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Advancing Comparative Research on the Extent and Impacts of Intermunicipal Cooperation

Author(s): Troy Mix,Eduard Bakoš,Filip Hrůza / Language(s): English Publication Year: 0

Why do municipalities cooperate and what are the main impacts of such cooperation? Though intermunicipal cooperation (IMC) is not a new public administration topic, answers to these basic questions remain unsettled. In an effort to address these questions, this paper scopes a cross-national comparative research agenda on IMC by 1) identifying data sources and methods that can reveal the extent and impacts of IMC in the Czech Republic and the US and 2) characterizing the implementation of IMC in these settings.

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Tax Evasion Views - European Values Study Results

Author(s): Hana Zídková,Jana Tepperová,Karel Helman / Language(s): English Publication Year: 0

Tax morale and compliance are currently high on the developed countries’ governmental agenda. Tax policymakers search for ways to prevent tax evasion. Tax collection and inclinations towards tax evasion are related not only to taxation system features, but also to institutional and social factors, such as citizens’ beliefs and values. We use the European Value Study survey and compare particular countries by their citizens’ willingness to justify cheating on taxes and paying in cash to avoid taxation. The responses to the questions are scaled from 1 to 10, where 1 represents zero tolerance for tax evasion or paying cash, thus enabling it.

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Region to Region Comparison of Selected Social Services for Senior Citizens

Author(s): Miloslava Kašparova,Jiří Křupka,Pavel Jirava / Language(s): English Publication Year: 0

This contribution deals with the topic of certain social services provided on the level of and by the Czech Republic [CR) administrative regions. This contribution is focused senior citizens [elderly) target group. The objective of a background study executed for the purpose of this contribution was to identify how social services for this target group had developed with time. The objective is also to show what the midterm tendencies in this services sector in connection with democratic developments towards population ageing are. Relevant data was acquired from Regional information service [RIS) and from the Ministry of Labour and Social Affairs of the CR [MPSV CR).

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Management Trends in Slovakia's Tax Revenue Administration and its Process Model for Slovakia's Economic Performance

Author(s): Ján Dobrovič,Anton Korauš / Language(s): English Publication Year: 0

Within the frame of the research on this matter, we came out form the existing functional organizational structures and tax administration systems not only in Slovakia but also in Hungary, Poland, Czech Republic and Slovenia, where as the fundamental prerequisite of investigation was increasing efficiency of the system globally.

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Competitiveness in Slovak and Czech Public Procurement and its Effect on the Final Price

Author(s): Matúš GREGA,Juraj Nemec / Language(s): English Publication Year: 0

Public expenditures via public procurement accounts for a significant percentage of GDP - around 15 %. Most authors agree that there is an inversely proportional relation between competitiveness and the final price of the public procurement (Kuhlman and Johnson, 1983; Brannman, 1987; Rose-Akerman, 1999; Gupta, 2002; Pavel, 2010; and many others). According to some authors, price decreases caused by increasing competitiveness stop when there are 6-8 participating competitors and they describe this point as fully competitive procurement. When full competitiveness is reached, subsequent additional competitors have only a minimal or no impact on the final procurement price.

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Financial Results of the Company Depending upon Accounting Procedures (Comparison of the Czech Accounting Standards and IAS/IFRS)

Author(s): Irena Honková,Jonáš Výbora / Language(s): English Publication Year: 0

This texts is concerned with financial results of the company depending upon chosen procedures of accounting. Accounting procedures based on the Czech accounting standards (CAS) and accounting procedures based on the International accounting standards/International financial reporting standards (IAS/IFRS) are compared. The comparison of achieved financial results is based on the known synthetic index of the financial analyses - Altman Z-score - of the bankruptcy model.

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Sovereign Bond Spreads as a Predictors of Gross Domestic Product Growth in North America

Author(s): Jana Hvozdenská,Veronika Kajurová / Language(s): English Publication Year: 0

The yield curve - specifically the spread between long term and short term interest rates is a valuable forecasting tool. It is simple to use and significantly outperforms other financial and macroeconomic indicators in predicting recessions two to six quarters ahead. The steepness of the yield curve should be an excellent indicator of a possible future economic activity. A rise in the short rate tends to flatten the yield curve as well as to slow real growth the near term. This paper aims to analyze the dependence between slope of the yield curve and an economic activity of countries of North America (Canada, Mexico, the United States of America) between the years 2000 and 2014. The slope of the yield curve can be measured as the yield spread between sovereign 10-year bonds and sovereign 3-month bonds.

