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The debate on the presence of economic benefits in the European Union (EU) is not over. The study responds unequivocally to this question, with the intensity of economic development in the countries that joined the European Union in 2004 and beyond twice as high as that of the countries that joined it this year, i.e. the EU’s old ones compared to the new ones; smoothness – 1.1 times and dynamics – 1.6 times. Another important trend for further development is that, as the level of economic development increases, its smoothness is diminishing. In respect of the context of the EP of all EU Members, it turned out that the higher intensity of enlargement was characterised by higher economic levels, with similar homogeneity and almost identical values for the dynamic indicator. The introduction to the article presents the context of the studies, i.e. two groups of EU Community countries are formed according to their level of economic development and the year of their accession to the Community, as well as a survey scheme. The literature review reveals the methods used to analyse the convergence of economic development in these countries, as members of the Community. The research methodology introduces the indicator of economic development of countries and provides a methodology for assessing its dynamics. The empirical part assesses the dynamics of economic development of both groups of countries and identifies trends in terms of convergence. The discussion section summarises the consolidation and destabilising factors in the EU and the importance of the study carried out in this context. The conclusions present the main results of the studies and outline their further directions. The results of the study can be used both in the EU and for the purpose-oriented decisions of its members on further economic development.

The concept of risk is well known in the energy sector. It is normally recognized when it comes to price and cost forecasting, annual production calculation, or evaluating project lifetime. Nevertheless, it should be pointed out that the quantitative evaluation of risk is usually difficult. The discount rate is the only parameter reflecting risk in the discounted cash flow analysis. Therefore, knowledge of the discount rate along with the major components affecting its level is of fundamental significance for making investment decisions, capital budgeting, and project management. By referring to the standard coal-fired power generation projects the authors of the paper tackle the analysis of the composition of discount rate for onshore wind farm technologies in the Polish conditions. The study was carried out on the basis of a typical (hypothetical) onshore wind farm project assessed at the feasibility stage. To enable comparisons and discussions, it was assumed that the best reference point for such purposes is the real risk-adjusted discount rate, RADR, after-tax, in all equity evaluations (the ‘bare bones’ assumption); that is because such a rate reflects the inherent characteristics of the project risk. The study methodology involves the a priori application of the discount rate level and subsequently—in an analytical way—calculation of its individual components. The starting point for the analysis of the RADR’s composition was the definition of risk, understood as the product of uncertainty and consequences. Then, the risk factors were adopted and level of uncertainty assessed. Subsequently, using the classical sensitivity analysis of IRR, the consequences (as slopes of sensitivity lines) were calculated. Consequently, risk portions in percentage forms were received. Eventually, relative risks and risk components within cost of equity were assessed. Apart from the characteristics of the discount rate at the feasibility stage, in the discussion section the study was supplemented with an analogous analysis of the project’s cost of equity at the operating stage.

The purpose of the study is to assess the level of energy supply to the population of the Eastern Europe, Caucasus, and Central Asian (EECCA) countries, taking into account their financial risk and energy efficiency for households as potential socially vulnerable consumers. The research methodology is based on three approaches to determining the energy poverty of the population, as well as the integral index of energy supply to socially vulnerable segments of the population. Based on the results of the three approaches to assessing the level of energy supply to the population of EECCA countries, it has been revealed that its critical indicators are found in Armenia, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Ukraine. The multivariate analysis of variance has revealed that, in all EECCA countries, both financial risk and energy efficiency levels have a significant impact. In Azerbaijan, Kazakhstan, and Russia, financial risk has the greatest impact on the level of energy supply to socially vulnerable segments of the population, while in other EECCA countries the energy efficiency factor has the strongest impact. In a number of EECCA countries, households have poor energy supply and require efficient and reliable operation, the introduction of energy-efficient technologies for home maintenance, and the improvement of related programs. The novelty of this study lies in the proposed methodological approach to assessing the supply of energy resources to socially unprotected segments of the population, which makes it possible to determine the impact of financial risk and energy efficiency in EECCA countries.

The decentralization of the large-scale energy sector, its replacement with pro-ecological, dispersed production sources and building a citizen dimension of the energy sector are the directional objectives of the energy transformation in the European Union. Building energy self-sufficiency at a local level is possible, based on the so-called Energy Communities, which include energy clusters and energy cooperatives. Several dozen pilot projects for energy clusters have been implemented in Poland, while energy cooperatives, despite being legally sanctioned and potentially a simpler formula of operation, have not functioned in practice. This article presents the coopetitive nature of Energy Communities. The authors analysed the principles and benefits of creating Energy Communities from a regulatory and practical side. An important element of the analysis is to indicate the managerial, coopetitive nature of the strategies implemented within the Energy Communities. Their members, while operating in a competitive environment, simultaneously cooperate to achieve common benefits. On the basis of the actual data of recipients and producers, the results of simulations of benefits in the economic dimension will be presented, proving the thesis of the legitimacy of creating coopetitive structures of Energy Communities.

