this tendency can be overturned. The findings of the research process show that the implementation of the “Sustainable Development Goals” in a global perspective requires coordinated action by the international community guided by ideas of cosmopolitanism rather than statism. A prerequisite for the realisation of the “Sustainable Development Goals” is the rejection of national egoisms in favour of international cooperation and action for the common good of all mankind.

We propose a simple smoothing method for the spatiotemporal disaggregation of economic time series. Contrary to the existing methods, our approach does not require exogenous regressors and can therefore be used for countries lacking long and reliable series of regional economic indicators. The proposed method can also be applied sequentially, implying that one needs to revise only the estimates for the last low-frequency period when new data are disaggregated. This is a convenient feature when historical estimates are of interest. We apply this method to disaggregate annual real GDP data for Polish regions into quarterly series and compare the results with the series obtained from a multivariate linear regression-based procedure, considering the differences between the estimates and the consequences for regional recession dating. We also examine the nowcasting performance of the smoothing algorithm and find that it is superior to the regression-based alternative for most of the studied sample lengths and horizons up to a year.

Corporate social responsibility (CSR) is a management concept that has emerged in response to society’s growing sensitivity to the negative externalities of economic activity. The market success of contemporary enterprises is no longer determined solely by their ability to innovate and select tools for shaping their market positions, but also by their capability to define their roles within the social environment of which they are undoubtedly a part. This article aims to explore how Polish Generation Z consumers perceive and respond to CSR initiatives implemented by enterprises. Understanding their perspectives is particularly crucial, given that the attitudes, preferences, and behaviors of this demographic will soon significantly influence market landscapes and enterprises’ potential to attain success in them. The findings reveal that young Polish consumers place considerable importance on corporate social responsibility. This significance is reflected in their overall attitudes towards CSR initiatives and their willingness to actively support these efforts, such as through their market choices.

This article explores the impact of the COVID-19 pandemic on the virtualization of consumer behaviors in the Polish service sector, emphasizing shifts in service delivery mechanisms. The pandemic acted as a catalyst, accelerating the adoption of virtual solutions across various sectors including tourism, gastronomy, culture, education, and healthcare, as necessitated by social distancing and other restrictive measures. The article first outlines the integration of digital solutions into various service sectors, focusing on the impact of these technologies on consumer behaviors and service delivery. Next, utilizing an online survey conducted in November 2022 with a sample of 1,100 respondents, whose socio-demographic profile corresponds with that of Polish internet users (Ariadna panel), the study examines consumer perceptions and the effectiveness of digital transformations during the pandemic. The findings indicate a high appreciation among Polish consumers for virtual solutions that improved access to and use of services during restrictive periods. However, the continuation of these virtual engagements post-pandemic appears selective, with significant inclination towards solutions in administrative, food delivery, and telemedical services, while long-term engagement in virtual cultural services is less favored. This study underscores the dual role of necessity and technological advancement in reshaping consumer interactions with service sectors, suggesting a sustained yet selective future for virtual service consumption post-pandemic.

Digital subscription services have become an ubiquitous presence in various sectors, including entertainment, news, music, gaming, and software. Despite their growing significance and impact, particularly within leisure and hobby areas, the problem of user acceptance of these services has not yet received a comprehensive explanation. To address this research gap, a systematic literature review has been carried out. The literature items were extracted from the largest academic databases, i.e., Scopus and Web of Science. Then, using Bibliometrix and AI-driven ASReview software, 35 items concerning leisure and hobby subscription services were selected for a full-text analysis. Research reveals a noticeable concentration of academic discourse in the last five years, coinciding with the onset and aftermath of the COVID-19 pandemic. The analyzed papers investigated user acceptance of Internet subscriptions, with particular emphasis on leisure and hobby realm, exploring, e.g., willingness to pay for subscription services and IT infrastructure influence.

This study examines the existence of earnings management by travel agencies operating in Poland at the time of global disease threats over the last decade. To measure earnings management the estimation of total discretionary accruals was used constituting some changes in the working capital. Among the available research methods, hypothesis verification procedures based on panel models have been selected. It is found, that in the times of economic prosperity, the phenomenon of earnings management does not occur as it is not necessary. In tough years, when the actual financial result becomes unsatisfactory, shaping the result is used as a tool for its correction. Interpretation of the results requires caution due to their sensitivity to the adopted research methodology. They should be treated as an incentive to a thorough analysis of the content of financial statements and to research into the earnings management of tourism businesses.

The introduction of the obligation to prepare ESG reports taking into account EU Taxonomy is a challenge for enterprises, but at the same time opens up the possibility of using disclosures in this area to assess entities in the context of environmentally sustainable activities. Legal changes in the field of the Green Deal have been introduced in the last three years, and in the area of EU taxonomy this process is still ongoing, resulting in a deficit of research on the effects of implementing the new legal regulations. The main goal of our study is to assess the importance of the newly applicable ESG reporting and environmental disclosure requirements under EU Taxonomy in improving the quality and comparability of sustainability reporting and the creation of ESG ratings. A qualitative research method was applied based on multiple case studies using content analysis on the basis of ESG reports for 2021-2022 for entities listed on the Warsaw Stock Exchange. The research results indicate a very low level of activities classified as environmentally sustainable and taxonomy-aligned. Additionally, the results may also indicate problems with implementing the new solutions in reporting practice. At the same time, a positive impact is noted of the implementation of taxonomic reports on improving the comparability and detail of disclosures.

Background: This multi-site retrospective analysis with a control group was devised to evaluate the impact of prophylactic SARS-CoV-2 vaccination the on outcomes of myocardial infarction (MI) patients with confirmed COVID-19. Methods: An overall of 129 subjects who had been diagnosed with COVID-19 and MI were included in the analysis and were divided into the study group (44 vaccinated patients) and the control group (85 non-vaccinated comparable patients). The primary outcome measure was defined as the time until in-hospital death, while the secondary outcome measure was defined as the time until death outside the hospital setting. Results: According to in-hospital mortality analysis, 1 (2.27%) subject died in the study group, whereas a total of 19 (22.4%) subjects died among the controls (OR = 0.08; CI: 0.001–0.553; p = 0.023). The impact of vaccination on the in-hospital outcomes of patients treated for COVID-19 and MI was further confirmed using Cox regression analysis (HR: 0.1 CI: 0.01–0.77; p = 0.026). The observed difference was the absence of respiratory failure requiring mechanical ventilation in the study group, whereas it was observed in 14 (16.47%) patients in the control group. During out-of-hospital observation, there were no observed differences in mortality (OR: 1.56; 95% CI: 0.21–11.52; p = 0.66). Conclusions: The complete prophylactic SARS-CoV-2 vaccination course demonstrates a protective role in patients undergoing treatment for MI with confirmed COVID-19 during in-hospital observation.

Computer vision in sports analytics is gaining in popularity. Monitoring players’ performance using cameras is more flexible and does not interfere with player equipment compared to systems using sensors. This provides a wide set of opportunities for computer vision systems that help coaches, reporters, and audiences. This paper provides an introduction to the problem of measuring boxers’ performance, with a comprehensive survey of approaches in current science. The main goal of the paper is to provide a system to automatically detect punches in Olympic boxing using a single static camera. The authors use Euclidean distance to measure the distance between boxers and convolutional neural networks to classify footage frames. In order to improve classification performance, we provide and test three approaches to manipulating the images prior to fitting the classifier. The proposed solution achieves 95% balanced accuracy, 49% F1 score for frames with punches, and 97% for frames without punches. Finally, we present a working system for analyses of a boxing scene that marks boxers and labelled frames with detected clashes and punches.