Purpose: The article presents research on enterprises from various economic environments, namely the mature Finnish market and the Polish post-transformation one. Thus, our study examined how the external (international) environment affected the internationalization and business opportunities of Polish and Finnish SMEs.

Methodology: Data for the Polish sub-sample was collected from January to February 2021 using the mixed CATI/CAWI method. We used multigroup confirmatory factor analysis (MGCFA) to check for measurement invariance, and chi-square independence test and logistic regression to verify the hypothesis.

Findings: Perceiving the environment as hostile hinders internationalization for Poland only and not for Finland. According to theoretical premises and earlier studies, entrepreneurial marketing orientation (EMO) increases the probability of internationalization in both countries. However, countries differ in terms of which EMO dimensions – and to what extent – influence internationalization.

Implications: In turbulent times, such as a pandemic, respondents might take the worst moment of turbulence as a reference point while assessing environmental hostility and appraising it as favorable. Perceiving the environment as hostile hinders internationalization in some sets only. In a mature economy, resources such as human capital, managerial experience, and access to finance may help to mitigate the negative influence of environmental hostility on internationalization. Respondents in both countries perceived the EMO dimensions in a similar way, so the EMO scale proved to be invariant and useful in a different country setting. Nevertheless, the EMO dimensions that are the main drivers of internationalization were country specific.

Originality: The article presents a study on the influence of environment characteristics on the internationalization of enterprises from various economic environments, i.e. the mature Finnish market and the Polish post-transition one. Thus, the article fills the literature gap regarding comparative studies of small and medium-sized enterprises (SMEs) acting in different country sets.

Purpose: The paper examines auditors’ experiences with corporate governance (CG) in general and
audit committees (ACs) in particular in the setting of a Polish two-tier board system and a capital
market characterized by high ownership concentration, which therefore extends the research on
CG practices of an economy beyond the well-researched Anglo-American model.

Methodology: This study adopts a qualitative research approach by using interview data from
fifteen interviews with auditors working with large publicly-listed companies in Poland to examine
the relationships among auditors, Audit Committees, and CG.

Findings: The auditors indicate that the CG environment has changed. However, the institutionalization
of an AC in Poland generally is the subject of coercive isomorphic pressures, which lead
to its decoupling and transition toward a ritualistic role. Moreover, auditors report only some
reliance on CG information in the planning phase and none in the field-testing or review phases.

Originality: The findings differ from those of prior studies conducted predominantly in the USA
and the UK, in which auditors reported far greater reliance on CG in all phases of the audit process.
The two possible reasons for this difference in findings could be the different development stages
between capital markets and different CG systems.

Purpose: The experience economy is a concept that can be defined as a new way of perceiving the market offer of an enterprise, focusing on the customer experience. Enterprises, both in the production and service industries, are becoming similar to one another on a massive scale, which makes it increasingly difficult to stand out. The response to this can be to offer the consumer an unforgettable experience related to a product or service provided by a company.

Methodology: This study analysed the results of qualitative research on the attitudes and opinions of Polish consumers on experience marketing.

Results/findings: The results showed that participants of the study were prepared to transition from the economy based on products or services to an economy based on experiences at a moderate level. They declared a willingness to participate in experiences offered by companies but at the same time focus on the cost and utility of them.

Purpose: Miles and Snow’s conception of strategic types is the most popular and extensively studied typology of strategic choices. Consequently, in recent years it has been related to organizational performance measures. Despite numerous studies conducted in different environmental and organizational settings, the research results of relationships between strategic types and organizational performance are ambiguous. In this paper, we seek to advance the knowledge regarding how a chosen strategic type affects organizational performance measures in the transition economy of Poland.

Methodology: Using quantitative research results, on the basis of data from 96 organizations we statistically test four research hypotheses.

Findings: Research results reveal the existence of “clear” strategic types in majority of companies but highlight moderately strong relationships between declared strategic type and organizational performance. In turn, they suggest that Prospector and analyzer strategic types promise slightly higher performance than Reactor and Defender types.

Originality: This research project on strategic types in SMEs in a transition economy is one of few dealing with this topic that have been conducted in Eastern European countries to date.

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: This study examines the determinants of ex-ante state capture in Poland.
Methodology: In order to establish the determinants of ex-ante state capture a logistic regression is estimated.

Findings: The study shows that in Poland the majority of legal acts were passed with the aim to satisfy the interest of particular groups. Furthermore, the regression analysis shows that the likelihood of state capture increases during the period of higher economic growth and local elections. The likelihood of state capture, however, declines during presidential elections. The results we attribute to different interests of political parties in the period of local and presidential elections. Finally, we fi nd that the state capture increased over the years in Poland. Additionally, we show that the EU accession did not prevent state capture in Poland. In contrast, the financial crisis of 2007 resulted in a wake-up effect and the likelihood of state capture declined in Poland.

Research limitations: In the study we employ proxies for state capture, yet we assume that corruption is a wide spread phenomenon in Poland. However, due to its nature corruption is very diffi cult to assess and measure.

Originality: The study uses a unique dataset on ex-ante state capture that was identifi ed in the legal acts that have been passed in the period 1990–2011 in Poland.

Purpose: The main target of this paper is to present the implementation of the innovation policy in Poland during the last financial and economic crisis. The main hypothesis is an assumption that if innovative activity is one of the ways of overcoming the current economic crisis, the government’s innovation policy should strongly support such activity.

Methodology: The verification of the hypothesis is based on an analysis of theoretical and empirical research conducted by governmental and non-governmental institutions.

Results: The analysis of literature as well as research conducted by governmental and non-governmental institutions showed that the innovation policy in Poland is undergoing a deep transition. The effects of the policy are currently insufficient.

Originality: Despite substantial domestic and foreign literature about the role, targets and effects of innovation policy, there is a lack of analysis of this issue during the time of the current economic crisis.

Purpose: The aim of this study is to show how the concentrations of primary income
can be related to the labour market structure in two samples of selected European
and transition countries. Then it focuses on the differences in the transitional path of
Poland and Russia that justify the current divergences in the distribution of income
in these two countries.

Methodology: This research, in its empirical part, is based on cluster analysis and
principal component analysis (PCA). By these techniques, the study defines which
main factors of the labour market are more involved in the distribution process in
the selected countries.

Findings: On the basis of the data used, it seems possible to establish a relationship
between different labour market models and the degree of primary income inequality,
focusing on which variables are more relevant with respect to the different
labour market systems.

Originality: This research deals with the aspect of the concentration of primary
income in different economies with cluster and principal component analyses, considering
the shortage of related economic data in this field of research.