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(1)‘ʹȋ͹ͳȌʹͲͳͺ.

(2) ʹͷͶͶǦ͹Ͳ͸ͺ. BEZPIECZNY. .

(3) No 2(71) 2018. ISSN 2544-7068. BEZPIECZNY.  SAFE BANK.

(4) SAFE BANK‹•ƒŒ‘—”ƒŽ’—„Ž‹•Š‡†„›–Š‡ƒ —ƒ”ƒ–‡‡ —†•‹ ‡ͳͻͻ͹Ǥ

(5) –‹•†‡˜‘–‡†–‘ ‹••—‡•‘ˆϐ‹ƒ ‹ƒŽ•–ƒ„‹Ž‹–›ǡ™‹–Šƒ’ƒ”–‹ —Žƒ”‡’Šƒ•‹•‘–Š‡„ƒ‹‰•›•–‡Ǥ. EDITORIAL OFFICE ’”‘ˆǤ ƒœƒ„‡ŽƒÑ œ›Ȃ†‹–‘”‹Š‹‡ˆ ’”‘ˆǤƒÏ‰‘”œƒ–ƒ

(6) ™ƒ‹ œǦ”‘œ†‘™•ƒ ’”‘ˆǤ›•œƒ”†‘‘•œ œ›Ñ•‹ ’”‘ˆǤ‘‹ƒƒ” ‹‘™•ƒ ’”‘ˆǤ™ƒ‹Žƒ•œ‡™•ƒ ’”‘ˆǤ”œ›•œ–‘ˆ’‘Ž•‹ †”™ƒ—Ž‹Ñ•ƒǦƒ†Ï‘ Šƒ ™ƒ‡Ž‡Ă›Ñ•ƒȂ‡ ”‡–ƒ”› SCIENTIFIC AND PROGRAMME COUNCIL ‹‘–”‘™ƒȂ’”œ‡™‘†‹ œ¦ › ’”‘ˆǤƒ‘Žƒ‘‰‹‹ ’”‘ˆǤƒ–‹ƒ‰‘ƒ”„‘ǦƒŽ˜‡”†‡ ’”‘ˆǤƒ”‹—•œ ‹Žƒ” ’”‘ˆǤ—‰‡‹—•œ ƒ–ƒ” ’”‘ˆǤ†”œ‡Œ ‘•’‘†ƒ”‘™‹ œ ’”‘ˆǤ‡•œ‡ƒ™Ï‘™‹ œ ”œ›•œ–‘ˆ‹‡–”ƒ•œ‹‡™‹ œ †œ‹•Ïƒ™‘ƒŽ ’”‘ˆǤƒˆƒÏ—”ƒ ŽŽƒ”–‹ Ž‡•’—„Ž‹•Š‡†‹Dz dzƒ”‡”‡˜‹‡™‡†Ǥ ŽŽƒ”–‹ Ž‡•’”‡•‡––Š‡‘’‹‹‘•‘ˆ–Š‡ƒ—–Š‘”•ƒ†•Š‘—Ž†‘–„‡ ‘•–”—‡†–‘„‡ƒ‘ˆϐ‹ ‹ƒŽ ’‘•‹–‹‘‘ˆ. EDITOR ”›•–›ƒƒ™‡”•ƒ PUBLISHER ƒ‘™› —†—•œ ™ƒ”ƒ ›Œ› —ŽǤ•Ǥ

(7) ‰ƒ ‡‰‘ ƒƒ‘”—’‹Ͷ ͲͲǦͷͶ͸ƒ”•œƒ™ƒ SECRETARY ™ƒ‡Ž‡Ă›Ñ•ƒ ‡Ž‡’Š‘‡ǣʹʹͷͺ͵Ͳͺ͹ͺ ‡Ǧƒ‹Žǣ‡™ƒǤ–‡Ž‡œ›•ƒ̷„ˆ‰Ǥ’Ž.

(8) ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ 

(9) ǣͳͲǤʹ͸͵ͷͶȀ„„Ǥ͸ǤʹǤ͹ͳǤʹͲͳͺ. Paweł Mikołajczak*. ‘—” ‡•‘ˆ —†‹‰ƒ†‡˜‡—‡• ‘ˆ‘ ‹ƒŽ–‡”’”‹•‡•‹‘Žƒ†‹‘’ƒ”‹•‘ –‘‡Ž‡ –‡†—”‘’‡ƒ‘—–”‹‡•ƒ†‘”Ž†Ǧ‹†‡. Abstract Š‡ˆ—†ƒ‡–ƒŽ‹†‡ƒ•ƒ†˜ƒŽ—‡•‘ˆ–Š‡•‘ ‹ƒŽ‡ ‘‘›ϐ‹†–Š‡‹”‡š’”‡••‹‘‹–Š‡‰‘ƒŽ•‘ˆ •‘ ‹ƒŽ‡–‡”’”‹•‡•ƒ†‹–Š‡™ƒ›•‘ˆ–Š‡‹”ƒ –‹˜‹–›Ǥ ‘™‡˜‡”ǡ–Š‡›ƒ”‡‘––Š‡‘Ž›†‡–‡”‹Ǧ ƒ–•‘ˆ–Š‡‹”•‘ ‹ƒŽƒ –‹˜‹–›Ǥ‹˜‡”•‹ϐ‹‡†ϐ‹ƒ ‹ƒŽ”‡•‘—” ‡•ƒ”‡ƒŽ•‘‡ ‡••ƒ”›–‘•–‹—Žƒ–‡ –Š‡ ”‡ƒ–‹‘ƒ††‡˜‡Ž‘’‡–‘ˆ–Š‡•‡‡–‡”’”‹•‡•ǤŠ‡‘„Œ‡ –‹˜‡‘ˆ–Š‡’ƒ’‡”‹•–‘‹†‹ ƒ–‡–‘ ™Šƒ–‡š–‡–•‘ ‹ƒŽ‡–‡”’”‹•‡•‹‘Žƒ†—•‡˜ƒ”‹‘—••‘—” ‡•‘ˆˆ—†‹‰–Š‡‹”ƒ –‹˜‹–›ǡ ‘’ƒǦ ”‡†–‘ Š‘•‡—”‘’‡ƒ ‘—–”‹‡•ƒ†™‘”Ž†Ǧ™‹†‡ǤŠ‡ƒƒŽ›•‡•™‡”‡ ƒ””‹‡†‘—–‘–Š‡„ƒǦ •‹•‘ˆ†ƒ–ƒˆ”‘‹–‡”ƒ–‹‘ƒŽ 

(10) ”‡’‘”–•ǡ ‘˜‡”‹‰ͳͲͲͲ•‘ ‹ƒŽ‡–‡”’”‹•‡•‹ —‰ƒ”›ǡ ‘ƒ‹ƒǡ’ƒ‹ǡ‘”–—‰ƒŽǡ ‡”ƒ›ǡ™‡†‡ǡ ”‡ƒ–”‹–ƒ‹ǡ—••‹ƒƒ†Š‹ƒƒ†ƒ•ƒ’Ž‡‘ˆ Ͷͳʹ‘Ž‹•Š•‘ ‹ƒŽ‡–‡”’”‹•‡•ǤŠ‡ϐ‹†‹‰•‘ˆƒƒŽ›•‡•‹†‹ ƒ–‡–Šƒ–”‡˜‡—‡•ˆ”‘„—•‹‡•• ƒ –‹˜‹–› ƒ”‡ •‹‰‹ϐ‹ ƒ– ϐ‹ƒ ‹ƒŽ •‘—” ‡ ‘ˆ •‘ ‹ƒŽ ‡–‡”’”‹•‡• ‹ ƒ› —”‘’‡ƒ ‘—–”‹‡•ǡ ‹ Ž—†‹‰‘Žƒ†Ǥ ‘™‡˜‡”ǡ–Š‡›ƒ”‡‘––Š‡‘Ž›™ƒ›–‘‰ƒ‹ ƒ’‹–ƒŽǤ‘‰‘–Š‡”ˆ‘”•‘ˆ ƒ’‹–ƒŽ ‘–”‹„—–‹‘ǡ•—„•‹†‹‡•ǡ†‘ƒ–‹‘•‘”‡„‡”•Š‹’ˆ‡‡• ƒ„‡•‹‰Ž‡†‘—–ǤŠ‡•Šƒ”‡ ‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•—•‹‰–Š‘•‡•‘—” ‡••‹‰‹ϐ‹ ƒ–Ž›˜ƒ”‹‡•‹‹†‹˜‹†—ƒŽ ‘—–”‹‡•Ǥ Key wordsǣ•‘ ‹ƒŽ‡–‡”’”‹•‡•Ǣ •Ǣ ‘‡” ‹ƒŽ”‡˜‡—‡ǡ•‘—” ‡•‘ˆˆ—†‹‰. 1. Introduction ‘Ǧ’”‘ϐ‹– ‘”‰ƒ‹œƒ–‹‘• –”ƒ†‹–‹‘ƒŽŽ› ‘’‡”ƒ–‡ ‹ –Š‡ •‘ ‹ƒŽ •‡ –‘”Ǥ Š‡› ƒˆˆ‡ – ‡ ‘‘‹ ǡ•‘ ‹ƒŽƒ† —Ž–—”ƒŽƒ”‡ƒ•–Š”‡ƒ–‡‡†„›„”‘ƒ†Ž›—†‡”•–‘‘†ƒ”‰‹ƒŽ‹œƒ–‹‘ ™Š‹ Š ‰‡‡”ƒ–‡ •‘ ‹ƒŽ ’ƒ–Š‘Ž‘‰‹‡•Ǥ Š‡‹” ‡‰ƒ–‹˜‡ ‘•‡“—‡ ‡• ƒˆˆ‡ – –Š‡ ™Š‘Ž‡ ‘—‹–›Ǥ‘•‘Ž˜‡‘”ˆƒ ‹Ž‹–ƒ–‡’”‘„Ž‡••— Šƒ•Š‘‡Ž‡••‡••ǡˆƒ‹‡ǡ†‘‡•–‹  ˜‹‘Ž‡ ‡ ‘” ‡˜‹”‘‡–ƒŽ ’‘ŽŽ—–‹‘ǡ  • ‡ƒ„Ž‡ –Š‡ ‹˜‘Ž˜‡‡– ‘ˆ Š—ƒ ȗ. ƒ™‡Ï‹‘σŒ œƒ™‘”•ƒ–‡’ƒ”–‡–‘ˆ‘‡›ƒ†ƒ‹‰ǡ‘œƒ‹˜‡”•‹–›‘ˆ ‘‘‹ •ƒ† —•‹‡••Ǥ. ͳͳ͵.

(11) ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. ”‘„Ž‡•ƒ†’‹‹‘•. ”‡•‘—” ‡•‹ƒ ‘’Ž‡‡–ƒ”›™ƒ›–‘’—„Ž‹ ƒ†’”‹˜ƒ–‡•‡ –‘”•ǤŠ—•ǡ–Š‡›‹’”‘˜‡ ‰‘˜‡”‡–ƒ –‹˜‹–‹‡•„›‹’Ž‡‡–‹‰–Š‡‹”‘™˜‹•‹‘•‘ˆ•‘ ‹‡–›ƒ†‹‘˜ƒ–‹˜‡ —†‡”–ƒ‹‰•ǡ”‡‰ƒ”†Ž‡••‘ˆ‰‘˜‡”‡–’‘Ž‹ ›Ǥ •‹ Ž—†‡‰”‘—’•ƒ†‹•–‹–—–‹‘• –Šƒ– ƒ”‡ ‡–‹”‡Ž› ‘” Žƒ”‰‡Ž› ‹†‡’‡†‡– ˆ”‘ ‰‘˜‡”‡– ƒ† Šƒ˜‡ ’”‹ƒ”‹Ž› Š—ƒ‹–ƒ”‹ƒ‘” ‘‘’‡”ƒ–‹˜‡”ƒ–Š‡”–Šƒ ‘‡” ‹ƒŽ‘„Œ‡ –‹˜‡•Ǥ ‡ ‡••ƒ”›ˆ—†•ˆ‘”–Š‡ •‹‘”†‡”–‘‹’Ž‡‡––Š‡‹”Ž‘‰Ǧ–‡”ƒ –‹˜‹–‹‡•ƒ”‡ ‘„–ƒ‹‡† ˆ”‘ ’—„Ž‹  ƒ• ™‡ŽŽ ƒ• ˆ”‘ ’”‹˜ƒ–‡ †‘‘”•Ǥ

(12)  –Šƒ– ”‡•’‡ –ǡ  • —•– —•—ƒŽŽ›”‡Ž›‘˜ƒ”‹‘—••‘—” ‡•‘ˆϐ‹ƒ ‹‰Ǥ ‘™‡˜‡”ǡ‹ ”‡ƒ•‹‰—„‡”‘ˆ‘Ǧ ’”‘ϐ‹– ‘”‰ƒ‹œƒ–‹‘• ƒ”‡ Ž‘‘‹‰ ˆ‘” ƒ††‹–‹‘ƒŽ ”‡˜‡—‡ǡ ‹‹–ƒ–‹‰ ‘‡” ‹ƒŽ ‡–‡”’”‹•‡•Ǥ Š‡› –”› –‘ ƒ––”ƒ – ƒ „‹‰‰‡” —„‡” ‘ˆ —•–‘‡”• ‹–‡”‡•–‡† ‹ –Š‡‹” •‡”˜‹ ‡•–Šƒ–‡ƒ„Ž‡•–Š‡–‘‘„–ƒ‹ƒ††‹–‹‘ƒŽ ƒ’‹–ƒŽǤ Š‡”‡ˆ‘”‡ǡ•‘‡‘Ǧ’”‘ϐ‹–‘”‰ƒ‹•ƒ–‹‘•ǡ–‘•‡ —”‡–Š‡”‡ƒŽ‹•ƒ–‹‘‘ˆ–Š‡‹”‰‘ƒŽ•ǡ ‹–”‘†— ‡ƒ‡–”‡’”‡‡—”‹ƒŽƒ –‹˜‹–›Ȃƒ ‘‡” ‹ƒŽ•ƒŽ‡‘ˆ‰‘‘†•ƒ†•‡”˜‹ ‡•Ǥ— Š ƒ –‹˜‹–‹‡• ”‡ƒ–‡–Š‡’‘••‹„‹Ž‹–›–‘„‡ ‘‡‹†‡’‡†‡–ˆ”‘–Š‡’—„Ž‹ •‘—” ‡•‘” Šƒ”‹–›Ǥƒ‹‰‘–Š‡ƒ –‹˜‹–›„ƒ•‹‰‘–Š‡ ‘‡” ‹ƒŽ•ƒŽ‡‘ˆ‰‘‘†•ƒ†•‡”˜‹ ‡• ‹• †‡• ”‹„‡† ƒ• ‘‡” ‹ƒŽ‹œƒ–‹‘ ‘ˆ •‘ ‹ƒŽ ‘”‰ƒ‹•ƒ–‹‘• ƒ† ‹• –Š‡ ƒ‹ ”‡ƒ•‘ ‘ˆ ”‡ƒ–‹‘ƒ††‡˜‡Ž‘’‡–‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•ǤŠ‡ ‘‡” ‹ƒŽ‹œƒ–‹‘‘ˆ•‘ ‹ƒŽ ƒ –‹˜‹–›‹•ƒŽ•‘ƒ”‡•’‘•‡–‘•‘‡‘ˆ–Š‡ ”— ‹ƒŽ‹••—‡•Ž‹‡ƒ‹ ”‡ƒ•‹‰—„‡”‘ˆ ’‡‘’Ž‡™Š‘‡‡†•—’’‘”–‘”‰”‘™‹‰ƒ‘—–‘ˆ‘”‰ƒ‹œƒ–‹‘• ‘’‡–‹‰ˆ‘”ˆ—†• –‘ ‘†— – –Š‡‹” ƒ –‹˜‹–›Ǥ —•‹‡•• ƒ –‹˜‹–› ƒ•‹†‡ǡ –Š‡ ˜‹–ƒŽ †‹•–‹‰—‹•Š‹‰ ˆƒ –‘”• ‘ˆ •‘ ‹ƒŽ ‡–‡”’”‹•‡• ƒ”‡ –Š‡ ‹••—‡• ”‡ˆ‡””‹‰ –‘ –Š‡ ’”‘ϐ‹– ƒ† –Š‡ ‘„Œ‡ –‹˜‡•Ǥ • ‡ˆ‘—”ƒ†›••‡••–ƒ–‡ȏʹͲͲ͹Ȑ–Š‡ϐ‹ƒ ‹ƒŽ•—”’Ž—•‹•‘––Š‡ƒ„•‘Ž—–‡”—Ž‡ˆ‘” –Š‡†‡• ”‹„‡†‡–‹–‹‡•ƒ†‹•—•‡†–‘ˆ—Žϐ‹Ž•‘ ‹ƒŽ‰‘ƒŽ•Ǥ

