Pub Date : 2022-06-20DOI: 10.18778/2391-6478.2.34.02
M. Borys, Joanna Stępińska
Produkty ubezpieczeniowe z UFK funkcjonują w Polsce od lat 90-tych XX wieku. Ich charakterystyczną cechą jest przewaga komponentu inwestycyjnego nad ubezpieczeniowym. Konstrukcja produktów oraz warunki umowy wzbudziły szereg kontrowersji co do uzyskiwanych efektów inwestycji. Autorzy artykułu zbadali, czy i jak wielkość stopy zwrotu z inwestycji w produkt z UFK zależna jest od jego konstrukcji oraz czy większość UFK przypisanych do danego produktu pozwalała na osiągnięcie przez produkt stóp zwrotu (po uwzględnieniu opłat) przewyższających stopę zwrotu z inwestycji wolnej od ryzyka. Produkty ubezpieczeniowe z UFK można podzielić na kilka grup. W artykule analizie poddano reprezentatywne produkty jednej z nich. Obliczono dla nich średnioroczne historyczne stopy zwrotu z przypisanych do tych umów funduszy. Następnie uzyskane wyniki porównano z inwestycją w lokatę bankową. Stwierdzono wpływ konstrukcji umowy na wartość końcową rachunku klienta. Wyniki analizy wskazują, że stopy zwrotu uzyskiwane z badanych produktów były niskie i w większości przypadków nie stanowiły konkurencji do lokat bankowych. Rekompensaty niskiej efektywności tych produktów nie mogła stanowić ochrona ubezpieczeniowa, bo w przypadku tej kategorii produktów ubezpieczeniowych była ona maksymalnie ograniczona.
{"title":"Ubezpieczenia na życie z UFK – analiza efektywności inwestycji","authors":"M. Borys, Joanna Stępińska","doi":"10.18778/2391-6478.2.34.02","DOIUrl":"https://doi.org/10.18778/2391-6478.2.34.02","url":null,"abstract":"Produkty ubezpieczeniowe z UFK funkcjonują w Polsce od lat 90-tych XX wieku. Ich charakterystyczną cechą jest przewaga komponentu inwestycyjnego nad ubezpieczeniowym. Konstrukcja produktów oraz warunki umowy wzbudziły szereg kontrowersji co do uzyskiwanych efektów inwestycji. Autorzy artykułu zbadali, czy i jak wielkość stopy zwrotu z inwestycji w produkt z UFK zależna jest od jego konstrukcji oraz czy większość UFK przypisanych do danego produktu pozwalała na osiągnięcie przez produkt stóp zwrotu (po uwzględnieniu opłat) przewyższających stopę zwrotu z inwestycji wolnej od ryzyka. \u0000Produkty ubezpieczeniowe z UFK można podzielić na kilka grup. W artykule analizie poddano reprezentatywne produkty jednej z nich. Obliczono dla nich średnioroczne historyczne stopy zwrotu z przypisanych do tych umów funduszy. Następnie uzyskane wyniki porównano z inwestycją w lokatę bankową. \u0000Stwierdzono wpływ konstrukcji umowy na wartość końcową rachunku klienta. Wyniki analizy wskazują, że stopy zwrotu uzyskiwane z badanych produktów były niskie i w większości przypadków nie stanowiły konkurencji do lokat bankowych. Rekompensaty niskiej efektywności tych produktów nie mogła stanowić ochrona ubezpieczeniowa, bo w przypadku tej kategorii produktów ubezpieczeniowych była ona maksymalnie ograniczona.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"19 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85208922","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 : 2022-03-30DOI: 10.18778/2391-6478.1.33.02
E. Wierzbicka
{"title":"Seniorzy na rynku usług finansowych","authors":"E. Wierzbicka","doi":"10.18778/2391-6478.1.33.02","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.02","url":null,"abstract":"","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"9 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89563114","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 : 2022-03-30DOI: 10.18778/2391-6478.1.33.09
Aneta Goździńska-Skóra, Wojciech Zatoń
The purpose of the article: General clauses are an important element of the legal system. They supplement the law regulations taking into account moral norms commonly accepted in society. Their general nature means that they are the subject of both discussions in the legal literature and comments and references in court decisions. The specificity of general clauses and the need to precise them in each case in which they are applied, result in a certain unpredictability of judgments. One of the most famous general clauses is the clause of principles of social coexistence. It appeared in the Polish legal system after World War II along with the new political system. It replaced the principle of good manners used in the Second Polish Republic. Since 1990, the return of the name of this principle to the Polish legal system has been visible. On the other hand, in legal regulations relating to the capital market, the clause of the principles of fair trade is used. It can be considered that the nature of the three clauses mentioned above is similar. The aim of the article is to analyze the nature and similarity of these general clauses with particular emphasis on the clause of the principles of fair trade in the capital market. Methodology: The study is theoretical and empirical in nature. The theoretical part was based on a review of the literature. The empirical part is realized by the analysis of the court decisions. Results of the research: The results show that the finding by the Polish Financial Supervision Authority a violation of the principles of fair trade as a basis for imposing administrative sanctions should be supported by a reference to the specific standard of conduct and be precisely described. It cannot be defined in general terms only. Otherwise, it may be effectively challenged by way of a complaint to an administrative court. On the other hand, in court judgments, in cases referring to the principles of social coexistence (the principles of fair trade), discrepancies in application can be noticed resulting from the specificity of general clauses.
