{"title":"CSR activity configuration and the prioritizing of stakeholder claims: A multi-firm, multi-sector study","authors":"Alexandros G. Sahinidis, Alina Hyz","doi":"10.24136/ceref.2018.018","DOIUrl":"https://doi.org/10.24136/ceref.2018.018","url":null,"abstract":"The purpose of this study is to identify the patterns of Corporate Social Responsibility (CSR) activities, in adverse economic circumstances, so as to understand the importance ascribed by the companies to each of their stakeholders. Prior research on stakeholder salience has looked into various issues related to the relative attention given to corporate stakeholders by management, however, none has examined what this relationship looks like following a prolonged economic crisis. We investigate the activities of CSR in Greece, examining how companies spend their CSR resources in a depressed economy, studying the respective activity patterns of the companies listed on the Athens Stock Exchange (ASE). Content analysis is used, thoroughly examining all public data available on the internet from 175 companies. The study includes data reported in 2014, collected at the end of 2015. Our results demonstrate that, the most popular CSR activities related to the human resources and the least practiced were the society and environment related ones. The findings show concern for the employees of the companies and their morale, superseding the interest for the other stakeholder categories in spite of the crisis and the soaring unemployment rate. Moreover, a significant divergence emerged between the CSR programs of the various industries. This indicates that for reasons unbeknownst to us, companies are placing less emphasis on consumers, environment and the society and tend to cater to the needs of their internal constituents.","PeriodicalId":152320,"journal":{"name":"Central European Review of Economics & Finance","volume":"71 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115638193","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}
{"title":"The evaluation of the system of financing the integration courses in Germany","authors":"N. Zając","doi":"10.24136/CEREF.2018.020","DOIUrl":"https://doi.org/10.24136/CEREF.2018.020","url":null,"abstract":"Persons intending to live in Germany should have a certain knowledge of the German language and about the country in general. Foreigners may acquire the necessary skills and knowledge by participating in integration courses. They are financed by the state as well as by the immigrants themselves. The aim of the article is to evaluate the system of financing such courses that was adopted in Germany. As part of the justification for selecting this particular topic it is worth mentioning that there are no analyses on this subject available in the source literature. Furthermore, also the geopolitical situation in the world and the influx of refugees in Europe (including Germany) that results from it serve to prove just how current and important with regard to cost economics the issue of financing immigrant integration actually is. The analysis has been carried out on the basis of German legal acts and the financial data obtained from the Federal Statistical Office and the Federal Office for Migration and Refugees. The article covers the period January 2017 – July 2018 and is based on the method of document analysis.","PeriodicalId":152320,"journal":{"name":"Central European Review of Economics & Finance","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114296901","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}
{"title":"Cultural Determinants and Perspectives of International Expansion of Enterprises from Economies in Transition","authors":"R. Gowers, A. Pająk, Edgar Klusa","doi":"10.24136/CEREF.2018.013","DOIUrl":"https://doi.org/10.24136/CEREF.2018.013","url":null,"abstract":"Within this article the authors attempt identify and analyze the key cultural success factors for companies when developing strategies to move out of their home market. Such strategies can often involve significant cost and risk. However, many companies fail due to overlooking the cultural aspects of entering new arenas. The approach used in the article analyzes culture in the wider perspective, from the individual to the national dimensions, looking for the important roots in the historical and institutional backgrounds that need to be considered when developing strategies. A focus on Polish companies is then developed. Poland, representing a post-transition economy, is an interesting case study in the context of cultural and social factors in internationalization, especially in the light of important ongoing transitions on the global scene.","PeriodicalId":152320,"journal":{"name":"Central European Review of Economics & Finance","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123823407","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}
{"title":"An Estimate of the Impacts of the Bank of England’s Quantitative Easing Programme on UK Economic Growth","authors":"Sławomir I. Bukowski, R. Gowers","doi":"10.24136/CEREF.2018.015","DOIUrl":"https://doi.org/10.24136/CEREF.2018.015","url":null,"abstract":"This paper reviews the reasons for and impacts of quantitative easing by the Bank of England. It analyses the macroeconomic impacts of this policy tool on the UK economy across the period 2008-16. It compares the impacts of each round of quantitative easing to assess how the impacts changed over time. The authors implemented econometric analysis based on the VAR model. This analysis indicated that the Bank of England’s monetary policy influenced GDP growth by a relatively small degree during the period studied. The impact of changes in the monetary base (M3) explained a bigger part of GDP growth than the decreases in interest rates and exchange rates. Over time the impact of this policy response diminished.","PeriodicalId":152320,"journal":{"name":"Central European Review of Economics & Finance","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114226456","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}
