An Analysis of the Financial Liquidity Management Strategy in Construction Companies Operating in the Podkarpackie Province

The activity of each construction company in conditions of high competitiveness is exposed to a number of risks that make it difficult to maintain high financial liquidity. In order to provide the continuity of ongoing economic processes and to be able to develop, entities are forced to build optimal financial management strategies for them. Enterprises can choose between a conservative, moderate and aggressive strategy, which is largely determined by the way they manage their current assets and short-term liabilities. In the case of construction companies, it is also not without significance that they are particularly sensitive to fluctuations in the economic situation and changes in the macroeconomic environment, which imply the availability of funds. The purpose of this paper is to analyze the financial liquidity management strategy of construction sector Polish enterprises from the Podkarpackie Province in 2017–2019 and the impact of this strategy on the profitability of the surveyed entities. In order to achieve the goal, the issues related to the classification of financial liquidity and individual liquidity management strategies are discussed. The issues and the goal set determined the choice of research methods. Literature studies, the Mann–Whitney U test, cluster analysis and Ward’s method were used. The research was carried out on a group of the 10 largest construction companies from the Podkarpackie Province. The selection of entities for the research was deliberately based on enterprises that submit their financial statements to the National Court Register. The conducted research showed that small and large enterprises applied different liquidity management policies even though they operate in the same industry and region. The small entities preferred a conservative strategy, while large entities preferred a moderate strategy. The existence of an inverse relationship between the phenomenon of financial liquidity and profitability of economic entities was also confirmed.

The financial condition of selected enterprises from the Świętokrzyskie voivodeship during the COVID-19 pandemic – A survey analysis

Purpose of the study: This article aims to assess the financial condition of selected enterprises from the Świętokrzyskie Voivodeship during the ongoing COVID-19 pandemic. Methodology: The article presents the results of proprietary surveys on the usefulness of the economic entities' cost accounting system to manage their costs in the conditions of the COVID-19 pandemic. These studies were carried out using the Computer-Assisted Web Interview method. Economic entities from the Świętokrzyskie voivodship with an entry in the National Court Register were invited to the survey via email. They were commercial law companies, mainly limited liability companies, joint-stock companies, etc. Main Findings: The main conclusion from the conducted research is the statement that the difficult economic situation of the market sector in Poland does not always translate into the financial condition of enterprises. The common opinion about the financial problems of Polish companies caused by the COVID-19 pandemic turns out to be wrong. The examined economic entities do not struggle with the issue of losing financial liquidity at all. On the contrary, over 40% of them indicated an improvement in the financial result in 2020 compared to 2019. Applications of this study: The results of the conducted research confirm that the COVID-19 pandemic in Poland did not significantly worsen the financial situation of the surveyed business entities; on the contrary, the vast majority of them do not and have had no problems with maintaining financial liquidity. The originality of this study: The analysis of the literature on the subject showed that there is no data on the assessment of the financial condition of enterprises in the conditions of the COVID-19 pandemic, taking into account at the same time the organizational and legal form of the studied entity and the area of ​​its operation.

Understanding National Remedies and the Principle of National Procedural Autonomy: A Constitutional Approach

This article provides a constitutionally grounded understanding of the vexing principle of ‘national procedural autonomy’ that haunts the vindication of EU law in national court. After identifying tensions and confusion in the debate surrounding this purported principle of ‘autonomy’, the Article turns to the foundational text and structure of Union law to reconstruct the proper constitutional basis for deploying or supplanting national procedures and remedies. It further argues that much of the case law of the Court of Justice of the European Union may be considered through the lens of ‘prudential avoidance’, ie the decision to avoid difficult constitutional questions surrounding the principle of conferral. As the last Part shows, a constitutional understanding of ‘national procedural authority’—not ‘autonomy’—helps clear up some persistent puzzles, and provides critical guidance for when deference to national procedures and remedies is appropriate, and when such deference is misplaced. Comparative references inform the argument along the way.

