/library/oar/handle/123456789/141436 2025-12-27T02:53:30Z /library/oar/handle/123456789/142309 Title: Monetary policy of the National Bank of Poland in the context of excess liquidity in credit (depository*) institutions in Poland, 2020-2024 Authors: Michalski, Ryszard Abstract: PURPOSE: This paper looks into the ongoing excess liquidity in Poland’s banking system between 2020 and 2024, investigating its causes, repercussions, and the role of monetary policy in influencing it.; DESIGN/METHODOLOGY/APPROACH: The study uses official NBP data and statistical reports and employs the central bank’s own methodology for measuring excess liquidity. It utilizes factor decomposition, reserve-ratio analysis, and year-on-year comparisons to assess the effectiveness of monetary policy tools.; FINDINGS: The study demonstrates that monetary policy in this period was largely ineffective in containing excess liquidity. The tools used by the NBP absorbed liquidity only temporarily, while structural factors allowed the surplus to persist and grow.; PRACTICAL IMPLICATIONS: The results indicate that without significant changes to the structure of the NBP assets and a reassessment of reserve requirements, Poland’s monetary authorities will continue to struggle to reAduce excess liquidity. This will continue to have immediate effects on controlling inflation as well as on monetary transmission.; ORIGINALITY/VALUE: This paper provides a comprehensive account of excess liquidity in Poland’s banking sector during an exceptional period marked by the pandemic and the energy crisis. It highlights the structural weaknesses of current monetary tools and offers insights into possible reforms. 2025-01-01T00:00:00Z /library/oar/handle/123456789/142308 Title: Environmental versus economic effects of inland water freight transport development in the EU Authors: Grzelakowski, Andrzej S. Abstract: PURPOSE: The main aim of the research is to assess the impact of the inland water freight transport development on the EU economy, as well as environment, by comparing it with other modes of transport.; METHODOLOGY: To conduct this data-driven research, the following methods were applied: 1. critical literature analysis, 2 Data mining and analysis, 3. market analysis and 4. comparative analysis.; FINDINGS: The research results indicate that inland water freight transport which share in the EU transport market is already marginal and systematically decreasing, has little importance for the economy of the EU. It plays more significant role for the trasnsport sector and the econom only in a few countries. Simultaneously, this mode of transport generates a relatively low level of GHG emissions. However, this positive feature is losing its importance due to numerous disruptions impacting inland water navigation, lowering its operational potential, caused by unpredictable weather and climatic conditions. As a result, there is a large difference between the economic effects that inland navigation generates for the transport and logistics sector as well as the EU economy on one hand and the regulatory support it receives on the other.; PRACTICAL IMPLICATIONS: The disproportionately low economic and environmental benefits of inland waterway freight development compared to other modes of transport indicate the need to shift some of the forms of support provided to it towards rail and intermodal transport. This would be a more efficient path to a faster energy transformation of the EU transport sector, accelerating at the same time economic and social benefits forEUs economy.; ORIGINALITY/VALUE: This study indicates the need for a significant change in the regulatory system of the EU transport sector. It should be more strongly reoriented towards the implementation of the sustainable development strategy, and not only, as the regulator currently pushes for, the environmental strategy, which is only its segment based on ecological standards. Without making this change and managing it properly, the EU will not only fail to achieve the assumed energy transformation goals in the transport sector, but also, by continuing the current narrow formula for implementing the sustainable development strategy, lead to deep and, in many cases, negative structural changes of an economic and social nature in transport sector. 2025-01-01T00:00:00Z /library/oar/handle/123456789/142307 Title: Air traffic management in Poland in the context of European integration, technological challenges, and market changes Authors: Olszowiec, Paweł; Noworol-Luft, Elżbieta; Luft, Radosław; Wójtowicz, Łukasz Abstract: PURPOSE: This article offers a comprehensive assessment of Air Traffic Management (ATM) in Poland within the context of European integration (SES), technological modernization, and environmental and market pressures. It combines an institutional/regulatory overview with an empirical analysis of Poland’s RP3 performance (2020–2024) and the scale of unmanned operations, aligning findings with the roles of PANSA (PAŻP), NSA (ULC), EUROCONTROL/Network Manager, and ICAO.; DESIGN/METHODOLOGY/APPROACH: Triangulating a doctrinal review of EU/ICAO frameworks with institutional sources and a structured, indicator-based analysis covering en-route traffic (IFR, SU), ATFM delays (en-route and terminal), environmental efficiency (KEP/KES), terminal service units, safety rates (runway incursions; separation minima infringements). Methods include trend and gap analysis versus the national Performance Plan (PP), with a harmonized 2020–2024 window for ATM KPIs.; FINDINGS: Poland’s traffic and service units rebounded after 2020 but remained below PP baselines in 2022–2024, indicating structural/network-driven gaps rather than pure demand shortfalls. En-route ATFM delay peaked in 2022 and then stabilized but stayed above target; terminal arrival delay rose in 2024, largely driven by non-ATC factors. Environmental results were asymmetric: while terminal efficiency improved and ground-side pressure (taxiout) intensified. Safety performance, measured as event rates, was maintained or improved despite higher traffic.; PRACTICAL IMPLICATIONS: Priorities include flexible capacity management (dynamic sector configuration, UDPP) and closer NM coupling; targeted mitigation of airside/apron bottlenecks (A-CDM, ground-planning tools) to convert terminal-area gains into punctuality; continued cross-border FRA maturation alongside ASM/FUA. These actions link policy intent with measurable improvements in delay, predictability, and environmental efficiency.; ORIGINALITY/VALUE: The study integrates Poland’s institutional and technological trajectory with a disciplined, indicator-level reading of RP3 outcomes, connecting network-level constraints to local ground processes and incorporating the emerging drone ecosystem. It delivers decision-oriented evidence suited for regulators, ANSPs, and airport operators seeking SES-consistent performance gains. 2025-01-01T00:00:00Z /library/oar/handle/123456789/142259 Title: Application of taxonomic measures to bankruptcy prediction Authors: Witkowska, Dorota; Socha, Błażej Abstract: PURPOSE: The paper aims to propose new method of bankruptcy prediction. In our research we construct composite measures of financial efficiency using taxonomic distance to the distinguished pattern.; DESIGN/METHODOLOGY/APPROACH: In our study we use the sample of 136 Polish manufacturing non-public companies. Half of them are bankrupts (i.e. filed for bankruptcy with the court in years 2019 – 2022), whereas the rest of them run their business and are companies with a similar amount of assets as bankrupts. Data used in research has been acquired from the Emerging Markets ����������� Service EMIS, which contains financial reports information one year prior to the bankruptcy filing. According to the value of these measures calculated for all analyzed companies they are classified to two classes.; FINDINGS: The study shows that taxonomic measures are useful for predicting corporate bankruptcy. Identifying a grey zone improves classification accuracy within specific clusters, even though it slightly lowers overall model performance. The results also highlight company size—measured by asset value and structure—as a key factor distinguishing bankrupt firms from those that remain solvent.; PRACTICAL IMPLICATIONS: The results of our experiments show that level of recognition of both groups of companies is quite high but it depends on the selected pattern.; ORIGINALITY/VALUE: The study highlights that the taxonomic measures applied are simpler than many other bankruptcy prediction methods, making them more accessible. Their straightforward nature enables use by managers of smaller firms that do not have dedicated financial staff. As a result, these measures offer a practical tool for monitoring bankruptcy risk in resource-constrained organizations. 2025-01-01T00:00:00Z