(13) –†‘‡•‘–‡ƒ–Šƒ–’”‘ϐ‹–‹• ƒ‹•‹‰‹ϐ‹ ƒ–‡ ‘‘‹  ƒ–‡‰‘”›Ǥƒ”‹‰•‰‡‡”ƒ–‡–Š‡‘’’‘”–—‹–›–‘ˆ—Žϐ‹Ž–Š‡ ‡••‡–‹ƒŽ–ƒ•‘ˆ•‘ ‹ƒŽ‹••‹‘Ǥ —‹‰—’ƒŽŽ–Š‡ƒ„‘˜‡‡–‹‘‡†‹••—‡•ǡ–Š‡ƒ‹‘ˆ–Š‡’ƒ’‡”‹•–‘‹†‹ ƒ–‡–‘ ™Šƒ– ‡š–‡– †‘ •‘ ‹ƒŽ ‡–‡”’”‹•‡• ‹ ‘Žƒ† —•‡ ˜ƒ”‹‘—• •‘—” ‡• ‘ˆ ˆ—†‹‰ –Š‡‹” ƒ –‹˜‹–›ǡ ‘’ƒ”‡† –‘ Š‘•‡ —”‘’‡ƒ ‘—–”‹‡• ƒ† ™‘”Ž†Ǧ™‹†‡Ǥ Š‡ ”‡•‡ƒ” Š ‘†— –‡†Šƒ•”‡˜‡ƒŽ‡†–Š‡’‡” ‡–ƒ‰‡‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡—•‹‰’ƒ”–‹ —Žƒ”•‘—” ‡ ‘ˆϐ‹ƒ ‹‰Ǥ‡•—Ž–•‘ˆ–Š‡”‡•‡ƒ” Š’”‘˜‹†‡•‹‰‹ϐ‹ ƒ–‹’—–‹–‘ƒ‹–‡”ƒ–‹‘ƒŽ †‹• —••‹‘‘ϐ‹ƒ ‹‰•‘ ‹ƒŽ‡–‡”’”‹•‡•ƒ††‹˜‡”•‹ϐ‹‰–Š‡‹”•—’’‘”–”‡•‘—” ‡•Ǥ. 2. The concept of social economy – from non-proϐit to not-for-proϐit activity Š‡ ‘”‰ƒ‹•ƒ–‹‘ƒŽ ˆ‘—†ƒ–‹‘ ‘ˆ –Š‡ –Š‹”† •‡ –‘” ȋ Ȍ ‹• ƒ Ž‘‰Ǧ–‡” •‘ ‹ƒŽ ‹••‹‘ǡ –Š‹• ‹• ƒ •’‡ ‹ϐ‹‡† ‹†‡ƒ ƒ‹‹‰ ƒ– Š‡Ž’‹‰ –Š‡ •‘ ‹‡–›Ǥ  • ƒ”‡ ‡–‹–‹‡• Šƒ˜‹‰ ‘”‡ ‘’Ž‡šǡ ϐŽ‡š‹„Ž‡ ƒ† †‹ˆˆ‡”‡– ˜ƒŽ—‡• ƒ† ‘–‹˜ƒ–‹‘ ˆ‘” ƒ –‹‘ –Šƒ ˆ‘”Ǧ’”‘ϐ‹– —‹–•Ǥ Š‡› ƒ –‹˜‡Ž› ’ƒ”–‹ ‹’ƒ–‡ ‹ ‹†‡–‹ˆ›‹‰ ’”‘„Ž‡• ‘ˆ ƒ Ž‘ ƒŽ ‡˜‹”‘‡–ǡ‘ƒƒ–‹‘ƒŽŽ‡˜‡Žƒ†˜‡”›‘ˆ–‡ƒŽ•‘‘ˆƒ‹–‡”ƒ–‹‘ƒŽ Šƒ”ƒ –‡”Ǥ Š‡”‡ˆ‘”‡ǡ–Š‡ Šƒ”ƒ –‡”‘ˆƒ –‹˜‹–›‘ˆ–Š‘•‡‡–‹–‹‡•‹•‡•’‡ ‹ƒŽŽ›•‹‰‹ϐ‹ ƒ–ǡ‘•–‘ˆ. ͳͳͶ.

(14) ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. ”‘„Ž‡•ƒ†’‹‹‘•. ƒŽŽ‹–Š‡ ‘–‡š–‘ˆ–ƒ‹‰‹†‡’‡†‡–ƒ –‹‘•ǡˆ‘”™Š‹ Š–Š‡‘”‰ƒ‹•ƒ–‹‘•™‡”‡ ”‡ƒ–‡†ȏ ”‘‡Ž‹ Šͳͻͻͻǡ’’ǤʹͶ͸Ȃʹ͸ͺȐǤ „˜‹‘—•Ž›ǡ–Š‡”‡ƒŽ‹•ƒ–‹‘‘ˆƒ—–‘‘‹ ‰‘ƒŽ•”‡“—‹”‡••’‡ ‹ϐ‹‡†ϐ‹ƒ ‹ƒŽ•‘—” ‡•Ǥ

(15)  ƒ•‡ ‘ˆ ‘Ǧ‰‘˜‡”‡–ƒŽ ‘”‰ƒ‹•ƒ–‹‘•ǡ –Š‡ ˆ—†• ƒ”‡ —•—ƒŽŽ› ‘„–ƒ‹‡† ˆ”‘ •‡˜‡”ƒŽ •‘—” ‡•Ǥ ‘‰ –Š‡ ”‡ƒ•‘• ‘ˆ ‰ƒ‹‹‰ †‹˜‡”•‹ϐ‹‡† ϐ‹ƒ ‹ƒŽ •‘—” ‡•ǡ ‘‡ ƒ ‡—‡”ƒ–‡ „”‘ƒ†Ž› —†‡”•–‘‘† ’”‡‹•‡• ‘‡ –‡† ™‹–Š ‹†‡’‡†‡ ‡ ƒ† ƒ—–‘‘›‘ˆ‘Ǧ’”‘ϐ‹–‘”‰ƒ‹•ƒ–‹‘™‹–Š‹–Š‡”‡ƒŽ‹•ƒ–‹‘‘ˆ•‘ ‹ƒŽ‹••‹‘ȏƒ””‘ŽŽ ƒ†–ƒ–‡”ʹͲͲͻǡ’’ǤͻͶ͹Ȃͻ͸͸ȐǤ–Š‡”’”‡‹•‡• ‘ ‡”–Š‡ ”‡ƒ–‹‘‘ˆ‡ ‘‘‹  •ƒˆ‡–›‘ˆ •ǡ‡š’”‡••‡†‹•–”‹˜‹‰ˆ‘”–Š‡Ž‹‹–ƒ–‹‘‘ˆ–Š‡”‹•‘ˆ†‡’‡†‡ ‡‘ ϐ‹ƒ ‹ƒŽ”‡•‘—” ‡••—’’Ž‹‡”•ȏ ”—‹ƒ†‡ƒ–‹‰ʹͲͳͳǡ’’ǤͳͷͳȂͳ͸ͶȐǤ ‹˜‡”•‹ϐ‹ ƒ–‹‘‘ˆˆ—†‹‰•–”‡ƒ•‹–”‘†— ‡•‘’’‘”–—‹–‹‡•‘ˆƒ˜‘‹†‹‰–Š‡”‹•‘ˆ „‡‹‰ ‘–”‘ŽŽ‡†„›’—„Ž‹ ǡƒ•™‡ŽŽƒ•’”‹˜ƒ–‡ǡ†‘‘”•ǡ‡•’‡ ‹ƒŽŽ›™Š‡‘‡‘ˆ–Š‡ Šƒ• ƒ †‘‹ƒ– •Šƒ”‡ ‹ –Š‡ ˆ—†‹‰Ǥ ‹˜‡”•‹ϐ‹ ƒ–‹‘ •–”ƒ–‡‰› ‘ˆ ”‡˜‡—‡ •‘—” ‡• ‹‘Ǧ’”‘ϐ‹–‘”‰ƒ‹•ƒ–‹‘•‹ ”‡ƒ•‡•–Š‡ƒ—–‘‘›‘ˆ •‹–Š‡‹”ˆ—Žϐ‹Ž‡–‘ˆ •‘ ‹ƒŽ ‹••‹‘ ƒ† †‹‹‹•Š‡• –Š‡ ”‹• ‘ˆ ’”‡••—”‡ ’—– ‘ –Š‡ ƒƒ‰‡‡–ǡ ˆ‘” ‹•–ƒ ‡™‹–Š‹–Š‡ Šƒ‰‡‘””‡•‹‰ƒ–‹‘‘ˆˆ‘”‡”Ž›ƒ’’”‘˜‡†’”‹‘”‹–‹‡•ȏ‡ƒ–‹‰ ‡–ƒŽǤʹͲͲͷȐǤ ‘–Š‡””‡ƒ•‘ƒ‘‰ •‘ˆ”‡˜‡—‡•†‹˜‡”•‹ϐ‹ ƒ–‹‘ƒ”‡–Š‡ϐ‹ƒ ‹ƒŽ’”‡‹•‡• ‘‡ –‡† ™‹–Š –Š‡ –Š”‡ƒ– ‘ˆ †‡ˆƒ—Ž– ‘” ‹•‘Ž˜‡ › ƒ† –Š‡ †‡ ”‡ƒ•‡ ‘ˆ ”‡˜‡—‡•Ǥ —‡”‘—•”‡•‡ƒ” Š‘–Š‡‡ ‘‘‹  ‘†‹–‹‘‘ˆ‘Ǧ’”‘ϐ‹–‘”‰ƒ‹•ƒ–‹‘••Š‘™• –Šƒ––Š‡†‹˜‡”•‹ϐ‹‡†•‘—” ‡•‘ˆ”‡˜‡—‡•ƒ”‡ Šƒ”ƒ –‡”‹•–‹ ‘ˆ–Š‡‡–‹–‹‡•‘ˆƒ„‡––‡” ϐ‹ƒ ‹ƒŽ•‹–—ƒ–‹‘ȏŠƒ‰ƒ†— ƒͳͻͻͶǡ’’Ǥʹ͹͵ȂʹͻͲȐǤ ƒ‰‡”ȏʹͲͲͳǡ’’Ǥ͵͹͸Ȃ͵ͻʹȐ•–”‡••‡•–Šƒ–†‹˜‡”•‹ϐ‹ ƒ–‹‘‘ˆ”‡˜‡—‡•‹ ”‡ƒ•‡•–Š‡ ’”‘„ƒ„‹Ž‹–› ‘ˆ ‘”‰ƒ‹•ƒ–‹‘ǯ• •—”˜‹˜ƒŽǤ Ž‘‰ ™‹–Š –Šƒ– •–ƒ–‡‡–ǡ –Š‡ ”‡•‡ƒ” Š‡” ƒŽ•‘ ƒ”‰—‡• –Šƒ– ƒ Š‹‰Š‡” Ž‡˜‡Ž ‘ˆ ‘ ‡–”ƒ–‡† ”‡˜‡—‡• Šƒ• ‘–”‹„—–‡† –‘ –Š‡ ‘ŽŽƒ’•‡‘ˆƒ›‘”‰ƒ‹•ƒ–‹‘•Ǥ•’‡ ‹ƒŽŽ›‹–‹‡•‘ˆ‡ ‘‘‹ †‡–‡”‹‘”ƒ–‹‘ǡ–Š‡ †‡ ”‡ƒ•‡‹”‡˜‡—‡•ˆ”‘‘‡•‘—” ‡ ƒ„‡ ‘’‡•ƒ–‡†„›–Š‡”‡˜‡—‡•ˆ”‘ ƒ‘–Š‡”Ǥ ƒ””‘Ž ƒ† –ƒ–‡” ȏʹͲͲͻǡ ’’Ǥ ͻͶ͹Ȃͻ͸͸Ȑ ƒ”‰—‡ –Šƒ– ‘‡ ‘ˆ –Š‡ ‘†‹–‹‘• ‘ˆ ‘’‡”ƒ–‹‘ƒŽ •–ƒ„‹Ž‹–› ‘ˆ  • ‹• –Š‡ ƒ ‡•• –‘ †‹˜‡”•‹ϐ‹‡† •–”‡ƒ• ‘ˆ ˆ—†‹‰Ǥ. ”‡‡Ž‡‡ ȏʹͲͲʹǡ ’’Ǥ ͳͻͻͻȂʹͳͲȐ ƒŽ•‘ ’‘‹–• ‘—– –Š‡ ”‡Žƒ–‹‘•Š‹’ „‡–™‡‡ –Š‡ •–ƒ„‹Ž‹–›ƒ†’”‡†‹ –ƒ„‹Ž‹–›‘ˆ”‡˜‡—‡•ƒ†–Š‡‹”†‹ˆˆ‡”‡–‹ƒ–‹‘Ǥ•‹‹Žƒ”‘’‹‹‘ ‹•‡š’”‡••‡†„›ƒ”‹ȏʹͲͳͲǡ’’Ǥͳͺ͵ȂʹͲʹȐ™Š‘•–”‡••‡•–Šƒ–ϐ‹ƒ ‹ƒŽ•–ƒ„‹Ž‹–›‹• ˜‹–ƒŽˆ‘” •„‡ ƒ—•‡‹–‘–‘Ž›’”‘˜‹†‡•ϐ‹ƒ ‹ƒŽ•—’’‘”–„—–ƒŽ•‘‡ƒ„Ž‡•–Š‡ ˆ—Žϐ‹Ž‡–‘ˆ‘”‰ƒ‹•ƒ–‹‘ǯ•‰‘ƒŽ•ƒ†ƒŽ•‘•‡ —”‡•–Š‡•‘—” ‡•ˆ‘”™‘”‡”•ǯ•ƒŽƒ”‹‡•ǡ ’—” Šƒ•‡‘ˆ‡ ‡••ƒ”›‡“—‹’‡–ƒ†ƒ‹–ƒ‹‹‰’‘•–•Ǥ