The Role of the CJEU in the Strengthening of the Participation of Third-Country Nationals in the Academic Life in the EU – Analysis of the Ruling of the CJEU in Case M.A. v Consul of the Republic of Poland in N

The analyzed ruling is the first judgement which the Court of Justice passed in order to provide interpretationfor the new Student Directive (2016/801 of 11 May 2016 on the conditions of entry and residence ofthird-country nationals for the purposes of research, studies, training, voluntary service, pupil exchange schemesor educational projects and au pairing). Due to its judiciary activism, the Court was able to find a connectionbetween the case pending before a national court and EU law in the case of M.A. In the end, the Court finallydecided that in the case at issue, regarding the rights of a foreign national to apply for a residence permit for thepurpose of enrolling in second-cycle studies programme in Poland, the procedure of applying for a long-stay visaon the grounds of national law must be safeguarded by the guarantees under Article 47 of the Charter of FundamentalRights. The guarantees apply to the actual states in which EU law is applicable – in this case the “StudentDirective.” It seems that the ruling in the case of M.A. will play a crucial role in facilitating students’ – TCNs’ – entryinto the territory of the Republic of Poland, while the Polish legislator, in all probability, will be obliged to changethe provisions of the national law in such a way as to make it possible for future students to access a full array oflegal remedies against the negative decisions of consuls.

Court Decision Contra Legem or an Application of the Principle of Proportionality in Concreto?

The article analyses cases of non-application of a national legal rule by cassation court judges hearing civil cases where, based on the analysis of concrete circumstances, the application of such a rule, in the opinion of judges, would lead to an infringement of the principle of proportionality and the European Convention on Human Rights. Decisions of two courts of cassation belonging to the continental law tradition (the Lithuanian Supreme Court and the French Court of Cassation) illustrate such a control of the application of the principle of proportionality in concreto. While national law is subject to an increasing impact of the case law of supranational courts, the legitimacy of such national court decisions is discussed also in the context of the transformations taking place in regard to the role of a judge.

The Inter-American Rule of Law in South American constitutionalism

The objective of this text is to present the modification of the conception of Rule of Law in the South America constitutionalism, from the dialogue and synergy between the Inter-American System of Human Rights and the new constitutions that emerged after dictatorships, authoritarian regimes, and internal wars, taking Operation Condor as a clandestine inter-American system or as unconventional status quo. We problematize how it is possible to speak of "Inter-American Rule of Law", which means the reconstruction of that State compatible with the ACHR in the Legislative, Executive and Judiciary spheres, as well the conventionality control and the standards emanating from the IACourtHR to laws, public policies, and national court decisions. Therefore, we defend the thesis that this dialogue can be the key to access the engine room of the constitutions, with the pro persona principle. The methodology used was a theoretical and normative approach, from a hypothetical deductive perspective and prioritizing as sources the bibliography and the caselaw of the IACourtHR.

The EU Battle on the Last Word and the Environment

In May 2020, the German constitutional court decided that under certain conditions, a decision by the Court of Justice of the European Union should or could be ignored by a national court, which would have the last word to decide on the compatibility with the EU Treaties of a measure adopted by an EU institution or body. The contribution examines, whether this German decision is compatible with the EU Treaties and concludes that it this is not the case.

Case of “Levchuk vs Ukraine” and its importance for the protection of women from domestic violence in Ukraine

The paper is devoted to the characterization and analysis of the content of the key positions of the European Court of Human Rights embodied in the judgment in Levchuk v. Ukraine and related to the protection of the right to a fair trial, the right to an effective remedy and the right to respect for private and family life in the context of the protection and restoration of the applicant`s violated rights in connection with the commission of domestic violence against her. Therefore the purpose of the paper is to establish the content of the ECtHR’s legal opinions and positions embodied in the judgment in Levchuk v. Ukraine in the light of combating domestic violence, protecting victims and the prospects of the Court’s impact on domestic violence prevention and protection in Ukraine. Author states that the ECtHR's findings as to the need for the national court to take into account the risks of future physical and psychological violence by the applicant's ex-husband and cohabitant in deciding on his eviction as a realization of a right to an effective remedy not only per se, but also in an expedited trial. These components suggest that the Court in this case established a positive obligation on the part of the State of Ukraine through its judicial and law enforcement system to ensure the effective protection of the applicant from domestic violence. It is argued that despite the application by the ECtHR in this case only individual measures in the form of payment of compensation to the applicant, the precedent nature of the judgment in Levchuk v. Ukraine and the Court’s legal findings in the context of combating domestic violence in our country can lead to gradual and thorough regulative and administrative changes, approaching the moment of ratification of the Istanbul Convention by Ukraine.

