Abstract Referring to economic ideals of efficiency and equity, we are comparing the state of the Swedish economy in the early 21st century to the situation in other countries, especially the other Nordic countries, the United States (US), and Poland. After presenting the basic facts about Nordic countries we examine the issue of economic efficiency. In addition to gross domestic product (GDP) we use the Human Development Index (HDI), the findings of the economics of happiness, and the number of registered triadic patent families as measures of efficiency. Then we analyze the issue of equity. We use the Gini coefficient, the extent of poverty, the level of unemployment, and the level of intergenerational mobility of earnings as measures of equity. The analysis reveals that inhabitants of Sweden and the other Nordic countries have been achieving some of the best economic results in the world. This applies to the level of GDP per capita in these countries, to the capability of inhabitants to utilize their full potential, and to their life satisfaction. These countries’ ability to create innovation is impressive. At the same time, Nordics have successfully reduced the scale of social inequalities and ensured relatively equal opportunities for all citizens. This is evidenced by low income inequality, low unemployment, and low poverty rate in these countries. Sweden and the other Nordic countries are superior to the US both in terms of efficiency and equity. Poland, on the other hand, lags far behind Nordics, as well as the US, in terms of efficiency, as exemplified by the relatively low GDP per capita and very low innovation in Poland. In terms of equity, however, Poland loses to Nordics but seems to win to the US.
{"title":"Efficiency and equity – The Swedish economy in comparison to other countries at the beginning of the 21st century","authors":"Bogusław Czarny, E. Czarny","doi":"10.2478/ijme-2021-0017","DOIUrl":"https://doi.org/10.2478/ijme-2021-0017","url":null,"abstract":"Abstract Referring to economic ideals of efficiency and equity, we are comparing the state of the Swedish economy in the early 21st century to the situation in other countries, especially the other Nordic countries, the United States (US), and Poland. After presenting the basic facts about Nordic countries we examine the issue of economic efficiency. In addition to gross domestic product (GDP) we use the Human Development Index (HDI), the findings of the economics of happiness, and the number of registered triadic patent families as measures of efficiency. Then we analyze the issue of equity. We use the Gini coefficient, the extent of poverty, the level of unemployment, and the level of intergenerational mobility of earnings as measures of equity. The analysis reveals that inhabitants of Sweden and the other Nordic countries have been achieving some of the best economic results in the world. This applies to the level of GDP per capita in these countries, to the capability of inhabitants to utilize their full potential, and to their life satisfaction. These countries’ ability to create innovation is impressive. At the same time, Nordics have successfully reduced the scale of social inequalities and ensured relatively equal opportunities for all citizens. This is evidenced by low income inequality, low unemployment, and low poverty rate in these countries. Sweden and the other Nordic countries are superior to the US both in terms of efficiency and equity. Poland, on the other hand, lags far behind Nordics, as well as the US, in terms of efficiency, as exemplified by the relatively low GDP per capita and very low innovation in Poland. In terms of equity, however, Poland loses to Nordics but seems to win to the US.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88852549","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}
Abstract Financial statements reflect important information about the entity's financial position, operating performance, and cash flows and must be made available in a timely fashion to all interested factions to stimulate opportune business judgments. Ergo, this paper examines the association of the audited annual report delay with eight entity and audit firm attributes. The sample includes 396 observations of 99 nonfinancial firms listed on the Macedonian Stock Exchange (MSE) for the period 2014–2017. The regression results designate a statistically significant relationship between the audit opinion, company liquidity, size, and industry with the audit opinion lag. Moreover, the publication period ranges from 43 days to 374 days suggesting that timeliness may be a significant concern for Macedonian entities regarding financial reporting policy. This is the first study to thoroughly assess the relationship between entity, auditor characteristics, and audit report timeliness on the developing Macedonian market.
