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Determinants of Investments in Energy Sector in Poland

Author

Listed:
  • Robert Lisowski

    (AGH University of Science and Technology, 30-059 Kraków, Poland)

  • Maciej Woźniak

    (AGH University of Science and Technology, 30-059 Kraków, Poland)

  • Paweł Jastrzębski

    (AGH University of Science and Technology, 30-059 Kraków, Poland)

  • Simeon Karafolas

    (Department of Accounting and Finance, University of Western Macedonia, 501 00 Kozani, Greece)

  • Marek Matejun

    (Faculty of Management, University of Lodz, 90-137 Łódź, Poland)

Abstract

There is much research about the determinants of investments, but there is a shortage of similar studies for Poland. Therefore, the overall goal of the paper is to analyze the determinants of investments made by enterprises from the energy sector as well as their delays in Poland in the years 2000–2019. In this period, a strong growth of investments in energy was observed in the country. In connection to this, the authors set four hypotheses and verified them with the following statistical methods: canonical analysis, linear and causality correlation, autocorrelation and cointegration tests. The paper found that there is a relationship between public consumption and investment spending of small enterprises in Poland. That means that only some macroeconomic parameters are connected with investments. Moreover, the changes in the value of past investments has a negative influence in current investments.

Suggested Citation

  • Robert Lisowski & Maciej Woźniak & Paweł Jastrzębski & Simeon Karafolas & Marek Matejun, 2021. "Determinants of Investments in Energy Sector in Poland," Energies, MDPI, vol. 14(15), pages 1-17, July.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:15:p:4526-:d:602263
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    References listed on IDEAS

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    Cited by:

    1. Joanna Kurowska-Pysz & Grzegorz Kunikowski, 2021. "The ESCO Formula as Support for Public and Commercial Energy Projects in Poland," Energies, MDPI, vol. 14(23), pages 1-23, December.
    2. Małgorzata Sztorc, 2022. "The Implementation of the European Green Deal Strategy as a Challenge for Energy Management in the Face of the COVID-19 Pandemic," Energies, MDPI, vol. 15(7), pages 1-21, April.
    3. Iwona Szczepaniak & Piotr Szajner, 2022. "Challenges of Energy Management in the Food Industry in Poland in the Context of the Objectives of the European Green Deal and the “Farm to Fork” Strategy," Energies, MDPI, vol. 15(23), pages 1-17, November.
    4. Joanna Rosak-Szyrocka & Justyna Żywiołek, 2022. "Qualitative Analysis of Household Energy Awareness in Poland," Energies, MDPI, vol. 15(6), pages 1-16, March.

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