Pub Date : 2023-03-27DOI: 10.18778/2391-6478.1.37.07
Marika Ziemba
The purpose of the article/hypothesis: The purpose of the paper is to present the historical background of sustainable development and importance of sustainable finance, and to discuss the most important challenges currently facing sustainable finance. The article verifies the research hypothesis: recent changes (implementing of the EBA Action Plan, the Sustainable Finance Disclosure Regulations and facing the COVID-19) in the finance sector can help institutions pursue an effective, sustainable development policy. Methodology: The article contains an extensive literature review of the sustainable development policy (including legal acts). Results of the research: Sustainable development in the finance sector plays an important role and is currently facing three main challenges: the implementation of the EBA Action Plan, the Sustainable Finance Disclosure Regulation and COVID-19. The EBA Action Plan and SFDRs may initially require financial institutions to change their policy and thus complicate their operations, but later bring only benefits (e.g. transparency). On the other hand, the COVID-19 pandemic is a significant obstacle to the implementation of the sustainable development policy due to countries and entities focused on fighting this threat (including using financial resources). However, it should be mentioned that sustainable development brings long-term effects (including more effective development), thanks to which companies can achieve the desired benefits and overcome the obstacles and crises caused by the pandemic and future crisis.
{"title":"Sustainable Finance – Where we are and how we can go further","authors":"Marika Ziemba","doi":"10.18778/2391-6478.1.37.07","DOIUrl":"https://doi.org/10.18778/2391-6478.1.37.07","url":null,"abstract":"The purpose of the article/hypothesis: The purpose of the paper is to present the historical background of sustainable development and importance of sustainable finance, and to discuss the most important challenges currently facing sustainable finance. The article verifies the research hypothesis: recent changes (implementing of the EBA Action Plan, the Sustainable Finance Disclosure Regulations and facing the COVID-19) in the finance sector can help institutions pursue an effective, sustainable development policy. \u0000Methodology: The article contains an extensive literature review of the sustainable development policy (including legal acts). \u0000Results of the research: Sustainable development in the finance sector plays an important role and is currently facing three main challenges: the implementation of the EBA Action Plan, the Sustainable Finance Disclosure Regulation and COVID-19. The EBA Action Plan and SFDRs may initially require financial institutions to change their policy and thus complicate their operations, but later bring only benefits (e.g. transparency). On the other hand, the COVID-19 pandemic is a significant obstacle to the implementation of the sustainable development policy due to countries and entities focused on fighting this threat (including using financial resources). However, it should be mentioned that sustainable development brings long-term effects (including more effective development), thanks to which companies can achieve the desired benefits and overcome the obstacles and crises caused by the pandemic and future crisis.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78058850","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.18778/2391-6478.1.37.06
Joanna Stępińska
The purpose of the article/hypothesis: The aim of the article is to review and present changes to the consumer bankruptcy law and the implications of these changes for individual debtors. Methodology: The study deals with the effects of bankruptcy proceedings against individual debtors who do not conduct business activity (remission of bankrupt's liabilities, or at least partial repayment of creditors by the debtors) together with the analysis of changes in the law. It will be used to verify the hypothesis that the liberalization of regulations has resulted in an increase in the number of consumer bankruptcy petitions filed, as well as open bankruptcy proceedings conducted against individual debtors. Results of the research: The results of the analysis presented in the paper support the hypothesis that the liberalization of regulations in the area of consumer bankruptcy has resulted in a significant increase in the number of consumer bankruptcy petitions and open bankruptcy proceedings against individual debtors. It seems that as crucial as creating a possibility for the indebted to return to normality in the form of consumer bankruptcy, it is equally important to take care of the sense of equality in this process. It is vital to be aware that consumer debt relief comes at the expense of other market participants – obviously direct creditors but the general public as well.
