Purpose: The present study investigates the survival and success of new organizations in the light of complex network theory.

Methodology: The empirical data was collected using the survey method from the technology park companies are analyzed with social network analysis. Two main methods were used in this study: descriptive statistics and social network analysis.

Findings: The findings indicate that new nodes appearing because of splitting up of bigger nodes from present or other related networks have a higher degree of centrality. In practice, this means that companies founded by former members of large-scale companies from these networks are more successful due to the ease in providing the flow of resources and information through previous links. This suggests that the imprint effect can be observed in the appearance, lifecycle, and performance of new nodes in complex networks.

Originality: The literature lacks studies on new organizations’ lifecycle in complex networks despite the existence of studies about new organizations in organizational networks. This study examines the appearance, success, and survival of new organizations in networks by complex network approaches such as dynamism, dissipative structures, and uncertainties.

Purpose: Capital flows, tax competition, multinational companies and tax havens weakens governments’ ability to lead independent tax policy. This race to the bottom, especially in the case of CIT rate, seems to work. Aim of the text is to show that the governments are not as powerless as it is often claimed. Despite common opinion, nation-states retain a relatively significant autonomy in creating their own fiscal policies, including tax instruments. Size of funds kept in tax havens have not been growing for few years and international cooperation of tax authorities is more and more efficient in dealing with the tax fraud.

Methodology: The study uses desk research method for theoretical reasoning to verify the research
hypothesis. Moreover, the study seeks answering if the application of EU tax policies determines national tax policy. To that end, the authors utilize time series and cause-effect analysis, as well as quantitative research for the systematization of statistical information and regression analysis for the examination of statistical dependencies. Tax competition or the functioning of tax havens naturally limits the realization of the fundamental functions of fiscal policies, although the taxation remains one
of the most crucial instruments of macroeconomic and income policy of national authorities.

Findings: The most important data on public revenues structure in different OECD countries indicate
that taxation remains one of the most crucial instruments of macroeconomic and income policy of
national authorities. We also show that impact of FDI on hosting economy is not as positive as it is
said to be. There is no relation between FDI and R&D spending and level of wages in hosting country
is even affected in the negative way by the FDI inflow. Irrespective of the regulatory details introduced at the EU level – the basic factor affecting jets coordination in the field of cooperation between tax services brings effects both in terms of the current collection of tax liabilities
and the creation of regulations that hinder tax avoidance and under statement assessment.

Originality/value: The study focuses on an analysis of tax policy. The view that taxation of international corporations is fraught with difficulties finds support in the undeniable reality of tax competition.Moreover, a large and growing share of profits is transferred to low-tax places. The prospects for taxing international companies with positive rates seem unoptimistic. Therefore, it is essential to check how the national economy is affected by the FDI inflow in OECD countries.

Purpose: The purpose of the study was to answer the question: “What are the most common factors
influencing effectiveness of internal communications faced by Polish organizations?” This article
discusses the role of internal communications practices leading to enhancement of organizational
performance. In particular, it concentrates on factors impeding the flow of information inside the
organization. Later on, the article presents empirical findings.

Methodology: Contemporary public relations, internal communications and employee communications
texts have been reviewed to identify how internal communications is defined in literature
and how it influences organization success. Relevant existing research was reviewed and primary
research was conducted. The latter consisted of 29 in-depth interviews with employees from various
Polish organizations.

Results/findings: The article presents interesting results that can be especially useful for internal
communications specialists and managers. It is recommended that to gain a fuller picture of the
issues underlying the findings, quantitative research with relevant employees should be undertaken.

Purpose: In this paper I investigate the information fl ow between the credit default swap market and the stock market as well as insider trading in the credit default swap market.

Methodology: For my analysis I use the event study methodology. Using the event study methodology I calculate abnormal stock returns and abnormal credit default swap premium changes. The analysis is based on 175,874 observations collected for 92 companies between the years 2001 and 2010.

Findings: The results show that the information fl ow from the credit default swap market to the stock market is the most signifi cant in terms of negative rating outlooks. The information fl ow is much less signifi cant in relation to negative surprises during announcements of annual fi nancial results and rating upgrades. Evidence of insider
trading is also most evident with reference to negative rating outlooks. Additionally, a distinctive feature of the credit default swap market and the stock market is the asymmetric response to negative and positive credit information.

Research limitations: The event study methodology does not consider other potentially important reasons for the information fl ow between markets than the ones actually investigated. The credit events and credit risk information used in this research are just a proposal and can be extended by future researchers.

Originality: This paper discusses a new research area. The main research area in terms of insider trading is still the stock market, with special focus on the US market. I decided to explore the insider trading phenomenon in the credit default swap market. I only considered contracts that are quoted with reference to European underlying assets. This part of the financial market is attractive in terms of economic research as credit derivatives are more commonly used not only in North America but also in Europe.