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Krakow, Poland

Kraków University of Economics is one of the five Polish public economics universities. CUE came into existence in 1925. It is the biggest university of economic science in Poland. Kraków University of Economics is one of the three largest universities in Kraków, after Jagiellonian University and the AGH University of Science and Technology. The motto and mission of the university in Latin is "Rerum cognoscere causas et valorem" Its 17-acre campus is in the vicinity of historical medieval Old Town of Kraków and easily accessible both on foot or by public transportation. In addition to the main campus in Kraków, the university has seven Remote Teaching Centers in the cities of the region. Wikipedia.

Fiedor P.,Cracow University of Economics
European Physical Journal B | Year: 2014

Recently the interest of researchers has shifted from the analysis of synchronous relationships of financial instruments to the analysis of more meaningful asynchronous relationships. Both types of analysis are concentrated mostly on Pearson's correlation coefficient and consequently intraday lead-lag relationships (where one of the variables in a pair is time-lagged) are also associated with them. Under the Efficient-Market Hypothesis such relationships are not possible as all information is embedded in the prices, but in real markets we find such dependencies. In this paper we analyse lead-lag relationships of financial instruments and extend known methodology by using mutual information instead of Pearson's correlation coefficient. Mutual information is not only a more general measure, sensitive to non-linear dependencies, but also can lead to a simpler procedure of statistical validation of links between financial instruments. We analyse lagged relationships using New York Stock Exchange 100 data not only on an intraday level, but also for daily stock returns, which have usually been ignored. © 2014 The Author(s).

Falniowski F.,Cracow University of Economics
Entropy | Year: 2014

We consider the concept of generalized Kolmogorov-Sinai entropy, where instead of the Shannon entropy function, we consider an arbitrary concave function defined on the unit interval, vanishing in the origin. Under mild assumptions on this function, we show that this isomorphism invariant is linearly dependent on the Kolmogorov-Sinai entropy. © 2014 by the author.

Fiedor P.,Cracow University of Economics
Physical Review E - Statistical, Nonlinear, and Soft Matter Physics | Year: 2014

In the last few years there have been many efforts in econophysics studying how network theory can facilitate understanding of complex financial markets. These efforts consist mainly of the study of correlation-based hierarchical networks. This is somewhat surprising as the underlying assumptions of research looking at financial markets are that they are complex systems and thus behave in a nonlinear manner, which is confirmed by numerous studies, making the use of correlations which are inherently dealing with linear dependencies only baffling. In this paper we introduce a way to incorporate nonlinear dynamics and dependencies into hierarchical networks to study financial markets using mutual information and its dynamical extension: the mutual information rate. We show that this approach leads to different results than the correlation-based approach used in most studies, on the basis of 91 companies listed on the New York Stock Exchange 100 between 2003 and 2013, using minimal spanning trees and planar maximally filtered graphs. © 2014 American Physical Society.

The main goal of this study is to understand the determinants of enterprise system (ES) adoption success in the case of projects implementing the full scope of a system, i.e. those where ES covers the most important business processes of the company. Determinants are understood as issues which have an influence on ES adoption success. This article draws from the experience of 35 ES adopters implementing multiple system modules mostly in manufacturing companies. Using a success factors model covering a wide range of potential success determinants, this study extracts the most significant factors influencing full-scope implementation projects. Employing factor analysis and multiple regression techniques, the results of this article suggest that the main determinants of full-scope ES adoption success are connected with the project team's involvement and empowerment, as well as with system reliability and cooperation with the system supplier. The article concludes with implications and directions for future research. © 2010 Taylor & Francis.

Soja P.,Cracow University of Economics
Information Systems Management | Year: 2011

In this study the author investigates determinants of enterprise system adoptions in a transition economy setting drawing from the experience of 189 practitioners from Poland. Building on grounded theory and employing stakeholder analysis, the results reveal crucial considerations and relationships among key stakeholders involved in the project. The main findings suggest that the most critical determinants are people-related and that the determinants change in time from issues related to infrastructure and financial resources towards human factors. © Taylor & Francis Group, LLC.

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