(16) –Šƒ– ‘–‡š– ”‘‡Ž‹ Š ȏͳͻͻͻǡ ’’Ǥ ʹͶ͸Ȃʹ͸ͺȐ ’”‘˜‡• –Šƒ– ϐ‹ƒ ‹ƒŽ •–ƒ„‹Ž‹–› ‘ˆ –Š‡ ‘”‰ƒ‹•ƒ–‹‘ ƒ‡• ‹– ‘”‡’”‡†‹ –ƒ„Ž‡ƒ†–Š‡”‡‰—Žƒ”‹–›‘ˆ–Š‡ƒ ‡••‘ˆϐ‹ƒ ‹ƒŽ”‡•‘—” ‡•ƒ‡•–Š‡ ƒ –‹‘‘ˆ ‘”‡†›ƒ‹ ƒ†—•™‡”˜‹‰Ǥ ‘‰ –Š‡ ‘’’‘”–—‹–‹‡• –‘ •‡‡ ƒ††‹–‹‘ƒŽ ”‡˜‡—‡• „›  • ™‡ ƒ ƒŽ•‘ †‹•–‹‰—‹•Šƒ ‘‡” ‹ƒŽ•ƒŽ‡‘ˆ‰‘‘†•ƒ†•‡”˜‹ ‡•Ǥƒ‹‰—’ƒ„—•‹‡••ƒ –‹˜‹–› „›‘Ǧ’”‘ϐ‹–‘”‰ƒ‹œƒ–‹‘•‹•†‡ϐ‹‡†ƒ•–Š‡‹” ‘‡” ‹ƒŽ‹œƒ–‹‘‘”ƒ”‡–‹•ƒ–‹‘ ȏ‹’•‘ ƒ† Š‡‡› ʹͲͲ͹ǡ ’’Ǥ ͳͻͳȂʹʹʹǢ ƒ”– ʹͲͲͶƒǡ ’’Ǥ ʹͻͲȂ͵ͳͲ ƒ† ʹͲͲͶ„ǡ. ͳͳͷ.

(17) ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. ”‘„Ž‡•ƒ†’‹‹‘•. ’’Ǥ ͶͳͳȂͶʹͶȐ ‘” ‡ ‘‘‹œƒ–‹‘ ȏ‡‡• ͳͻͻͺǡ ’’Ǥ ͷͶȂ͸ͻǢ ‹‡„‡””› ƒ† Ž—‡˜‡” ʹͲͲͶǡ’’Ǥͳ͵ʹȂͳͶͲǢ›‰ƒÑ•‹ʹͲͲͺȐǤ‡ƒŽ‹œƒ–‹‘‘ˆ ‘‡” ‹ƒŽ•ƒŽ‡‘ˆ‰‘‘†•ƒ† •‡”˜‹ ‡•‰‹˜‡ •–Š‡•–ƒ–—•‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•ȏ‹‘σŒ œƒʹͲͳ͹ƒǡ’’Ǥͳ͵ͷȂͳͶͶȐǤ

(18) –†‘‡•‘–‡ƒ–Šƒ–•ƒŽ‡’”‹ ‡•ƒ”‡ƒŽ™ƒ›• ”‡ƒ–‡†„›–Š‡ƒ”‡–ǤŠ‡›˜‡”›‘ˆ–‡ ƒ”‡ †‡ϐ‹‡† ‘ ƒ Ž‘™‡” Ž‡˜‡Ž ‘” ‘ –Š‡ Ž‡˜‡Ž Ž‘™‡” –Šƒ –Š‡ ƒ—ˆƒ –—”‹‰ ‘•–• †‡’‡†‹‰‘–Š‡”‡ ‹’‹‡–•ȏ‹‘σŒ œƒƒ†œ–‡”ƒ•–›ʹͲͳͷǡ’’ǤͶʹͲȂͶ͵͵ȐǤŠ‡ ‹†‡ƒ‘ˆƒ”‡–‹•ƒ–‹‘ǡ‘–Š‡‘‡Šƒ†‹•„ƒ•‡†‘‡ ‘‘‹ •–ƒ„‹Ž‹–›‘ˆ •ǡ‘ –Š‡ ‘–Š‡”ǡ Š‘™‡˜‡”ǡ ‘ „‡ ‘‹‰ ‹†‡’‡†‡– ˆ”‘ ϐ‹ƒ ‹‰ „ƒ•‡† ‘ •—„•‹†‹‡• ƒ†’Š‹Žƒ–Š”‘’›ȏ —”ƒ•œ‡Ǧ‘’ƒ œ‡–ƒŽǤʹͲͲͺȐǤ ‘Ǧ’”‘ϐ‹–‘”‰ƒ‹•ƒ–‹‘•ǡ„›‹‹–ƒ–‹‰ ‘‡” ‹ƒŽ‡–‹–‹‡•ǡ•‡‡–Š‡‘’’‘”–—‹–›–‘ ƒ––”ƒ – ƒ ™‹†‡” ”ƒ‰‡ ‘ˆ —•–‘‡”• ƒ† ”‡ ‹’‹‡–• ‘ˆ –Š‡‹” •‡”˜‹ ‡• ƒ† –Š‹• ™ƒ› –‘‰ƒ‹ƒ††‹–‹‘ƒŽ ƒ’‹–ƒŽǤ• ‘•–‡”ƒ†”ƒ†ƒ ŠȏʹͲͲͷǡ’’ǤͻʹȂͳͲͲȐ’‘‹–‘—––Š‡ ’”‘ ‡•• ‘ˆ ‡ ‘‘‹•ƒ–‹‘ ”‡“—‹”‡• —„‡” ‘ˆ Šƒ‰‡• ƒ’’‡ƒ”‹‰ ‹ –Š‡ ϐ‹‡Ž† ‘ˆ ƒƒ‰‡‡–ǡ•–”‡••‹‰‘”‰ƒ‹•ƒ–‹‘ǯ•‡–”‡’”‡‡—”•Š‹’ƒ†•‡ŽˆǦ•—ˆϐ‹ ‹‡ ›Ǥ Š‡ ’Š‡‘‡‘ ‘ˆ ƒ”‡–‹•ƒ–‹‘ ‘ˆ ‘Ǧ’”‘ϐ‹– ‘”‰ƒ‹•ƒ–‹‘• ‹• ˜‹•‹„Ž‡ ƒ”‘—† –Š‡ ™‘”Ž†Ǥ

(19) –• †‹”‡ – ‘•‡“—‡ ‡ǡ ƒ• ‹– ™ƒ• •‹‰ƒŽŽ‡† „‡ˆ‘”‡ǡ ‹• –Š‡ ”‡ƒ–‹‘ ƒ† †‡˜‡Ž‘’‡–‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•Ǥ‡”Ž‹ƒ†‘ŽŽƒȏʹͲͲ͸ȐŠ‹‰ŠŽ‹‰Š––Šƒ–ƒ‰”‘™‹‰ ‹’‘”–ƒ ‡‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•‹•†‡ϐ‹‡†„›–Š‡‹••—‡•”‡ˆ‡””‹‰–‘•‘ ‹ƒŽ’‘Ž‹ › ‘ˆ –Š‡ •–ƒ–‡ ƒ† Ž‹‹–‡† ’‘••‹„‹Ž‹–‹‡• –‘ ϐ‹ƒ ‡ –Š‡ ƒ –‹˜‹–› ‘ˆ ‡–‡”’”‹•‡• „‡‹‰ •—„Œ‡ –‡†–‘•— Š’‘Ž‹ ›Ǥ†ƒ’–ƒ–‹‘‘ˆ‡–”‡’”‡‡—”‹ƒŽ„‡Šƒ˜‹‘—”•–‘‘„–ƒ‹ ƒ’‹–ƒŽ ˆ‘””—‹‰ •ƒ†‡–”‡’”‡‡—”‹ƒŽ‘”‹‡–ƒ–‹‘™Š‡‰‡‡”ƒ–‹‰–Š‡”‡˜‡—‡•‹• ‘‡ –‡†–‘–Š‡†—ƒŽ‹–›‘ˆ •ǯƒ –‹˜‹–‹‡•™Š‹ Š‹•‡š’”‡••‡†‹–Š‡–”ƒ•ˆ‘”ƒ–‹‘‘ˆ ˆ— –‹‘‹‰ˆ‘”—Žƒˆ”‘‘Ǧ’”‘ϐ‹––‘‘–Ǧˆ‘”Ǧ’”‘ϐ‹–ȏ ”‘Š•‡–ƒŽǤʹͲͳͷǡ’’Ǥͳ͸͵Ȃͳͺ͸ȐǤ

(20) – ƒ‹ˆ‡•–• ‹–•‡Žˆ ‹ ƒ ‹‡†‹ƒ–‡ ‡–”› ‘ˆ –Š‡ ‘”‰ƒ‹•ƒ–‹‘ ‹–‘ –Š‡ ƒ”‡– ƒ† ‹‹–‹ƒ–‹˜‡‘ˆ–Š‡„—•‹‡••‘”ƒ”‡Žƒ–‹˜‡ˆ‘”‘ˆ”—‹‰ƒ‘–Š‡”’ƒ‹†„—•‹‡••ǤŠ—•ǡ –Š‡†‡• ”‹„‡†‡–‹–‹‡•ƒ”‡‘ˆ–‡’‡” ‡‹˜‡†ƒ•ƒ•—„Ǧ‰”‘—’‘ˆŠ›„”‹†‡–‹–‹‡•‘ˆ•‘ ‹ƒŽ ‡ ‘‘› ‘”‹‡–‡† –‘™ƒ”†• –Š‡ ƒ”‡– ƒ† ƒ ‹•–‹–—–‹‘ƒŽ ”‡•’‘•‡ ‘ˆ –Š‡ –Š‹”† •‡ –‘” ‘”‰ƒ‹•ƒ–‹‘• –‘ –Š‡‹” ’”‘„Ž‡• ™‹–Š ϐ‹ƒ ‹‰ –Š‡‹” ƒ –‹˜‹–› ȏ‹ŽŽ‹• ʹͲͳͲǢ ˜‡”•ʹͲͲͷǢ ”ƒ••ŽʹͲͳʹǢ‹‘σŒ œƒʹͲͳ͹„ǡ’’Ǥͷ͸Ȃͷ͹ȐǤ  Žƒ  ‘ˆ Ž‡‰ƒŽ †‡ϐ‹‹–‹‘ ‘ˆ ƒ •‘ ‹ƒŽ ‡–‡”’”‹•‡ ‹ ƒ› —”‘’‡ƒ ‘—–”‹‡•ǡ ƒ• ™‡ŽŽƒ•™‘”Ž†Ǧ™‹†‡”‡•—Ž–•‹–Š‡†‡• ”‹’–‹‘‘ˆ–Š‡‹”’‡ —Ž‹ƒ”‹–›‘Ž›–Š”‘—‰Š–Š‡ ˆ‡ƒ–—”‡•™Š‹ Š†‹•–‹‰—‹•Š–Š‡ˆ”‘‘–Š‡”„—•‹‡••‡•ƒ†ˆ— –‹‘•™Š‹ Š–Š‡› ˆ—Žϐ‹ŽǤ•‡ˆ‘—”ƒ†›••‡••–ƒ–‡ȏʹͲͲ͹Ȑ–Š‡ϐ‹ƒ ‹ƒŽ•—”’Ž—•‹•‘––Š‡ƒ„•‘Ž—–‡ ”—Ž‡ˆ‘”–Š‡†‡• ”‹„‡†‡–‹–‹‡•ƒ†‹•—•‡†–‘ˆ—Žϐ‹Ž•‘ ‹ƒŽ‰‘ƒŽ•Ǥ

(21) –†‘‡•‘–‡ƒ–Šƒ– ’”‘ϐ‹–‹•ƒ‹•‹‰‹ϐ‹ ƒ–‡ ‘‘‹  ƒ–‡‰‘”›Ǥƒ”‹‰•‰‡‡”ƒ–‡–Š‡‘’’‘”–—‹–›–‘ ˆ—Žϐ‹Ž–Š‡’”‹‘”‹–›–ƒ•‘ˆ•‘ ‹ƒŽ‹••‹‘Ǥ  •ƒ –‹‰ƒ••‘ ‹ƒŽ‡–‡”’”‹•‡•ǡƒ’ƒ”–ˆ”‘–Š‡”‡˜‡—‡•ˆ”‘ ‘‡” ‹ƒŽ•ƒŽ‡–‘ ˆ—Žϐ‹Ž–Š‡‹”•‘ ‹ƒŽ‹••‹‘ǡƒŽ•‘–”›–‘ƒ––”ƒ ––Š‡ƒ––‡–‹‘‘ˆ’”‹˜ƒ–‡ƒ†‹•–‹–—–‹‘ƒŽ †‘ƒ–‘”• ƒ• –Š‡‹” ϐ‹ƒ ‹ƒŽ ƒ† ‘Ǧϐ‹ƒ ‹ƒŽ ‹˜‘Ž˜‡‡– •—’’‘”–• –Š‡ „—•‹‡•• ƒ –‹˜‹–›ȏƒ‹‡”‡–ƒŽǤʹͲͳ͸ǡ’’Ǥ͸ͶȂͺ͸ȐǤ—‡”‘—•”‡•‡ƒ” Š‡”••–”‡••–Šƒ–”—‹‰ ƒ „—•‹‡•• „› •‘ ‹ƒŽ ‡–‡”’”‹•‡•ǡ ‘ –Š‡ ‘‡ Šƒ† ‡ƒ„Ž‡• –Š‡ –‘ „‡ ‘‡ ‘”‡ ‹†‡’‡†‡–ˆ”‘’—„Ž‹ ƒ†‹‹•–”ƒ–‹‘ƒ†’Š‹Žƒ–Š”‘’›ȏ‡‡•ͳͻͻͺǡ’’ǤͷͶȂ͸ͻǢ Œ‘Ž”ƒ•ʹͲͲʹǢ‹‰ʹͲͲ͸ȐǡŠ‘™‡˜‡”ǡ‘–Š‡‘–Š‡”Šƒ†‹–‰‹˜‡•–Š‡–Š‡‘’’‘”–—‹–›. ͳͳ͸.

