Decision‑making process is an individual matter for each investor and the strategy they choose, reflects the level of accepted risk. Nevertheless, any investor wants to minimize huge losses while maximizing profits. As far as the measure of risk is concerned, literature is full of examples of tools which help to evaluate the risk. However, the level of the risk usually differs, depending on circumstances. In this paper we present two non‑classical risk measures: Omega performance risk measure and GlueVaR risk measure. Both of them require a threshold to be set, which reflects the starting point for the investment to be considered as a loss. The effectiveness of the Omega and GlueVaR risk measures is compared using the example of metals market investments.

Investing in the economic world, characterized by a high level of uncertainty and volatility, entails a higher level of risk related to investment. One of the most commonly used risk measure is Value-at-Risk. However, despite the ease of calculation and interpretation, this measure suffers from a significant drawback - it is not subadditive. This property is the key issue in terms of portfolio diversification. Another risk measure, which meets this assumption, has been proposed - Conditional Value-at-Risk, defined as a conditional loss beyond Value-at-Risk. However, the choice of a risk measure is an individual decision of an investor and it is directly related to his attitudes to risk. In this paper the new risk measure is proposed - the GlueVaR risk measure, which can be defined as a linear combination of VaR and GlueVaR. It allows for calculating the level of investment loss depending on investment’s attitudes to risk. Moreover, GlueVaR meets the subadditivity property, therefore it may be used in portfolio risk assessment. The application of the GlueVaR risk measure is presented for the non-ferrous metals market.

Market efficiency assumes that asset prices should be characterized by randomness and unpredictability, so that potential market participants are not able to generate above-average profits. This means that there should be no seasonal phenomenon in time series, which clearly projects a certain pattern of behavior of financial assets. The paper is an attempts to verify some specific seasonal effect called “the day of the week” on the precious metals market. The selection of this area is not accidental. Precious metals are an alternative to classic capital investments, especially in the case of financial and economic crises. In addition, the literature shows a gap in this area in terms of dynamics analysis on commodity markets, if compared to capital market. The analysis of day of the week effect was carried out taking into account both conditional mean and conditional variance. Results are not clear and strongly depends on the type of precious metal.

Research objectives (aims) and problem(s): The aim of this study was to identify differences in the level and determinants of intercultural communication competence among school pupils in the Polish–Czech border region. Specifically, we sought to determine whether statistically significant differences exist among the study groups, and which variables—such as environment, gender, faith, national identity, and community affiliation—shape intercultural communication skills. Research methods: The study employed a diagnostic survey using a questionnaire. It involved 464 participants across three groups: pupils from bilingual schools in the Czech Republic [A], pupils from Polish schools located near the border [B], and a control group of pupils from public schools in the Silesian Voivodeship. Process of argumentation: Zaolzie represents a borderland with a unique cultural identity and a longstanding tradition of multiculturalism. This raises the question of whether, in such an environment, students’ levels of intercultural communication competence differ from those in other regions, or whether their declared views are shaped by different variables. Research findings and their impact on the development of educational sciences: The study found that the local context—the environment in which respondents were raised and educated, situated at the cultural and national border between Poland and the Czech Republic—does not significantly influence their level of intercultural communication competence or their expectations regarding intercultural education. The data indicate that students’ competences are similar to those of adolescents from other regions, and that beliefs, views, and attitudes toward multiculturalism are only minimally affected by the examined variables.