Purpose: One of the regulatory responses to the 2008 financial crisis was to internalize the costs related to banks’ distress by introducing bank levies. More than 23 European banking sectors have been confronted with the new levy regime imposing the additional tax on banks’ balance sheet.

Methodology: This study analyzes the effect of the levy introduction on banks’ profitability, credit activity, and on their business models. More importantly, we confront two different levy regimes – one imposed on banks’ assets and the other on liabilities – to assess their differential impact. A generalized least squares regression with a random effect is performed on a data sample of Hungarian and German credit institutions from 2005 to 2015.

Results: The results show that levy introduction weakened banking sectors in terms of their profitability as well as their lending activity. Even though banks try to compensate for the cost of the levies by passing some of the costs on to the customers and restructuring their operations to limit the tax burden, we find that these activities are not sufficient to offset the whole tax burden. We also note that while the asset levy has a more severe effect on banks’ profits, the liability levy severely affects banks’ lending due to lower interest margin resulting from higher cost of funding.

Findings: Our research results provide important conclusions for regulators, especially during turbulent periods such as the COVID-19 pandemic to strengthen the banking sectors by considering the levy suspension.

Purpose: The article aims to examine the impact of women’s decision-making power in families on their gender stereotypes about business executives in the promising but insufficiently explored regions of Central Europe (CE) and Central Asia (CA).

Methodology: The study utilized multiple linear regression and Spearman’s correlation coefficients to analyze survey data (No=6,869) from Central European (Czech Republic, Hungary, Poland, and Slovakia) and Central Asian states (Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan).
Findings: Central Asian women demonstrated stronger gender stereotypes about business executives compared to the Central European sample. Equally shared power in decision-making with a part-ner has a positive impact on weakening women’s gender stereotypes about top managers. Men’s unilateral decision-making correlates with their spouses’ higher gender bias, whereas independent women’s decisions do not reveal a relationship with their gender stereotypes.

Research limitations: The study does not control respondents’ marital and mother’s status and excludes one of the Central Asian states, namely Turkmenistan.

Research implications: Policymakers can use the present findings to forecast how familialist pol-icies reproduce gender stereotypes and inhibit gender equality. The research complements the specificity of the vicious cycle linking gender roles and stereotypes in the context of CE and CA and expands the “family cage” phenomenon.

Originality/value: First massive research on gender stereotypes about business executives embrac-ing the Visegrad Group and four Central Asian states. The study discovers the internal aspect of family impact on women’s views of top managers that has been neglected before.

Purpose: This study explores the knowledge development of network-based market orientation (MO) for the internationalization of disruptive innovation (DI) by small and medium-sized enterprises (SMEs).

Methodology: To manage knowledge development for DI internationalization, a business model was applied to a case study of an individual example. The studied company participated in a series of workshops and allowed on-site visits and interviews for two years in a European Union-funded project. The workshops helped the company to gather MO and networking knowledge and then apply that knowledge internally in the organization and externally, in interactions with suppliers, buyers, and other members of the buyer chain.

Findings: Although technological and market efforts usually proceed separately, this study shows that technical and MO knowledge can go together through external and internal networking.

Research limitations/implications: To overcome the limitation of having just one example in a case study, several SMEs can be included in future research to produce a comparative analysis. A further study can investigate how technical and market networks can be integrated in the knowledge development process to speed up internationalization. Managers can learn to internationalize DI by collaborating, knowledge sharing, and networking with other SMEs, suppliers, and firms in the buyer chain.

Originality: The current study contributes to DI literature by highlighting knowledge generation in SMEs from a process perspective as well as by integrating technical and MO efforts for internationalization.

Purpose: The article analyzes the consequences of transformation in governance structures of stock exchanges on their CSR initiatives, in particular relations between their organizational forms and the number and nature of CSR initiatives as well as their influence on stock exchanges’ performance.

Methodology: In our study covering 40 European stock exchanges, we identified 527 sustainability practices implemented between 1992 and 2019. We divided these practices into two categories: internal, applying to the stock exchange itself, and external, targeted at listed companies. Moreover, we proposed a synthetic indicator of stock exchange development to measure its economic performance.