(22) ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. ”‘„Ž‡•ƒ†’‹‹‘•. –‘ ‰ƒ‹ ”‡•‘—” ‡• ˆ”‘ •‘ ‹ƒŽ ‹˜‡•–‘”• ȏ ‡‘„‡› ƒ† ‡„‡” ʹͲͳ͵ǡ ’’Ǥ ͳʹͶȂͳ͵͹Ȑǡ ˆ‘” ‹•–ƒ ‡ ‹ –Š‡ ˆ‘” ‘ˆ ‘ ‹ƒŽ

(23) ’ƒ –

(24) ˜‡•–‹‰Ǥ Š‡› ”‡’”‡•‡– ‡™ ‹† ‘ˆ ƒ –‹˜‹–‹‡•™Š‹ Šƒ”‡ Šƒ”ƒ –‡”‹•‡†„›ƒ•’‡ ‹ƒŽ”‡Žƒ–‹‘‘ˆ–Š‡”ƒ–‡‘ˆ”‡–—”ƒ†–Š‡ ”‹•ǡ–›’‹ ƒŽˆ‘”•‘Ǧ ƒŽŽ‡†Dz’ƒ–‹‡– ƒ’‹–ƒŽdzȏǯ‘‘Š‘‡‡–ƒŽǤʹͲͳͲȐǤŠ‡•‡ƒ••‡–•ƒ”‡ ƒ––Š‡•ƒ‡–‹‡ Šƒ”ƒ –‡”‹•‡†„›ˆ‡ƒ–—”‡••‹‹Žƒ”–‘‹˜‡•–‡–•‘ˆDz•‘ ‹ƒŽ‹’ƒ – ‹˜‡•–‡–•dz ȏ”ƒ†•–‡––‡” ƒ† ‡Š‡” ʹͲͳͶȐǤ ‘”‡‘˜‡”ǡ •‘ ‹ƒŽ ‡–‡”’”‹•‡• ƒ —•‡ƒ–‹‘ƒŽƒ†ˆ‘”‡‹‰ˆ—†•ǡ‹ Ž—†‹‰–Š‡•‘—” ‡•‘ˆ–Š‡ƒ†‘–Š‡”™ƒ›•‘ˆ ˆ—†‹‰‘ˆˆ‡”‡†„›ǡ‡Ǥ‰Ǥ–Š‡—”‘’‡ƒ‘‹••‹‘Ǥ. 3. Data Š‡†ƒ–ƒˆ‘”–Š‡ƒƒŽ›•‹•‘ˆ”‡˜‡—‡•ƒ†ˆ—†‹‰•‘—” ‡•Šƒ• ‘‡ˆ”‘‹–‡”ƒ–‹‘ƒŽ  D”‡’‘”–•ǡ ”‡ƒ–‡†™‹–Š‹ƒ—Ž–‹Ǧ†‹• ‹’Ž‹ƒ”›”‡•‡ƒ” Š’”‘‰”ƒ‡ǡϐ‹ƒ ‡† „›–Š‡—”‘’‡ƒ‘‹••‹‘ǡ™Š‹ ŠƒƒŽ›•‡•–Š‡’‘–‡–‹ƒŽ‘ˆƒ•‘ ‹ƒŽ‡–‡”’”‹•‡ ‹–Š‡ƒ†‘—–•‹†‡‹––‘‹ ”‡ƒ•‡•‘ ‹ƒŽ‹–‡‰”ƒ–‹‘˜‹ƒ‰”‘™‹‰‹˜‘Ž˜‡‡–‘ˆ ’ƒ”–‹‡•ǡ’”‘‘–‹‰ ‹˜‹Ž•‘ ‹‡–›ƒ† Šƒ‰‡•‹’”‘˜‹†‹‰•‘ ‹ƒŽ•‡”˜‹ ‡•Ǥ D ‘„‹‡•–Š‡‘„•‡”˜ƒ–‹‘•‘ˆ†‡ ‹•‹‘Ǧƒ‡”•ƒ†•‘ ‹ƒŽ‡–”‡’”‡‡—”•™‹–Š–Š‡ Žƒ–‡•–”‡•‡ƒ” Š–‘„—‹Ž†•‘Ž‹†ƒ†‡™ˆƒ –•ƒ„‘—–•‘ ‹ƒŽ‡–”‡’”‡‡—”•Š‹’Ǥ D ˆ‘”—Žƒ–‡• –Š‡‘”‡–‹ ƒŽ ˆ”ƒ‡• ˆ‘” ‹–‡‰”ƒ–‹‘ ƒ† ‹‘˜ƒ–‹‘ ’”‘ ‡••‡• ‹ –Š‡ ‘–‡š–‘ˆ—•‹‰‡™‡š’‡”‹‡–•‹˜‘Ž˜‹‰•‘ ‹ƒŽ‡–‡”’”‹•‡•Ǥ‘”‡‘˜‡”ǡ‹– ”‡ƒ–‡• ƒ—‹“—‡‹–‡”ƒ–‹‘ƒŽ†ƒ–ƒ„ƒ•‡‘ˆ‹Ǧ†‡’–Š ƒ•‡•–—†‹‡•ǡƒ†ƒ––Š‡•ƒ‡–‹‡ǡ‹– –‡•–•ƒ† ‘ Ž—†‡•„ƒ•‹‰‘•‘Ž‹†ƒ† ”‘••Ǧ•‡ –‹‘ƒŽ”‡•‡ƒ” ŠǤ

(25) –Š‡’‡”‹‘†‘ˆ ’”‹ŽʹͲͳͷƒ†‡ ‡„‡”ʹͲͳͷ D ‘•‘”–‹—”ƒƒ”‡•‡ƒ” Š ‘˜‡”‹‰ͳͲͲͲ •‘ ‹ƒŽ ‡–‡”’”‹•‡• ‹ —‰ƒ”›ǡ ‘ƒ‹ƒǡ ’ƒ‹ǡ ‘”–—‰ƒŽǡ ‡”ƒ›ǡ ™‡†‡ǡ ”‡ƒ– ”‹–ƒ‹ǡ—••‹ƒƒ†Š‹ƒǤ•ƒ”‡•—Ž–‘ˆ ƒ”‡ˆ—Ž ‘‘’‡”ƒ–‹‘‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•ƒ† –Š‡ϐ‹ƒ ‹‰–Š‡„‹‰‰‡•–ƒ†‘•–”‹‰‘”‘—•’ƒ‡Ž†ƒ–ƒ„ƒ•‡‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡• ™‘”Ž†Ǧ™‹†‡™ƒ•ƒ –‹˜ƒ–‡†ȏ™™™Ǥ‡ˆ‘”‹•Ǥ‡—ȐǤ ƒ–ƒ ˆ‘” –Š‡ ƒƒŽ›•‡• ƒ”‡ ‘ŽŽ‡ –‡† ˆ”‘ –Š‡ Ž‘Ȁ ƒ™‘” ••‘ ‹ƒ–‹‘ǡ ™Š‹ Š ‘†— –‡† ƒ •—”˜‡› ‘ ƒ ”‡’”‡•‡–ƒ–‹˜‡ •ƒ’Ž‡ ‘ˆ ͵ǡͺͲͲ ‘Ž‹•Š ˆ‘—†ƒ–‹‘• ƒ† ƒ••‘ ‹ƒ–‹‘•”—‹–Š‡–Š‹”†ƒ†ˆ‘—”–Š“—ƒ”–‡”‘ˆʹͲͳͷǤŠ‡•—”˜‡›ǡ ‘‹••‹‘‡† „›–Š‡Ž‘Ȁ ƒ™‘”••‘ ‹ƒ–‹‘ǡ™ƒ• ‘†— –‡†„›–Š‡‹ŽŽ™ƒ”†”‘™ ‘’ƒ›ǤŠ‡ ”‡•‡ƒ” Š™ƒ• ƒ””‹‡†‘—–‘ƒ”ƒ†‘‰”‘—’‘ˆƒ••‘ ‹ƒ–‹‘•ƒ†ˆ‘—†ƒ–‹‘•†”ƒ™ ˆ”‘–Š‡  ”‡‰‹•–‡”ȋƒ‹–ƒ–‹•–‹ ƒŽˆϐ‹ ‡Ȍȋ—•‹‰‡ ‡„‡”ʹͲͳͶ†ƒ–ƒȌǡ ˜‡”‹ϐ‹‡†‘–Š‡„ƒ•‹•‘ˆ‹ˆ‘”ƒ–‹‘‘„–ƒ‹‡†ˆ”‘ȋƒ–‹‘ƒŽ‘—”–‡‰‹•–‡”Ȍ ƒ† †ƒ–ƒ ‘ŽŽ‡ –‡† ‹ –Š‡ „ƒœ›Ǥ‰‘Ǥ’Ž ‡–™‘”Ǥ Š‡ †ƒ–ƒ ‘ ‡”‹‰ ƒ••‘ ‹ƒ–‹‘• ƒ† ˆ‘—†ƒ–‹‘• ™‡”‡ ‘ŽŽ‡ –‡† „› ‡ƒ• ‘ˆ –Š‡ ‹–‡”˜‹‡™ ‡–Š‘†ǡ ™Š‹ Š —•‡† –™‘”‡•‡ƒ” Š–‡ Š‹“—‡•ǣͳȌʹǡͻ͹ͷ‹–‡”˜‹‡™•™‡”‡ ƒ””‹‡†‘—–‡’Ž‘›‹‰–Š‡

(26)  –‡ Š‹“—‡ȋ†‹”‡ –‹–‡”˜‹‡™••—’’‘”–‡†„›ƒ ‘’—–‡”ǡ ‘†— –‡†„›‹–‡”˜‹‡™‡”• ‹ƒƒ”‡ƒȌǡʹȌͺʹͷ‹–‡”˜‹‡™•™‡”‡†‘‡ƒ’’Ž›‹‰–Š‡

(27) –‡ Š‹“—‡ȋƒ‘Ž‹‡ •—”˜‡›ȌǤ

(28) „‘–Š ƒ•‡•ǡ”‡•’‘†‡–•™‡”‡’‡‘’Ž‡’‡”ˆ‘”‹‰‡›ˆ— –‹‘•‹–Š‡‹” ‘”‰ƒ‹œƒ–‹‘•ǤŠ‡†ƒ–ƒ™‡”‡ ‘ŽŽ‡ –‡†‹ ‘’Ž‹ƒ ‡™‹–Š–Š‡•‡ ”‡ ›’”‹ ‹’Ž‡Ǥ• ’ƒ”–‘ˆ–Š‡”‡’‘”–ǡ‹–Š‡–Š‹”†“—ƒ”–‡”‘ˆʹͲͳͶǡʹͶ‹†‹˜‹†—ƒŽ‹Ǧ†‡’–Š‹–‡”˜‹‡™• ™‹–Š‘Ǧ‰‘˜‡”‡–ƒŽ‘”‰ƒ‹œƒ–‹‘‡’Ž‘›‡‡•ƒ†Ž‡ƒ†‡”•™‡”‡ ‘†— –‡†Ǥ. ͳͳ͹.

(29) ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. ”‘„Ž‡•ƒ†’‹‹‘•.