{"title":"A study on audit report timeliness: The Macedonian Stock Exchange","authors":"Dusica Stevcevska Srbinoska, Igor Srbinoski","doi":"10.2478/ijme-2021-0015","DOIUrl":"https://doi.org/10.2478/ijme-2021-0015","url":null,"abstract":"Abstract Financial statements reflect important information about the entity's financial position, operating performance, and cash flows and must be made available in a timely fashion to all interested factions to stimulate opportune business judgments. Ergo, this paper examines the association of the audited annual report delay with eight entity and audit firm attributes. The sample includes 396 observations of 99 nonfinancial firms listed on the Macedonian Stock Exchange (MSE) for the period 2014–2017. The regression results designate a statistically significant relationship between the audit opinion, company liquidity, size, and industry with the audit opinion lag. Moreover, the publication period ranges from 43 days to 374 days suggesting that timeliness may be a significant concern for Macedonian entities regarding financial reporting policy. This is the first study to thoroughly assess the relationship between entity, auditor characteristics, and audit report timeliness on the developing Macedonian market.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73795864","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}
Abstract This study aims to define the impact of two largest crises of 1997–1998 and 2007–2008 on changes to the models of corporate governance. In order to achieve the assumed aim, a critical analysis of specialist literature and relevant legal regulations has been applied. The analysis is focused on changes in the main models of corporate governance, namely: in the Anglo-Saxon (monistic) model and in the German (dualistic) model. Generally, they can be defined as of evolutionary nature but some deeper changes have taken place under the influence exerted by the above-mentioned crises. The latter crisis has emphasized the important role of corporate governance in banks and other financial institutions. Changes in corporate governance are largely affected by international institutions or organizations, such as the Organization for Economic Cooperation and Development (OECD) or the European Commission. Their recommendations and guidelines have contributed to the dissemination of so-called good practice codes. The considerations presented below allow the author to state that in both analyzed models of corporate governance, changes occur in the same or similar direction lines (the phenomenon of convergence). It can be also observed that the first analyzed crisis has caused larger changes in the monistic model, whereas the second crisis has affected the dualistic model in a more significant way.
{"title":"The impact of financial crises on changes to the models of corporate governance","authors":"S. Rudolf","doi":"10.2478/ijme-2021-0018","DOIUrl":"https://doi.org/10.2478/ijme-2021-0018","url":null,"abstract":"Abstract This study aims to define the impact of two largest crises of 1997–1998 and 2007–2008 on changes to the models of corporate governance. In order to achieve the assumed aim, a critical analysis of specialist literature and relevant legal regulations has been applied. The analysis is focused on changes in the main models of corporate governance, namely: in the Anglo-Saxon (monistic) model and in the German (dualistic) model. Generally, they can be defined as of evolutionary nature but some deeper changes have taken place under the influence exerted by the above-mentioned crises. The latter crisis has emphasized the important role of corporate governance in banks and other financial institutions. Changes in corporate governance are largely affected by international institutions or organizations, such as the Organization for Economic Cooperation and Development (OECD) or the European Commission. Their recommendations and guidelines have contributed to the dissemination of so-called good practice codes. The considerations presented below allow the author to state that in both analyzed models of corporate governance, changes occur in the same or similar direction lines (the phenomenon of convergence). It can be also observed that the first analyzed crisis has caused larger changes in the monistic model, whereas the second crisis has affected the dualistic model in a more significant way.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80742501","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}
Anna Maria Nikodemska-Wołowik, D. Wach, Katarzyna Andruszkiewicz, Ade Otukoya
Abstract This study aims to identify middle-class consumers’ habits in four countries during the pandemic of 2020, with special attention to analogous consumers’ reactions to extraordinary circumstances during the recession of 2008. Furthermore, this study tried to detect the impact of the pandemic on conscious shopping. Although the consequences of the ongoing pandemic were unforeseeable, the paper opened new avenues for further research on factors responsible for conscious consumption during the unprecedented externality and its significance on the middle-class consumers in culturally diverse markets. To achieve the aforementioned goals, between June and December 2020, computer-assisted web interviews (CAWI) based on pilot stage research were conducted to answer the following questions: How did the pandemic influence the buyers’ shopping habits in terms of conscious consumption? What were the reasons for the changes in shopping habits? What kind of consumer behaviors would middle-class buyers recommend to others? One general conclusion, inter alia, should be stressed remarkably: during the pandemic, irrespective of the cultural differences, the middle-class consumers’ behaviors did not vary significantly with regards to most of the investigated variables.