Findings: We found that publicly traded stock exchanges undertake a greater number of CSR initiatives and have a higher proportion of internal practices, than stock exchanges organized as non-public entities. Our study also indicates that a large number of implemented CSR practices positively affects the economic performance of stock exchanges, and furthermore, that internal practices have a greater impact than external ones.

Research limitations: The surveyed European stock exchanges may differ from stock exchanges in other regions regarding their CSR policies.

Originality: Our study proved that the corporatization of stock exchanges affect their CSR practices. It also showed that some types of sustainability activities affect performance in a more significant way than others.

Purpose: Gratitude is an interdisciplinary concept frequently explored in positive psychology, which recognizes gratitude as one of the seven transcendent character forces that promote well-being and life satisfaction. The purpose of the conducted research was to develop the concept of gratitude toward the organization and prepare a tool to study this phenomenon.

Methods: The study was cross-sectional. Participants were 802 employees from various organizations.

Results: The Gratitude Toward the Organization Scale has a good internal consistency (Cronbach’s α was 0.91). Factor analysis confirmed the two-factor structure of this tool. The dimensions of gratitude toward the organization are distinguished as: (1) gratitude as a commitment to reciprocity and (2) gratitude as a moral norm. The construct validity of this measure was confirmed. Gratitude toward the organization correlated positively with job satisfaction, affective commitment to the organization, organizational justice, and perceived organizational and supervisor support, while being negatively correlated with intent to leave the organization.

Conclusions: The obtained results confirm very good psychometric properties of the Gratitude Toward the Organization Scale as a valid and reliable measure for studying the gratitude of employees, which can be successfully used by researchers in Poland.

Purpose: The technological progress of production processes causes changes in the social structure
of work, i.e. modifies the content of most, if not all, workplaces. In that respect, the identification
of changes in the intensity of creativeness, the level of education, and the experience of employees
in production processes and occupational tasks is a particularly important issue. The article investigates
the interdependence among work creativity, education, and job experience of employees of
one of the municipal companies operating in Poland.

Methodology: The study employs firm-level data covering over 2,200 observations. The study gathered
data from three major internal sources of information: the scopes of responsibilities of organizational
positions, personnel documentation regarding the individual level of education and
professional experience, and the results of interviews with executive staff and employees on particular
posts. The research proceedings base on document analysis, structured interviews, teamwork
methods, and a classification technique.

Results: Research revealed that the complexity of work increased in the company. Jobs requiring
higher levels of creativity are occupied by employees with relatively higher education. However,
their average level of education in the analyzed period decreased as opposed to jobs that require
relatively lower levels of creativity. The analysis of interdependence between creativity and job
experience identified that there emerged a relatively shorter average job experience for employees
who perform cognitive work. Moreover, the average job experience increased in the group of employees
who perform routine manual and non-routine cognitive work.

Implications: The study refers to the job polarization issue by confirming the tendencies of labor
markets. It also addresses issues concerned with technological progress, although they are not
confirmed by research in this paper.

Originality/Value: The main contribution of the paper is the interesting dataset gathered. Furthermore,
the paper addresses an interesting question where empirical research at the firm level is
lacking, particularly municipal company.

Purpose: The purpose of the research was to find out the correlation between the motivation and costs of internal or external locus of control and the propensity to mentor. Investment of time and per sonal energy was regarded as factors with an internal locus of control, whereas a lack of mentee’s achievement, problems caused by a mentee, unhealthy or unfriendly relation, and a risk to be replaced by a mentee were regarded as factors with an external locus of control. In the case of internal factors, their locus of control is the mentor him/herself while, in external factors, their locus is outside of the mentor and lies in a situation or an environment.

Methodology: A quantitative cross-sectional study among Polish managers.

Findings: First, the results show that uniquely intrinsic motivation relates to the propensity to men tor, while extrinsic motivation has no importance. Second, before deciding to mentor, managers estimate the costs of mentoring: the higher they are the lower the propensity to mentor. Third, the costs related to the internal locus of control – time and personal energy invested by a mentor in men toring – are most important when deciding to mentor. The risk of destroying a mentor’s reputation, problems caused by a mentee, unfriendly or unhealthy relationship and a risk to be replaced by a mentee emerged as of little importance. Fourth, previous experience as a mentor or mentee positi vely influences the propensity to mentor.