{"title":"Zasady uczciwego obrotu w teorii i praktyce","authors":"Aneta Goździńska-Skóra, Wojciech Zatoń","doi":"10.18778/2391-6478.1.33.09","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.09","url":null,"abstract":"The purpose of the article: General clauses are an important element of the legal system. They supplement the law regulations taking into account moral norms commonly accepted in society. Their general nature means that they are the subject of both discussions in the legal literature and comments and references in court decisions. The specificity of general clauses and the need to precise them in each case in which they are applied, result in a certain unpredictability of judgments. One of the most famous general clauses is the clause of principles of social coexistence. It appeared in the Polish legal system after World War II along with the new political system. It replaced the principle of good manners used in the Second Polish Republic. Since 1990, the return of the name of this principle to the Polish legal system has been visible. On the other hand, in legal regulations relating to the capital market, the clause of the principles of fair trade is used. It can be considered that the nature of the three clauses mentioned above is similar. The aim of the article is to analyze the nature and similarity of these general clauses with particular emphasis on the clause of the principles of fair trade in the capital market. Methodology: The study is theoretical and empirical in nature. The theoretical part was based on a review of the literature. The empirical part is realized by the analysis of the court decisions. Results of the research: The results show that the finding by the Polish Financial Supervision Authority a violation of the principles of fair trade as a basis for imposing administrative sanctions should be supported by a reference to the specific standard of conduct and be precisely described. It cannot be defined in general terms only. Otherwise, it may be effectively challenged by way of a complaint to an administrative court. On the other hand, in court judgments, in cases referring to the principles of social coexistence (the principles of fair trade), discrepancies in application can be noticed resulting from the specificity of general clauses.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"84 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87558990","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 : 2022-03-30DOI: 10.18778/2391-6478.1.33.07
M. Nowakowski, Krzysztof Waliszewski
{"title":"Sztuczna inteligencja w problematyce modeli oceny ryzyka w instytucjach finansowych z perspektywy prawno-regulacyjnej","authors":"M. Nowakowski, Krzysztof Waliszewski","doi":"10.18778/2391-6478.1.33.07","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.07","url":null,"abstract":"","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"15 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77831926","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 : 2022-03-30DOI: 10.18778/2391-6478.1.33.08
Ł. Kozar
The purpose of the article/hypothesis: The main objective of the article is to present the directions of pro-environmental activities undertaken by institutions from the financial sector operating in Poland and their significance for green transformation of the economy. In turn, an additional aim of the analysis undertaken is to show whether financial institutions have instruments that are typical for them, but at the same time are aimed directly at the process of greening the economy. Methodology: The study is of a theoretical and analytical character. In addition to a review of available domestic and foreign literature on the subject, selected good environmental practices implemented in financial sector institutions in Poland in 2016–2020 were analysed. Qualitative data analysis (content analysis of good practices) was applied. Results of the research: 94 good environmental practices from 24 financial sector institutions were analysed. Different subject and object orientations of the good practices were observed. It was found that through the implementation of environmental activities, financial institutions can build a positive image in their surroundings. In terms of issues related to green transformation, a special role was assigned to banks, which can offer green banking products. Products of this type are directly aimed at supporting investments whose role is to change the existing way of economy to a more sustainable one.
{"title":"The Financial Sector and Sustainable Development - A Review of Selected Environmental Practices Implemented in Financial Institutions Operating in Poland Between 2016 and 2020","authors":"Ł. Kozar","doi":"10.18778/2391-6478.1.33.08","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.08","url":null,"abstract":"The purpose of the article/hypothesis: The main objective of the article is to present the directions of pro-environmental activities undertaken by institutions from the financial sector operating in Poland and their significance for green transformation of the economy. In turn, an additional aim of the analysis undertaken is to show whether financial institutions have instruments that are typical for them, but at the same time are aimed directly at the process of greening the economy. \u0000Methodology: The study is of a theoretical and analytical character. In addition to a review of available domestic and foreign literature on the subject, selected good environmental practices implemented in financial sector institutions in Poland in 2016–2020 were analysed. Qualitative data analysis (content analysis of good practices) was applied. \u0000Results of the research: 94 good environmental practices from 24 financial sector institutions were analysed. Different subject and object orientations of the good practices were observed. It was found that through the implementation of environmental activities, financial institutions can build a positive image in their surroundings. In terms of issues related to green transformation, a special role was assigned to banks, which can offer green banking products. Products of this type are directly aimed at supporting investments whose role is to change the existing way of economy to a more sustainable one.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"368 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82739957","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 : 2022-03-25DOI: 10.18778/2391-6478.1.33.06
Joanna Cichorska, M. Czech, Blandyna Puszer
{"title":"Depozyty bankowe gospodarstw domowych w czasie COVID-19 w krajach Grupy Wyszehradzkiej","authors":"Joanna Cichorska, M. Czech, Blandyna Puszer","doi":"10.18778/2391-6478.1.33.06","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.06","url":null,"abstract":"","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77590507","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 : 2022-03-25DOI: 10.18778/2391-6478.1.33.03