(30) ‘Žƒ†–Š‡”‡ƒ”‡ͳ͹–Š‘—•ƒ†ˆ‘—†ƒ–‹‘•ƒ†ͺ͸–Š‘—•ƒ†ƒ••‘ ‹ƒ–‹‘•–Šƒ–ƒ”‡ ”‡‰‹•–‡”‡†ȋ‡š Ž—†‹‰‘Ž—–ƒ”› ‹”‡ϐ‹‰Š–‹‰ ‘” ‡•ȌǤ‡˜‡–›–Š‘—•ƒ†‘ˆ–Š‡•‡ƒ”‡ ƒ –‹˜‡Ǥ‘•–‘Ǧ‰‘˜‡”‡–ƒŽ‘”‰ƒ‹œƒ–‹‘•†‡ƒŽ™‹–Š•’‘”–ǡ–‘—”‹•ǡ”‡ ”‡ƒ–‹‘ ƒ†Š‘„„›Ȃ–Š‡•‡ƒ”‡‡••‡–‹ƒŽƒ –‹˜‹–›•’Š‡”‡•‘ˆ͵ͶΨ‘ˆ–Š‡‘”‰ƒ‹œƒ–‹‘•ǤŠ‡ ‘”‰ƒ‹œƒ–‹‘•™Š‘•‡ƒŒ‘”ƒ –‹˜‹–›•’Š‡”‡‹•‡†— ƒ–‹‘ƒ†—’„”‹‰‹‰ƒ ‘—–ˆ‘” ͳͷΨ‘ˆ–Š‡‘Ǧ‰‘˜‡”‡–ƒŽ•‡ –‘”Ǥ”‰ƒ‹œƒ–‹‘•†‡ƒŽ‹‰™‹–Šƒ”–ƒ† —Ž–—”‡ƒ”‡ –Š‡–Š‹”†‘•–—‡”‘—•„”ƒ Š‘ˆ–Š‡•‡ –‘”ǣƒ••‘ ‹ƒ–‹‘•ƒ†ˆ‘—†ƒ–‹‘•ƒ –‹˜‡ ‹–Š‹•ϐ‹‡Ž†ƒ ‘—–ˆ‘”ͳ͵Ψ‘ˆ–Š‡•‡ –‘”ȏƒ’‘”–Ž‘Ȁ ƒ™‘”ǡ’’Ǥͳ͹ͷȐǤ Š‡‰”‘—’‘ˆ‡–‹–‹‡•ˆ—ŽŽ›‡‡–‹‰–Š‡†‡ϐ‹‹–‹‘‘ˆƒ•‘ ‹ƒŽ‡–‡”’”‹•‡ƒ”‡•‘ ‹ƒŽ ‘‘’‡”ƒ–‹˜‡•Ǥ ƒ–ƒ ˆ”‘ –Š‡ ‹‹•–”› ‘ˆ ƒ„‘” ƒ† ‘ ‹ƒŽ ‘Ž‹ › •Š‘™ –Šƒ– ˆ”‘ ʹͲͲͻ ‘™ƒ”†•ǡ –Š‡ —„‡” ‘ˆ ”‡‰‹•–‡”‡† •‘ ‹ƒŽ ‘‘’‡”ƒ–‹˜‡• ‹• ‰”‘™‹‰Ǥ Š‡”‡ ‹• ‘”‡Ž‹ƒ„Ž‡†ƒ–ƒ‘–Š‡—„‡”‘ˆƒ –—ƒŽŽ›‘’‡”ƒ–‹‰•‘ ‹ƒŽ ‘‘’‡”ƒ–‹˜‡•Ǥ ‘”†‹‰ –‘ –Š‡ ‘’‹‹‘ ‘ˆ •‘‡ ‡š’‡”–•ǡ ‘Ž› ƒǤ ͳȀ͵ ‘ˆ –Š‡ ‘†— – „—•‹‡•• ƒ –‹˜‹–› ȏ Š‹ƒ‡ʹͲͳͷǡ’’Ǥ͹ȂʹͲȐǤ. 4. Assumptions and research process Š‡”‡™‡”‡•‡˜‡”ƒŽƒ”‰—‡–•™Š‹ Š’‡”•—ƒ†‡†–Š‡ƒ—–Š‘”–‘—•‡–Š‡•‡ ‘†ƒ”› †ƒ–ƒƒ†‡ƒ˜ƒ‹Žƒ„Ž‡„›Ž‘Ȁ ƒ™‘”••‘ ‹ƒ–‹‘Ǥ ‹”•–ƒ†ˆ‘”‡‘•–ǡ‹–‡ƒ„Ž‡†–‘ ‡Žƒ”‰‡–Š‡”‡•‡ƒ” Š•ƒ’Ž‡ǡ‹–•”‡’”‡•‡–ƒ–‹˜‡‡••ƒ†–Š‡—„‡”‘ˆ‘„•‡”˜ƒ–‹‘• ™Š‹ Š Ž‡† –‘ „”‘ƒ†‡” ‘ Ž—•‹‘• ‹ –Š‡ ‘—”•‡ ‘ˆ ‘†— –‡† •–ƒ–‹•–‹ ƒŽ ƒƒŽ›•‹•Ǥ ‘”‡‘˜‡”ǡ—•‹‰–Š‡‡š‹•–‹‰†ƒ–ƒǡ ‘„‹‡†™‹–Š‘™ƒƒŽ›•‡•ǡƒ†‡‹–’‘••‹„Ž‡ –‘ˆ—Žϐ‹ŽƒŽ•‘†‹ˆˆ‡”‡–‰‘ƒŽ•–Šƒ–Š‘•‡‹‹–‹ƒŽ‘‡•™Š‹ Š’”‘’–‡†–Š‡ ‘ŽŽ‡ –‹‘ ‘ˆ†ƒ–ƒǤ•‹‰‹ϐ‹ ƒ–’”‡‹•‡‘ˆƒ‡ ‘‘‹ ƒ–—”‡‘ˆ•— Šƒ’’”‘ƒ Š™ƒ•–Š‡ ‘•– ‘ˆ”‡•‡ƒ” ŠȂ— ŠŽ‘™‡” ‘’ƒ”‡†–‘‘”‹‰‹ƒŽ”‡•‡ƒ” Šȏ ”ƒˆ‘”–Ǧƒ Š‹ƒ•ƒ† ƒ Š‹ƒ•ʹͲͲͳǡ’’Ǥ͵ʹͳȂ͵ʹ͵ȐǤ –Š‡„ƒ•‹•‘ˆ•—”˜‡›†ƒ–ƒDzCondition of the third sector in Poland in 2015dzǡƒ†‡ ƒ˜ƒ‹Žƒ„Ž‡ „› Ž‘Ȁ ƒ™‘” ••‘ ‹ƒ–‹‘ǡ ƒ‘‰ ƒŽŽ –Š‡ ‘”‰ƒ‹•ƒ–‹‘• –Šƒ– –‘‘ ’ƒ”– ‹–Š‡”‡•‡ƒ” Šȋ͵ͺͲͲȌ–Š‘•‡ •™‡”‡•‡Ž‡ –‡†™Š‹ Š”ƒƒ ‘‡” ‹ƒŽ•ƒŽ‡‘ˆ ‰‘‘†•ƒ†•‡”˜‹ ‡•Ȃ–Š‘•‡‡–‹–‹‡•™Š‹ Š™‡”‡“—ƒŽ‹ϐ‹‡†‹–‘–Š‡•‡ –‘”‘ˆ•‘ ‹ƒŽ ‡–‡”’”‹•‡•Ǥ–Šƒ–„ƒ•‹•ǡ–Š‡•ƒ’Ž‡‘ˆͶͳʹ‡–‹–‹‡•™ƒ••‡Ž‡ –‡†Ǥʹͷ‘ˆ–Š‘•‡‡–‹–‹‡• †‹†‘–’”‡•‡––Š‡”‡˜‡—‡•‹ʹͲͳͶǡ–Š‡”‡ˆ‘”‡ǡˆ‘”ˆ—”–Š‡”ƒƒŽ›•‹•ƒ•ƒ’Ž‡‘ˆ͵ͺ͹  •™ƒ••‡Ž‡ –‡†Ǥ‡š–ǡ–Š‡—„‡”ƒ†•Šƒ”‡ȋ‹ΨȌ‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•ǡ—•‹‰ ’ƒ”–‹ —Žƒ”•‘—” ‡•‘ˆϐ‹ƒ ‹ƒŽ•—’’‘”–‘ˆ–Š‡‹”ƒ –‹˜‹–›ǡ™ƒ•˜‡”‹ϐ‹‡†ǤŠ‡†‡–ƒ‹Ž‡† •’‡ ‹ϐ‹ ƒ–‹‘ ‘ˆ ϐ‹ƒ ‹ƒŽ ”‡•‘—” ‡• ™ƒ• ’”‡•‡–‡† ‹ –ƒ„Ž‡ ʹǤ Š‡ •‘—” ‡• ™‡”‡ ‰”‘—’‡† ‹ ͹ ƒ–‡‰‘”‹‡• –‘ ‡ƒ„Ž‡ –Š‡ ‘’ƒ”‹•‘ ‘ˆ •Šƒ”‡ ‘ˆ •‘ ‹ƒŽ ‡–‡”’”‹•‡•ǡ —•‹‰ ‡ƒ Š ‘ˆ –Š‡ •‘—” ‡• ™‹–Š –Š‡‹” ‡“—‹˜ƒŽ‡–• ‹ Š‘•‡ —”‘’‡ƒ ‘—–”‹‡• ƒ†™‘”Ž†Ǧ™‹†‡Ǥ•‹‰–Š‡‹ˆ‘”ƒ–‹‘ ‘ ‡”‹‰ϐ‹ƒ ‹ƒŽ’‡”ˆ‘”ƒ ‡‘ˆ•‘ ‹ƒŽ ‡–‡”’”‹•‡•ǡ –Š‡ ‰‹˜‡ —„‡” ‘ˆ ‡–‹–‹‡• ™ƒ• Žƒ••‹ϐ‹‡† ‹–‘ ƒ •’‡ ‹ϐ‹  ”ƒ‰‡ ‘ˆ ”‡˜‡—‡•ǤƒŽ—‡•‘ˆ–Š‡Žƒ––‡”ǡ–‘ˆƒ ‹Ž‹–ƒ–‡–Š‡ ‘’ƒ”‹•‘ǡ™‡”‡ ‘˜‡”–‡†‹–‘‡—”‘ ȋȌ„ƒ•‡†‘ƒƒ˜‡”ƒ‰‡‡š Šƒ‰‡”ƒ–‡‘ˆ‘Ž‹•Šƒ–‹‘ƒŽƒ‹ʹͲͳͶǤ. ͳͳͺ.

(31) ”‘„Ž‡•ƒ†’‹‹‘•. ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. 5. Findings and results Sources of ϔinancing Š‡ ”‡•‡ƒ” Š ƒ””‹‡† ‘—– „›  D •Š‘™• –Šƒ– ‹ ʹͲͳͶ –Š‡ ”‡˜‡—‡• ˆ”‘ ‘‡” ‹ƒŽ•ƒŽ‡™‡”‡–Š‡‘•–’‘’—Žƒ”•‘—” ‡‘ˆ”‡˜‡—‡•ƒ‘‰•‘ ‹ƒŽ‡–‡”’”‹•‡• ‹ƒƒŽ›•‡† ‘—–”‹‡•Ǥ

(32) –—•–„‡•–”‡••‡†–Šƒ––Š‡’‡” ‡–ƒ‰‡‘ˆ–‡•–‡†‡–‹–‹‡•‹ ’ƒ‹ ‹†‹ ƒ–‹‰ –Š‡ •‘—” ‡ ‘ˆ ‰ƒ‹‹‰ ƒ’‹–ƒŽ –Š”‘—‰Š ‘‡” ‹ƒŽ •ƒŽ‡ ‘ˆ ‰‘‘†• ƒ†•‡”˜‹ ‡•™ƒ•–Š‡Š‹‰Š‡•–ȋ͹ͶΨȌˆ‘ŽŽ‘™‡†„› ”‡ƒ–”‹–ƒ‹ȋ͸ͶΨȌƒ† —‰ƒ”› ȋ͸ʹΨȌǤ

(33) –—”ǡ‘ƒ‹ƒ™ƒ• Šƒ”ƒ –‡”‹•‡†„›–Š‡Ž‘™‡•–•Šƒ”‡‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡• ϐ‹ƒ ‹‰–Š‡‹”ƒ –‹˜‹–›ˆ”‘„—•‹‡••”‡˜‡—‡•Ǥ —„•‹†‹‡•ƒ”‡ƒŽ•‘•‹‰‹ϐ‹ ƒ–•‘—” ‡•‘ˆϐ‹ƒ ‹‰ǡˆ”‘–Š‡’‘‹–‘ˆ˜‹‡™‘ˆ‡–‹–‹‡• ‘ˆ•‘ ‹ƒŽ‡ ‘‘›ǤŠƒ–ˆ‘”‘ˆ‰ƒ‹‹‰ ƒ’‹–ƒŽ™ƒ•†‡ Žƒ”‡†„›ƒ“—ƒ”–‡”‘ˆ‡–‹–‹‡• ‹ƒƒŽ›•‡† ‘—–”‹‡•ǡ™Š‹Ž‡–Š‡Š‹‰Š‡•–’‡” ‡–ƒ‰‡™ƒ•‘–‡†‹™‡†‡ȋ͵͸ǤʹΨȌǡ ‘”–—‰ƒŽȋ͵ͷΨȌƒ† ”‡ƒ–”‹–ƒ‹ȋʹͻǤͷΨȌƒ†ƒŽ•‘‹ ‡”ƒ›ȋʹͺǤ͹ΨȌǤŠ‹‡•‡ƒ† ’ƒ‹•Š•‘ ‹ƒŽ‡–‡”’”‹•‡•†‡ Žƒ”‹‰–Šƒ–‹†‘ˆϐ‹ƒ ‹‰ ‘•–‹–—–‡†–Š‡•ƒŽŽ‡•– •Šƒ”‡ Ȃ ȋͳͺǤͻΨȌ ƒ† ȋʹͲǤͺΨȌ ”‡•’‡ –‹˜‡Ž›Ǥ Š‡ ‘—–”‹‡• –Šƒ– ™‡”‡ ‡–‹‘‡† ϐ‹”•–ǡ™‡”‡ Šƒ”ƒ –‡”‹•‡†„›–Š‡•Šƒ”‡‘ˆʹͳΨ ‘’ƒ”‡†–‘‘–Š‡” ‘—–”‹‡•™Š‡ ‘•‹†‡”‹‰ϐ‹ƒ ‹‰‹ƒˆ‘”‘ˆ‹˜‡•–‡–•Ǥ

(34) ”‡ƒ‹‹‰ ‘—–”‹‡•ǡ–Š‡•Šƒ”‡‘ˆ •‘ ‹ƒŽ‡–‡”’”‹•‡•‰ƒ‹‹‰ ƒ’‹–ƒŽ‹•— Šƒƒ‡”‹•Ž‘™ƒ†”‡ƒ Š‡•ƒ’’”‘šǤʹΨǤ

(35) ‘ƒ‹ƒǡ—••‹ƒƒ† ‡”ƒ›ǡ™Š‡ ‘’ƒ”‡†–‘‘–Š‡” ‘—–”‹‡•ǡ–Š‡„‹‰‰‡•– •Šƒ”‡‘ˆ†‹• —••‡†‡–‹–‹‡•†‡ Žƒ”‡†ϐ‹ƒ ‹‰‹ʹͲͳͶ‹ƒˆ‘”‘ˆ•—„•‹†‹‡•ȋͳʹǤͳΨǡ ͳͳǤͺΨƒ†ͳͲǤ͵Ψ”‡•’‡ –‹˜‡Ž›Ȍǡƒ†–Š‡Ž‘™‡•–‹’ƒ‹ȋͳǤ͹ΨȌǡ —‰ƒ”›ȋͳǤ͸ΨȌ ȋ•‡‡–ƒ„Ž‡ͳȌǤ. Sources of ϐinancing. Hungary. Romania. Portugal. Russia. China. Germany. Sweden. Great Britain. Spain. Table 1. Sources of ϐinancing of social enterprises in chosen countries in 2014 (in %). ƒŽ‡”‡˜‡—‡•. ͸ʹ. ʹͺǤͷ. ͷͲǤͳ. ͸ͲǤͶ. ͷ͵. Ͷ͵. ͷ͵. ͸Ͷ. ͹ͶǤͷ. ʹͷǤ͵. ʹ͸Ǥͷ. ͵ͷ. ʹ͵Ǥͳ. ͳͺǤͻ. ʹͺǤ͹. ͵͸Ǥʹ. ʹͻǤͷ. ʹͲǤͺ. ʹ. ʹ. ʹ. ͵Ǥͻ. ʹͳ. ͸Ǥͷ. ʹǤͳ. ͳǤͶ. ͲǤ͸. ͳǤ͹. ͳʹǤͳ. ͷǤ͸. ͳͳǤͺ. ͶǤ͵. ͳͲǤ͵. ͶǤʹ. ʹ. ͳǤ͸. ‘ƒ•. ͳ. Ȃ. ͲǤͷ. Ȃ. ͳ. ͵. Ͷ. ͳ. Ȃ. ‡„‡”ˆ‡‡•. ͵. ͳ. ͳ. Ȃ. Ͳ. ͳ. Ȃ. ͲǤͷ. ͳǤͷ. –Š‡”. ͷ. ͻ. ͸. Ȃ. ʹ. ͹. ͳ. ʹǤͷ. ͲǤͷ. —„•‹†‹‡•

(36) ˜‡•–‡–• ‘ƒ–‹‘•. ‘—” ‡ǣ‘™‡Žƒ„‘”ƒ–‹‘‘–Š‡„ƒ•‹•‘ˆ D”‡’‘”–ȏ™™™Ǥ‡ˆ‘”‹•Ǥ‡—ȐǤ. ͳͳͻ.

