Purpose – We aimed to identify factors that influence student engagement in distance learning.
Design/methodology/approach – The research involved a group of 671 students from economic and technical higher education institutions in Poland. We collected the data with the CAWI technique and an original survey. Next, we processed the data using principal component analysis and then used the extracted components as predictors in the induced smoothing LASSO regression model.
Findings – The components of the students’ attitude toward remote classes learning conditions are: satisfaction with teachers’ approach, attitude to distance learning, the system of students’ values and motivation, IT infrastructure of the university, building a network of contacts and communication skills. The final model consisted of seven statistically significant variables, encompassing the student’s sex, level of studies and the first five extracted PCs. Student’s system of values and motivation as well as attitude toward distance learning, were those variables that had the biggest influence on student engagement.
Practical implications – The research result suggests that in addition to students’ system of values and motivation and their attitude toward distance learning, the satisfaction level of teachers’ attitude is one of the three most important factors that influence student engagement during the distance learning process. Originality/value – The main value of this article is the statistical model of student engagement during distance learning. The article fills the research gap in identifying and evaluating the impact of various factors determining student engagement in the distance learning process.

Purpose – We aimed to analyze the impact of the transition to the hybrid model of teamwork and team dynamics from the perspective of the five key challenges, i.e. communication, coordination, connection, creativity and culture.
Design/methodology/approach – To achieve the stated aim, we conducted a literature review and then an exploratory qualitative study. We split the research into phases: December 2021 to January 2022 and July to August 2022. In the first phase, we conducted computer-assisted online interviews (CAWIs) with all members of the remote team and an in-depth interview with the manager. After the transition from remote to hybrid work in February 2022, we returned to the team to conduct in-depth interviews with team leaders and the manager. Findings – We identified key findings, i.e. managerial implications of differences across the 5 Cs (communication, coordination, connection, creativity and culture) noted in the functioning of the analyzed team as the team shifted from fully remote work to the hybrid work model.
Research limitations/implications – We concluded that if people do not spend time together and are not impregnated with the unique culture and values of a given organization, they will not feel a connection to its distinctive ethos and may choose to leave. In the longer-term, the last challenge may be the biggest single opportunity for employees post-pandemic and concurrently the single biggest challenge that organizational leadership will need to address, given that sustainable market success depends on talent.
Originality/value – The results showed that team communication, teamwork coordination, social and emotional connections among team members, nurturing of creativity, as well as of the organizational culture were of high importance to the team in the hybrid work model. Thus, we confirmed the findings of other authors. The study contributes to our understanding of the impact of the hybrid work model on teamwork and team dynamics and provides some guidance on how organizations can mitigate these, in particular through the team manager.

Purpose – Virtual goods consumption has risen dramatically in recent years. Recognizing the benefits of virtual goods in generating revenue for online game companies, marketers strive to understand the motives behind virtual goods purchases. We investigated the direct and indirect effects of functional, emotional, and social values through player satisfaction on purchase intention toward virtual goods among online players. Design/methodology/approach – In total, we surveyed 332 online game players utilizing a structured questionnaire. We employed a multi-analytic approach combining partial least squares structural equation modeling (PLS-SEM) and necessary condition analysis (NCA) to examine the proposed relationships. Findings – The findings show that all dimensions of value and player satisfaction significantly affect the intention to acquire virtual goods. However, social value does not exert a significant effect on player satisfaction. Moreover, we confirmed that player satisfaction mediates the relationships between functional value, emotional value, and purchase intention. Furthermore, NCA results indicated that all predictors in the model are necessary conditions of purchase intention for virtual goods.
Originality/value – These findings contribute to an enhanced understanding of purchase intentions among online game players from a symmetric (PLS-SEM) and asymmetric (NCA) perspective by proposing a multi-analytic approach.