{"title":"Conscious shopping of middle-class consumers during the pandemic: Exploratory study in Mexico, Nigeria, Poland, and Sri Lanka","authors":"Anna Maria Nikodemska-Wołowik, D. Wach, Katarzyna Andruszkiewicz, Ade Otukoya","doi":"10.2478/ijme-2021-0019","DOIUrl":"https://doi.org/10.2478/ijme-2021-0019","url":null,"abstract":"Abstract This study aims to identify middle-class consumers’ habits in four countries during the pandemic of 2020, with special attention to analogous consumers’ reactions to extraordinary circumstances during the recession of 2008. Furthermore, this study tried to detect the impact of the pandemic on conscious shopping. Although the consequences of the ongoing pandemic were unforeseeable, the paper opened new avenues for further research on factors responsible for conscious consumption during the unprecedented externality and its significance on the middle-class consumers in culturally diverse markets. To achieve the aforementioned goals, between June and December 2020, computer-assisted web interviews (CAWI) based on pilot stage research were conducted to answer the following questions: How did the pandemic influence the buyers’ shopping habits in terms of conscious consumption? What were the reasons for the changes in shopping habits? What kind of consumer behaviors would middle-class buyers recommend to others? One general conclusion, inter alia, should be stressed remarkably: during the pandemic, irrespective of the cultural differences, the middle-class consumers’ behaviors did not vary significantly with regards to most of the investigated variables.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81568812","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}
Abstract This article reviews the use of the concept of political instability in economic research, the importance of which has been growing in recent years due to its potentially profound economic consequences. The article explores this concept by working through the definitions, dimensions, and methods of quantification. It also summarizes the results of the theoretical and empirical research on the economic implications of political instability. In contrast with the previous literature reviews, this article is not limited to the relationship between of political instability and one specific macroeconomic phenomenon but intends to summarize the findings of the research regarding its impact on a variety of economic phenomena investigated in the literature. The review covers the most influential publications in this area characterized by formulation of original research hypotheses, use of novel datasets, and development of innovative research methods. The research reviewed shows that political instability has a detrimental effect on economic growth, investment, inflation, fiscal deficits, public debt, and the functioning of financial markets.
{"title":"The concept of political instability in economic research","authors":"Łukasz Jannils","doi":"10.2478/ijme-2021-0016","DOIUrl":"https://doi.org/10.2478/ijme-2021-0016","url":null,"abstract":"Abstract This article reviews the use of the concept of political instability in economic research, the importance of which has been growing in recent years due to its potentially profound economic consequences. The article explores this concept by working through the definitions, dimensions, and methods of quantification. It also summarizes the results of the theoretical and empirical research on the economic implications of political instability. In contrast with the previous literature reviews, this article is not limited to the relationship between of political instability and one specific macroeconomic phenomenon but intends to summarize the findings of the research regarding its impact on a variety of economic phenomena investigated in the literature. The review covers the most influential publications in this area characterized by formulation of original research hypotheses, use of novel datasets, and development of innovative research methods. The research reviewed shows that political instability has a detrimental effect on economic growth, investment, inflation, fiscal deficits, public debt, and the functioning of financial markets.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88272331","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}
Abstract The paper aims to identify the significant tax barriers to foreign direct investment (FDI) in Poland, in particular in the form of a permanent establishment (PE), in the context of new developments in international tax law. Due to the recommendations of the Base Erosion and Profit Shifting (BEPS) project, launched by Organisation for Economic Co-operation and Development (OECD) to prevent international tax avoidance, the understanding of PE has changed, which could lead to changes in business models. The purpose of the research is also to identify the significant tax barriers to economic activity in Poland, in particular in the form of PE, against the international tax law context. The study conducted by the authors relies on the most current tax rulings and judgments of administrative courts issued between 2017 and 2020. It is concluded that not so much the effective tax burdens but the regulatory ambiguity surrounding the tax obligations may contribute to the reduction of Poland's attractiveness as a location for FDI.