{"title":"Consequences of Changes in Consumer Bankruptcy Regulations","authors":"Joanna Stępińska","doi":"10.18778/2391-6478.1.37.06","DOIUrl":"https://doi.org/10.18778/2391-6478.1.37.06","url":null,"abstract":"The purpose of the article/hypothesis: The aim of the article is to review and present changes to the consumer bankruptcy law and the implications of these changes for individual debtors. \u0000Methodology: The study deals with the effects of bankruptcy proceedings against individual debtors who do not conduct business activity (remission of bankrupt's liabilities, or at least partial repayment of creditors by the debtors) together with the analysis of changes in the law. It will be used to verify the hypothesis that the liberalization of regulations has resulted in an increase in the number of consumer bankruptcy petitions filed, as well as open bankruptcy proceedings conducted against individual debtors. \u0000Results of the research: The results of the analysis presented in the paper support the hypothesis that the liberalization of regulations in the area of consumer bankruptcy has resulted in a significant increase in the number of consumer bankruptcy petitions and open bankruptcy proceedings against individual debtors. It seems that as crucial as creating a possibility for the indebted to return to normality in the form of consumer bankruptcy, it is equally important to take care of the sense of equality in this process. It is vital to be aware that consumer debt relief comes at the expense of other market participants – obviously direct creditors but the general public as well.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72394254","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.18778/2391-6478.1.37.05
S. Lobozynska, U. Vladychyn, I. Skomorovych
The purpose of the article/hypothesis: Is to identify the peculiarities of Fintech startups activities, to track trends and perspectives of interaction between classic banks and Fintech companies, as well as to research the activities of neobanks and formulate proposals for improving the Fintech ecosystem in Ukraine with the aim of providing quality digital financial services to various categories of consumers. Methodology: Methods of statistical analysis, analogy, synthesis and theoretical generalization were used when researching the materials of specialized analytical agencies, official websites of foreign and domestic banks, state financial strategies and scientific literature. Results of the research: The active growth of a number of Fintech startups in the world and in Ukraine forms a positive dynamic of the digital transformation of the banking sector. The cooperation between banks and Fintechs allows the use new innovative products in banking, such as artificial intelligence, robo-consultation, blockchain, cryptocurrencies, the Internet of Things, virtual and augmented reality. For the further digital transformation of banking in Ukraine the financial market participants must implement international open banking standards and tools for remote identification and verification of clients, actively introduce artificial intelligence and machine learning tools into finance, and develop a Fintech ecosystem.
{"title":"Digital Banking Transformation Through Cooperation with Fintech Startups in Ukraine","authors":"S. Lobozynska, U. Vladychyn, I. Skomorovych","doi":"10.18778/2391-6478.1.37.05","DOIUrl":"https://doi.org/10.18778/2391-6478.1.37.05","url":null,"abstract":"The purpose of the article/hypothesis: Is to identify the peculiarities of Fintech startups activities, to track trends and perspectives of interaction between classic banks and Fintech companies, as well as to research the activities of neobanks and formulate proposals for improving the Fintech ecosystem in Ukraine with the aim of providing quality digital financial services to various categories of consumers. \u0000Methodology: Methods of statistical analysis, analogy, synthesis and theoretical generalization were used when researching the materials of specialized analytical agencies, official websites of foreign and domestic banks, state financial strategies and scientific literature. \u0000Results of the research: The active growth of a number of Fintech startups in the world and in Ukraine forms a positive dynamic of the digital transformation of the banking sector. The cooperation between banks and Fintechs allows the use new innovative products in banking, such as artificial intelligence, robo-consultation, blockchain, cryptocurrencies, the Internet of Things, virtual and augmented reality. For the further digital transformation of banking in Ukraine the financial market participants must implement international open banking standards and tools for remote identification and verification of clients, actively introduce artificial intelligence and machine learning tools into finance, and develop a Fintech ecosystem.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81904213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.18778/2391-6478.1.37.08
E. Yeboah, Dastan Bamwesigye, Seval Ozbalci, Francis Atiso
The purpose of the article/hypothesis: The prime objective of this study is to discover whether external debt and foreign direct investment promote economic development. The paper investigates whether external debt and foreign direct investment inflows stimulate economic growth, intending to determine the causal relationship between the variables to serve as a substantial factor for policymakers. Methodology: Numerous econometrics techniques were employed to ensure the findings' effectiveness and accuracy, including the stationarity test, Johansen cointegration test, and multiple regression (ordinary least squares). The hypothesis test that external debt and foreign direct investment inflows do not attain their justification of ensuring economic growth was conducted empirically. Results of the research: The outcome revealed that external debt and foreign direct investment positively and significantly support Ghana's economic growth. This leads to the conclusion that these variables fulfilled their purpose.