Protecting the Union Rule of Law Through National Court Scrutiny? A Comment on Joined Cases C-354/20 PPU and C-412/20 PPU L and P’

This contribution is a comment on the ECJ’s judgment of 20th December 2020 in L and P, which is a follow-up on the Court’s earlier ruling in LM – Minister for Justice and Equality (Deficiencies in the system of justice). It covers the key findings of the Advocate General’s Opinion, the judgment of the Court of Justice and the following implications for the national courts within the Judicial cooperation in criminal matters. The analysis investigates the case-law from a constitutional as well as a national perspective, with its main focus on pivotal considerations for the national courts within the execution of a European Arrest Warrant issued by a Rule of Law-backsliding country. The theoretical horizontal dialogue established by the Court is scrutinised in an attempt to concretise the diverse steps of the national examination of the judiciary in the issuing Member State.

Gondolatok a mesterséges intelligencia egyes polgári jogi kérdéseiről

Összefoglaló. A tanulmány kezdő axiómája a mesterséges intelligencia biztonságos alkalmazása. A biztonságos alkalmazás egyik aspektusa a jogi biztonság, az a jogi környezet, amelyben a felmerülő jogi kérdések rendezésére alkalmazható keretrendszer áll rendelkezésre. A tanulmány a Semmelweis Egyetem projektjében fejlesztett mesterséges intelligencia alkalmazásának olyan polgári jogi problémáit vizsgálja, amelyek a mindennapi hasznosítás során merülhetnek fel. A tanulmány következtetése szerint a vizsgált mesterséges intelligencia szerzői műnek minősül és több védelmi forma is alkalmazható. A jogi szabályozás de lege ferenda kiegészítésre szorul a szerzői mű folyamatos változása okán. Szükséges rögzíteni egy referenciapontot, amely a felelősség kiindulópontjául szolgál. Summary. The starting point of the study is the safe use of artificial intelligence. Legal certainty is one aspect of safe usage, the legal environment in which a framework is available that can be used to resolve legal issues. The paper examines the civil law issues that may arise in the everyday use of the artificial intelligence application developed within the Semmelweis University project. The study will first focus on the legal protection of the Semmelweis AI, including whether this protection is currently international, regional (European Union) or national and which of these is the optimal choice. The study also reflects on the legislative preparatory work of the European Union in this regard. Our hypothesis is that the majority of civil law areas concerning AI can be regulated within a contractual framework. The AI software developed by the project is a forward-looking medical and practical solution. If we want to use a legal analogy, we can imagine its operation as if we had a solution that could analyse all the national court decisions in each legal field and provide an answer to the legal problem at hand, while simultaneously learning and applying the latest court decisions every day. For this AI solution, the diagnostic process must be carefully examined in order to identify the legal problems. I believe that the optimal solution is to classify this AI application as ‘software’ because this allows property rights to be acquired in their entirety and it opens the door to clarifying individual associated usage and copyright by contract. An important civil law question arises in relation to parallel copyright protection, when the individual personal contributions (creative development work) to the software cannot be separated. Therefore, it is important to record the process and to separate the individual contributions protecting by copyright. The AI plays a questionable role in the diagnostic process. If the software itself cannot make a decision, but only provides a framework and platform, then it will not be entitled to co-ownership relating to the diagnostic images (e.g. just as a camera will not own the rights to the pictures taken with it). However, if the algorithm is part of the decision-making (e.g. the selecting of negative diagnoses), it would possibly be co-owner of the right, because it was involved in the development of the classification. All this should be clearly stated in the licence agreement, based on full knowledge of the decision-making process. However, de lege ferenda, the legal regime needs to be supplemented in view of the constant changes of the copyright work and the changing authors. There is a need to establish a specific point in the legislation that serves as a reference point for liability and legal protection. The issues under consideration are of a legal security nature, since without precise legal protection both the creator of artificial intelligence and the persons who may be held liable in the event of a malfunctioning of such systems may be uncertain.