Suchergebnisse

Motivation: The growing importance of the corporate social responsibility in the socio-economic sphere means that investors more and more often in their decision-making process include, alongside criteria of the effectiveness of invested capital, factors related to ecology, social development and corporate governance. This leads to diversification of the capital market in which, besides the traditional investing, socially responsible investing is becoming increasingly important.Aim: The aim of the article is to identify the territorial diversification of socially responsible investments in the European Union's capital markets in terms of value and investment strategies used, as well as to show the reasons for this diversity.Results: The conducted analysis showed that more and more investors in the European Union base their decisions not only on financial parameters but also on social and environmental factors. However, this market is not homogenous. This applies to both the value and preferences regarding investments strategy. A significant impact on this diversity has the level of implementation of specific legislative solutions creating favourable conditions for the development of socially responsible investing.

Motivation: The growing importance of the corporate social responsibility in the socio-economic sphere means that investors more and more often in their decision-making process include, alongside criteria of the effectiveness of invested capital, factors related to ecology, social development and corporate governance. This leads to diversification of the capital market in which, besides the traditional investing, socially responsible investing is becoming increasingly important.Aim: The aim of the article is to identify the territorial diversification of socially responsible investments in the European Union's capital markets in terms of value and investment strategies used, as well as to show the reasons for this diversity.Results: The conducted analysis showed that more and more investors in the European Union base their decisions not only on financial parameters but also on social and environmental factors. However, this market is not homogenous. This applies to both the value and preferences regarding investments strategy. A significant impact on this diversity has the level of implementation of specific legislative solutions creating favourable conditions for the development of socially responsible investing.

The development of the concept of corporate social responsibility has become the new and extremely important challenge for accounting. It is necessary that its methods and solutions allow for reflect newer and newer information needs. Because of its systemic character, accounting has to evolve to be able to constitute a basic information system. The development of social accounting is a welcome direction in this regard. It aims to identify measure and present the social and environmental issues related to the functioning of company. The CSR report is a tool for providing information related to corporate social responsibility. It shows the influence of company's activity on various group of stakeholders, by ensuring detailed data about management regarding aspects such as ethics, ecology, diversity in the workplace and community involvement. Instead of preparing corporate social responsibility reports some companies publish integrated reports which present in one document both financial and social issues in a holistic manner. The aim of the article is to present the problem of CSR reporting within the context of social accounting. The main subject of researches is the evaluation of trends associated with the publishing social reports in the national and international context as well as an analysis of the content of reports dealing with corporate social responsibility prepared by selected companies operating in Poland. The article is based on the analysis of Polish and English literature, selected studies and databases connected with the practice of CSR reporting as well as the reports prepared by companies covered by the survey. Results of the research lead to the conclusion that social reporting is a rapidly growing field in both national and international context. This is reflected by the number of reports dealing with corporate social responsibility submitted by companies to a databases connected with the practice of Corporate Social Responsibility reporting. However, the analysis of the content of this type of reports showed that comparison of data contained within documents prepared by individual companies may pose a problem.

Purpose: The broadening of the concept of intellectual capital from the micro level to the macro level presents a challenge for contemporary researchers. No universal definition of national intellectual capital (NIC) or its taxonomy have been developed as yet. This hampers empirical research on measuring NIC resources, thus rendering it difficult to make cross-sectional and temporal comparisons. Therefore, methods are being sought to allow for estimating the volumes of intellectual capital on a macroeconomic level. The purpose of the article is to present an original concept of measuring NIC in the European Union (EU) countries, construct a synthetic measure of NIC on the basis of TOPSIS method, and create a ranking and classification of the EU countries in terms of their NIC resources. Design/Methodology/Approach: The study uses TOPSIS, which is a multi-criteria decision-making method. Findings: The obtained results reveal strong disparities between the EU countries as regards NIC resources. They confirm, moreover, the existence of high intellectual capital resources in the countries of Northern Europe. Practical Implications: The outcomes of the conducted study and its conclusions can be used by decision-makers, both at the EU level and in particular countries. They can also serve as an instrument for bolstering the policies and practices promoting a holistic approach to socio-economic development. Originality/Value: The article contains an original author's concept of measuring NIC resources, which can be applied to cross-sectional and temporal comparisons across EU countries. ; peer-reviewed

Purpose – The aim of the research undertaken in this article is to examine the impact of intellectual capital and its components on the market indicators of pharmaceutical and biotechnological companies listed on the Warsaw Stock Exchange. Research method – The study employed descriptive analysis, desk research analysis, the A-VAIC method (a method for measuring intellectual capital), descriptive statistics and the estimation of a dynamic panel model through multiple regression analysis. Time-lagged variables were used in the panel models. The time range of the study encompasses the years 2015–2022. Results – The conducted research confirmed the impact of intellectual capital on the market indicators of pharmaceutical and biotechnological companies listed on the Warsaw Stock Exchange. However, the influence is not unequivocal, as indicated by the varied influence of its components, such as innovative capital (INVCE) and human capital (HCE), on the indicators of the analyzed companies such as the P/BV ratio and EPS. Originality / value / implications / recommendations – The study used the A-VAIC method (a modification of the classic VAIC™ model) to measure intellectual capital, as well ands applied time lag to verify whether intellectual capital positively affects the future market indicators of pharmaceutical and biotechnology companies listed on the Warsaw Stock Exchange. This study represents an attempt to fill the research gap in studying the relationship between intellectual capital and the market indicators of companies, as this aspect remains under-researched by Polish scholars.