Due to the traditional operational model of cooperative banks which is mostly based on financial intermediation, the range of a local bank’s social influence in a given environment is highly dependent on the money transfer balance, that is using local money to satisfy local needs. A typical...

The aim of the study is to establish and analyze the relationship between expenditure on corporate philanthropy and fi nancial performance of cooperative banks in Poland. The study covered 70 cooperative banks, where the level of expenditure on social activities was above the average in the...

The pure model of replicator dynamics though providing important insights in the evolution of markets has not found much of empirical support. This paper extends the model to the case of firms vertically integrated in value chains. We show that i) by taking value chains into account, the...