<abstract xmlns="http://www.w3.org/1999/xhtml">

This paper highlights the globally-important determinants of financial inclusion. The determi-nants identified in this paper are formal account ownership; demand for formal savings; demand for formal borrowing; financial literacy and education; debit and credit card usage; the need to receive remittances from family and friends; size of the financial system; number of automated teller machines (ATMs); number of bank branches; proximity to a bank; availability and access to mobile phones; availability of digital financial products and services; technology infrastructure; government policy; culture and traditional belief systems; national financial inclusion strategy and implementation; and direct legislation.
</abstract>

Financial Inclusion: Globally Important Determinants

<abstract xmlns="http://www.w3.org/1999/xhtml">

SMEs have received much recognition as they continue to be the backbone in the development and economic growth of nations. This study intended to investigate how the entrepreneurial orientation moderates the relationship between the utilization of the financial support services and the firm’s performance. This study used Structural Equation Modeling to evaluate the impact of financial support services on SME performance. The sample for this study involved SMEs in Malaysia. The result indicates that financial support services significantly associated with the firms’ performance and entrepreneurial orientation failed to influence significantly the relationship between the usage of the services and the performance. The findings of this study could be useful for the government business support services providers to enhance further the quality of services and will provide an understanding of how effectively the characteristics of SMEs related to entrepreneurial orientation would help increase the effectiveness of the support services.
</abstract>

Universiti Teknologi Mara (Sarawak Branch)

Usage of Public Financial Support Services, Entrepreneurial Orientation and Sme Performance: the Case of Malaysia

<abstract xmlns="http://www.w3.org/1999/xhtml">

It is quite common that the structure of a time series changes abruptly. Identifying these change points and describing the model structure in the segments between these change points is an important task in financial time series analysis. Change point detection is the identification of abrupt changes in the generative parameters of sequential data. In application areas such as finance, online rather than offline detection of change points in time series is mostly required, due to their use in predictive tasks, possibly embedded in automatic trading systems. However, the complex structure of the data generation processes makes this a challenging endeavor. This paper is concerned with online change point detection in financial time series using the Bayesian setting. To this end, the Bayesian posterior probability of change at a specific time is proposed and some procedures are presented for selecting the priors and estimation of parameters. Applications in simulated financial time series are given. Finally, conclusions are proposed.
</abstract>

Bayesian Online Change Point Detection in Finance

<abstract xmlns="http://www.w3.org/1999/xhtml">

An administrative fine is a monetary penalty that may be imposed by a supervisory authoritity as an administrative punishment. Such a fine adversely interferes in the cash flow generation of the company in question. The fine can be described as an investment carrying opportunity costs with no economic returns. However, according to the judgment of the Constitutional Court of the Czech Republic Pl. ÚS 3/02 of 13 August 2002 it is submitted that the fine cannot be imposed in such an amount that would ultimately be liquidating for the sanctioned entrepreneur. The assessment of whether the specific amount of the fine imposed represents such an intensive interference with the entrepreneur's property that his business activity becomes pointless (i.e., in the long run only for the payment of a fine) is elaborated in this article. Based on a case study from the Czech Republic, this article deals with an example of a suitable methodological procedure, on the basis of which it is possible to evaluate the impact of a specific amount of fine imposed on the property of a sanctioned entrepreneur and assess ex ante whether (i) continuity of his business will be interrupted in the future, i.e., when, as a result of the payment of the fine, he eventually goes bankrupt in the form of insolvency or over-indebtedness and / or (ii) his business activity will only serve to pay the fine and thus become "pointless". The presented economic narrative and methodology are relevant for policy makers and, particularly, for supervisory authorities imposing the fines or assessing the requests for remission.
</abstract>

Measuring The Impact of an Administrative Fine on a Company And Its Future Survival: a Case Study From The Czech Republic