{"title":"Permanent establishment as a foreign direct investment in Poland: identification of tax barriers in the context of new tax development","authors":"M. Jamroży, Magdalena Janiszewska","doi":"10.2478/ijme-2021-0011","DOIUrl":"https://doi.org/10.2478/ijme-2021-0011","url":null,"abstract":"Abstract The paper aims to identify the significant tax barriers to foreign direct investment (FDI) in Poland, in particular in the form of a permanent establishment (PE), in the context of new developments in international tax law. Due to the recommendations of the Base Erosion and Profit Shifting (BEPS) project, launched by Organisation for Economic Co-operation and Development (OECD) to prevent international tax avoidance, the understanding of PE has changed, which could lead to changes in business models. The purpose of the research is also to identify the significant tax barriers to economic activity in Poland, in particular in the form of PE, against the international tax law context. The study conducted by the authors relies on the most current tax rulings and judgments of administrative courts issued between 2017 and 2020. It is concluded that not so much the effective tax burdens but the regulatory ambiguity surrounding the tax obligations may contribute to the reduction of Poland's attractiveness as a location for FDI.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81282096","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}
Abstract The aim of the paper is to analyze the macroeconomic sector of medical tourism and to demonstrate through empirical research the possibilities of using business opportunities for the development of medical tourism in Poland. The thesis is to point out that development of companies in medical tourism is one of the components of metropolises’ sustainable development. Methodology A study with a sample of 214 individuals was conducted in 2018–2019 using the PAPI and CAWI techniques and a survey questionnaire was the research tool. Medical tourism companies located in the voivodship of the Upper Silesia, Warsaw, Cracow, and Szczecin metropolises took party in the study. Participation in the research was determined by the possibility to reach the companies and obtain results. Results The study has shown that development of companies in medical tourism is an inevitable component of metropolises’ sustainable development. It has been demonstrated that a dynamic development of companies occurs in the investigated period, which encourages expansion of medical tourism services among residents of the said metropolises.
{"title":"Sustainable development and management of medical tourism companies in Poland","authors":"A. Wiśniewska","doi":"10.2478/ijme-2021-0010","DOIUrl":"https://doi.org/10.2478/ijme-2021-0010","url":null,"abstract":"Abstract The aim of the paper is to analyze the macroeconomic sector of medical tourism and to demonstrate through empirical research the possibilities of using business opportunities for the development of medical tourism in Poland. The thesis is to point out that development of companies in medical tourism is one of the components of metropolises’ sustainable development. Methodology A study with a sample of 214 individuals was conducted in 2018–2019 using the PAPI and CAWI techniques and a survey questionnaire was the research tool. Medical tourism companies located in the voivodship of the Upper Silesia, Warsaw, Cracow, and Szczecin metropolises took party in the study. Participation in the research was determined by the possibility to reach the companies and obtain results. Results The study has shown that development of companies in medical tourism is an inevitable component of metropolises’ sustainable development. It has been demonstrated that a dynamic development of companies occurs in the investigated period, which encourages expansion of medical tourism services among residents of the said metropolises.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88749430","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}
Abstract The purpose of this paper is to explore the problem of power distribution within networks of relationships between companies and consumers (business-to-consumer (B2C) networks) and to examine the ways in which value is created and captured in such structures. To this end, we applied the network approach to multiple theoretical constructs describing collective consumer phenomena, carried over from the field of sociology to management science. Based on the literature and case study analysis, we managed to define a typology of B2C networks consisting of three types: (1) publics – centered around and dominated by a company, with no relationships between consumers themselves, creating value through crowd-sourcing; (2) communities – also centered around a company, but independent to a degree and more focused on consumer-to-consumer (C2C) relationships, creating value through consumer-managed projects; and (3) tribes – where companies serve only as peripheral actors, and their products – as potential symbols of affiliation, with value being created through creation and reinterpretation of the said products’ meanings (sign value).
