Tomasz Potocki

Corporate Social Responsibility in Poland: From Theory to Practice

The following chapter focuses on theoretical and practical aspects of Corporate Responsibility in Poland. It describes the influence of systemic transformation on the definition and perception of CR, the role of social capital in CR’s creation and also main trends in developing the ethical infrastructure in Poland. What is important, the article reviews not only the Polish literature treating on CR in Poland, but also international papers treating on this subject. The practical dimension of the paper takes the form of implications presented in the end.

ART AS AN INVESTMENT IN POLAND - THE FIRST 20 YEARS AFTER THE COLLAPSE OF THE CENTRAL PLANNING ECONOMY

The article aims at answering the following research question: is the Polish art market mature enough to look at art investment as an important element of portfolio diversification? To provide an answer, the Authors analyzed auctions in Poland from the period 1991-2010, which were published by Art&Business magazine. The number of the analyzed records amounted to 28951. The conclusions may be valuable for researchers specializing in art economics, investors dealing with wealth transfer, financial advisors offering financial products as well as for policy makers responsible for providing institutional infrastructure essential for development of the Polish art market.

Financial Capabilities and Poverty Alleviation: The Role of Responsible Financial Decisions

The recent financial crisis has shown a very low level or even lack of financial capabilities in most countries, but especially among low educated, low income and rural regions populations. Developing financial capabilities, which may lead to responsible financial decisions, is a part of growing responsibility of financial sector as well as financial supervision authorities. The topic, which is hotly debated by the World Bank, G20, European Commission, OECD, has also become a vital point of national strategies (i.e. Canada, UK, US, Australia, New Zealand) in the context of poverty alleviation and decreasing income distribution. Moreover, The importance of financial capabilities development is even more important in the face of overwhelming financialization, which led to an enormous increase of complexity of financial products, and showed that financial inclusion may not be the best solution to fight against social exclusion and poverty The article is a part of the discussion focused on CR, especially the so-called CSR 2.0 (see: Visser, The age of responsibility. CSR 2.0 and the new DNA of business, Chichester, Wiley, 2011), with moral philosophy and business ethics as a part of development economics research (compare with, Nussbaum and Sen, The quality of life, Clarendon Press, 1993; Sen, On ethics and economics, Blackwell, 1987, Inequality reexamined, Russell Sage and Harvard University Press, 1992; Development as freedom, Knopf, 1999a; Commodities and capabilities. Oxford India Paperbacks, Oxford University Press, 1999b; Nussbaum, Creating capabilities. The human development approach, The Belknap Press of Harvard University Press, 2011), as well as Ecological Rationality in developing effective decision heuristics (Gigerenzer and Todd, Simple heuristics that make us smart, Oxford University Press, 2000; Gigerenzer et al. Heuristics: The foundations of adaptive behavior, Oxford University Press, 2011; Todd and Gigerenzer, Ecological rationality, Oxford University Press, 2012). In this paper I explore financial capabilities concept, position that in the discussion about responsible financial decisions, explain its important role in poverty alleviation, and present possible institutional approach to financial capabilities building. This approach is based on three key processes’: economic socialization, financial education and financial instruments which are extensively discussed in the chapter. The central point in discussed Institutional approach is heuristics (decision’s rules). Heuristics which are a vital point of ecological rationality approach to effective financial decision building. The analysis carried out by the Author focuses mainly on Poland, however the conclusions may be also of great significance for societies which have recently experienced radical socio-economic transformation.

Poziom wiedzy finansowej wśród osób podatnych na ubóstwo – aspekty metodyczne i wyniki badań własnych

One of the methods which help to decrease the level of vulnerability to poverty and social exclusion is the raise the level of financial literacy among poor households. However, to do this effectively one needs to possess the reliable measurement tool, particularly adopted to intellectual capacities of the poor. Unfortunately there is a lack of such tests available in scientific literature. In the light of the current constraints, in author’s opinion, one needs to construct financial literacy test dedicated to poor using evolutionary approach. That is, the ones which not only tests financial literacy but also numeracy, statistical and risk literacy. In authors opinion, the statistical and risk literacy is much more important and more universal then financial literacy. To prove that point author positively verify following thesis “Risk literacy is effective predictor of financial literacy level, especially among poor and vulnerable to poverty population (exogenously and endogenously)”. The author’s study contribute to dynamically developing, interdisciplinary field of research devoted to household finance, especially to financial decisions under poverty and microeconomics of poverty. The structure of the article support formulated goals. The research method was applied to answer the research questions.