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Purpose Public involvement is essential in the creation of effective local strategies for the development of a sustainable built environment, yet there has been little research on stakeholder motivation and engagement in the creation of infrastructure-project value, in the entire life cycle of a given project, while different markets show that overlooking stakeholders can negatively affect the success of an infrastructure project. The purpose of this paper is to fill the theory-practice gap that has been discerned, and thus study how early public involvement determines the success of an infrastructure project, which is identified with its value creation (effectiveness, sustainability and utility). Design/methodology/approach This research entails a combination of methods. A case study analysis allowed observation of the role the stakeholders play and of how the relationships, perspectives, expectations and risks, along with other soft issues, continue to affect projects. The case study required comprehensive examination of project documentation and conduction of interviews. To collect data, focused group interviews and semi-structured interviews were used, supported with direct questionnaire surveys. Findings The study provides evidence that early public engagement can contribute to infrastructure-project value (effectiveness, sustainability and utility). Practically speaking, the stakeholder analysis performed allowed proposal of a general stakeholder analysis framework for infrastructure projects. It can be implemented at each investment phase of the project life cycle, since stakeholders and their motivation may develop and/or change over time, which necessitates development of proper managerial strategies. The findings highlight the opportunities and the challenges faced by stakeholder management. Research limitations/implications The limitation of this study derives from the fact that the sample size was small, which was necessary for an in-depth qualitative research and application of the case study method. The observations were made on a selected case study, within a limited period of time, thus the context of the analysis as well as the stakeholder perception was subject to possible change. The research limitations concern the provisional nature of the information obtained, the cross-sectional nature of the analysis itself, and, finally, the inability to predict all future events. Ultimately, stakeholder mapping was performed for the operational phase of the investment exclusively, while the analysis was limited to identification and classification of the stakeholders, including their relationship with the project. Practical implications The research conclusions provide useful input for future research on development of effective strategies for management of the shareholders that are related to a given infrastructure project, in order to achieve project success. Simultaneously, from a property perspective, the research has contributed to a better understanding of the importance of infrastructure, on the part of real estate stakeholders. Social implications Application of the approach proposed in the study may contribute to early development and implementation of appropriate trust-building processes. The building of relationships between stakeholders enables checks and balances, promotes short- and long-term project benefits, and increases the value of a project. Originality/value The novelty of the research consists in the connection, as part of infrastructure projects, of the theory of consumption values and the concept of an investment cycle with the framework of stakeholder analysis.

The risk of the increasing divergence of the eurozone and the problem of macroeconomic imbalances in a three-gap model Jacek Pera Structural barriers to research and development activities in emerging markets Review, Vol. 2 (16), No. 2, 2016: 94-112 DOI: 10.18559/ebr.2016 The attitude to luxury amongst young Polish and Portuguese consumers 1 Wioleta Dryl, 2 Arkadiusz Kozłowski 3 Abstract : The aim of this paper is to examine the differences between Polish and Portuguese young consumer attitude to luxury. Studies on the perception of luxury and the consumer attitude to this phenomenon are based on many factors and take into account different sets of variables. The process of changes in this field is very dynamic-and the results obtained are often not compatible with the results of previous studies. Unanimity in this area can be guaranteed only by a comprehensive approach to the problem, based on international, intercultural studies, taking into account factors perceived as being essential for the understanding of consumer attitude to luxury. According to the results of worldwide research carried out so far, the attitude to luxury differs amongst consumers belonging to different cultures, nationalities, religions and regions with different levels of economic development. Many authors emphasize the fact that also psychological variables such as social compliance, desirability and selfmonitoring, may play a role in consumer attitude to luxury. The authors of the article conducted a survey amongst young consumer from Poland and Portugal, to test if significant differences occur amongst these two groups' attitude to luxury.

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Luxury product is a very ambiguous concept. The most commonly cited in the literature barrier to the creation of a universal definition of luxury is the relativity of the concept. The relativity of luxury nature of the product takes the form of regional, temporal, economic, cultural, situational, and also due to the individual characteristics of the consumer. It should be therefore considered how to shape the product and which marketing tools should be used, to give and keep a luxury image of it. Analysis of the literature in the field of sciences such as management, sociology, psychology or marketing clearly indicates the growing interest in both the concept of luxury as well as luxury goods. It should be noted, however, that according to the results of research on the perception of luxury, consumers from different countries, cultures show different features of the product as important from the point of view of the luxury nature of the good. The aim of article is identification of differences in the perception of luxury between consumers from different countries, representing different cultures, as well as the specifics of managing a luxury product depending on the country of its origin.