{"title":"Power asymmetry and value creation in B2C relationship networks","authors":"Marcin Wieczerzycki","doi":"10.2478/ijme-2021-0006","DOIUrl":"https://doi.org/10.2478/ijme-2021-0006","url":null,"abstract":"Abstract The purpose of this paper is to explore the problem of power distribution within networks of relationships between companies and consumers (business-to-consumer (B2C) networks) and to examine the ways in which value is created and captured in such structures. To this end, we applied the network approach to multiple theoretical constructs describing collective consumer phenomena, carried over from the field of sociology to management science. Based on the literature and case study analysis, we managed to define a typology of B2C networks consisting of three types: (1) publics – centered around and dominated by a company, with no relationships between consumers themselves, creating value through crowd-sourcing; (2) communities – also centered around a company, but independent to a degree and more focused on consumer-to-consumer (C2C) relationships, creating value through consumer-managed projects; and (3) tribes – where companies serve only as peripheral actors, and their products – as potential symbols of affiliation, with value being created through creation and reinterpretation of the said products’ meanings (sign value).","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91322849","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}
Abstract The objective of this paper is to provide insight into the regulatory solutions that refer to the electronic commerce (e-commerce) adopted in the regional trade agreements (RTAs) of the European Union. Our goal is to compare these regulatory measures with the obstacles indicated in the literature as key issues hampering international digital trade. We provide a formal-dogmatic analysis of all of the newly adopted RTAs. The findings resulting from this analysis indicate that even though the regulatory dimension of global economic trade attempts to somehow address the issues resulting from the specific characteristics of the digital economy, the process is still in its infancy. The majority of provisions do not consider the key problems that impede international digital trade. The originality of our work results from its focus on the most recent RTAs, the analysis of which is hardly present in the scholarship.
{"title":"The EU's regional trade agreements: How the EU addresses challenges related to digital transformation","authors":"Magdalena Słok-Wódkowska, J. Mazur","doi":"10.2478/ijme-2021-0009","DOIUrl":"https://doi.org/10.2478/ijme-2021-0009","url":null,"abstract":"Abstract The objective of this paper is to provide insight into the regulatory solutions that refer to the electronic commerce (e-commerce) adopted in the regional trade agreements (RTAs) of the European Union. Our goal is to compare these regulatory measures with the obstacles indicated in the literature as key issues hampering international digital trade. We provide a formal-dogmatic analysis of all of the newly adopted RTAs. The findings resulting from this analysis indicate that even though the regulatory dimension of global economic trade attempts to somehow address the issues resulting from the specific characteristics of the digital economy, the process is still in its infancy. The majority of provisions do not consider the key problems that impede international digital trade. The originality of our work results from its focus on the most recent RTAs, the analysis of which is hardly present in the scholarship.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83653838","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}
Abstract Misselling is the sale of financial services that do not meet the needs of consumers or in the manner or the way they are sold, which is not appropriate to the nature of those services. The first aim of this article is to characterise the misselling phenomenon and present the most important circumstances surrounding its occurrence. The second aim is to examine the level of consumers’ awareness and knowledge of misselling and to show way to protect against misselling, among which the most important postulate is to increase the level of consumers’ financial education. The promotion of financial education could improve consumers’ sense of security, improve the degree of adjustment of financial services to consumer requirements, strengthen the awareness of the assistance that consumers can receive from public institutions and positively contribute to the activity of Poles on the financial market.
{"title":"Misselling consumer awareness study – Circumstances surrounding the occurence of misselling","authors":"C. Martysz, J. Rakowski","doi":"10.2478/ijme-2021-0007","DOIUrl":"https://doi.org/10.2478/ijme-2021-0007","url":null,"abstract":"Abstract Misselling is the sale of financial services that do not meet the needs of consumers or in the manner or the way they are sold, which is not appropriate to the nature of those services. The first aim of this article is to characterise the misselling phenomenon and present the most important circumstances surrounding its occurrence. The second aim is to examine the level of consumers’ awareness and knowledge of misselling and to show way to protect against misselling, among which the most important postulate is to increase the level of consumers’ financial education. The promotion of financial education could improve consumers’ sense of security, improve the degree of adjustment of financial services to consumer requirements, strengthen the awareness of the assistance that consumers can receive from public institutions and positively contribute to the activity of Poles on the financial market.","PeriodicalId":43388,"journal":{"name":"International Journal of Management and Economics","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82296353","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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