The main objective of this article is to assess the potential of financial innovations as a tool for strengthening the resilience of the agricultural sector in Poland, with particular emphasis on the role of mixed financing, and to identify factors influencing farmers’ propensity to implement these innovations. Our attention is focused on mixed instruments represented by a combination of grants with loans or credit. This research is based on a critical literature study method, a logistic regression model, and a direct survey method using a structured questionnaire survey. The results show that the implementation of an innovative financial instrument combining a grant with a loan or credit has the potential for development. It is perceived by farmers as a reliable and attractive way of financing. The propensity to utilise this instrument has been demonstrated to increase significantly among farmers for whom agriculture is the main source of livelihood and who have previous experience with credit. The influence of farmers’ perceptions of insurance as a risk management tool, as well as the age of farmers, is also a critical factor in this analysis. Less interest in this financing option is characteristic of farmers with traditional, extensive agricultural production. Our research identifies market trends, contributes new data, and provides an understanding of the impact of different factors on the propensity to use an instrument combining subsidies with a loan or credit, providing new insights into complex decision-making mechanisms in agriculture. The results of the research can be useful for policymakers and financial institutions to better tailor innovative financial product offerings to farmers’ needs.

Subject and purpose of the work: The subject of the study was corporate social responsibility (CSR) in small and medium-sized enterprises (SMEs) in Poland. In turn, the aim of the study was to identify the benefits and barriers associated with the introduction of CSR in SMEs and to present the practices applied by such enterprises in the indicated scope. Materials and methods: A desk research analysis was carried out in this article, using data from PARP statistics, reports and scientific publications. Results: The findings address the awareness of CSR among SMEs and present examples of good practice by these companies. The role of the upcoming ESG and CSRD regulations, which are expected to influence sustainability reporting by SMEs, is highlighted. The research shows that the level of recognition of the term CSR among Polish SMEs is low. Only 21.8% of surveyed entrepreneurs were aware of the term. Nevertheless, among companies aware of the importance of CSR, the majority perceive it as an important element of business activity. Among the CSR practices applied by Polish SMEs, those related to employee health are mentioned most frequently. Many companies also engage in dialogue with employees in order to better understand their needs and adapt their activities to them. There is also a growing environmental awareness among entrepreneurs, which translates into the implementation of pro-environmental solutions. Conclusions: The low level of CSR awareness among SMEs in Poland indicates the need for further educational activities in this area. Implementing CSR in SMEs brings many benefits, such as improving the company’s image, increasing customer and employee loyalty, reducing operating costs and increasing competitiveness. However, there are barriers to implementing this strategy, such as limited funds, lack of knowledge, insufficient staff and competitive pressure, among others.

Subject and purpose of the study: The subject of the study was the characteristics of cash payments, their role in the payment system and the changing preferences of consumers toward cash and non-cash transactions. The purpose of the research was to gain knowledge about the importance of cash payments in everyday transactions, to assess their advantages and disadvantages compared to non-cash payments, and the effects of cash payment limits on the economy and society. The following research hypothesis was formulated: cash payments, despite the growing popularity of non-cash transactions, still play an important role in everyday transactions, and the introduction of cash payment limits, while it may contribute to increasing financial transparency and reducing the shadow economy, comes with challenges, such as digital exclusion and limiting consumers’ freedom of choice. Materials and methods: Statistical data mainly from reports of the National Bank of Poland and the European Central Bank on cash and non-cash transactions in Poland and the European Union were analyzed. A SWOT analysis was used to assess the consequences of introducing cash payment limits. A literature study was also conducted and the results of an empirical study by the NBP, based on diaries recording consumers’ daily transactions, were presented. Results: The results of the study showed that despite the growing popularity of non-cash transactions, cash payments remain an important part of the payment system, especially in low-value transactions. Seasonal changes in the number of cash transactions are associated with the holiday and Christmas seasons. Cash is characterized by high accessibility, immediacy and anonymity, which is valued by consumers. Conclusions: Limits on cash payments contribute to improving financial transparency and reducing the risk of financial crime and the shadow economy, among other things, but they also come with challenges, such as digital exclusion and potential data privacy issues. Decisions on the introduction of limits should take into account both potential benefits and risks to ensure the sustainability of the payment system. The proposed SWOT analysis is a versatile tool that can support various actors in evaluating and optimizing financial policies at different levels, both nationally and internationally.

The purpose of the article. The aim of the article is to assess the level of development of cashless payment in the European Union countries between 2019 and 2023. The following research question was formulated – which European Union countries are leading, and which are at the bottom of the ranking in terms of the level of development of cashless payment? Methodology. The source of data on non-cash transactions was statistical data from the European Central Bank's ECB Data Portal. The method of linear ordering – standardized sums – was used to create a ranking of the European Union countries in terms of the level of development of cashless payment. Results of the research. An empirical study using the method of standardized sums made it possible to compare the level of development of cashless payment in the EU-27 countries and to identify the leaders and laggards in this respect. The results of the study proved that in the EU-27 countries, non-cash trading develops at a high and medium level. The leaders in this respect included Germany, France and Italy, while the worst ranked countries were Malta, Bulgaria, Latvia, Estonia and Cyprus. The reason for the underdevelopment of cashless payment in these countries can be attributed to an underdeveloped payment infrastructure, fewer institutions offering payment services, lower levels of investment in modern technology, and a payment culture that may be due to a tradition of attachment to cash and a lack of confidence in cashless forms of payment. In addition, the lack of appropriate regulation and government initiatives may influence their lower popularity.

The purpose of the article. The purpose of the study was to examine how the returns on shares of companies entering the Warsaw Stock Exchange as part of initial public offerings (IPOs) evolve, both in the short and long term. The study aimed to verify the hypothesis of the existence of anomalies on the main market of the WSE, consisting in the underpricing of shares in the short term and their overpricing in the medium and long term. Methodology. The basis of the study was the analysis of historical data on returns on shares issued in initial public offerings. The evaluation of the phenomenon of undervaluation of share prices from IPOs was conducted using the immediate return (IR) index and its adjusted version (AIR). In turn, simple rates of return (BHR) and abnormal rates of return (BHAR) were used to assess the overvaluation of share prices over the longer term. Results of the research. The study confirmed the occurrence of share price undervaluation during IPOs on the Polish capital market in the years 2010–2024, as evidenced by an average immediate return (IR) of 9.73%. The highest average returns in the short term were recorded in 2020, exceeding 40%, mainly due to debuts of companies from the computer games sector. In contrast, in the long term, the weakest performance, characterized by negative average returns (BHARs) in all periods studied, took place between 2019 and 2024, associated with the economic difficulties following the pandemic and the preponderance of companies making losses.