(37) ”‘„Ž‡•ƒ†’‹‹‘•. ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. ‘™‡˜‡”ǡ‹‘Žƒ†‹ʹͲͳͶ͹ͻΨ‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•†‡ Žƒ”‡†–Š‡”‡˜‡—‡•ˆ”‘•ƒŽ‡ ‘ˆ‰‘‘†•ƒ†•‡”˜‹ ‡•ƒ•–Š‡•‘—” ‡‘ˆ–Š‡‹”ƒ –‹˜‹–›Ǥ ‘”ƒ„‘—–ͶͲΨ‘ˆ†‹• —••‡†‡–‹–‹‡• •—„•‹†‹‡•ƒ†‡„‡”•Š‹’ˆ‡‡•™‡”‡ƒ•‘—” ‡‘ˆ ƒ’‹–ƒŽ•—’’‘”–‘ˆ–Š‡‹”ƒ –‹˜‹–›Ǥ

(38)  –—”ǡ͸ͲΨ‘ˆƒ–‘–ƒŽ—„‡”‘ˆƒƒŽ›•‡†•‘ ‹ƒŽ‡–‡”’”‹•‡•’‘‹–‡†–‘†‘ƒ–‹‘•ǤŠ‡ •‘—” ‡•‘ˆϐ‹ƒ ‹‰’—–‹ƒ ƒ–‡‰‘”›Dz–Š‡”dz Šƒ”ƒ –‡”‹•‡†ͺΨ‘ˆ†‹• —••‡†‡–‹–‹‡•Ǥ Š‡ ϐ‹‰—”‡• ‹ †‹ƒ‰”ƒ ͳ †‘ ‘– •Š‘™ ƒ–‡‰‘”‹‡• •— Š ƒ• ‹˜‡•–‡–• ƒ† Ž‘ƒ• „‡ ƒ—•‡‡–‡”’”‹•‡•‹‘Žƒ††‹†‘–—•‡–Š‡•‡ˆ‘”•‘ˆϐ‹ƒ ‹‰–Š‡‹”ƒ –‹˜‹–›Ǥ Table 2. Sources of ϐinancing social enterprises in Poland in 2014. Sources of ϐinancing. Share % (SE) number of SE Subsidies. ‘ ƒŽƒ—–Š‘”‹–›. ͷͲ. ʹͲͺ. Š‡ˆ—†•. ͵͹. ͳͷʹ. ”‘‰”ƒ‡•‘ˆ–Š‡—”‘’‡ƒ‘‹••‹‘. ͳͳ. Ͷ͹. ‘”‡‹‰ˆ—†‹‰ȋ‡š Ž—†‹‰Ȍ. ͳͳ. Ͷ͸. ‘ƒ–‹‘ˆ”‘‘–Š‡”†‹˜‹•‹‘•. ͵. ͳʹ. —•‹‡••ƒ –‹˜‹–›. ͹ͻ. ͵ʹͶ. ‡˜‡—‡•ˆ”‘‘–Š‡”’ƒ‹†ƒ –‹˜‹–›ȋ‘Ǧ„—•‹‡••Ȍ. ʹͲ. ͺ͵. ‹ƒ ‹ƒŽƒ†‘Ǧϐ‹ƒ ‹ƒŽ†‘ƒ–‹‘•ˆ”‘’”‹˜ƒ–‡‹†‹˜‹†—ƒŽ•. Ͷͷ. ͳͺͶ. ‹ƒ ‹ƒŽƒ†‘Ǧϐ‹ƒ ‹ƒŽ†‘ƒ–‹‘•ˆ”‘‹•–‹–—–‹‘•ǡ ‘’ƒ‹‡•. ͵Ͷ. ͳͶͳ. ‡˜‡—‡•ˆ”‘ͳΨ‘ˆ–Š‡‹ ‘‡–ƒš. ʹͷ. ͳͲͷ. —’’‘”–ˆ”‘‘–Š‡”ƒ–‹‘ƒŽ •. ͳͶ. ͷͻ. —„Ž‹ ˆ—†Ǧ”ƒ‹•‹‰‹ ‘‡•. ͳͳ. ͶͶ. Sales revenues. Donations/contributions. —’’‘”–ˆ”‘‘–Š‡”ˆ‘”‡‹‰ •. ͺ. ͵͵. Ͷͳ. ͳ͸ͻ.

(39) –‡”‡•–•ǡ’”‘ϐ‹–•ˆ”‘‡†‘™‡– ƒ’‹–ƒŽǡ†‡’‘•‹–•ǡ•Šƒ”‡• ƒ†•–‘ •. ͵ʹ. ͳ͵Ͳ. ‡˜‡—‡ˆ”‘ƒ••‡–•. ͳͻ. ͺͲ. –Š‡”. ͸. ʹ͵. —‹–‹˜‡†ƒƒ‰‡•. ʹ. ͻ. ‡„‡”•Š‹’ˆ‡‡• Other. ‘—” ‡ǣ‘™‡Žƒ„‘”ƒ–‹‘‘–Š‡„ƒ•‹•‘ˆƒ•—”˜‡›†ƒ–ƒ‘ˆŽ‘Ȁ ƒ™‘”••‘ ‹ƒ–‹‘”‡•‡ƒ” Š‘DzCondition of the third sector in Poland in 2015dzǤ. ͳʹͲ.

(40) ”‘„Ž‡•ƒ†’‹‹‘•. ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. Diagram 1. Categories of social enterprises ϐinancing in Poland in 2014 (in %) Seles revenues. 79. Subsidies. 42. Donations. 60. Members fees. 41. Other. 8. 0. 10. 20. 30. 40. 50. 60. 70. 80. 90%. ‘—” ‡ǣ‘™‡Žƒ„‘”ƒ–‹‘‘–Š‡„ƒ•‹•‘ˆƒ•—”˜‡›†ƒ–ƒ‘ˆŽ‘Ȁ ƒ™‘”••‘ ‹ƒ–‹‘”‡•‡ƒ” Š‘DzCondition of the third sector in Poland in 2015dzǤ. ‘’ƒ”‹‰–Š‡•‘—” ‡•‘ˆϐ‹ƒ ‹‰•‘ ‹ƒŽ‡–‡”’”‹•‡•‹‘Žƒ†™‹–Š–Š‡‡–‹–‹‡•‘ˆ •‘ ‹ƒŽ‡ ‘‘›‘ˆ Š‘•‡—”‘’‡ƒ ‘—–”‹‡•ƒ†™‘”Ž†Ǧ™‹†‡ǡ™‡ ƒ‘–‹ ‡–Šƒ– ‹ ʹͲͳͶ –Š‡ ’‡” ‡–ƒ‰‡ ‘ˆ ‘Ž‹•Š •‘ ‹ƒŽ ‡–‡”’”‹•‡• ‹†‹ ƒ–‹‰ –Š‡ ”‡˜‡—‡• ˆ”‘ ‘‡” ‹ƒŽ•ƒŽ‡‘ˆ‰‘‘†•ƒ†•‡”˜‹ ‡•ƒ•ƒˆ‘”‘ˆϐ‹ƒ ‹‰–Š‡‹”ƒ –‹˜‹–›ǡ™ƒ•–Š‡ Š‹‰Š‡•–ȋ͹ͻΨȌǤ ‘™‡˜‡”ǡ–Š‡†‹ˆˆ‡”‡ ‡•ƒ”‡‘–•‘•‹‰‹ϐ‹ ƒ–ƒ•‹ ƒ•‡‘ˆ‘–Š‡” ƒ–‡‰‘”‹‡• ‘ˆ ˆ—†‹‰ •‘—” ‡•Ǥ Š‡ •Šƒ”‡ ‘ˆ •‘ ‹ƒŽ ‡–‡”’”‹•‡• ‹ ’ƒ‹ ϐ‹ƒ ‹‰ –Š‡‹”ƒ –‹˜‹–›ˆ”‘„—•‹‡••™ƒ• Ž‘•‡–‘–Š‡•Šƒ”‡‘ˆ‘Ž‹•Š‡–‹–‹‡•ȋ͹ͶǤͷΨȌǤ‘‰ –Š‡ Žƒ––‡”ǡ –Š‡ ƒ’‹–ƒŽǦ‰ƒ‹‹‰ ƒ–‡‰‘”‹‡• ‘ˆ •—„•‹†‹‡•ǡ †‘ƒ–‹‘• ƒ† ‡„‡”•Š‹’ ˆ‡‡•ǡƒ”‡— Š‘”‡’‘’—Žƒ”ǡ‡˜‡”–Š‡Ž‡••‹™‡†‡ȋ͵͸ǤʹΨȌƒ†‘”–—‰ƒŽȋ͵ͷΨȌ ‹–™ƒ••‹‹Žƒ”ǤŠ‡”‡•—Ž–•‘ˆƒƒŽ›•‹••Š‘™–Šƒ–•‘ ‹ƒŽ‡–‡”’”‹•‡•‹‘Žƒ†ǡƒ•™‡ŽŽ ƒ•‹‘ƒ‹ƒǡ—••‹ƒƒ†’ƒ‹ǡ†‘‘–Šƒ˜‡–Š‡ƒ ‡••–‘ϐ‹ƒ ‹‰‹ƒˆ‘”‘ˆ Ž‘ƒ•ǡ–Š‘—‰Š‹‘–Š‡”—”‘’‡ƒ ‘—–”‹‡•ƒ†‹Š‹ƒ‘Ž›ˆ‡™‡–‹–‹‡•—•‡†–Šƒ– ‹†‘ˆˆ—†‹‰ȋˆ”‘ͲǤͷΨ‹‘”–—‰ƒŽ–‘͵ΨȂͶΨ‹ ‡”ƒ›ƒ†™‡†‡ȌǤ

(41) ‘Žƒ†ǡ–Š‡Žƒ ‘ˆϐ‹ƒ ‹‰‹ƒˆ‘”‘ˆ‹˜‡•–‡–•‹–‘•‘ ‹ƒŽ‡–‡”’”‹•‡•‹• ƒŽ•‘ Ž‡ƒ”Ž›˜‹•‹„Ž‡ ‘’ƒ”‡†–‘‘–Š‡”ƒƒŽ›•‡† ‘—–”‹‡•Ǥš ‡’–Š‹ƒǡ™Š‡”‡ʹͳΨ ‘ˆ †‹• —••‡† ‡–‹–‹‡• ‰ƒ‹‡† •— Š ˆ—†‹‰ǡ ‹ ‘–Š‡” ƒƒŽ›•‡† ‘—–”‹‡• ‹– †‹† ‘– ‘•–‹–—–‡ƒ•‹‰‹ϐ‹ ƒ–•‘—” ‡‘ˆˆ—†‹‰•‘ ‹ƒŽ‡–‡”’”‹•‡•ǤŠ‡•Šƒ”‡‘ˆƒ••‡••‡† ‡–‹–‹‡•—•‹‰‘–Š‡”ˆ‘”•‘ˆ ƒ’‹–ƒŽ ‘–”‹„—–‹‘‹‘Žƒ†ǡƒ•™‡ŽŽƒ•‹‘ƒ‹ƒ ƒ† ‡”ƒ›ǡ™ƒ••‹‹Žƒ”ƒ†”‡ƒ Š‡†͹ȂͻΨǤ. 6. Revenues ƒŽ›•‹‰–Š‡”‡˜‡—‡•‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•‹†‹• —••‡† ‘—–”‹‡•ǡ‹ ”‡ƒ–”‹–ƒ‹ǡ ‘”–—‰ƒŽǡ’ƒ‹ƒ† ‡”ƒ›–Š‡„‹‰‰‡•–•Šƒ”‡‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•‹ʹͲͳͶ”‡ƒ Š‡† –Š‡ ”‡˜‡—‡• Ž‡˜‡Ž ‘ˆ ͳ ‹ŽŽ‹‘ ‡—”‘• ȋͷͷΨǡ ͶͶΨ ƒ† Ͷ͵Ψ ”‡•’‡ –‹˜‡Ž›Ȍǡ ƒ† –Š‡ •ƒŽŽ‡•–•Šƒ”‡‹—••‹ƒȂŒ—•–ͷΨǤ ‘™‡˜‡”ǡ—••‹ƒ•‘ ‹ƒŽ‡–‡”’”‹•‡•ˆ‘”‡†–Š‡ „‹‰‰‡•–•Šƒ”‡‘ˆ‡–‹–‹‡•™Š‹ ŠŠƒ†–Š‡”‡˜‡—‡•Ž‘™‡”–ŠƒͺͲͲͲͲ‡—”‘•ǡ•‹‹Žƒ”Ž› ƒ• Š‹‡•‡ ‡–‡”’”‹•‡• Ȃ ͷʹΨǤ

(42)  –—”ǡ ‹ ”‡ƒ– ”‹–ƒ‹ ‡”‡Ž› ͷΨ ‘ˆ ‡–‹–‹‡• ‘ˆ. ͳʹͳ.

(43) ”‘„Ž‡•ƒ†’‹‹‘•. ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. •‘ ‹ƒŽ ‡ ‘‘› ”‡ƒ Š‡† –Š‡ Ž‘™‡•– Ž‡˜‡Ž ȋ”ƒ‰‡Ȍ ‘ˆ ”‡˜‡—‡•Ǥ Š‡ „‹‰‰‡•– •Šƒ”‡ ‘ˆ ™‡†‹•Šǡ Š‹‡•‡ǡ —‰ƒ”‹ƒ ƒ† —••‹ƒ ‡–‹–‹‡• ™ƒ• ’Žƒ ‡† ‹ –Š‡ ”ƒ‰‡ ‘ˆ ͺͲȂʹͲͲ –Š‘—•ƒ† ‡—”‘• ‘ˆ ”‡˜‡—‡• ȋ͵͵ǤͷΨǡ ʹͶΨǡ ʹ͵Ψ ƒ† ʹʹΨ ”‡•’‡ –‹˜‡Ž›ȌǤ ‡˜‡—‡•‡š ‡‡†‹‰ͷͲͲ–Š‘—•ƒ†‡—”‘•™‡”‡”‡ƒ Š‡†„›ʹ͵Ψ‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡• ‹ —‰ƒ”› ƒ† ‘ƒ‹ƒ ƒ† ƒ „‹– Ž‡•• ȋʹͲΨȌ ‹ ”‡ƒ– ”‹–ƒ‹Ǥ  •‹‹Žƒ” •Šƒ”‡ Ȃ ƒ’’”‘šǤͳʹΨ‘ˆƒƒŽ›•‡†‡–‹–‹‡•ǡ ‘’ƒ”‡†–‘‘•–‘ˆ–Š‡ƒƒŽ›•‡† ‘—–”‹‡•ǡŠƒ† –Š‡”‡˜‡—‡•‹–Š‡”ƒ‰‡‘ˆͲǡͷȂͳ‹ŽŽ‹‘‡—”‘•Ǥ —‹‰—’ǡ‹ʹͲͳͶ–Š‡Š‹‰Š‡•–”‡˜‡—‡•ȋ‡š ‡‡†‹‰ͳ‹ŽŽ‹‘‡—”‘•Ȍ™‡”‡”‡ƒ Š‡† „›•‘ ‹ƒŽ‡–‡”’”‹•‡•‘’‡”ƒ–‹‰‹ ”‡ƒ–”‹–ƒ‹ƒ†‘”–—‰ƒŽǡ–Š‡Ž‘™‡•–ȋŽ‡••–Šƒ ͺͲ–Š‘—•ƒ†‡—”‘•Ȍ‹—••‹ƒƒ†Š‹ƒǤ

