http://hdl.handle.net/11089/5758 Sun, 05 Apr 2026 21:41:58 GMT 2026-04-05T21:41:58Z http://hdl.handle.net/11089/16040 Wpływ myślenia heurystycznego na efektywność decyzji inwestycyjnych na rynku kapitałowym Kicia, Mariusz Behavioral Finance is now considered as a set of discoveries that explain mechanisms of some simplistic ways of making decisions (heuristics) as well as biases that come up with that process. Financial market investors are also susceptible to those behavioral biases. The article presents how heuristics of anchoring, availability and confirmative thinking may cause mistakes in capital market investment decisions. Theoretical aspects are illustrated by results of experiments that were taken by author with the group of Polish active investors and potential investors that were about to start investing. Tue, 01 Jan 2008 00:00:00 GMT http://hdl.handle.net/11089/16040 2008-01-01T00:00:00Z http://hdl.handle.net/11089/16039 Wybrane formy realizacji zadań przez gminy w ramach partnerstwa publiczno-prywatnego Hajdys, Dagmara The article is about the cooperation between the public and the private sector in the frames of public and private partnership. The act about public and private partnership gives the chance to develop the cooperation between the public and the private sector and to realize a wider range of public services. In the article the selection of forms of cooperation between the public and the private sector, is discussed and there are also indicated merits and defects of the particular forms. Tue, 01 Jan 2008 00:00:00 GMT http://hdl.handle.net/11089/16039 2008-01-01T00:00:00Z http://hdl.handle.net/11089/16038 Problemy oceny efektywności wykorzystania środków samorządowych funduszy ekologicznych na zadania inwestycyjne Burzyńska, Dorota The character of investment tasks for powiat and gmina and also the character of purposeful funds and legal specified directions of their spending point out that using those funds can not have only commercial character. Organizing form of those funds is fundamental element which points out the way and instruments for realization ecological activities. Appraisal of investment efficiency should be complex. Because it is difficult to value financial efficiency and adopt it into acting value of those subjects which do not fulfil only economical criteria or those criteria are fulfiled in only limited range, because they first of all they realize non economic purposes. In the process of spending ecological funds we should improve criteria of economic, ecological and social efficiency, especially in the situation when different sources of financing ecological investment are connected. Tue, 01 Jan 2008 00:00:00 GMT http://hdl.handle.net/11089/16038 2008-01-01T00:00:00Z http://hdl.handle.net/11089/16036 Wzrost roli podatków pośrednich w Polsce Kuzińska, Hanna Fifteen years into its economic transformation, Poland has emerged as the European Union member state with the lowest level of fiscalism (in terms of GNP percentage accounting for taxes and social security contributions). At the same time, Poland is among countries with the highest social security premiums and indirect taxes (VAT and excise tax). If this tax structure in Poland were to be retained, or, worse still, if the tax burden were to be further increased, this could have adverse social and economic consequences. The nature of indirect taxes is such that the less affluent the household, the greater the tax burden on the household’s income. The ever increasing level of indirect taxation results in the least affluent households in Poland having to bear the greatest tax burdens, a fact fully confirmed by studies of household expenditures in the years 1994-1999. Contrary to the popular perception of the role of indirect taxes in economy (and of VAT in particular), this role is not neutral. Accordingly, it is being proposed to gradually lower the basic VAT rate during the next, say, 10 years, from the current 22% to 17%. One result of this move will be improved corporate liquidity, thanks to the “liberation” of part of the taxes due. These “liberated” sums could be used to finance company development or investments. Lowering the basic VAT rate will also boost consumer demand by lowering prices. In turn, the stimulation of consumer demand will improve the fiscal efficiency of VAT, ensuring a stead flow of receipts into the state budget. An urgent problem that requires resolving is the growing volume of tax arrears, especially arrears of indirect taxes. It appears that the development and implementation of a suitable remedial program is called for, considering that tax arrears in 2004 (close to 20 billion PLN) were almost 12 times the figure in 1995. It is also advisable to discover why excise tax on fuels is accounting for a constantly decreasing percentage of total excise tax income in Poland. While income from excise tax on fuels was constantly rising (nominally) in the period from 1994 to 2004, its share in the total income is constantly dwindling, and this despite the healthy GNP growth rate experienced by this country. Tue, 01 Jan 2008 00:00:00 GMT http://hdl.handle.net/11089/16036 2008-01-01T00:00:00Z