The paper aims at the empirical evaluation of the impact of bank size (as measured by median total assets) on the value relevance of two key accounting variables, i.e. book values of equity and net earnings, in terms of their joint explanatory power in the regression model and the relative responsiveness of bank market values to the changes in those variables. The research is based on the multiple linear regression analysis after controlling for the presence of fixed and random effects. The examined sample covers all domestically-based commercial banks listed on the Warsaw Stock Exchange over the period 1998–2017. The final pooled sample comprises 18 banks and 271 bank-year observations. The findings of the study suggest that the equity investors perceive the joint informational content of book values and earnings of larger banks as more value relevant in comparison to the accounting numbers reported by their smaller peers. The responsiveness of banks’ market values to the changes in each of the explanatory variables seems, however, to be affected by their size in a different way. As expected, book values of equity have turned out to be significantly more informative for smaller banks, whereas the evidence regarding the impact of size on the responsiveness of bank market values to the changes in net earnings is ambiguous. Although larger banks appear to exhibit a higher sensitivity of stock prices to variations in net earnings per share than their smaller peers, the difference between the examined subsamples is not statistically significant.
The purpose of this article was to discuss the use of adsorption chillers for waste heat recovery. The introduction discusses the need to undertake broader measures for the effective management of waste heat in the industry and discusses the benefits and technical problems related to heat recovery in industrial plants. In addition, heat sources for adsorption chillers and their application examples were described. The principle of operation of adsorption chillers is explained in the next chapter. Heat sources for adsorption chillers are indicated and their application examples are described. The above considerations have allowed the benefits and technical obstacles related to the use of adsorption chillers to be highlighted. The currently used adsorbents and adsorbates are discussed later in the article. The main part of the paper discusses the use of adsorption chillers for waste heat management in the glassworks. The calculations assumed the natural gas demand of 20.1 million m3 per year and the electricity demand of 20,000 MWh/year. As a result of conducted calculations, a 231 kW adsorption chiller, ensuring the annual cold production of 2,021 MWh, was selected. The economic analysis of the proposed solution has shown that the investment in the adsorption chiller supplied with waste heat from the heat recovery system will bring significant economic benefits after 10 years from its implementation, even with total investment costs of PLN 1,900,000. However, it was noted that in order to obtain satisfactory economic results the production must meet the demand while the cost of building a heat recovery system shall not exceed PLN 1 million.
Onion yellow dwarf virus (OYDV), an aphid-borne potyvirus is one of the major viral pathogens of garlic causing significant yield losses worldwide. It is found almost everywhere in the world where Allium species is grown. The aim of this study was to test the presence of OYDV infection in garlic from Ethiopia. The presence of the virus was tested by Reverse transcription polymerase chain reaction (RT-PCR). The direct sequencing of the PCR product produced a sequence of 296 bp. Sequence analysis showed 89.27% sequence homology with an isolate from Australia (HQ258894) and 89.29% with an isolate from Spain (JX429964). A phylogenetic tree constructed with MEGA 7.0 revealed high levels of homology with various isolates of OYDV from all over the world and thus further confirmed the identity of the virus.
The Polish primitive horse, or konik, Poland’s only domestic breed of horse, is the only breed descended directly from wild tarpans. The PAS Research Station in Popielno is working hard to preserve the konik, which remains threatened with extinction.
This paper presents results of object-oriented classification of Landsat ETM+ satellite im-age conducted using eCognition software. The classified image was acquired on 7 May 2000. In this particular study, an area of 423 km2 within the borders of Legionowo Community near Warsaw is considered.
Prior to classification, segmentation of the Landsat ETM+ image is performed using panchro-matic channel, fused multispectral and panchromatic data. The applied methods of classification en-abled the identification of 18 land cover and land use classes. After the classification, generalization and raster to vector conversion, verification and accuracy assessment are performed by means of vis-ual interpretation. Overall accuracy of the classification reached 94.6%. The verification and classifi-cation results are combined to form the final database.
This is followed by comparing the object-oriented with traditional pixel-based classification. The latter is performed using the so-called hybrid classification based on both supervised and unsuper-vised classification approaches. The traditional pixel-based approach identified only 8 classes. Com-parison of the pixel-based classification with the database obtained using the object-oriented ap-proach revealed that the former reached 72% and 61% accuracy, according to the applied method.