Purpose – This article aims to analyze the strategic work of Polish entrepreneurs in the furniture industry following the political changes in 1989. The authors examined how these entrepreneurs transitioned from local craftsmen or importers into leaders of international manufacturing companies and how their strategizing contributed to the unprecedented growth of the Polish furniture sector.
Design/methodology/approach – The authors examined extant data, specifically biographical interviews conducted with 11 prominent leaders in the Polish furniture industry (Hryniewicki, 2015, 2018). They analyzed within a theoretical framework that integrates J.C. Spender’s theory of strategic management with Barry Johnson’s concept of polarity management. Polarity is a way of understanding and managing interdependent, opposing pairs of values or perspectives that give rise to conflict.
Findings – The analysis reveals key patterns of strategic challenges at the level of human agency, history and sense-making. The authors identified four key polarities: life and business, knowledge presence and absence, concordance and discordance, and instrumental and non-instrumental sense-making.
Originality/value – The polarity concept illuminates the interplay of agency and determinism in strategic decision-making, offering valuable insights for methodology and a deeper understanding of Poland’s furniture industry.

Purpose: The 21st century has witnessed an explosive growth of both South Korean popular culture (K-pop) and automobiles (K-car) in Western societies. However, K-pop appears to maintain its success better than K-car. This paper will evaluate the origins of K-pop and K-car and determine the distinguishing factors that led to continued K-pop compared to K-car success.

Design/methodology/approach: Suggested claims of artistic/cultural and social/industrial traditions unique to South Korea as causes of the growth in K-pop and K-car success in literature will be evaluated based on historical growth in sales of both products in the US market. Factors of continued success will be evaluated based on how well both industries have been able to maintain their (perceived) brand authenticity, which emphasizes ‘Korean’ cultural values.

Findings: Unlike claims regarding the importance of traditional culture in shaping business success in emergent states, this paper shows that the success of Korean music and cars is not due to artistic/cultural values. Rather, while optimally identifying progress within industries such as digitization in music, South Korea’s unique ability is to deploy its industrial machinery to transform bolder performances and designs originating elsewhere into inoffensive forms with broad cross-cultural appeal. Especially, K-pop’s continued success can be explained through better attention to perceived authenticity, without distinguishing its products too much from known, Western perspectives. Results
also indicate that Korean products do not perform well when companies attempt to take on a leadership role in the industry or develop bold new designs that deviate strongly from Western principles.

Originality/Value: The paper provides unique insights in the similarity of product design and branding, providing tools for evaluating perceived authenticity of a brand and its potential impact on sales. It shows that attention to traditional cultural values may not be a (sufficiently) appropriate strategy for international success. From a Central European perspective, lessons learned by the Korean car and culture industries may lead to new strategic uses of branding and marketing local products and of different forms of governmental/industrial structures to emerge out of the periphery.

Purpose: This study aims to assess the direction of changes in the extent of extreme, relative, and statutory poverty in 2008–2017 in Poland, along with the spatial differentiation of poverty in individual voivodships.

Methodology: The study of poverty differentiation based on data from Household Budgets Survey. Obtained results were subjected to statistical analysis, using elements of multidimensional analysis.

Results: The research revealed that there are significant differences in the level of poverty in individual voivodships, with lower values observed in Western Poland. A significant drop in the level of poverty, especially extreme poverty, was recorded in 2008–2017. Furthermore, fluctuations in the extent of poverty are strongly impacted by state policy.

Implications: Research results may be useful to policy-makers at the local government level not only in Poland but also in other countries, mainly from the perspective of the European Union’s Europe 2020 strategy.

Originality/Value: The article undertakes the topic of poverty, which constitutes an important and current socioeconomic concern. Despite progressive economic development, there still exist disadvantaged groups of entities and households.

Purpose: The article is a review aimed at presenting the concept of and available knowledge on
teal organizations and at indicating further research objectives.
Methodology: Research methods employed in the study included a systematic review of the literature, along with its critical analysis and logical deduction.
Findings: The analysis shows that teal management – based on self-organization – may prove to be an opportunity for companies to adapt to changing circumstances. The teal organization concept is a true revolution in modern management, as it rejects all systems and previously immutable rules of the business world. The subject requires further empirical research.
Research limitations: Limitations apply to both the concept of teal organizations itself and the literature review. Since the teal organization concept was established in 2015, there is a lack of reviews and scientific studies or in-depth empirical research on this topic. Thus, the articles included in the review do not exhaust the issue.
Implications: The issues discussed in the article require further scientific research, primarily empirical. The said research should cover various aspects, such as building a culture of trust and self-organization, leadership (3.0), management through values, and new management methods.
Value: This is the first publication in this field that falls within this research gap. This study constitutesa significant contribution to the development of research on the concept of teal organizations.

