This work examines the consequences of the January Effect on the world advanced emerging markets such as the Johannesburg Stock Exchange. The status of the advancement of South Africa has changed significantly during the analysed period. The examination is based on past research conclusions, empirical studies and the calculations of stock returns over the period of the last twenty years. The evidences gathered in this study examine the seasonality effect, measuring mainly the well-known January Effect using various statistical analysis tools. The results support or deny the existence of a calendar anomaly marked by excessive returns on the market at the beginning of a year. The existence of these anomalies on financial markets often delivers contradictory results for many developed or developing countries. Nowadays, many research papers reflect the lack of analysis of this seasonality on the world advanced emerging markets such as the Johannesburg Stock Exchange.

Aviation is one of the fastest growing branches of transport. Its special development can be observed in Asia. Despite that aviation is global, its detailed specificity in Asia is different than in Europe. The comparison of the aviation market in Asia and Europe allows not only learning differences between the two markets but also shows similarities and opportunities for better regional communication. The work discusses the concepts of transport accessibility, measures of effectiveness and competitiveness of the offer of connections between air carriers and between airports. Moreover work discusses also new orders of planes and new concepts of air connections. The work also touched problem of size of used aircraft, frequency of connections, and the impact of low-cost airlines on the quality and prices of connections on both continents. In this work, we will find out that both markets, although seemingly similar, differ greatly but the main link between them is competitiveness.

The main purpose of this article is to find out if there is a correlation between the announcement of the stock split and the market price. This analysis comprises 76 stock splits from Warsaw Stock Exchange which took place between 2011 and 2016. In this study the Market Model was used, and the deviations from the norm were shown as abnormal rates of return and cumulated abnormal rates of return. The differences of the rates of return are characterized by statistical significance.

This paper examines the role of the media during the terrorist attacks on 11th September 2001 on the World Trade Center. It focuses on television news in the USA, which has been reporting tragedies since September 11. The article describes the influence the media had on society and how it garnered public support for a policy against terrorists. This evaluation bases on a number of surveys and a comparison of similar situations prior to 9/11. The paper shows that there is a fine line between the good and bad side of the media. It reveals that TV news presents too many violent images and proves that sometimes consequences cannot be so easily simplified. Americans suffer from mental illnesses because of these images. This proves that the media has serious advantages but disadvantages too. The paper gives data and figures which help us understand why spending a lot of time watching TV news can cause health problems.

The body of research on the market orientation used most representative samples from
post-communist country – Poland and its small-medium enterprises sector. According
to the literature review, very few studies have been conducted about effect of turbulent
environment in home country and internationalisation of SMEs. Additionally, previous
studies from developed countries might not be applicable to post-socialists countries,
whereas entrepreneurs differ with their entrepreneurial attitudes. The research is
integrative and focuses on the role of environmental turbulence caused by recent political
swift in Poland. Study also focus on governmental support programmes. This study
employs semi-structured interviews to gain understanding of the phenomenon. The study
also benefited from input from the different Polish sectors (IT, healthcare, construction,
technology), whereas sample is chosen by the most varied companies as well as leaders
from the sectors in order to gain additional insights.

This article refers to the latest regulation covering the administrative monetary penalty under the Code of Administrative Proceeding. The author presents an evolution of the idea of this sanction in the Constitutional Tribunal case-law and analyses whether the legislator has taken into account the suggestions of judicature and doctrine in which a new regulation concerning the shape of this sanction and the principles of its imposition. The analysis is conducted by examining selected elements of the administrative monetary penalty in the Constitutional Tribunal and administrative courts case-law. The author also interprets an adopted solution from criminal law. The final part of the article contains de lege ferenda conclusions and a summary of performed analysis.

The following article is an attempt to give an answer to the question about, whether and how an entrepreneur, by making a car available to an employee, which is previously leased, is entitled to a full deduction of input Value added tax (VAT) on any related expenses. The jurisdiction on this issue is not uniform and the interpretation of article 86a sec. 1 Act on value added tax, still poses many problems. The examples of the sentences in the article, clearly and concisely define, what legal premises the entrepreneur must fulfil in order to benefit from the right to deduct VAT. By analysing them over the past few years it may also be observed that the case law does not go in the direction the entrepreneurs are expecting, so they will have to be patient and count on the Court’s favour.

In addition to salaries, many employees receive non-salary benefits. The issue of
recognition of these benefits for the purpose of the personal income tax presented
inconsistencies between the judiciary and the tax authorities until the judgment of the
Constitutional Tribunal. Due to the lack of a uniform treatment of non-salary benefits, each
time employers were forced to decide whether to reduce the employee’s income by the
amount of the personal income tax payment for non-salary benefits.
This article attempts to verify how the judgment of the Constitutional Tribunal dated
July 8, 2014 (nb 7/13) influenced the interpretation of the administrative courts and the
tax authorities regarding the recognition of tax-free treatment of the non-salary benefits.
The purpose of this article is also to try to answer the question: what are the non-salary
benefits and which of them are subject to taxation? Do they non-salary benefits include:
participation in training, integration events, purchase of medical packages?
This article points to the changes that have taken place as a result of the Constitutional
Tribunal’s ruling by showing the interpretation of the administrative courts and tax
authorities before July 8, 2014, and describes today’s landscape in the area of tax treatment
of non-salary benefits.

Homicide followed by the perpetrator’s suicide is a rare incident in real life. There are many terms that describe this phenomenon – extended suicide, dyadic death, homicide-suicide, post-aggressive suicide etc. These terms are tend to be used as synonyms. However, after their meticulous analysis, they relate to different behaviours. The aim of this study was to investigate, in the aspect of substantive criminal law, the concept of „extended suicide” and to define the perpetrator’s liability for homicide in the aspect of extended suicide. As a result of the analysis of the available sources, not only the features of the phenomenon but also psychological profile of the perpetrator was specified. Moreover, the term extended suicide was defined. Subsequently, based on the information concerning extended suicide, author created qualification of murders by the perpetrator in the case of his failed suicide attempt. The perpetrator of the murder may be liable to criminal prosecution under article 148 § 1, 2 pt. 3 of the Polish Criminal Code. However, due to the fact that the perpetrator most often suffers from mental disorders of varying degrees of severity, the provisions of article 31 § 1 and 2 of the Polish Criminal Code – insanity and diminished capacity – will be applied in this situation.