<abstract xmlns="http://www.w3.org/1999/xhtml">

This study analyses theoretical aspects of bankruptcy and financial analysis. Analysis of bankrupt cy diagnostics is the most important condition for successful company management since the results of economic activity depend on the availability and efficiency of the use of financial resources. The study of the institution of bankruptcy is essential for high-quality business conduct. Thus, as a practical part this study implemented analyses of financial condition and bankruptcy likelihood in aviation on the example of one of the biggest airlines – PJSC Aeroflot. Research resulted in findings confirming the instability of the company’s financial condition and downward trend on the Z index related to decrease in demand, mostly due to the pandemic of COVID-19.
</abstract>

Student at the University of Information Technology and Management in Rzeszów

Financial Condition and Bankruptcy Likelihood in Aviation on the Example of the Aeroflot Company

<abstract xmlns="http://www.w3.org/1999/xhtml">

The article discusses the alternatives for financial institutions related to global business reshaping after pandemic waves during post-quarantine economic recovery. To select the most acceptable variant of business hybridization, the theory of generations was used, which allows us to determine the value orientation of different age group representatives and impose it on the financial institutions’ human resource policy during the transition to a hybrid form of business organization. On the basis of the integral spiral dynamics theory, a theoretical assessment of the correspondence of the corporate culture of organizations of different types to the options for the transition to a hybrid business is given. Various models of hybrid organizations in the financial sector have been developed and presented and their degree of compliance with the level of business development in Ukraine has been assessed. Sociometric analysis done on the representative sample in the well-developed business center of Ukraine reveals the possible approaches to the hybridization in the financial sphere with regards to age distribution of employees.
</abstract>

Business Hybridization in the Financial Sphere Under the Conditions of Po St-Quarantine Economic Recovery

<abstract xmlns="http://www.w3.org/1999/xhtml">

The supplementary old-age pension system in Poland consists of group and individual plans. This research covers the latter, namely the individual retirement accounts and individual retirement security accounts that were introduced in 2004 and 2012 respectively. The main aim of the paper is to conduct a multidimensional comparative analysis of bank retirement products including the linguistic complexity of documents creating the retirement contracts offered to individuals by banks, and the costliness and profitability of such products in the period 2012-2019. Moreover, it identifies the dependencies between the linguistic and economic traits of retirement contracts offered by banks. The correlation analysis conducted using the Spearman’s rank correlation coefficient showed that the more readable a document of a bank contract is, the higher the interest rate is and the higher the cancellation fees. The results of the study are relevant for both financial institutions and public bodies as they show the key characteristics that may influence the demand for individual retirement products in Poland and may serve as either a stimulator or a barrier in the development of supplementary old-age pension provision.
</abstract>

This research was funded by the National Science Centre in Poland, under the grant entitled “Readability, transparency and efficiency of individual pension products”

SGH Warsaw School of Economics, Institute of Statistics and Demography

Individual Pension Products Offered by Banks in Poland - a Multidimensional Comparative Analysis

<abstract xmlns="http://www.w3.org/1999/xhtml">

The phenomenon of entrepreneurship has various perspectives – economic, financial, social, and psychological. The aim of this paper is to present entrepreneurship from a perspective merging both financial and non-financial aspects of this phenomenon. The article presents two (complementary) aspects related to the phenomenon of entrepreneurship. One of the aspects described by author is the availability of financing for businesses in Poland (showing the issue in response to the most important obstacle to running a business), the other is shaping entrepreneurial attitudes. The section on sources of financing give an answer to the question of whether (and if so - to what extent) the problem of access to financing is a real barrier to starting a business in Poland. Presenting the perspective of students gives a new view on the subject and enables us to recognize factors that determine the decision to start a business among young people, knowledge of which may contribute to a change in attitudes towards setting up a business in Poland. Among the conclusions, the author mentions, inter alia, the need to strengthen entrepreneurial attitudes among students, especially due to the growing number of companies operating in Poland for reasons of positive motivation (such as improvement of the standard of living or independence). Moreover, the conducted analyses lead to the conclusion that new companies are financed primarily from their own resources, which discourages many from starting their own business.
</abstract>