(44) –Š‡•ƒ‡ ‘—–”‹‡•ǡƒ†‘‹ƒ–•Šƒ”‡ ‘ˆ‡–‹–‹‡•–Šƒ–”‡ƒ Š‡†–Š‡Ž‘™‡•–Ž‡˜‡Ž‘ˆ”‡˜‡—‡•‹•˜‹•‹„Ž‡Ǥ––Š‡•ƒ‡–‹‡–Š‡ –”‡†‹ ”‡ƒ–”‹–ƒ‹‹•‘’’‘•‹–‡ȋ•‡‡–ƒ„Ž‡͵ȌǤ. Revenues (in 1000 EUR). Hungary. Romania. Portugal. Russia. China. Germany. Sweden. Great Britain. Spain. Table 3. Revenues of social enterprises in chosen European countries and world-wide in 2014 (in %). —’–‘ͺͲ. ʹ͸. ͵͵. ʹͳ. ͷͻ. ͷʹ. ʹ͹. ͳͶ. ͷ. ʹͲ. ͺͲȂʹͲͲ. ʹ͵. ͳͺ. ͻǡͷ. ʹʹ. ʹͶ. ͺ. ͵͵Ǥͷ. ͺ. ͳ͵. ʹͲͲȂͷͲͲ. ʹ͵. ʹ͵. ͳͲǤͷ. ͻ. ͹. ͳʹ. ͳͻ. ʹͲ. ͳ͵. ͷͲͲȂͳͲͲͲ. ͳ͵. ͳʹ. ͳͷ. ͷ. ͷ. ͳʹ. ͳʹ. ͳͳǤͷ. ͳͳ. ‘”‡–Šƒ ͳͲͲͲ. ͳͷ. ͳͶ. ͶͶ. ͷ. ͳʹ. Ͷͳ. ʹͳǤͷ. ͷͷǤͷ. Ͷ͵. ‘—” ‡ǣ‘™‡Žƒ„‘”ƒ–‹‘‘–Š‡„ƒ•‹•‘ˆ D”‡’‘”–ȏ™™™Ǥ‡ˆ‘”‹•Ǥ‡—ȐǤ. ‘™‡˜‡”ǡ‹‘Žƒ†‹ʹͲͳͶ–Š‡„‹‰‰‡•–•Šƒ”‡‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•ȋͷͲǤ͸ΨȌ”‡ƒ Š‡† ƒƒ—ƒŽ”‡˜‡—‡Ž‡••–ŠƒͺͲ–Š‘—•ƒ†‡—”‘•ǤͳͷǤͷΨ‘ˆ •”—‹‰ƒ„—•‹‡•• Šƒ†–Š‡ƒ—ƒŽ”‡˜‡—‡‘˜‡”ʹͲͲ–Š‘—•ƒ†‡—”‘•ǡŠ‘™‡˜‡”Ž‘™‡”–ŠƒͷͲͲ–Š‘—•ƒ† ‡—”‘•Ǥ„‹–•ƒŽŽ‡”•Šƒ”‡ȋͳ͵ǤͶΨȌ‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•‹‘Žƒ†”‡’‘”–‡†”‡˜‡—‡• ‹–Š‡”ƒ‰‡‘ˆͺͲȂʹͲͲ–Š‘—•ƒ†‡—”‘•Ǥ

(45) –—”ǡͺΨ‘ˆ–Š‡•‘ ‹ƒŽ‡ ‘‘›‡–‹–‹‡• ™‡”‡ Žƒ••‹ϐ‹‡† ‹ –Š‡ ”ƒ‰‡ ‘ˆ ͲǤͷȂͳ ‹ŽŽ‹‘ ‡—”‘•Ǥ Š‡ Š‹‰Š‡•– ”‡˜‡—‡• ȋ‘˜‡” ͳ‹ŽŽ‹‘‡—”‘•’‡”ƒ—Ȍƒ’’‡ƒ”‡†‹ ƒ•‡‘ˆͶͺ•‘ ‹ƒŽ‡–‡”’”‹•‡•ȋͳʹǤͶΨȌǤ ‘’ƒ”‹‰–Š‡”‡˜‡—‡•‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•‹‘Žƒ†–‘‡–‹–‹‡•‘ˆ•‘ ‹ƒŽ‡ ‘‘› ‹ ƒƒŽ›•‡† —”‘’‡ƒ ‘—–”‹‡• ƒ† ™‘”Ž†Ǧ™‹†‡ ™‡ ƒ ‘–‹ ‡ –Šƒ– –Š‡ •Šƒ”‡ ‘ˆ ‘Ž‹•Š •‘ ‹ƒŽ ‡–‡”’”‹•‡• ȋͷͲǤ͸ΨȌ ™Š‹ Š ”‡ƒ Š‡† –Š‡‹” ”‡˜‡—‡• ‘ –Š‡ Ž‘™‡•– Ž‡˜‡ŽȋŽ‡••–ŠƒͺͲ–Š‘—•ƒ†‡—”‘•Ȍ‹•Ž‹‡–Š‡•Šƒ”‡‘ˆ‡–‹–‹‡•‹Š‹ƒƒ†—••‹ƒ ȋ”‡•’‡ –‹˜‡Ž›ͷʹΨƒ†ͷͻΨȌǤ‹‹Žƒ”Ž›ǡƒ•ƒŽŽ•Šƒ”‡Ȃ‡”‡Ž›ͺΨȂ‘ˆ‘Ž‹•Š•‘ ‹ƒŽ ‡–‡”’”‹•‡•”‡ƒ Š‡†”‡˜‡—‡•‹–Š‡”ƒ‰‡‘ˆͲǤͷȂͳ‹ŽŽ‹‘‡—”‘•‹ƒƒŽ›•‡†’‡”‹‘†Ǥ. ͳʹʹ.

(46) ”‘„Ž‡•ƒ†’‹‹‘•. ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. — Š •Šƒ”‡ ‹• •‹‹Žƒ” –‘ –Š‡ •Šƒ”‡ ‘ˆ —••‹ƒ ƒ† Š‹ƒ ȋͷΨȌǤ

(47)  –—”ǡ ™Š‡ ™‡ ‘•‹†‡””ƒ‰‡•‘ˆͺͲȂʹͲͲ–Š‘—•ƒ†ƒ†ʹͲͲȂͷͲͲ–Š‘—•ƒ†‡—”‘•–Šƒ––Š‡•Šƒ”‡‘ˆ •‘ ‹ƒŽ‡–‡”’”‹•‡•‹‘Žƒ†‹••‹‹Žƒ”–‘–Š‡•Šƒ”‡™Š‹ Š Šƒ”ƒ –‡”‹•‡•’ƒ‹Ǥ Table 4. Revenues of social enterprises in Poland in 2014. Revenues (in 1000 EUR). number of SE. share of SE (in %). —’–‘ͺͲ. ͳͻ͸. ͷͲǤ͸. ͺͲȂʹͲͲ. ͷʹ. ͳ͵ǤͶ. ʹͲͲȂͷͲͲ. ͸Ͳ. ͳͷǤͷ. ͷͲͲȂͳͲͲͲ. ͵ͳ. ͺ. ‘”‡–ŠƒͳͲͲͲ. Ͷͺ. ͳʹǤͶ. ȗš Šƒ‰‡”ƒ–‡Ȃͳ‡—”‘αͶǤͳͺͶͷ ‘—” ‡ǣ‘™‡Žƒ„‘”ƒ–‹‘‘–Š‡„ƒ•‹•‘ˆƒ•—”˜‡›†ƒ–ƒ‘ˆ–‘™ƒ”œ›•œ‡‹‡Ž‘Ȁ ƒ™‘””‡•‡ƒ” Š‘DzCondition of the third sector in Poland in 2015dzǤ. 7. Conclusions Š‡ ’Š‡‘‡‘ ‘ˆ ƒ”‡–‹œƒ–‹‘ ‘ˆ ‘Ǧ’”‘ϐ‹– ‘”‰ƒ‹•ƒ–‹‘• ‹• ‡š’”‡••‡† ‹ ƒ‹‰‡ˆˆ‘”–•„›–Š‡•‡‡–‹–‹‡•–‘ƒ†‘’–‡–”‡’”‡‡—”‹ƒŽ„‡Šƒ˜‹‘—”•ǡ Šƒ”ƒ –‡”‹•–‹  ˆ‘” ‘‡” ‹ƒŽ ‡–‡”’”‹•‡•Ǥ Š‡ ˆ‘—†ƒ–‹‘ ‘ˆ –Šƒ– ’”‘ ‡•• ‹• ‰ƒ‹‹‰ ƒ††‹–‹‘ƒŽ ƒ’‹–ƒŽ–Š”‘—‰Š ‘‡” ‹ƒŽ•ƒŽ‡‘ˆ‰‘‘†•ƒ†•‡”˜‹ ‡•–‘ˆ—Žϐ‹Ž•‘ ‹ƒŽ‹••‹‘ǤŠ‡ ƒ ‡••–‘ˆ—†‹‰‹•ƒ˜‹–ƒŽ ‘†‹–‹‘ˆ‘”•‘ ‹ƒŽ‡–‡”’”‹•‡•–‘‡š’ƒ†–Š‡‹”‹’ƒ –Ǥ ‡•—Ž–•‘ˆƒƒŽ›•‹•‹†‹ ƒ–‡–Šƒ––Š‡”‡˜‡—‡•ˆ”‘„—•‹‡••ƒ –‹˜‹–›ƒ”‡•‹‰‹ϐ‹ ƒ– •‘—” ‡‘ˆ•‘ ‹ƒŽ‡–‡”’”‹•‡•ǯ ƒ’‹–ƒŽ‹ƒ›—”‘’‡ƒ ‘—–”‹‡•ǡ‹ Ž—†‹‰‘Žƒ†Ǥ „˜‹‘—•Ž›ǡ–Š‡›ƒ”‡‘––Š‡‘Ž›™ƒ›–‘‰ƒ‹ ƒ’‹–ƒŽǤ‘‰‘–Š‡”ˆ‘”•‘ˆ ƒ’‹–ƒŽ ‘–”‹„—–‹‘ǡ ™‡ •Š‘—Ž† •‹‰Ž‡ ‘—–ǡ ƒ‘‰ ‘–Š‡” –Š‹‰•ǡ •—„•‹†‹‡•ǡ †‘ƒ–‹‘• ‘” ‡„‡”•Š‹’ ˆ‡‡•Ǥ ‘™‡˜‡”ǡ –Š‡ •Šƒ”‡ ‘ˆ •‘ ‹ƒŽ ‡–‡”’”‹•‡• —•‹‰ –Š‘•‡ •‘—” ‡• ˜ƒ”‹‡• ‹ ‹†‹˜‹†—ƒŽ ‘—–”‹‡•Ǥ

(48)  ‘Žƒ†ǡ –Š‡ •Šƒ”‡ ‘ˆ †‡• ”‹„‡† ‡–‹–‹‡•ǡ ™Š‹ Š ϐ‹ƒ ‡–Š‡‹”ƒ –‹˜‹–‹‡•ˆ”‘–Š‡ ‘‡” ‹ƒŽ•ƒŽ‡‘ˆ‰‘‘†•ƒ†•‡”˜‹ ‡•ǡ‹•–Š‡„‹‰‰‡•– ‘’ƒ”‡†–‘‘–Š‡”ƒƒŽ›•‡† ‘—–”‹‡•ǡ•‹‹Žƒ”Ž›‹ ƒ•‡‘ˆ•—„•‹†‹‡•ƒ††‘ƒ–‹‘•Ǥ ‘‡–Š‡Ž‡••ǡ•‘‡ˆ‘”•‘ˆ ƒ’‹–ƒŽ ‘–”‹„—–‹‘ƒ”‡‹ƒ ‡••‹„Ž‡ǡ‡Ǥ‰Ǥ‹˜‡•–‡–• ‘”Ž‘ƒ•Ǥ‹‰‹ϐ‹ ƒ–†‹ˆˆ‡”‡ ‡•ƒ‘‰–Š‡ ‘—–”‹‡•ƒ”‡˜‹•‹„Ž‡ƒŽ•‘‹”‡Žƒ–‹‘–‘ –Š‡ Ž‡˜‡Ž ‘ˆ ”‡˜‡—‡•Ǥ ‘•– ‘ˆ ‘Ž‹•Š •‘ ‹ƒŽ ‡–‡”’”‹•‡•ǡ ƒ• ™‡ŽŽ ƒ• —••‹ƒǡ ”‡ƒ Š ”‡˜‡—‡•™Š‹ Š†‘‘–‡š ‡‡†–Š‡Ž‘™‡•–”ƒ‰‡‘ˆ”‡˜‡—‡•ȋͺͲ–Š‘—•ƒ†‡—”‘•ȌǤ ‡˜‡—‡•‘˜‡”ͳ‹ŽŽ‹‘‡—”‘•ƒ”‡ Šƒ”ƒ –‡”‹•–‹ ‘Ž›ˆ‘”ˆ‡™•‘ ‹ƒŽ‡–‡”’”‹•‡•‹ ‘Žƒ†ǡ™Š‹Ž‡‹ ”‡ƒ–”‹–ƒ‹ǡ‘”–—‰ƒŽǡ’ƒ‹ǡ ‡”ƒ›ƒ†™‡†‡–Š‡•Šƒ”‡‘ˆ •— Š‡–‹–‹‡•‹•— Š„‹‰‰‡”Ǥ”‡•‡–‡†”‡•—Ž–•”‡“—‹”‡ˆ—”–Š‡””‡•‡ƒ” Š™Š‹ Š™‹ŽŽ ‡š’Žƒ‹–Š‡”‡ƒ•‘•‘ˆ”‡˜‡—‡Ž‡˜‡Ž†‹ˆˆ‡”‡–‹ƒ–‹‘”‡ƒ Š‡†„›•‘ ‹ƒŽ‡–‡”’”‹•‡•‹ –Š‡‹–‡”ƒ–‹‘ƒŽ ‘–‡š–Ǥ. ͳʹ͵.