{"title":"Do External Debt and Foreign Direct Investment (FDI) Inflow support Economic Growth? Evidence from Ghana","authors":"E. Yeboah, Dastan Bamwesigye, Seval Ozbalci, Francis Atiso","doi":"10.18778/2391-6478.1.37.08","DOIUrl":"https://doi.org/10.18778/2391-6478.1.37.08","url":null,"abstract":"The purpose of the article/hypothesis: The prime objective of this study is to discover whether external debt and foreign direct investment promote economic development. The paper investigates whether external debt and foreign direct investment inflows stimulate economic growth, intending to determine the causal relationship between the variables to serve as a substantial factor for policymakers.\u0000Methodology: Numerous econometrics techniques were employed to ensure the findings' effectiveness and accuracy, including the stationarity test, Johansen cointegration test, and multiple regression (ordinary least squares). The hypothesis test that external debt and foreign direct investment inflows do not attain their justification of ensuring economic growth was conducted empirically.\u0000Results of the research: The outcome revealed that external debt and foreign direct investment positively and significantly support Ghana's economic growth. This leads to the conclusion that these variables fulfilled their purpose.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74207225","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.18778/2391-6478.1.37.02
B. Krzeczewski
The purpose of the article/hypothesis: The purpose of the article is to identify and assess differences in the financial performance of Polish hospitals according to the type of the founding body. Research hypothesis assumes that the founding body is of great importance for the hospital's financial condition. Methodology: Selected financial ratios illustrating various areas of financial performance of the analyzed units are used in the study. Statistical significance is also verified in terms of differences between the mean values of indicators characterizing the financial performance of hospitals. The study is conducted on the example of public hospitals subordinated to provinces (voivodships) and counties (poviats). Results of the research: The assessment of the financial performance shows that the situation of the provincial hospitals seems to be slightly better than that of the county ones. In addition, the study shows significant differences between the analyzed groups of hospitals within the areas of debt, as well as in the case of cash (immediate) financial liquidity, which allows only to partially accept the research hypothesis. In case of current and quick liquidity, as well as obtained profitability, unambiguous verification of the hypothesis is not possible.
{"title":"Significance of the Founding Body (Ownership Authority) for Financial Performance of Hospitals in Poland – Evidence from County and Provincial Hospitals","authors":"B. Krzeczewski","doi":"10.18778/2391-6478.1.37.02","DOIUrl":"https://doi.org/10.18778/2391-6478.1.37.02","url":null,"abstract":"The purpose of the article/hypothesis: The purpose of the article is to identify and assess differences in the financial performance of Polish hospitals according to the type of the founding body. Research hypothesis assumes that the founding body is of great importance for the hospital's financial condition. \u0000Methodology: Selected financial ratios illustrating various areas of financial performance of the analyzed units are used in the study. Statistical significance is also verified in terms of differences between the mean values of indicators characterizing the financial performance of hospitals. The study is conducted on the example of public hospitals subordinated to provinces (voivodships) and counties (poviats). \u0000Results of the research: The assessment of the financial performance shows that the situation of the provincial hospitals seems to be slightly better than that of the county ones. In addition, the study shows significant differences between the analyzed groups of hospitals within the areas of debt, as well as in the case of cash (immediate) financial liquidity, which allows only to partially accept the research hypothesis. In case of current and quick liquidity, as well as obtained profitability, unambiguous verification of the hypothesis is not possible.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90658498","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.18778/2391-6478.1.37.01
V. Dayan, Monika Bolek, J. E. Trinidad-Segovia
The purpose of the article/hypothesis: The purpose of the article is to analyse the relationship between stock prices of selected companies and COVID-19 cases in those countries where the tourism and banking sectors have a high share of national income, such as Croatia, Italy and Spain. Methodology: The methods used are Breakpoint Unit Root Tests to determine whether a time series is stationary or not, and ARDL cointegration technique for cointegration testing. Results of the research: It was found that the number of COVID-19 cases negatively impacted the tourism and banking market in surveyed EU countries.
