In the modern world, the terms enterprise value and valuation are of great importance. Knowledge about how much an enterprise is worth is of fundamental importance for both the owner of that company and investors when negotiating the price of an enterprise at the time of conducting a commercial transaction. The article presents the goals of the company’s valuation and characteristic stages of the company’s life at which such valuation is necessary. The article classifies the methods of enterprise valuation used today. On this basis, the valuation methodology is presented according to the MDI-R concept (Assets, Income, Intellectual Capital-Market), which in a broad spectrum measures the effectiveness of the company’s operations and, in accordance with the current features of good valuation, aims to determine the fair value of the company. The purpose of the article is to demonstrate the need to improve the code of conduct and valuation standards. As part of the implementation of the objective, multi-faceted and complex valuation issues are presented, as well as factors that may distort the determination of fair value. The methodology of the study is based on inferences about the methodology of business valuation, and verification is based on practical examples, by which a hypothesis on the existence of critical elements of valuation is verified that allows the use of broad subjectivity in estimating the value of assets. At the same time, the factors that determine the possibility of the existence of too wide a subjectivity in estimating assets, which is in contradiction with the features of good valuation, are presented. The attempt is made to draw attention to the threats arising from modern business valuation methodologies and their challenges in the future. Additionally, this article offers the authors’ proposed hybrid method MDI-R, which draws from existing solutions to improve their functionality and applicability.

There is a high demand for energy production, which is dependent on energy consumption and input. This demand affects socioeconomic development and quality of life. However, the lack of an innovative formal, legal, and organizational structure regarding public space in the European Union (EU) is problematic; one solution could be preparing and implementing grid services as part of distributed energy solutions (based on local and regional renewable resources), and involving local public, private, and profitable entities. Autonomous energy regions (AREs) are a response to this type of problem, as they can contribute to the creation of organizational and legal tools that counteract the marginalization of crisis areas, where undesirable socioeconomic phenomena intensify (and the conditions and management of the natural environments deteriorate). Investments in energy infrastructure based on distributed energy (mainly renewable energy sources) will be a tool for socioeconomic changes in affected areas. In terms of practical considerations in the energy field (i.e., keywords, barriers to energy consumption, and access to it), it is important to formulate recommendations regarding the creation, management, identification, and designation of autonomous energy regions (AREs) in the EU. In this case, postal questionnaires and a taxonomic method (Hellwig’s method) were used. It is worth emphasizing that the creation of AREs is a modern requirement in connection with global CO2 emissions. Sustainable low-emission economies, according to the conducted research, may be introduced to the entire European Union. The lack of proposals for direction of regional development, in terms of autonomous energy regions, was indicated in this paper. There is a need to formulate specific recommendations regarding the possibility of creating and managing autonomous energy regions (AREs) in the European Union. Fortunately, there are natural, organizational, and social opportunities to begin this process. For example, local authorities may become leaders in creating a network of connections in emerging AREs, and communities might willingly make the effort to co-create AREs.

This paper analyzes the actions that improve innovativeness in production enterprises in the Silesian province. Innovation is one of the elements that allows to achieve a competitive advantage. It is justified to research various factors that are important in improving innovativeness. The research includes selected production enterprises in the Silesian province, adopting the descriptive statistics measures and statistic tests: random sample test, chi-square independence test and the non-parametric Kruskal-Wallis test based on a survey questionnaire. Some of the most important factors determining the possibilities of innovation by manufacturing companies were detected contacts with other enterprises, R&D centers and counseling institutions, competitive position of the company, and creating appropriate incentive systems.

The aim of the article is to present the most important elements to be implemented in the European Union energy policy in the 2030 perspective in the context of sustainable development of the Member States. The solution to the too high emissivity of individual economies in the European Union is the energy mix, which will establish a compromise in the so-called the triad of EU policy goals. This is undoubtedly a current climate challenge for the modern world, which also has a direct impact on the economic situation of EU countries. The basis of the presented considerations and recommendations is a literature review on the subject and a statistical analysis of empirical data of the largest statistical organizations in the EU and the world. The starting point for the analysis is the assessment of the state of the energy sector in the EU. Therefore, the goals and tasks until 2030 result from many conditions of the energy sector. The article provides recommendations for the EU on future climate and energy policy, analysing the practices of member countries empirical and data compiled by the world’s largest organizations and institutions, such as the International Atomic Energy Agency (IAEA), the World Nuclear Association (WNA), Eurostat, and the International Energy Agency (IEA). The strategic goals of the EU climate and energy policy presented in the study show the necessary challenges for the implementation of sustainable development in the analyzed sector, which is the driving force of world economies. The conclusions were presented in accordance with the current economic efficiency of various energy sources and the necessity to seek a compromise among the so-called a triad of goals defined in EU policy.

Abstract. e globalisation process has provided us with the possibility of exchange and competition growth, and thus, has brought about the issue of economic (business) creation in the context of the new foreign exchange risk mitigation instruments. e author presents the division and perce ntage proportion of innovative risk management instruments used in practice in the Polish economic reality, and compares it to foreign markets (the USA and Germany). Moreover, an attempt is made to de ne what nancial innovations are and analyse the available alternatives and instruments provided by the currency market and used to manage a company on the global market. Finally, chances and threats presented by nancial innovations are also demonstrated.

This is an analysis of the climate and energy policy of the European Union and its impact on the economic situation of Poland. The aim of the article is to show the direct impact of modern European Union policy in this area on the economic situation of states, in particular Central Europe. Simultaneously, we develop recommendations for the Polish and the European Union in terms of future climate and energy policy through the analysis of empirical data and practices followed by the European Union countries. The basis of the presented considerations and recommendations is a literature review of the studied subject and a statistical analysis of empirical data, which indicate the financial effectiveness of different energy sources and processes taking place in the world under the discussed issues.

The crisis in financial markets has contributed to a significant downturn in the global economy. Significant perturbations and high volatility have also been observed in the forex market. The purpose of this article is to determine which variables from the financial and commodity market affect the exchange rate changes. The article presents the concept of FTS analysis (Fundamental -Technical -Speculative) used to predict the direction of exchange rate changes. The author's FTS concept is a combination of two most popular forecasting methods and an attempt to add (parameterize) information on financial institutions' interventions in the forex market and generally understood speculations. The paper specifies explanatory variables and determines the nature of the occurring interdependencies. The FTS analysis allows for developing a computer system for decision support in the management of foreign exchange risk. At the same time, the paper draws attention to the complexity of the issue and shows possible directions for further research.

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