Purpose: The increasing pace of technological progress, hyper-competitiveness, volatility of markets, dominant in the contemporary society all cause signifcant changes in the approach to innovation and lead to the emergence of a new generation of models of innovation processes. An open innovation model is based on a systematic search for as well as research and use of various sources of opportunities for innovations that offer commercial potential. The main objective of this article is to analyse the possibilities of application of models of open innovation in management of micro, small, and medium enterprises (SMEs) in Poland. This article intends to explore the essence of open innovation by values, its inception, and conditions for its implementation in the management process specifc to the SME sector.

Methodology: The study has been based on in-depth semi-structured interviews conducted among business managers/owners responsible for innovation development of SMEs in Poland (16 interviews in total).

Findings: SMEs usually do not have their own research and development (R&D) departments, but need external support and R&D solutions tailored to their needs. SMEs need innovations and skills, which requires close cooperation with different partners. In order for SMEs to beneft from innovation processes, a structured cooperation not only with scientists and researchers, but also with other market partners needs to be established and intensifed. It changes both the creation of intellectual capital and the ways to manage it.

Originality: The new approach in the context of management of innovation is now one of the key challenges faced by smaller businesses. It is necessary to make changes in the approach to integration of external sources of innovation with the potential and resources at the disposal of a given company.

Purpose: The aim of this paper is to examine shareholders’ reaction to the decision of the supervisory board to appoint a CEO in companies listed on the Warsaw Stock Exchange.

Methodology: An event study and the mean-adjusted model were applied. The abnormal returns were measured as the CAAR in the entire (-60, + 60) window and selected sub-windows.

Findings: The obtained values of abnormal returns indicate the shareholder’s negative reaction. Throughout the observation window, they oscillate slightly below zero, and in the window (0, +20) they are negative at -1.566%. Irrespective of the observation window, negative abnormal returns were obtained for over half of the observation (52–57%). Therefore, preliminary results indicate the predominance of the information effect over the real one. The decrease in market value as a result of the event may result from an increase in investors’ uncertainty as to the effects of changes in strategy and skills of the new CEO.

Originality: The research is a unique one. To date, no one has carried out research into shareholders’ reaction to a CEO appointment in either the Polish or Central and Eastern European capital markets. They primarily bring the value of cognition of shareholders’ behaviour in the analysed event, which is reflected in share prices. They extend the literature on the signalization instruments, i.e. the activities that boards can undertake due to the new information transmitted to the capital market participants and stakeholders. The market reaction to a CEO appointment will without a doubt interest investors; the institutions responsible for supervision (which in the case of Poland is the Financial Oversight Commission) and the legislator in charge of regulations that prevent insider trading while promoting corporate disclosure transparency.

Purpose: The problem of identifying the most important determinants of the market value of football players is quite well described in the literature. There are many works that try to identify these factors. Some of them are focused on variables to make a set complete and others are on models and methods. The aim of this article is to present the variables influencing the valuation and to build an econometric model valuing footballers playing on the forward position, taking into consideration the assumptions of the econometric modelling. Such an approach indicates managers as other sources for obtaining information.

Methodology: Econometric models were used to verify the hypothesis formulated in this research. The database was created on the basis of variables presented on the website www.transfermarkt.de that presents the values of the most valuable football players in the world playing on the forward position. The Gretl program was used in the research.

Findings: The literature review showed that there are many independent variables having an impact on the value of the player. There are also many different models used to valuate footballers’ performance rights. The results of estimation of models in the research indicated that such factors as Canadian classification points adjusted the market value of the team and dummy variables describing “goodwill” (only for the best players) had an impact on the market value of footballers’ performance rights.

Limitations/implications: Information about different factors having an impact on football players’ market value could support the investment decision process of football managers.
Originality/value: The results were part of a study concerning economics of sport, particularly processes of management of football clubs and valuation of intangible assets.

Purpose: The purpose of this article is to present the findings of the author’s own studies on the
influence of owner-occupied property valuation by historical cost on fixed assets value of entities
at risk of bankruptcy.

Methodology: As part of the implementation of the study, objective desk research was carried out.
Empirical research was carried out on a group of 100 companies on which the courts had declared
bankruptcy. The study sample constituted 14% of all bankruptcy cases in 2011 and was a significant
representation of the national phenomenon.

