about e-finanse
The primary version of the quarterly is the on-line version
Based on a decision by the Ministry of Science and Higher Education, publications in "e-Finanse" now receive 14 points in the academic rating system

Editorial Board

Editorial Team of Financial Internet Quarterly "e-Finanse"

Editor-in-chief: Bartłomiej Kamiński
Executive Editor-in-chief: Joanna Podgórska
Editorial secretary: Małgorzata Leśniowska-Gontarz
e-mail: mlesniowska@e-finanse.com
Editor-in-large: Alexander Kaffka

Section editors:
Agata Gemzik-Salwach: banking, financial analysis
Jacek Rodzinka: insurance
Tomasz Skica: public finance, local administrative finance

Associate Editors:

Below Associate Editors were acquired under realization of the two-year development project (funding under the contract
725/P-DUN/2016 by the Ministry of Science and Higher Education allocated to the activities of disseminating science).

Paul H. Dembinski, Observatoire de la Finance (Switzerland); Gary Dymski, Leeds University Business School, University of Leeds (United Kingdom); Gábor Kürthy, Corvinus University of Budapest (Hungary); Malcolm Sawyer, Leeds University Business School, University of Leeds (United Kingdom); Jan Toporowski, SOAS, University of London, UK, and the University of Bergamo, Italy (United Kingdom); Wiktor Patena, Higher Colleges of Technology w Abu Dhabi, (United Arab Emirates); Alessandro Vercelli, University of Siena (Włochy).

  • Ziemowit Bednarek, College of Business, California Polytechnic State University (USA)
  • Aleksander Chłopecki, Warsaw University (Poland)
  • Lenka Dubovická, University of Central Europe in Skalica (Slovakia)
  • Aleksandra Duliniec, Warsaw School of Economics (Poland)
  • Leszek Dziawgo, Nicolaus Copernicus University (Poland)
  • Javed Ghulam Hussain, Birmingham City Business School, Birmingham City University (United Kingdom)
  • Alexander Ilyinsky, The Financial University under the Government of the Russian Federation (Russia)
  • Beata Javorcik, University of Oxford (United Kingdom)
  • Ryszard Kokoszczyński, Warsaw University (Poland)
  • Wojciech Misiąg, University of Information Technology and Management in Rzeszow (Poland)
  • Vladimir Modrak, Technical University Kosice (Slovakia)
  • Vladimir Momot, Alfred Nobel University Dnipropetrovs'k (Ukraine)
  • Krzysztof Opolski, Warsaw University (Poland)
  • Janusz Ostaszewski, Warsaw School of Economics (Poland)
  • Primož Pevcin, University of Ljubljana. Faculty of Administration (Slovenia)
  • Wiesław Pluta, University of Zielona Góra (Poland)
  • Izabela Pruchnicka - Grabias, Warsaw School of Economics (Poland)
  • Irena Pyka, University of Economics in Katowice (Poland)
  • Jerzy Różański, University of Łódź (Poland)
  • Javier Santomá, IESE Business School, University of Navarra (Spain)
  • Viola Šebestíková, VCB-TU Ostrava (Czech Republic)
  • Zdzisław Siroja, Vinnitsa Cooperative Institute (Ukraine)
  • Janusz Soboń, Maritime University of Szczecin (Poland)
  • Predrag Stančić, University of Kragujevac (Serbia)
  • Aleksandr Stepanov, Moscow Institute of State and Corporate Management (Russia)
  • Jan Sulmicki, Akademia Finansów i Biznesu Vistula (Poland)
  • Andrzej Szopa, Cracow University of Economics (Poland)
  • Tomasz Świst, National Bank of Poland & Warsaw University (Poland)
  • Danuta Aniela Tomczak, Ostfold University College, (Norway)
  • Urmas Varblane, University of Tartu (Estonia)
  • Tatiana Varcholová, University of Economics in Bratislava (Slovakia)
  • Nikolay Volgin, Russian Academy of Public Administration in Moscow (Russia)
  • Zahari Zahariev, The Slavyani Foundation in Sofia (Bulgaria)
  • Dariusz Zarzecki, University of Szczecin (Poland)

Technical editors:
Łukasz Bis - layout and paging
Karolina Palimąka, Angelika Gumieniak - repositories
Małgorzata Leśniowska-Gontarz - technical corrections

Statistical editor: Izabela Cichocka
English proofreading editor: Catherine Lockhead-Strzępka

"e-Finanse" Editorial Office
University of Information Technology and Management in Rzeszow
Ul. Sucharskiego 2
35-225 Rzeszów
Room 248
Telephone number: (0-17) 86-61-185

The non-commercial use of the articles will be governed by the Creative Commons Attribution-NonCommercial-NoDerivs license as currently displayed on http://creativecommons.org/licenses/by-nc-nd/3.0/, except that sections 2 through 8 below will apply in this respect and prevail over all conflicting provisions of such license model. Without prejudice to the foregoing, the author hereby grants the Journal Owner the license for commercial use of the article (for U.S. government employees: to the extent transferable) according to section 2 below, and sections 4 through 9 below, throughout the world, in any form, in any language, for the full term of copyright, effective upon acceptance for publication.