Value: The study contributes to existing research, theory, and practice in the field of organizational behavior in the context of mentoring. The findings shed light on decision patterns in managers’ pro pensity to mentor and thoroughly explore the role of the anticipated cost of mentoring.

Purpose: When facing important decisions, people often ask themselves “What should I choose?” This question may involve intertemporal and risky decisions. The aim of our study was to test a potential discrepancy between the normative and descriptive perspective, that is, between “What should you choose?” and “What do you choose?”.

Methodology: In this study we assessed the rate of delay and probability discounting of 236 participants. The design was a 2 (“choose”/“should choose”) × 2 (small/large) × 5 (delays or probabilities) factorial design in delay and probability discounting.

Findings: People are less impulsive when taking the normative perspective than when they take the descriptive one. This phenomenon occurs in relation to large payoffs. However taking the normative rather than descriptive perspective makes no difference in risky decisions.

Research limitations: In further research it would be beneficial to study real outcomes as choice consequences and to control for variables that might moderate the impact of our manipulation, such as addictions.

Implications: The manipulation with the perspective may be applied not only in financial decision making. Our results may find a practical implementation to help impulsive people make more sensible decisions.

Originality: We demonstrated the internal conflict between the descriptive and normative mode in delay discounting decision making.

Purpose: This study is aimed at analyzing the influence of the size of the board of directors, audit committee, institutional ownership and managerial ownership on the fnancial performance of manufacturing companies listed on the Indonesia Stock Exchange.

Methodology: The study analyses 156 Indonesia frms listed on the Indonesia Stock Exchange using linear regression analysis.

Findings: The results indicated that the size of the board of directors has a positive effect on fnancial performance, while the size of the audit committee, institutional ownership and managerial ownership has no effect on the fnancial performance. While on the simultaneously testing, it showed that the size of the board of directors, audit committee size, institutional ownership and managerial ownership influence the fnancial performance.

Research limitations/implications: The research has been limited to the manufacturing sector of Indonesian companies and the internal mechanism of corporate governance. The study suggests considering an external mechanism of corporate governance as predictor variables.

Originality: The study adds to the literature of corporate government and frm performance in emerging countries. The study implies that corporate governance mechanism for audit committee, managerial ownership and institutional ownership do not enhance company performance. The average size of an audit committee just to fulfll the regulation. Corporate governance mechanism that improve fnancial performance is size board director. Improvement in board performance as board size increase has positive impact that enhance fnancial performance of company.

Purpose: This paper investigates the relationship between the internal governance structure and fnancial performance of Polish companies. Ensuring diversity of corporate boards has been on the agenda of various regulators on a national and international level as it is generally expected corporate boards that are more diverse will be more competent and more effective monitoring managerial actions, and therefore positively impact company performance.

Methodology: This paper uses a sample of companies listed on the Warsaw Stock Exchange and examines the two main compositional features of company supervisory boards (independence and experience) and their practices by companies. We also investigate the effect of diversity on company performance. As our empirical methodology, we use linear regression analysis.

Findings: Our fndings support the proposal that diversity matters, especially in terms of the presence of experienced members on supervisory boards, and that such diversity positively affects fnancial results. In addition to the main fnding, the results of the study indicate also the importance of the ownership structure. Family frms and companies with a higher level of gearing are more likely to perform less effectively.

Originality: To date, research on the association between supervisory board diversity and fnancial performance in either the Polish or Central and Eastern European capital markets has been limited. The paper also points to the importance of having experienced members on a company’s supervisory board. Independent members on supervisory boards do not seem to have a similar association.

Purpose: Despite the importance of innovation, the full innovation potential of companies operating in the industrial sector of Central and Eastern Europe (CEE) seems not to have been unlocked yet. Thus, the primary purpose of the study was to explore the key elements of company innovation policies applied on the way to successful innovation.