Findings: The findings indicated that historical cost values of owner-occupied properties in most
cases are significantly lower that estimated fair value when business activities continuation is
threatened. The historical cost valuation also does not provide useful information about the market
value of property, plant and equipment of entities at risk of bankruptcy that do not possess real
estate.

Research limitations/implications: Information about market value of fixed assets of entities at
risk of bankruptcy is essential in making the decision to begin bankruptcy proceedings and estimating
the ability to repay debts to creditors.

Originality/value: The results are a part of the author’s own study concerning assets valuation
when business activities continuation is threatened. The results emphasize the role of fair value
estimation of property, plant and equipment when an entity is at risk of bankruptcy.

Purpose: Analyzing value created by marketing should cover at least two important points of view. The first is related to the problem of value created by marketing for customers, and the second is related to the value created for the organization (enterprise). This article is focused on the second point of view. Each organization formulates some expectations toward marketing, and next evaluates the results of using marketing in a more or less systematic way. The purpose of the article is to establish a theoretical model of this valuation using three dimensions: marketing effectiveness, marketing effi ciency and marketing productivity.

Methodology: This study was of a conceptual character. Findings: In presented concept, the expectations toward marketing and value created by marketing are expressed by marketing performance. In turn, marketing performance can be perceived in the three dimensions of
marketing effectiveness, marketing effi ciency and marketing productivity.

Originality: The problem of value created by marketing for the organization (enterprise) isn’t too often analyzed in the literature. Existing literature offers an analysis all these dimensions but in most cases in separate way or with some important inconsequences.

Purpose: Interest in older consumers as the subject of marketing strategy is growing in Western countries (Gunter, 1998). However, in Poland, this group is still neglected by marketers and perceived in stereotypical way, and its marketing potential is underestimated. The main goal of this research was to provide understanding of the contemporary older Polish population and especially older Polish consumers, including their values, needs,
attitudes, opinions and behaviors.

Methodology: In order to investigate the Polish “grey market,” we conducted survey research (CAPI) based on a representative quota – a random nationwide sample of n=1500 participants above 55 years old. Additionally, we also conducted qualitative research – 18 individual in-depth interviews (IDIs) at homes of consumers (ethnographic interviews).

Findings: Based on the factor and cluster analysis (Weinstein, 1994) from the quantitative survey, 5 segments of older Polish consumers were selected: Fulfi lled Optimists (14% of population), Bored with Life (17%), Passive Materialists (22%), Family-oriented Non-Paterialists (22%), and Excluded Traditionalists (25%). Segments differed in values, lifestyles, attitudes toward life, family, work and general life satisfaction. As a consequence of those psychological differences, segments differed in consumer behaviour, preferences and perception of marketing communication (advertising).

Originality: Our analysis shows that key areas, which determine particular consumer behaviour in each segment are – contrary to common belief – not demographic characteristics, but mainly psychological aspects (such as attitude to life, optimism, attitude to money, open-mindedness and general curiosity).

Purpose: The aim of the study is to discuss the problems related to consumer time valuation and its implications. This domain remains relatively unexplored in marketing literature.

Methodology: The author approached the time valuation problem in a synthetic and interdisciplinary way. To facilitate the analysis of time characteristics as a consumer resource and temporal decisions, the comparison with money was applied, which is an approach well established in the literature.

Findings: Time can be a source of value only to selected consumers, as not all perceive time as scarce. Mental accounting for time is diffi cult; hence consumers tend to use heuristics to arrive at their temporal decisions and prefer immediate discounting of temporal benefits. Contrary to a popular adage, time is not money, at least in the context of the majority of consumers’ decisions.

Research limitations/implications: Despite growth in the number of publications, knowledge of temporal aspects in consumer behavior is limited and fragmented. Less is known about how to turn the perceived value of time into customer value. Further investigation is needed to identify consumer groups that truly value time.

Practical implications: The knowledge of temporal aspects of consumer behavior, and how consumers value time, would be of particular use in the service industry, where the “when” of customer value is usually provided in the form of “convenience”.

Originality: This study sheds light on research gaps in the literature in an under-investigated subject, examining the link between the perceived value of time and possibilities to generate value based on temporal benefits.

Purpose: The article contents are a synthetic presentation of the evolution of marketing and the hitherto development of social innovation as well as a comparison of the leading traits of both processes at the present stage of development. Based on this, there is an attempt to assess their impact on the social and economic development.

Methodology: This article is of a theoretical nature.