A. Kiciński
{"title":"Ochrona konsumentów usług finansowych w Polsce. Efektywność systemu i perspektywy rozwoju","authors":"A. Kiciński","doi":"10.18778/2391-6478.1.33.03","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.03","url":null,"abstract":"","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"518 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77170971","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 : 2022-03-25DOI: 10.18778/2391-6478.1.33.01
Marcin Tuszkiewicz
{"title":"Wpływ pandemii COVID-19 na płynność akcji notowanych na Giełdzie Papierów Wartościowych w Warszawie","authors":"Marcin Tuszkiewicz","doi":"10.18778/2391-6478.1.33.01","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.01","url":null,"abstract":"","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"402 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82857721","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 : 2022-03-25DOI: 10.18778/2391-6478.1.33.05
M. Kałuska
{"title":"Ubezpieczenia na życie z ubezpieczeniowym funduszem kapitałowym – analiza porównawcza wybranych ofert","authors":"M. Kałuska","doi":"10.18778/2391-6478.1.33.05","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.05","url":null,"abstract":"","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"119 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77401723","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 : 2022-03-25DOI: 10.18778/2391-6478.1.33.04
P. Trippner, Rafał Jóźwicki
The aim of the study is to present the meaning, structure and principles of financing higher education in Poland. The division into public and non-public higher education is presented and the authors focused on the sources of financing non-public higher education, which does not benefit from budget subsidies. The most important sources of financing activities of non-public higher education were indicated. Another objective of the paper is to characterize the role, essence and importance of the financial controlling department in the management of economic entities including non-public higher education institutions. The authors’ interests is also focused on financial documents, which provide data to evaluate the financial situation of an economic entity as well as financial measures used during the analysis. Finally, an assessment of the level of profitability of a non-public higher education institution is made with a detailed division into full-time, extramural and postgraduate studies. The revenue structure of the studied entity was also compared to the market of non-public higher education institutions in Poland. The essence of functioning of the financial controlling department in a company and the tasks and role of a financial controller are additionally presented in the paper. The methodology used in the submitted article is a financial analysis of non-public university’s financial statement based on profitability ratios. The article deals with the occasional subject of evaluation of non-public university functioning by the Financial Controlling Department in terms of income generated, costs incurred and profitability level achieved. The functioning of higher education in Poland should be divided into two areas: state universities, which benefit from budget subsidies for students studying on a full-time basis, and non-public higher education institutions, which may or may not benefit from such subsidies. Their primary source of income is fees paid by students in various forms, mainly in the form of tuition fees. Non-public sector of higher education in Poland doesn’t use public budget grants so the importance of Financial Controlling Departments is essential in calculating incomes and costs. The data used in the analyses came from a private institution in the higher education sector. The owner of the company did not agree to provide its name and the detailed figures based on which the financial ratios were calculated.
{"title":"The essence, methods and results of assessing profitability of a non-public university","authors":"P. Trippner, Rafał Jóźwicki","doi":"10.18778/2391-6478.1.33.04","DOIUrl":"https://doi.org/10.18778/2391-6478.1.33.04","url":null,"abstract":"The aim of the study is to present the meaning, structure and principles of financing higher education in Poland. The division into public and non-public higher education is presented and the authors focused on the sources of financing non-public higher education, which does not benefit from budget subsidies. The most important sources of financing activities of non-public higher education were indicated. Another objective of the paper is to characterize the role, essence and importance of the financial controlling department in the management of economic entities including non-public higher education institutions. The authors’ interests is also focused on financial documents, which provide data to evaluate the financial situation of an economic entity as well as financial measures used during the analysis. Finally, an assessment of the level of profitability of a non-public higher education institution is made with a detailed division into full-time, extramural and postgraduate studies. The revenue structure of the studied entity was also compared to the market of non-public higher education institutions in Poland. \u0000The essence of functioning of the financial controlling department in a company and the tasks and role of a financial controller are additionally presented in the paper. The methodology used in the submitted article is a financial analysis of non-public university’s financial statement based on profitability ratios. The article deals with the occasional subject of evaluation of non-public university functioning by the Financial Controlling Department in terms of income generated, costs incurred and profitability level achieved. \u0000The functioning of higher education in Poland should be divided into two areas: state universities, which benefit from budget subsidies for students studying on a full-time basis, and non-public higher education institutions, which may or may not benefit from such subsidies. Their primary source of income is fees paid by students in various forms, mainly in the form of tuition fees. Non-public sector of higher education in Poland doesn’t use public budget grants so the importance of Financial Controlling Departments is essential in calculating incomes and costs. The data used in the analyses came from a private institution in the higher education sector. The owner of the company did not agree to provide its name and the detailed figures based on which the financial ratios were calculated.","PeriodicalId":34805,"journal":{"name":"Finanse i Prawo Finansowe","volume":"31 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80013505","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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