{"title":"Foreign Currency Loans and Stability of the Banking System in Poland","authors":"G. Olszewska","doi":"10.24136/CEREF.2018.016","DOIUrl":"https://doi.org/10.24136/CEREF.2018.016","url":null,"abstract":"The aim of the study was to answer the question whether and to what extent foreign currency loans may pose a threat to the stability of the banking system in Poland. The reason for exploring this problem is the situation in which Swiss franc mortgage loan parties found themselves. The problem concerned not only Poland, but also appeared in Hungary, Spain and Ukraine. The aforementioned countries have adopted various strategies in order to solve this issue. Currently, there is a discussion in Poland over the form of solution to the situation in which the Swiss franc debtors have found themselves. This article presents the following hypotheses: (1) The credit policy of banks, which includes mortgage lending in Swiss francs, was a typical action in terms of risk management which in this case was two-way in nature. In addition, banks did not have the opportunity to significantly impose its policies on customers, as evidenced by the degree of market development and market competition. (2) Conversion of mortgage loans according to the CHF historic exchange rate can affect the stability of the banking system. The article presents the main types and sources of bank risks with particular emphasis on credit risk and foreign exchange risk. In addition, the paper shows the importance of this kind of risk in the context of the systemic stability of the banking sector in a situation of exchange rate stability disturbances. Verification of the research hypothesis was based on literature studies and analysis of statistical data.","PeriodicalId":152320,"journal":{"name":"Central European Review of Economics & Finance","volume":"192 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122356377","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}
{"title":"CSR in automotive sector - leaders or deceivers? The case of Audi AG","authors":"Mateusz Kurowski, K. Witkowski, Dariusz Lesicki","doi":"10.24136/CEREF.2018.012","DOIUrl":"https://doi.org/10.24136/CEREF.2018.012","url":null,"abstract":"Car production is a kind of activity that affects environment, society and global economy to a large degree. The most negative impact can be observed in the first of mentioned fields. Every day automotive companies consume big amount of energy and resources. What is more, their final products are considered as one of the main pollution sources. Nevertheless many car producers made effort to minimize negative external effects of their businesses. Year by year various CSR classifications and rankings showed that those efforts were resultful but Volkswagen emissions scandal and anti-diesel lobby shed new light on car industry in the terms of CSR. The aim of the article is to review CSR activities undertaken by Audi AG. Literature review and report analysis performed within the case study shows that the company is active in the field of ecology, society and corporate governance. In many terms Audi AG can be considered as the one of global CSR leaders. It is characterized by wide range of long term initiatives, high employee satisfaction and constant dialogue with stakeholders. On the other hand Audi AG can not be seen as a responsible company in the light of misleading customers to raise sales volume.","PeriodicalId":152320,"journal":{"name":"Central European Review of Economics & Finance","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128643996","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}
{"title":"Cluster Initiatives as Means to Improve the Effectiveness of Revitalisation of the Old Town Urban Units","authors":"Andrzej Gumieniczek","doi":"10.24136/CEREF.2018.017","DOIUrl":"https://doi.org/10.24136/CEREF.2018.017","url":null,"abstract":"The paper aims to indicate the possibility of implementation of innovative cluster initiatives in the process of revitalisation of the old town urban units. The article attempts to gather the most important aspects of a model cluster project aimed at the revitalisation of historic urban area. Reality of revitalisation and its effectiveness, as well as the use of the social, economic and cultural potential of historic urban units were illustrated by the example of revitalisation of Old Tow in Lublin. It is proposed to change the approach towards the problems that the revitalisation of the old town units causes and emphasise the cluster initiatives which can accelerate the process of revitalisation and improve its effectiveness. In addition, the possibility of deviation from the plan which utilises the funds received from the municipality and the EU “aid” funds as entire funding sources was proposed.","PeriodicalId":152320,"journal":{"name":"Central European Review of Economics & Finance","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131174799","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}