https://www.um.edu.mt/library/oar/handle/123456789/4761 2026-09-17T12:35:27Z https://www.um.edu.mt/library/oar/handle/123456789/149218 Title: Sustainability reporting as an instrument of organizational security and environmental credibility Authors: Szczerbak, Monika; Krupnik, Dorota Abstract: PURPOSE: The aim of this article is to analyze the role of sustainability reporting as an instrument supporting financial security and building the environmental credibility of small and medium-sized enterprises (SMEs). The study attempts to identify the significance of sustainability reporting in enhancing corporate transparency, reducing reputational risk, preventing greenwashing practices, and strengthening relationships with stakeholders.; RESEARCH METHODOLOGY: The study employs a critical literature review and an analysis of legal acts and regulatory documents concerning sustainability reporting, ESG issues, and the functioning of the SME sector. Particular attention is given to the assumptions of the Voluntary Sustainability Reporting Standard for SMEs (VSME) and its significance for business practice.; FINDINGS: The analysis indicates that sustainability reporting can serve as an important tool for building corporate credibility, increasing transparency, and reducing reputational risk. Reliable disclosure of environmental information may also mitigate the risk of greenwashing by providing stakeholders with credible and comparable data regarding a company’s environmental impact. Furthermore, sustainability reporting may contribute to strengthening a company’s financial security by enhancing the trust of business partners, investors, and financial institutions.; ORIGINALITY/VALUE: The value of the article lies in presenting sustainability reporting not only as a tool for implementing ESG principles but also as an instrument supporting financial security, building credibility, and reducing the risk of greenwashing in small and mediumsized enterprises. The study highlights the practical benefits of implementing sustainability reporting within the SME sector in the context of growing stakeholder expectations and evolving regulatory requirements. 2026-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/149210 Title: Personnel policy in the SME sector in the context of contemporary concepts of work humanization Authors: Koszembar-Wiklik, Małgorzata; Krannich, Marek; Szmal, Arkadiusz; Aleksander, Aneta Abstract: PURPOSE: The aim of the study was to answer the question of whether a humanistic approach to work is applied in the SME sector. The authors put forward the thesis that SME entrepreneurs do not fully utilise the concept of work humanisation, despite declaratively high indicators of transparency and employment stability.; DESIGN/METHODOLOGY/APPROACH: The study was conducted in January 2025 using a questionnaire-based method with purposive and snowball sampling. The questionnaire, addressed to owners or senior management, was sent electronically following an initial telephone contact. A total of 116 SME companies provided responses. The findings were interpreted against the backdrop of contemporary work humanisation concepts.; FINDINGS: The study revealed the dominance of competence and experience as the key recruitment criteria, with marginal significance assigned to gender and personal connections, indicating a departure from discriminatory practices. The vast majority of companies reported no layoffs over the past five years, and are actively building long-term employee loyalty. Despite high declarations of transparency and equal pay, only some employers allow employees to co-shape the remuneration system. The most striking finding concerns attitudes toward employee dignity — only some part of respondents consider it a value that takes precedence over profit maximisation, while definitely more interviewees explicitly reject this view.; PRACTICAL IMPLICATIONS: The findings point to the need to replace the functional-normative approach to the employee with a holistic perspective that recognises the employee's subjectivity and personal dignity. SME managers should invest in training, fair appraisal systems, and mechanisms for employee participation. Neglect in these areas leads to occupational burnout, employee alienation, and organisational pathologies, ultimately undermining the long-term competitiveness of enterprises.; ORIGINALITY/VALUE: The article combines the perspective of management sciences with contemporary work humanisation concepts (Total Well-being, Work-Life Integration, Industry 5.0) and the assumptions of work humanisation processes, creating an original interpretive framework for evaluating HR policies in SMEs. It provides current empirical data (2025) on actual HR practices in the Polish SME sector, revealing a significant gap between declared values and the actual treatment of employee dignity. 