Financial and Non-Financial Aspects of Entrepreneurship - the Polish Perspective

AHEAD OF PRINT

Volume 20 (2024): Issue 1 (March 2024)

Volume 19 (2023): Issue 4 (December 2023)

Volume 19 (2023): Issue 3 (September 2023)

Volume 19 (2023): Issue 2 (June 2023)

Volume 19 (2023): Issue 1 (March 2023)

Volume 18 (2022): Issue 4 (December 2022)

Volume 18 (2022): Issue 3 (September 2022)

Volume 18 (2022): Issue 2 (June 2022)

Volume 18 (2022): Issue 1 (March 2022)

Volume 17 (2021): Issue 4 (December 2021)

Volume 17 (2021): Issue 3 (September 2021)

Volume 17 (2021): Issue 2 (June 2021)

Volume 17 (2021): Issue 1 (March 2021)

Volume 16 (2020): Issue 4 (December 2020)

Volume 16 (2020): Issue 3 (September 2020)

Volume 16 (2020): Issue 2 (June 2020)

Volume 16 (2020): Issue 1 (March 2020)

Volume 15 (2019): Issue 4 (December 2019)

Volume 15 (2019): Issue 3 (September 2019)

Volume 15 (2019): Issue 2 (June 2019)

Volume 15 (2019): Issue 1 (March 2019)

Volume 14 (2018): Issue 4 (December 2018)

Volume 14 (2018): Issue 3 (September 2018)

Volume 14 (2018): Issue 2 (June 2018)

Volume 14 (2018): Issue 1 (March 2018)

Volume 13 (2017): Issue 4 (December 2017)

Volume 13 (2017): Issue 3 (September 2017)

Volume 13 (2017): Issue 2 (December 2017)

Volume 13 (2017): Issue 1 (November 2017)

Volume 12 (2016): Issue 4 (December 2016)

Volume 12 (2016): Issue 3 (October 2016)

Volume 12 (2016): Issue 2 (June 2016)

Volume 12 (2016): Issue 1 (March 2016)

Volume 11 (2015): Issue 4 (December 2015)

Volume 11 (2015): Issue 3 (September 2015)

Volume 11 (2015): Issue 2 (June 2015)

Volume 11 (2015): Issue 1 (March 2015)

Financial Internet Quarterly

   Our journal The Financial Internet Quarterly is already indexed in Emerging Sources Citation Index!   Established in 2004 with the support of the National Central Bank of Poland, the Financial Internet Quarterly (FIQ), initially 'Financial Internet Quarterly e-Finanse', is a scientific Journal published by The University of Information Technology and Management in Rzeszow, Poland. As a peer-reviewed, open-access Journal, FIQ plays a pivotal role in bridging the research gap within the European financial scholarly community, appealing to a wide array of finance professionals, academics, and students. By eliminating Article Processing Charges (APCs), it ensures unrestricted access to its comprehensive research findings. FIQ's scope spans crucial financial disciplines. It offers insights into corporate finance, focusing on investment strategies and governance. The journal delves into banking, covering risk management and financial innovation, and explores public finance topics like fiscal policy and taxation. It also examines capital markets, analyzing securities trading and market dynamics, alongside addressing insurance, accounting, and legal aspects of financial management. This broad coverage ensures FIQ's role as a pivotal platform for finance-related discourse, upheld by its distinguished Editorial Board. The Editorial Board, consisting of esteemed scholars, ensures that FIQ maintains rigorous academic standards and relevance in its publications. This commitment positions FIQ as an essential resource for advancing knowledge and fostering dialogue within the global financial community. Why subscribe and read The aim of this quarterly publication is the popularization of financial knowledge and the presentation of new ideas in this field. We publish articles covering a wide range of financial topics, including issues related to business finance, public finance, insurance, banking, accounting, capital markets and the legal aspects of financial management.  Why submit  The journal have constructive double – blind peer review process and efficient publication process.  Rejecion Rate   7%   Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 