Our knowledge of discount rates plays an important role both in the discounted cash flow decision-making process and in the later phases of a project’s lifetime. It is useful than both for management and cash-flow monitoring purposes at operating stages. Investors putting money into power generation projects expect an appropriate rate of return to compensate them for a minimum acceptable real return available in the market (risk-free rate of interest) and the project’s specific risk. Due to its essential nature in the financial and economic evaluation of projects (it is the only parameter that reflects the risk), it is reasonable to assume that investors would also be interested in constituent components of that indicator. The discount rate is one parameter in the discounted cash flow analysis that takes into account the risk of a venture. Further, the previous research in this area has focused mainly on the dimension of this variable, and the structure of this parameter has not been dealt with any other studies. The proposed idea of this study met the expectations of the industry—it aimed to present a typical project implemented in the energy industry, a relatively simple methodology that allowed estimating the components within the cost of equity capital of the enterprise. In the power generation sector, one can find various types of discount rates—assessed for multiple technologies, at different development stages, and expressed differently. Owing to the know-how and decades-long experience, coal-fired power projects’ remarks may be a good benchmark for alternative low carbon technologies. That is why, in this work, a discount rate for valuing investment in new coal-fired power projects was evaluated. This assessment was made on the “bare-bones” assumption, meaning evaluations at 100% equity, after-tax, in constant (real) currency units. The analysis of the discount rate structure was performed by applying the procedure of the classical sensitivity analysis having the accuracy of key input parameters. Finally, the risk factors within the risk-adjusted discount rate were calculated. The obtained results showed the importance of individual risk factors within the risk-adjusted discount rate used in coal energy projects, which would enable a more pragmatic approach to controlling this parameter by decision-makers and understanding the risk.

The enhancement of the financial sector significantly drives a nation’s economy and thereby increase energy intensity. Considering this situation, the current study aims to examine the link between globalization and financial advancements with the energy intensity of the top 5 ASEAN (Association of Southeast Asian Nations) economies. The development structure of the ASEAN region is considered significant for having stable growth. The authors used the annual data from 1990 to 2018 for five of the largest ASEAN economies: Singapore, Malaysia, Thailand, Indonesia, and the Philippines. The present study used novel methodology, the Adaptive Neuro-Fuzzy Inference System (ANFIS), to examine the nonlinear behaviour among globalization, financial development, and energy intensity in the top 5 ASEAN countries. The study results using ANFIS confirm that globalization and financial development are positively correlated and have a significant impact on the energy intensity level in the top ASEAN countries. The results further suggest that globalization and financial development increase the level of energy intensity more in the countries that are developed relative to their peers in the top ASEAN countries. Moreover, the outcomes of ANFIS also suggest that those countries, which are more globalized and financially developed, have more potential to increase the level of energy intensity. Therefore, the government needs to focus more on projects that involve renewable energy and are environmentally friendly.

The determinants of the successful innovation implementation in the company include human capital and competencies of both managers and employees. In order for successful innovation management to occur, a manager must acquire or possess expertise in the domain at hand, as well as specific competencies. The paper has focused on the identification of the essential managerial competencies to promote and enhance innovation in companies. The study was conducted among managers of top, middle and operational management level in companies operating in Poland. It seems that competencies for each of the three group of managers have not been described in detail yet. The research has identified key competencies of managers in the context of implementing innovation in the company as well as differences resulting from the level of management in the organization. The research has helped to identify discrepancies between the current level of competencies needed to achieve organizational objectives, and the expected level ensuring maximum efficiency during their implementation.

Healthcare systems pose a continuous concern and challenge for countries worldwide. Effective governance plays a pivotal role in managing these systems, ensuring the well-being of current and future generations. In this context, digital transformation emerges as a key catalyst for change. E-government, with its potential to foster integrated policies and public services, holds the promise of driving healthcare transformation and improving healthcare delivery efficiency. This study aims to comprehensively analyze the impact of e-government on healthcare transformation within the context of 27 European Union (EU) countries over the period from 2011 to 2022. Leveraging a Tobit model, the results showed that the development of e-government is a positive determinant for a country's ability to achieve transformative changes in its healthcare system. The findings of this study underscore the pivotal role of digital public services in reshaping healthcare systems and advancing the delivery of healthcare services. As nations strive to meet the evolving needs of their populations and enhance the sustainability of healthcare, e-government emerges as a powerful enabler of change. This research contributes to the growing body of evidence supporting the integration of e-government in healthcare systems, promoting the efficient, effective, and equitable delivery of healthcare services. It provides valuable insights for policymakers and stakeholders, emphasizing the importance of prioritizing digital transformation to drive healthcare improvements, ultimately benefiting both present and future generations.

The main purpose of this paper is: (1) to present the theoretical approach for testing a performance management system`s consistency using the Z-MESOT framework and (2) to present the results of empirical analysis in selected manufacturing companies. The Z-MESOT framework is a managerial approach, based on the definitions of attributes for measuring and assessing the performance of a company. It is a quantitative approach which can proof the degree of the performance management system`s consistency. The quantification comes from arithmetical calculation in the Z-MESOT matrix. The consistency of the performance management system does not assure the final performance. Consistency is a part of the systemic approach to the management even if we do not call it as quality management. A consistent definition of the performance management system can help enterprises to be flexible and to be able to quickly respond in the case of any changes in the internal or external business environment. A consistent definition is represented by a set of 21 performance indicator attributes including the requirement for measuring and evaluating strategic and operational goals. In the paper, we also describe the relationships between selected requirements of the ISO 9001:2015 standard and the Z-MESOT framework.