Methodology: The study is based on qualitative methods. The aim of the study has been achieved through 24 semi-structured interviews conducted with senior management, project leaders, and R&D specialists employed at companies operating in the industrial sector in CEE. The time frame covers the period of the fourth quarter of 2016 and the frst quarter of 2017.

Findings: Managing disruption consists of focusing on innovation development stage and following market imperatives by making the innovation try to address the market needs. Balancing portfolio requires considering product and process innovation jointly. Furthermore, 62% of the interviewees say that breakthrough innovation results ultimately from numerous incremental advancements. As far as policy integration is concerned, achieving competitive advantage through internal research is common amongst technological leaders, while market contenders turn to external cooperation. Moreover, incorporating CSV principles into the concept of innovation policy appears to be a necessity. Managing intangibilities comes down to patents.

Research limitations: The research was burdened with such limitations as respondents experiencing time pressure and the use of only one source of information (the interviewees).

Originality: Despite much general evidence, the study attempts to complement the rare qualitative studies on innovation in CEE. It was carried out as a response to the lack of an in-depth study covering such recurrent challenges in the feld of company innovation policies as disruption, portfolio balancing, integration, intangibilities’ management, and play.

Purpose: The goal of this paper is to develop a framework describing the mechanisms which explain how and when CSR engagement affects company’s bottom line, based on a review of the business case for CSR literature.

Approach: This article is conceptual and based on literature review. By using a CSR stage development model, behavioral and stakeholder perspectives, it offers a descriptive multi­dimensional integrative framework of the business case for CSR.

Findings: The fndings show that the relationship between engagement in CSR activities and corporate performance (CP) depends on a CSR development stage, managerial interpretation of CSR issues, stakeholder management model and moderating factors.

Originality: This article integrates disconnected models and conceptualizations in the subject literature and contributes to the theoretical discussion by arguing that type and scale of benefts from CSR activity progress along the stages of organizational CSR development. Moreover, it also shows that the CSR­CP relationship depends on internal and external factors (mediators and moderators). It therefore supports the contingency argument.

Purpose: The article addressed the problem of relationships between university funding and efficiency on the one hand and the quality of teaching and research on the other.

Methodology: The measurement of teaching and research quality in Polish universities was derived from two sources: 1) evaluation scores of teaching quality given to universities by the Polish Accreditation Committee, and 2) the research category grades given to university departments or units by the Polish Committee for Evaluation of Scientific Units. Subsequently, the quality measurements were correlated with financial indicators and efficiency scores obtained from data envelopment analysis.

Findings: The correlation and regression results indicated that public universities that have received higher scores of teaching quality simultaneously have higher average scientific categories. There was also a substantial relationship between the revenue per student and the revenue per teacher and variables describing quality but the regression analysis exhibited opposite directions regarding the type of quality indicator.

Research limitations/implications: The quality of teaching and research at universities was assessed despite the limited availability of internal information gathered from higher education institutions (HEIs).

Practical implications: The authorities of a university can simultaneously track the improvement of quality or financial efficiency without losing their interdependence when reforms of HEI operations are conducted.

Originality: The study proposed new measurements of quality derived from external evaluation bodies and investigated the relations of these measures with selected financial and efficiency indicators.

Purpose: The aim of this study was to identify the content of disclosures presented by public companies listed on the Warsaw Stock Exchange on the internal control and risk management systems in relation to financial reporting.

Methodology: The study contents were formulated with the use of literature studies. Content analysis studies and disclosure index studies were used for the study of narrative disclosures. The research was of a qualitative nature.

Results: The results showed that the companies listed on the Polish capital market are still at the stage of formulating reporting practices in the area of control systems over financial reporting. It should be noted that the diversity in information presented within disclosures about control systems over financial reporting is considerable. For some companies, the disclosures are formulated at such a high level of generality that no firm conclusions can be drawn. Detailed items of disclosures presented by particular companies can be identified in the reporting practices. The findings may provide the basis for constructing an index of disclosures about control systems over financial reporting.
Scope of research: The study examined disclosures about internal control and risk management systems in relation to financial reporting presented by public companies listed on the Warsaw Stock Exchange.

Originality: Disclosures about internal control and risk management systems in relation to financial reporting are a relatively new issue in Polish practice. The literature studies carried out as part of the research indicate that this issue is a research gap.