The ground source of drinking water for the village of Skalice nad Svitavou is located 35 km North of Brno (Czech Republic). An evaluation of developments in selected indicators of water quality in this groundwater source in the period 2013–2017 was the essence of this work. The data was provided by Vodárenská akciová společnost, a.s., i.e. the operator. At the same time, annual monitoring of water quality in the Úmoří stream, which flows through the catchment area and can affect the quality of groundwater, was carried out. Water samples were collected in 2017–2018 from 6 profiles on the Úmoří stream and its two tributaries. Raw water from the groundwater source does not meet the requirements for drinking water in some indicators and needs to be treated. Monitoring of surface water shows that the most problematic indicator is total phosphorus, the concentration of which exceeded limit values on all sampling profiles. The highest values were found in the tributaries, where total phosphorus concentrations exceeded 10 mg∙dm–3. There are 12 municipalities in the area of interest, only two of which have their own sewage treatment plant. It is clear from the results that wastewater in some municipalities is discharged directly into the recipient and is the cause of above-limit concentrations of both phosphorus and nitrogen. Intensively used agricultural land is another major source of pollution. Based on an analysis of sources of pollution, corrective measures have been proposed to improve the quality of surface and groundwater in the area.
The paper presents results from social research on the Polish business representatives potentially interested in using the floating buildings. The main purposes of the study were to assess the level of knowledge about floating buildings and diag-nose stimulants and inhibitors of their development in the hotel, catering, and water tourism industry.
Combining the quantitative and the qualitative methodology, research was conducted using an on-line survey (CAWI)and Focused Group Interviews (FGI). Both involved a non-probabilistic, purposive sampling to reach a specific subgroup of the industry: owners or employees of catering, hotel or water tourism companies having or considering having a floating building. The group included both new and long-standing companies using facilities on water or with direct and indirect access to the water.
The study identified stimulating and inhibitory factors broken down into internal (context-independent) and external (context-dependent) conditions. Results show that in Poland floating commercial buildings are a niche topic but also a de-velopable one. Although 71% of the respondents notice difficulties resulting from the insufficient infrastructure and 66.5% of them indicate the lack of legal regulations, they also see the potential of floating buildings: depending on the industry, from 90 to 95% respondents find them “definitely attractive” or “rather attractive”. The most common reason for rejecting floating development is the lack of attractive moorages in the area (43.5% answers).
Polish research in the history of the Reformation still leaves many topics and figures barely described or analysed. Among the prominent Protestant theologians who are virtually unknown in Poland, the name of Philipp Melanchthon deserves special recognition. According to the author, this situation requires indepth research on Melanchthon; also, editions of historic sources and letters of Protestant theologians should be launched. The material that requires re-edition and, in some cases, translation into Polish includes works of authors such as Aleksander Brückner and Theodor Wotschke, who conducted their research on Protestants several decades ago.
Final quality of casts produced in a die casting process represents a correlation of setting of technological parameters of die casting cycle, properties of alloy, construction of a die and structure of gating and of bleeding systems. Suitable structure of a gating system with an appertaining bleeding system of the die can significantly influence mechanical and structural properties of a cast. The submitted paper focuses on influence of position of outfall of an gate into the cast on its selected quality properties. Layout of the test casts in the die was designed to provide filling of a shaping cavity by the melt with diverse character of flowing. Setting of input technological parameters during experiment remained on a constant level. The only variable was the position of the gate. Homogeneity represented by porosity f and ultimate strength Rm were selected to be the assessed representative quality properties of the cast. The tests of the influence upon monitored parameters were realized in two stages. The test gating system was primarily subjected to numerical tests with the utilization of a simulation program NovaFlow&Solid. Consequently, the results were verified by the experimental tests carried out with the physical casts produced during operation. It was proved that diverse placement of the gate in relation to the cast influences the mode of the melt flowing through the shaping cavity which is reflected in the porosity of the casts. The experimental test proved correlation of porosity f of the cast with its ultimate strength Rm. At the end of the paper, the interaction dependencies between the gate position, the mode of filling the die cavity, porosity f and ultimate strength Rm.