{"title":"The Impact of COVID-19 Cases on Stock Prices of Selected Companies Representing Tourism and Banking Sectors","authors":"V. Dayan, Monika Bolek, J. E. Trinidad-Segovia","doi":"10.18778/2391-6478.1.37.01","DOIUrl":"https://doi.org/10.18778/2391-6478.1.37.01","url":null,"abstract":"The purpose of the article/hypothesis: The purpose of the article is to analyse the relationship between stock prices of selected companies and COVID-19 cases in those countries where the tourism and banking sectors have a high share of national income, such as Croatia, Italy and Spain.\u0000Methodology: The methods used are Breakpoint Unit Root Tests to determine whether a time series is stationary or not, and ARDL cointegration technique for cointegration testing.\u0000Results of the research: It was found that the number of COVID-19 cases negatively impacted the tourism and banking market in surveyed EU countries.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74689190","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-30DOI: 10.18778/2391-6478.s2.2022.08
Radosław Witczak
The purpose of this article. The purpose of the paper is to compare and assess provisions on premises for recognizing tax books as kept not compliant to the regulations in the tax law and accountancy law as well as to discuss the possibility of using the tax judgments on this issue in the interpretation of compliant account books in the accountancy law. The research hypothesis is as follows: The tax judgments on the premises for recognizing tax books as kept not compliant may be also used directly for the interpretation of compliancy of account books in the accountancy law. Methodology. The descriptive study including critical attitude to the legal acts and literature was used to solve the research problem. The result of the research. Both the tax law and accountancy law comprise the rules for recognizing tax books (account books) to be compliant to the regulations. The tax law uses the terms of the reliability and correctness. The Accountancy Act law uses the terms of the reliability, error-free, verifiable manner and on an on-going basis. Although definitions of reliability are very similar, as the analysis shows, the character of reliability of tax books is not always the same as for account books. The judgments in the field of interpretation of the reliability for tax purposes may not always be used for accounting purposes. The term correctness in the Tax Ordinance does not always correspond to the terms: error-free, verifiable manner and on an on-going basis in the Accountancy Act. So, the tax judgment concerning correctness of the tax book from the tax law cannot be directly applied into the interpretation of such terms as error-free, verifiable manner and on an on-going basis in the accountancy law. The paper additionally proposes some changes to the tax law concerning the unreliability of tax books, as well as changes to the Accountancy Act.
{"title":"The Comparison of Premises for Recognizing Tax Books as Kept not Compliant in the Tax Law and Accounting Law in Poland","authors":"Radosław Witczak","doi":"10.18778/2391-6478.s2.2022.08","DOIUrl":"https://doi.org/10.18778/2391-6478.s2.2022.08","url":null,"abstract":"The purpose of this article. The purpose of the paper is to compare and assess provisions on premises for recognizing tax books as kept not compliant to the regulations in the tax law and accountancy law as well as to discuss the possibility of using the tax judgments on this issue in the interpretation of compliant account books in the accountancy law. The research hypothesis is as follows: The tax judgments on the premises for recognizing tax books as kept not compliant may be also used directly for the interpretation of compliancy of account books in the accountancy law. \u0000Methodology. The descriptive study including critical attitude to the legal acts and literature was used to solve the research problem. \u0000The result of the research. Both the tax law and accountancy law comprise the rules for recognizing tax books (account books) to be compliant to the regulations. The tax law uses the terms of the reliability and correctness. The Accountancy Act law uses the terms of the reliability, error-free, verifiable manner and on an on-going basis. Although definitions of reliability are very similar, as the analysis shows, the character of reliability of tax books is not always the same as for account books. The judgments in the field of interpretation of the reliability for tax purposes may not always be used for accounting purposes. The term correctness in the Tax Ordinance does not always correspond to the terms: error-free, verifiable manner and on an on-going basis in the Accountancy Act. So, the tax judgment concerning correctness of the tax book from the tax law cannot be directly applied into the interpretation of such terms as error-free, verifiable manner and on an on-going basis in the accountancy law. The paper additionally proposes some changes to the tax law concerning the unreliability of tax books, as well as changes to the Accountancy Act.