2026-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/149208 Title: Macroeconomic dilemmas of managing resource allocation in the Polish public system in the context of armaments expenditure Authors: Mierzwa, Dominika Abstract: PURPOSE: The aim of the study is to conduct structural assessments and evaluations of the effects resulting from the use of military and military security measures and their impact on the electronic system in the Polish public system after 2022.; DESIGN/METHODOLOGY/APPROACH: The author analyzes military spending in Poland, broken down by equipment, infrastructure, and personnel, between 2014 and 2025. National defense spending has increased significantly after 2022. He compares this spending with the budget deficit and analyzes the key risks of this process. This creates serious fiscal tensions and a lack of integration between the defense sector, education (R&D), and healthcare. Attention is also drawn to the overlooked social component—the need to build morale and social resilience as a pillar of deterrence.; PRACTICAL IMPLICATIONS: The article points out that the rapid modernization of the Polish army was reactive in nature, a response to the war in Ukraine and pressure from the US, rather than the result of a long-term strategy. Massive expenditures on national defense do not translate into high rationality of these expenditures. Defense can only fully develop if it benefits from a stable source of investment over many years and decades. Initiating a proper defense industrial cycle in Central and Eastern European countries requires long-term planning and investment. The article concludes with recommendations for implementing a comprehensive security strategy, stabilizing public finances, and strengthening the link between army modernization and the Polish economy.; ORIGINALITY/VALUE: The situation regarding defense spending differs from the patterns typical of the United States, the United Kingdom, or Germany. Analytical studies have confirmed that individual countries will find it increasingly difficult to develop their own, independent defense systems. The costs are high for Europeans, as individual national development programs face strong international competition and cannot fully exploit economies of scale. The level of national defense spending must be assessed in the context of the constraints imposed by EU fiscal rules and the overarching national goal of stable, balanced, and sustainable economic growth. 2026-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/149203 Title: Comprehensive assessment of Ukraine’s budget security in the context of military threats Authors: Martynenko, Valentyna; Wasilewska, Natalia; Davydenko, Nadiia; Wasilewski, Mirosław Abstract: PURPOSE: The purpose of this article is to assess Ukraine’s level of budget security under martial law, based on an empirical analysis of key fiscal indicators and multi-variant scenario forecasting for the medium-term period.; DESIGN/METHODOLOGY/APPROACH: The assessment is built upon the normative framework of the Methodological Recommendations approved by the Ministry of Economic Development and Trade of Ukraine (2013). The research standardizes four fundamental indicators: the state budget deficit to GDP ratio, the general government sector fund balance, the level of GDP redistribution through the consolidated budget, and the public debt service and repayment ratio. Analytical forecasting is performed using linear trend functions and a scenario approach incorporating trend confidence intervals to account for high volatility under economic crisis conditions.; FINDINGS: The study revealed a severe and structural deterioration in Ukraine’s budget security following the full-scale military invasion. In 2023, the composite budget security level plummeted to a critical minimum of 6.7%, driven by the state budget deficit expanding beyond 20% of GDP and GDP redistribution rising to 47.48%. Conversely, temporary relief was observed in debt servicing due to successful restructuring. The regression analysis established a functional correlation confirming that a 1% increase in the budget security level corresponds to a +0.14% expansion in real GDP, with changes in GDP accounting for 55.9% of budget security dynamics. Predictive scenarios for 2024–2026 indicate that under a realistic trajectory, the indicator will remain within the absolutely dangerous zone (5.3–13.2%), and even under optimistic assumptions, it will not exceed critical thresholds (31.3–38.9%).; PRACTICAL IMPLICATIONS: The practical value of the paper lies in a structured set of anti-crisis measures tailored for wartime public financial management. These include the rigorous reallocation of budget funds towards defence and essential social welfare, conducting comprehensive performance audits of state programs, optimizing tax legislation to mitigate the administrative burden on enterprises, and intensifying institutional cooperation with global creditors (IMF, World Bank, EU) to streamline external financial assistance.; ORIGINALITY/VALUE: The originality of the research lies in the improved methodological approach to evaluating how armed conflicts systematically shock public finances. By integrating a complex economic-statistical assessment with stochastic modelling, the study provides a robust empirical framework to isolate the acceleration of macroeconomic decline caused specifically by the erosion of budget security. 2026-01-01T00:00:00Z