Findings: The idea and concept of marketing and social innovation have a great potential to serve socioeconomic development. To a certain degree, they have approximate or even common ideas and goals as well as similar concepts and effects. Social innovation is a support for marketing in the delivery of values and satisfaction to consumers and to a signifi cant part of the society. It also independently affects raising the quality of life of the society, owing to socialisation, diffusion and aid in the more effective use of technological, organisational, managerial and marketing innovations.

Value: The article is a part of the stream of current discussion on the place and role of marketing and social innovation in the contemporary economy and society.

Methodology: The paper discusses major issues with references to existing literature and real business cases from S&P500 consumer discretionary sector.

Findings: The main fi nding of this paper is that CSRS could provide the company with a competitive advantage as a growing number of consumers become more sustainable conscious. It could also help to overcome the increasing consumers’ skepticism towards corporate social responsibility practices. Finally, it can also be seen as a step forward in defi ning what types of corporate activities are associated with desirable social and environmental gains.

Research limitations: Our sample was restricted to the U.S. fi rms from the consumer discretionary sector. Therefore, conclusions should not be generalized to other markets. Our study is based on the analysis of environmental and social responsibility statements and assumes that they accurately represent corporate commitment in majority of the cases.

Practical implications: CSRS offers corporations the opportunity to use their unique skills, culture, values, resources, and management capabilities to lead social progress by making sustainability part of its internal corporate logic.

Originality: The paper raises the importance of the different conditions necessary for making sustainable development concept an important part of corporate strategy.

Purpose: In the past several decades of Islamic banking and fi nance (IBF) activity in many countries, notable literature on this topic has been produced all over the world. By analyzing this IBF literature, this study investigates and highlights some ignored aspects of IBF activities.

Methodology: Academic IBF literature includes defending the plausibility of IBF as a part of Islamic economics; theoretical analysis regarding some advantages of IBF compared with conventional systems, suggesting some methods for performing IBF; and concentration on introducing fi nancial instruments and innovations in Islamic fi nancial markets. After reviewing them, they are classifi ed as high ranking journal papers and graduate dissertations that were written on Islamic economics in I.R. Iran during the past three decades. Then they are analyzed via analytical methods and descriptive statistics to investigate the ignored aspects of IBF.

Findings: Through this systemic study of Islamic banking, real and not skeletal adaptation of Islamic contracts, Islamic goals of Islamic economy, Islamic and ethical values, and justice and poverty reduction are some of the more important neglected aspects in IBF activities.
Research Implications: Focusing on these areas in future research could improve the
performance of IBF as part of the Islamic economic system and guide IBF activities to the real nature of Islam (Islamicity).

Originality: Besides reviewing and classifying the academic literature on IBF, the study is unique in focusing on the neglected aspects of IBF because it is very important and infl uential to distinguish IBF from non-IBF activities.

Purpose: In this paper we evaluate both ex-ante and ex-post macroeconomic impact of EURO 2012TM on Polish regions.

Methodology: We start with modifying the Keynesian-style multiplier model to investigate the effects of Euro 2012-related spending on local economies. This specifi cation permits us, on the one hand, to easily investigate the impact on each demand component, and, on the other hand, to calculate the magnitudes of these multipliers in order to judge the credibility of potential regional welfare benefi ts. This analysis is strengthened by taking into account the regional supply constraints. The second part of our study is devoted to an econometric estimation of long-run macroeconomic impact.

Findings: Our study does not provide a strong evidence of EURO 2012 - specific effects. We fi nd the regional multipliers’ values ranging from 1,13 to 1,33 for four hosting regions. This translates into an uncommon statement of rather evenly developed regions. The ex-ante study also testifi es of an importance of public expenditure in convergence process. In case of ex-post analysis, the estimates of regional production function reveal a modest positive effect of EURO 2012-related infrastructure spending. However, this effect is small, and there is nostatistical evidence that hosting regions recorded an event-specific growth boost.

Research limitations: Both ex-ante and ex-post studies are sensitive to regional data, therefore, some calculations may suffer from disaggregation error. Additionally, ex-post analysis needs to be repeated in order to gain more insights from historical data. Finally, authors plan to complement the analysis by the Ukrainian study.

Originality: This is the fi rst paper to date addressing the EURO 2012 macroeconomic impact from the regional perspective.