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74513556","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-30DOI: 10.18778/2391-6478.s2.2022.06
Natalia Ślusarek
The purpose of the article is to present the fraudulent behaviour observable in the financial industry, which is the financial pyramid phenomena, through a detailed description of such occurrences together with the damage and consequences generated. This paper will include a solid piece of knowledge about this behaviour, and will also distinguish the similarities and differences between financial pyramids. Methodology of this paper is the critical analysis of the literature and comparative analysis of selected pyramids according to the criteria to compare and distinguish similarities and differences. Results of the research confirm that the phenomenon of the financial pyramids is very harmful to the financial industry but also to the participants and society as a whole. The losses generate every year are enormous, but on the other hand, there is suffering of the victims as well. To conclude, the financial pyramids are inseparable elements of the financial industry and moreover, they are very dangerous and destructive. The knowledge of the specificity of pyramids increases the safety of financial consumers in the financial market.
{"title":"The Fraudulent Phenomenon of the Financial Pyramids in the Financial Industry","authors":"Natalia Ślusarek","doi":"10.18778/2391-6478.s2.2022.06","DOIUrl":"https://doi.org/10.18778/2391-6478.s2.2022.06","url":null,"abstract":"The purpose of the article is to present the fraudulent behaviour observable in the financial industry, which is the financial pyramid phenomena, through a detailed description of such occurrences together with the damage and consequences generated. This paper will include a solid piece of knowledge about this behaviour, and will also distinguish the similarities and differences between financial pyramids. Methodology of this paper is the critical analysis of the literature and comparative analysis of selected pyramids according to the criteria to compare and distinguish similarities and differences. Results of the research confirm that the phenomenon of the financial pyramids is very harmful to the financial industry but also to the participants and society as a whole. The losses generate every year are enormous, but on the other hand, there is suffering of the victims as well. To conclude, the financial pyramids are inseparable elements of the financial industry and moreover, they are very dangerous and destructive. The knowledge of the specificity of pyramids increases the safety of financial consumers in the financial market.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77359519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-30DOI: 10.18778/2391-6478.s2.2022.07
Arkadiusz Tomaszek
The purpose of this article. The aim of the article is to analyze selected issues related to artificial intelligence and its development, particularly its impact on the financial market, taking into account the opportunities and threats that artificial intelligence and its areas, such as machine learning or deep learning, pose to financial market participants. The research methods utilized in the study were used to evaluate the phenomenon on a macroeconomic scale. Methodology. The results of the research were based on the analysis of secondary data, such as source literature – both domestic and foreign, systems analysis of European Union legal acts, as well as the review of reports on the use of AI within the financial market. The paper is theoretical. The result of the research. The development of artificial intelligence in financial markets may provide an opportunity to gain competitive advantage, especially for financial market participants who aptly implement AI-based solutions in its initial phase. However, this entails both benefits and risks, the possible occurrence of which depends on many other factors.