Purpose: This study is a contribution to the validation of the Motivation to Lead (MTL) scale proposed by Chan and Drasgow (2001) in order to measure three types of motivation to be a leader: affective, social-normative and calculative. This research examines the psychometrical properties of the MTL scale in the Estonian context.

Design/methodology/approach: The sample of 517 military and non-military individuals from the Estonian Defence Forces, Estonian Police and students from Tallinn University participated in the study. The original MTL scale was expanded by with the addition of ideological and patriotic dimensions proposed by Amit and colleagues (2007). The factorial structure of the MTL Scale was analysed by using exploratory and confirmatory factor analysis (respectively N = 170 and N = 347).

Findings: The results confirmed that both three- and five-component MTL scales are applicable in the Estonian context; the pool of 35 items was reduced into 25 items with good internal reliability. Moreover, the results showed correlations between leadership self-efficacy and MTL components, and differences between leaders’ and non-leaders’ MTL. The results indicate that the MTL scale can be a reliable and useful instrument to measure leadership motivation in the Estonian military context.

Originality/value: This study is the first to adapt the MTL scale to the Estonian context. In addition, it examines the validity of ideological and patriotic MTL as part of the general MTL construct outside of the Israeli samples.

Purpose: To analyse the issue of public debt in Poland and examine its effect on other areas of socio-economic life as well as government policy.
Approach: The question of public debt is placed in its historical context by looking at how it grew during the Communist system and influenced the transition period. The article draws on a range of secondary economic statistics and considers in detail a number of public policy issues, such as the reform of the pension system.

Findings: One result of the large debt incurred by the end of the 1970s was that Poland became indebted to creditors in the West. This dependency helped to shape its economic policy at the end of the 1980s. The transition to a market economy placed new burdens on the country’s public services, primarily due to the resulting large deactivation of labour. Furthermore, the creation of a compulsory private pension system at the end of the 1990s diverted significant funds out of the government’s budget and swelled the country’s public debt. Since the outbreak of the economic crisis, Poland has avoided a recession by increasing public investment by utilising available European Union funds. However, due to internal and external limits on the size of its public debt, the government is being pressured to reduce this spending. In order to create more fiscal room, the government has partly dismantled the compulsory private pension system as a short-term solution to the growing debt crisis.

Value: In the wake of the global financial crisis and economic turmoil in the European Union, the matter of public debt has taken on increased importance. This paper considers this question from a long-term perspective in a country that has been relatively successful during the international economic downturn. By examining public debt from this broad perspective, we can better understand the economic situation in Poland and the European Union, whilst also shedding light on some of the surrounding academic perspectives and public policy debates.

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: Empirical research on entrepreneurship in organizations has brought disparate and often
contradictory evidence related to the impact of leadership on creativity in organizations. The purpose
of this paper is to explore and discuss the impact of different leadership styles on creativity,
with the view to formulating an integrated conceptual model that links creative novelty and creative
practicality with leadership.

Methodology: The author applied the methodology of meta-theoretical review. In accordance with
the principles of theoretical bricolage, a new conceptual model was built on the basis of the multidimensional
creativity theory and the leadership theory. In her analysis, the author took into
account leadership styles that have already been subject to research; each of them was mapped in
the two-dimensional space of organizational creativity.

Findings: In order to fully understand the reasons for differences in organizational creativity, the
drivers of divergences in the space of creative novelty and creative practicality need to be clarified.
Greater knowledge about the impact of leadership styles on the structure and configuration of
organizational creativity is necessary. In this paper, the author provides a theoretical framework
that illustrates manners in which leadership influences organizational creativity. The model clarifies
the role that leadership plays in shaping a unique configuration of organizational creativity,
and consequently in ensuring the necessary internal adaptation of an organization.

Originality: The value of this research lies in the situational interpretation of various leadership
styles in the context of their impact on organizational creativity. The analysis goes beyond the
conventional discussion about leadership and creativity, focused on establishing whether a given
leadership style proves beneficial or not for organizational creativity. The paper identifies particular
effects that several key leadership styles have on organizational creativity; they are depicted in
a new theoretical framework.