The assessment of the impact of gender on financial decision-making was based on a representative survey 'Social Diagnosis 2015' conducted on a sample of over 34 thousand Polish citizens. When realising the research objective, a logistic regression model was appliedboth with and without interaction effects. The study has shown that the financial behaviours of men and women differ significantly. Men more frequently use the products and services available on the financial market such as, for instance, a debit card, or invest funds in shares or bonds. They are also more willing to take risks. However, as has been shown in the study, gender is not the only important variable influencing financial decisions. Equally important are age, social and professional status, education, or place of residence. This indicates that analysing behaviours on the financial market based solely on one variable may not be appropriate.

Efektywność inwestycyjna i kosztowa indywidualnych produktów emerytalnych 3.1. Nominalna i realna efektywność indywidualnych produktów emerytalnych 3.1.1. Wprowadzenie 3.1.2. Metoda badawcza i dane 3.1.3. Nominalna efektywność produktów emerytalnych 3.1.4. Realna efektywność produktów emerytalnych oferowanych przez banki i dobrowolne fundusze emerytalne 3.1.5. Realna efektywność teoretycznych portfeli emerytalnych w towarzystwach funduszy inwestycyjnych i zakładach ubezpieczeń na życie 3.1.6. Wnioski 3.2. Rodzaje i poziom opłat stosowanych w indywidualnych kontach emerytalnych i indywidualnych kontach zabezpieczenia emerytalnego 3.

Research background: The role of supplementary pension systems in providing adequate income in old-age is increasing significantly. They are frequently analysed, but rather in terms of architecture, product forms, assets under management or tax incentives than in terms of their efficiency, costliness or readability for individuals. Purpose of the article: The first aim of this paper is to evaluate individual retirement products in Poland regarding their linguistic readability and transparency, investment efficiency and costliness. Moreover, we examine whether there is any correlation between the analyzed characteristics of contracts that would suggest an intentional strategy by financial institutions to hide low efficiency and high costs. The second aim of the article is to assess which individual retirement products are similar to each other and which are significantly different. The research covers two types of individual retirement products (IKE and IKZE) offered at the beginning of 2017. Methods: We used the ?Jasnopis? linguistic analysis tool to assess the difficulty level of the language used in the contracts and we conducted desk-research to analyse their transparency. We indicated the costliness and efficiency of the products by calculating the 5-year cost ratios and real average 5-year rates of return. To examine the relations between the characteristics of pension contracts, we used the Spearman's rank correlation coefficient and then verified its significance with a non-parametric test. Moreover, to identify groups of products that are similar to or different from each other, Ward's method was used. The study includes nearly 90% of  all individual retirement products offered in Poland. Findings & value added: For both types of retirement products studied (IKE and IKZE), we found that the more readable a contract is, the higher its rate of return is and the higher the costs charged are. Moreover, the more readable a contract is, the more transparent it is. The findings of the study provide financial institutions, the supervisor and creators of social policy with information on market imperfections and recommendations how to improve the individual retirement products offered on the market. Our research makes a unique contribution to the multidimensional research of supplementary pension systems. It also develops the understanding of how to successfully use linguistic tools in complex analyses of financial services. The results of the hierarchical cluster analysis proved that both IKE and IKZE products differ substantially and their features generally do not depend on the type of the financial provider.

Purpose: The purpose of this study was to identify the threat of default risk among commodityrelated companies in European equity markets. Design/Methodology/Approach: Determination of the default risk of companies listed on several stock exchanges followed the Merton model by comparing the probability of

The aim of the article is to present the social insurance of farmers in Poland and Lithuania. In the study, the following research methods were used: the descriptive method, a literature review, statistical analysis, and an economic analysis of the law. On the basis of the study results, it was concluded that both countries have a different model of social insurance for farmers. This results from political decisions, but also from other aspects which have an impact on agriculture in those countries. It needs to be stressed that in Poland this type of insurance is about 90% subsidized, whereas in Lithuania this system is self‑sustaining.