Dear Reader,
We present you with the 39th edition of the Journal of Management and Financial Sciences.
This edition is devoted, among others, to accounting and Catholic social teaching, issues related to automiation in financial trading companies and problems concerning traditional budgeting prosess. The articles contained in the current issue were written by representatives of leading academic centres from Poland. They constitute the result of theoretical studies, deeply embedded in empirical research of the Polish, European and world economy.
Research interests of the author of the first article, Rafał Grabowski, focus on account- ing and Catholic social teaching. This paper is motivated by the wish to launch research into these areas by raising the question featuring in the title about the feasibility of interdiscipli- nary studies covering the above-mentioned fields of research, i.e., accounting and Catholic social teaching. However, it needs to be stressed that it just delineates a context for a wider and in-depth discussion that can be continued.
Adam Koronowski in his paper analyses possible policy and institutional responses to under- consumption (deficient consumption spending that leads to depressed economic activity).
The aim of the next article by Carlos Jorge Lenczewski Martins is, through a literature review, to present the main issues concerning automation in financial trading companies, and how the highly probable introduction of the Blockchain technology may affect HFT
and the financial market - either the generał market design, or specifically, how trading is performed.
Marcin Będzieszak aims to assess if large Polish cities use fees and user charges to sub- stitute other own-source revenues. The analysis was conducted on a panel of 65 large cities in Poland in the period of 2004-2015.
Krzysztof Marecki and Maciej Wieloch wonder whether the traditional budgeting pro- cess should be completely abandoned. A postulate appears that budgeting in the form it is currently in use should be abolished.
The purpose of the next paper by Marzenna Dębowska-Mróz, Ewa Ferensztajn-Galardos, Renata Krajewska and Andrzej Rogowski is to present the results of research on the intensity of pedestrian traffic at interchanges as a function of time in the city of Radom.
The last paper by Jarosław Trwoga explores how Bank Gospodarstwa Krajowego in its capacity of a state development bank funding the expansion of Polish business to other countries, i.e., exports and foreign direct investment projects carried out by Polish businesses or their foreign affiliates. Author’s considerations focus on instruments offered by the BGK, which provide direct financing, such as loans to foreign buyers and investment loans dedicated to projects carried out in other countries.
We hope that these articles will present a contribution to the development of economic thought and to a fuller understanding of the complex issues.
We wish you pleasant reading.
Ryszard Bartkowiak,
Chairman of the Scientific Council and Dean of the Faculty
Michał Matusewicz,
Vice-Chairman of the Scientific Council and Vice-Dean of the Faculty