(49) ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. ”‘„Ž‡•ƒ†’‹‹‘•. Bibliography ‹ŽŽ‹•ǡǤȋ†ǤȌǤȋʹͲͳͲȌǤHybrid organizations and the third sector: Challenges for practice, theory and policyǤ ƒ•Š‹”‡ǡǣƒŽ‰”ƒ˜‡ƒ ‹ŽŽƒǤ ”ƒ†•–‡––‡”ǡǤǡ‡Š‡”ǡǤǤȋʹͲͳͶȌǤImpact Investment Portfolios: Including Social Risks and Returnsǡǡšˆ‘”†—„Ž‹•Š‹‰ ‘—•‡ǡ šˆ‘”†Ǥ ƒ””‘ŽŽǡǤǤǡ–ƒ–‡”ǡǤ ǤȋʹͲͲͻȌǤRevenue diversiϔication in nonproϔit organizations: does it lead to ϔinancial stability? ‘—”ƒŽ‘ˆ—„Ž‹ †‹‹•–”ƒ–‹‘‡•‡ƒ” Šƒ†Š‡‘”›ǡͳͻȋͶȌǡͻͶ͹Ȃͻ͸͸Ǥ Šƒ‰ǡǤ Ǥǡ— ƒǡ ǤǤȋͳͻͻͶȌǤRevenue diversiϔication among nonproϔits.‘Ž—–ƒ•ǣ

(50) –‡”Ǧ ƒ–‹‘ƒŽ ‘—”ƒŽ‘ˆ‘Ž—–ƒ”›ƒ†‘’”‘ϐ‹–”‰ƒ‹œƒ–‹‘•ǡͷȋ͵Ȍǡʹ͹͵ȂʹͻͲǤ ƒ”–ǡǤȋʹͲͲͶƒȌǤBeing “business-like” in a nonproϔit organization: A grounded and inductive typologyǡ‘’”‘ϐ‹–ƒ†‘Ž—–ƒ”›‡ –‘”—ƒ”–‡”Ž›ǡ͵͵ǡʹͻͲȂ͵ͳͲǤ ƒ”–ǡǤȋʹͲͲͶ„ȌǤThe legitimacy of social enterpriseǡ‘’”‘ϐ‹–ƒƒ‰‡‡–Ƭ‡ƒ†‡”•Š‹’ǡ ͳͶǡͶͳͳȂͶʹͶǤ ‡‡•ǡ Ǥ ǤȋͳͻͻͺȌǤEnterprising nonproϔitsǡ ƒ”˜ƒ”†„—•‹‡••”‡˜‹‡™ǡ͹͸ǡͷͶȂ͸ͻǤ ‡ˆ‘—”›ǡ Ǥǡ›••‡•ǡǤǡʹͲͲ͹ǡDeϔining social enterpriseǡ‘ ‹ƒŽ‡–‡”’”‹•‡ǣ––Š‡ ”‘••”‘ƒ†• ‘ˆƒ”‡–ǡ’—„Ž‹ ’‘Ž‹ ‹‡•ƒ† ‹˜‹Ž•‘ ‹‡–›ǡ‘Ǥ͵Ǥ ‹‡„‡””›ǡǤǤǡŽ—˜‡”ǡ ǤǤȋʹͲͲͶȌǤThe marketization of the nonproϔit sector: Civil society at risk?ǡ —„Ž‹ ƒ†‹‹•–”ƒ–‹‘”‡˜‹‡™ǡ͸ͶȋʹȌǡͳ͵ʹȂͳͶͲǤ Œ‘Ž”ƒ•ǡǤȋʹͲͲʹȌǤThe commercialization of voluntary sport organizations in Norway.‘Ǧ ’”‘ϐ‹–ƒ†‘Ž—–ƒ”›‡ –‘”—ƒ”–‡”Ž›ǡ͵ͳȋ͵Ȍǡ͵ͷʹȂ͵͹͸Ǥ ˜‡”•ǡǤȋʹͲͲͷȌǤ‹š‡†™‡Žˆƒ”‡•›•–‡•ƒ†Š›„”‹†‘”‰ƒ‹œƒ–‹‘•ǣŠƒ‰‡•‹–Š‡‰‘˜‡”ƒ ‡ ƒ†’”‘˜‹•‹‘‘ˆ•‘ ‹ƒŽ•‡”˜‹ ‡•ǤInternational Journal of Public Administrationǡʹͺǡ͹͵͸Ȃ͹ͶͺǤ ˜‡”•ǡǤǡƒ— ŠǡǤǡƬ–‹–œǡǤȋʹͲͲʹȌǤVon öffentlichen Einrichtungen zu sozialen Unternehmen ȏ ”‘’—„Ž‹ •‡”˜‹ ‡•–‘•‘ ‹ƒŽ‡–‡”’”‹•‡•ȐǤ‡”Ž‹ǡ ‡”ƒ›ǣ‹‰ƒǤ ‘•–‡”ǡǤǡ”ƒ†ƒ Šǡ ǤȋʹͲͲͷȌǤShould nonproϔits seek proϔits? ƒ”˜ƒ”†—•‹‡••‡˜‹‡™ǡͻʹȂ ͳͲͲǤ ”ƒˆ‘”–Ǧƒ Š‹ƒ•ǡŠǤǡƒ Š‹ƒ•ǡǤȋʹͲͲͳȌǤMetody badawcze w naukach spoÏecznychǡ›Ǧ †ƒ™‹ –™‘›•‹Ǧƒǡ›†ƒ‹‡

(51) ǡ‘œƒÑǤ ”‘‡Ž‹ Šǡ ǤǤ ȋͳͻͻͻȌǤDiversiϔication of revenue strategies: Evolving resource dependence in nonproϔit organizationsǤ‘’”‘ϐ‹–ƒ†‘Ž—–ƒ”›‡ –‘”—ƒ”–‡”Ž›ǡʹͺȋ͵ȌǡʹͶ͸Ǧʹ͸ͺǤ ”—‹ǡǤǡ‡ƒ–‹‰ǡǤǤȋʹͲͳͳȌǤDiversiϔication reconsidered: The risks and rewards of revenue concentrationǤ ‘—”ƒŽ‘ˆ‘ ‹ƒŽ–”‡’”‡‡—”•Š‹’ǡʹȋʹȌǡͳͷͳȂͳ͸ͶǤ. ‡‘„‡›ǡǤǡ‡„‡”ǡǤȋʹͲͳ͵ȌǤLessons in operationalizing social ϔinance: the case of Vancouver City Savings Credit Unionǡ ‘—”ƒŽ‘ˆ—•–ƒ‹ƒ„Ž‡ ‹ƒ ‡Ƭ

(52) ˜‡•–‡–ǡ͵ȋʹȌǤ. ”ƒ••ŽǡǤǡȋʹͲͳʹȌǤHybrid Forms of Business: The Logic of Gift in the Commercial Worldǡ ‘—”ƒŽ ‘ˆ—•‹‡••–Š‹ •ǡ‘ǤͳͲͶǤ. ͳʹͶ.

(53) ƒˆ‡ƒʹȋ͹ͳȌʹͲͳͺ. ”‘„Ž‡•ƒ†’‹‹‘•. ”‘Š•ǡ Ǥǡ  Š‡‹†‡”•ǡ Ǥǡ Ƭ ‡‹œ‡ǡ Ǥ Ǥ ȋʹͲͳͷȌǤ ‘ ‹ƒŽ –”‡’”‡‡—”•Š‹’ ‡”•—•

(54) –”ƒ’”‡Ǧ ‡—”•Š‹’ ‹ –Š‡ ‡”ƒ ‘ ‹ƒŽ ‡Žˆƒ”‡ –ƒ–‡ǣ  –—†› ‘ˆ Ž†Ǧ‰‡ ƒ”‡ ƒ† ‘—–Š ‡Žˆƒ”‡ ‡”˜‹ ‡•ǤNonproϔit and voluntary sector quarterlyǡͶͶȋͳȌǡͳ͸͵ȂͳͺͲǤ ƒ‰‡”ǡ Ǥ ȋʹͲͲͳȌǤ Financial vulnerability among arts organizations: A test of the Tuckman-Chang measures.‘’”‘ϐ‹–ƒ†‘Ž—–ƒ”›‡ –‘”—ƒ”–‡”Ž›ǡ͵ͲȋʹȌǡ͵͹͸Ȃ͵ͻʹǤ Š––’ǣȀȀˆƒ–›Ǥ‰‘Ǥ’ŽȀϐ‹Ž‡•Ȁ™‹ƒ†‘‘• ‹Ǥ‰‘Ǥ’ŽȀ’—„Ž‹ Ȁ ‹˜‹ ’‡†‹ƒȀ‘†› Œƒ ʹͲͳͷǤ’†ˆǡ •Ǥʹ͵Ͳȏ ‡••‡†ǣʹͲƒ”œ‡ ʹͲͳ͹ȐǤ —”ƒ•œ‡Ǧ‘’ƒ œǡǤǡ‹‡‹ ƒǡǤǡƒ‰”‘†œƒǡǤȋʹͲͲͺȌǤǷ‘‘‹œƒ Œƒ‘”‰ƒ‹œƒ Œ‹’‘œƒ”œ¦†‘Ǧ ™› ŠȂ™›œ™ƒ‹ƒ‹•œƒ•‡‘‹‡’”ƒ–›×™ǡEkonomia SpoÏeczna TekstyǡͳͲǤ ‡ƒ–‹‰ǡǤǡ ‹• Š‡”ǡǤǡ ‘”†‘ǡǤǡ ”‡‡Ž‡‡ǡ ǤȋʹͲͲͷȌǤAssessing ϔinancial vulnerability in the nonproϔit sector. ƒ—•‡”‡–‡”ˆ‘”‘’”‘ϐ‹–”‰ƒ‹œƒ–‹‘•ǡ ƒ”˜ƒ”†‹˜‡”•‹–›‘”‹‰ƒ’‡”Ǥ ‡”Ž‹ǡ ǤǤǡ‘ŽŽƒǡǤȋʹͲͲ͸ȌǤNonproϔit commercial revenue: A replacement for declining government grants and private contributions? ƒ’‡” ’”‡•‡–‡† ƒ– –Š‡ Š‹”† —ƒŽǡ ‹–‡† ‹‰†‘‘ ‹ƒŽ–‡”’”‹•‡‡•‡ƒ” Š‘ˆ‡”‡ ‡ǡ‘†‘Ǥ ‹‰ǡǤȋʹͲͲ͸ȌǤPink ribbons, inc.: Breast cancer and the politics of philanthropyǡ‹‡ƒ’‘Ž‹• ‹˜‡”•‹–›‘ˆ‹‡•‘–ƒ”‡••ǡ‹‰†‘‘ ‹ƒŽ–‡”’”‹•‡‡•‡ƒ” Š‘ˆ‡”‡ ‡ǡ‘†‘Ǥ ƒ‹‡”ǡ Ǥǡ ‡›‡”ǡ Ǥǡ –‡‹„‡”‡‹–Š‡”ǡ Ǥ ȋʹͲͳ͸ȌǤ Nonproϔit Organizations Becoming Business-Like A Systematic Reviewǡ‘’”‘ϐ‹–ƒ†‘Ž—–ƒ”›‡ –‘”—ƒ”–‡”Ž›ǡͶͷȋͳȌǡ͸ͶȂͺ͸Ǥ ‹‘σŒ œƒǡǤǡȋʹͲͳ͹ƒȌǤImportance of funding sources to the scale of activity of social enterprisesǡ ‹ƒ•‡ǡ›‹ ‹ƒ•‘™‡ǡ„‡œ’‹‡ œ‡‹ƒǡͶȀͺͺǤ ‹‘σŒ œƒ, ǤǡȋʹͲͳ͹„ȌǤ}”׆σ i instrumenty ϔinansowego wsparcia przedsi¸biorstw spoÏecznychǡ›†ƒ™‹ –™‘ǡ‘œƒÑǤ ‹‘σŒ œƒǡ Ǥǡ œ–‡”ƒ•–›ǡ Ǥ ȋʹͲͳͷȌǤ Wspieranie rozwoju przedsi¸biorstw ekonomii spoÏecznej w Polsce przez fundusze europejskieǡ‡•œ›–›ƒ—‘™‡‹™‡”•›–‡–—œ œ‡ ‹Ñ•‹‡‰‘ǡ ‘‘‹ œ‡”‘„Ž‡›•Ï—‰ǡ™ƒ”—‘™ƒ‹ƒ”›‘™‡”‘œ™‘Œ—‹”‘ǡƒÏ› Š‹䔇†‹ Š ’”œ‡†•‹¸„‹‘”•–™ǡ‹”‘ϐ‹”ƒʹͲͳͷǡͶʹͲȂͶ͵ʹǤ ǯ‘‘Š‘‡ǡǤǡ‡‹Œ‘Š—ˆ˜—†ǡǤǡƒŽ–—ǡǤǡ—‰‰Ǧ‡˜‹‡ǡǤǡ”ƒ†‡„—”‰ǡǤȋʹͲͳͲȌǤImpact Investments: An emerging asset classǡ‘”‰ƒ Ž‘„ƒŽ‡•‡ƒ” Šǡ‘†‘Ǥ  Š‹ƒ‡ǡ Ǥǡ ȋʹͲͳͷȌǤ Finansowanie przedsi¸biorstw spoÏecznych w Polsceǡ ‘‘‹ƒ ’‘Ǧ χ œƒǡʹǡ͹ȂʹͲǤ ‹’•‘ǡǤǡŠ‡‡›ǡ ǤȋʹͲͲ͹ȌǤMarketization, participation, and communication within New Zealand retirement villages: A critical-rhetorical and discursive analysisǡ‹• ‘—”•‡Ƭ‘—Ǧ ‹ ƒ–‹‘ǡͳǡͳͻͳȂʹʹʹǤ ›‰ƒÑ•‹ǡ Ǥǡ ȋʹͲͲͺȌǤ Ekonomizacja organizacji posarz¦dowychǡ ƒ”œ¦†œƒ‹‡ —„Ž‹ œ‡ǡ ͳȋ͵Ȍǡʹ͵Ȃ͸͹Ǥ. ͳʹͷ.

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Dlatego wszyscy człon­ kow ie zakonu m arianów z miłości k u Bogu pow inni zachowywać przykazania Boże, ra d y ewangeliczne, zarządzenia Kościoła rzym

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The factors that facilitate it are: the increase in the number of children who leave their foster families or childcare institutions and return to their biological families, the

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W przeciwie«stwie do tego, w przypadku rozdzielonych pasm walencyjnych, zale»no±¢ mi¦dzy energi¡ wymiany a odlegªo±ci¡ pomi¦dzy kropkami jest dla tego zakresu odlegªo±ci

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Sentences containing ‘God’ have a particular status: one cannot simply state that they have a mean- ing (since a complete description and with it a complete representation is

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Nie zmienia to jednak faktu, iż króliczy obornik jest bardzo wartościowym nawozem naturalnym, a jego skład może być różny w zależności od wielu czynników. W związku z tym

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The increase in expenditures on benefits for natural persons resulted primarily from the imple- mentation of the government programme “Family 500 Plus .” As a positive note,

View of Making Work Sustainable in Business and Social Enterprises

We have outlined an analytical framework with some empirical analysis of the ratios between productivity of labour and remuneration and their respect- ive changes in relation to