{"title":"Rozwój sztucznej inteligencji i jej wpływ na rynek finansowy","authors":"Arkadiusz Tomaszek","doi":"10.18778/2391-6478.s2.2022.07","DOIUrl":"https://doi.org/10.18778/2391-6478.s2.2022.07","url":null,"abstract":"The purpose of this article. The aim of the article is to analyze selected issues related to artificial intelligence and its development, particularly its impact on the financial market, taking into account the opportunities and threats that artificial intelligence and its areas, such as machine learning or deep learning, pose to financial market participants. The research methods utilized in the study were used to evaluate the phenomenon on a macroeconomic scale. Methodology. The results of the research were based on the analysis of secondary data, such as source literature – both domestic and foreign, systems analysis of European Union legal acts, as well as the review of reports on the use of AI within the financial market. The paper is theoretical. The result of the research. The development of artificial intelligence in financial markets may provide an opportunity to gain competitive advantage, especially for financial market participants who aptly implement AI-based solutions in its initial phase. However, this entails both benefits and risks, the possible occurrence of which depends on many other factors.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77116392","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-22DOI: 10.18778/2391-6478.s2.2022.03
K. Nowak
Banks, as part of cooperation with insurance companies, offer customers insurances. The of insurance is securing loan repayment. Polish Financial Supervision Authority (KNF) issued a number of reports on this subject. Identified by KNF numerous irregularities and the previous nonregulation resulted in 2014 r. publish Recommendation U. After the Recommendation U the national legislator as a result of the implementation of the directives introduced many significant changes in the area of bancassurance, which fundamentally changed the way banks offer insurance and strengthened the position of consumers. The idea of offering home loans with insurance is currently being realized as part of bundling and in certain situations also in tying practices and the position of the consumer is strengthened for example by information obligations imposed on banks. The main purpose of the article is to present the definition of the concept, forms and the scope of its application by the search banks, causes and consequences of improper bundling and tying practices and to indicate repair solutions. The presented objective of the project fits in with the research gap in the literature on the subject. Currently, there are no studies that would analyze the consequences for consumers of bundling and tying practices insurance with a home loan. Methodology. In theoretical part of the article author used analysis of the literature and a review of legal regularions. In order to determine the nature of irregularities occurring in the process of offering insurance by banks author used analysis how banks offers mortgage credit with insurance. Author also used in the article several examples of complains submitted by consumer to Financial Ombudsman in the years 2017 – 2021. The result of the research. The research allowed to notice current irregularities that may indicate a violation of consumer interests on the bancassurance. The identified irregularities are occuring for example in offering insurance that is unsuited to the client ’ s needs, misleading or concluding a contract basing only verbal information. The mismatch of loan repayment insurance is largely due to deficiencies in the credit process.
{"title":"Nieprawidłowości w sprzedaży łączonej i wiązanej kredytów mieszkaniowych i ubezpieczeń","authors":"K. Nowak","doi":"10.18778/2391-6478.s2.2022.03","DOIUrl":"https://doi.org/10.18778/2391-6478.s2.2022.03","url":null,"abstract":"Banks, as part of cooperation with insurance companies, offer customers insurances. The of insurance is securing loan repayment. Polish Financial Supervision Authority (KNF) issued a number of reports on this subject. Identified by KNF numerous irregularities and the previous nonregulation resulted in 2014 r. publish Recommendation U. After the Recommendation U the national legislator as a result of the implementation of the directives introduced many significant changes in the area of bancassurance, which fundamentally changed the way banks offer insurance and strengthened the position of consumers. The idea of offering home loans with insurance is currently being realized as part of bundling and in certain situations also in tying practices and the position of the consumer is strengthened for example by information obligations imposed on banks. The main purpose of the article is to present the definition of the concept, forms and the scope of its application by the search banks, causes and consequences of improper bundling and tying practices and to indicate repair solutions. The presented objective of the project fits in with the research gap in the literature on the subject. Currently, there are no studies that would analyze the consequences for consumers of bundling and tying practices insurance with a home loan. Methodology. In theoretical part of the article author used analysis of the literature and a review of legal regularions. In order to determine the nature of irregularities occurring in the process of offering insurance by banks author used analysis how banks offers mortgage credit with insurance. Author also used in the article several examples of complains submitted by consumer to Financial Ombudsman in the years 2017 – 2021. The result of the research. The research allowed to notice current irregularities that may indicate a violation of consumer interests on the bancassurance. The identified irregularities are occuring for example in offering insurance that is unsuited to the client ’ s needs, misleading or concluding a contract basing only verbal information. The mismatch of loan repayment insurance is largely due to deficiencies in the credit process.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84863229","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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