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Cash Levels and its Role in Full Operating Cycle Enterprises: 2005-2013 Czech, Slovak, Hungarian and Polish Enterprises Case

Author(s): Grzegorz Michalski,Emilia Brożyna,Joanna Soroczynska / Language(s): English Publication Year: 0

The main purpose of the paper is a scientific discussion about the influence of risk and uncertainty on cash levels in enterprises in the context of their innovative economic policy realized in their specific economic environment. The aim of the study is to determine the rules governing the modern cash management in V4 enterprises with a full operating cycle with particular emphasis on economic environmental conditions influencing enterprises.

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Financial Literacy: An International Comparison between Germany and the Czech Republic

Author(s): Alexander Zureck,Martin Svoboda / Language(s): English Publication Year: 0

The paper analyzes the financial decision making of students from Germany and from the Czech Republic. The countries have different financial education strategies to improve financial literacy. This has impacts on students' financial decision making. In comparison, German students favor traditional financial products like call money, saving books, life insurance, and funds. Students from Czech Republic invest more than the average in real estates and in capital market products like stocks, corporate bonds, and government bonds.

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System of tourism policy in selected countries

Author(s): Martin Luštický,Pavel Švanda / Language(s): English Publication Year: 0

This paper deals with the tourism policy and its evaluation. Its aim is to explore the key topics related to solving problems and performs a comparative analysis of systems of tourism policy implementation in selected countries. The paper is divided into three interrelated sections: (a) research, (b) application, (c) synthesis. In the research section the paper summarizes and discusses contemporary approaches to defining tourism policy, their objectives and tools. It emphasizes the importance of tourism to the national and regional economy and its conceptual management. Therefore, there is a tourism policy described in the context of strategic management of tourism, under which it can be considered as animportant factor in the competitiveness of tourist destinations. In the application section the contribution focuses on both the national and regional level, which is for practical implementation of tourism policy essential.

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Demographic factors, solid waste generation and solid waste expenditures

Author(s): Michal Struk / Language(s): English Publication Year: 0

Paper presents a quantitative research concerning various municipal demographic factors and their relationships with municipal solid waste generation. Analyzed factors consist of overall population size of the municipality, level of males and females among the population, level of registered unemployment, population age structure, ratios of flats to total houses, population density and municipality size. Created econometric model estimates coefficients and significance of examined factors regarding actual solid waste generation based on the data from selected sample of municipalities from the South Moravian Region in the Czech Republic.

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A NONPARAMETRIC SERIAL CORRELATION TEST OF THE CENTRAL AND EASTERN EUROPEAN STOCK MARKETS

Author(s): Mihály Ormos,Gábor Botár / Language(s): English Publication Year: 0

We test weak form efficiency for the Central and Eastern European stock markets applying runs tests. We investigate the price changes of seven CEE markets (Austria, Hungary, Estonia, the Czech Republic, Poland, Romania, Slovakia) for the period 1991-2011. In order to make the results for these markets directly comparable with results for other developed markets, Germany, United Kingdom and the USA were also incorporated.

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The yield curve as a predictor of economic activity – the case of the Visegrad group

Author(s): Veronika Kajurová,Jana Hvozdenská / Language(s): English Publication Year: 0

In this paper we study the ability of the yield curve to predict GDP activity in four countries of the Visegrad group – Czech Republic, Slovakia, Poland and Hungary. The dataset contains the spread between 10-year and 3-month sovereign bonds and real GDP of the countries mentioned above between the years 2002 and 2012.

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TAX BURDEN IN THE SLOVAK REPUBLIC AND ITS COMPARISON WITH OTHER STATES OF THE EUROPEAN UNION

Author(s): Norbert Gyurian,Angelika Kútna / Language(s): English Publication Year: 0

The paper concerns about the development in total tax burden in the European Union countries and the Slovak republic during the period 1995-2006. The paper compares the tax burden in the Slovak republic with the tax burden of the other members of the European Union as a whole during the period 1995-2006.

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Pandemia COVID-19 a koniunktura gospodarcza w okresie rządów Zjednoczonej Prawicy w Polsce i Fidesz-KDNP na Węgrzech. Analiza porównawcza

Author(s): Marek Sempach / Language(s): Polish Publication Year: 0

Poland and Hungary emerged from the communist period with similar economic and social experiences living for several decades in a dysfunctional system without their own self- -determination. Changes initiated at the end of the eighties of XX century led them to a new existential situation, functioning from scratch in free market economy. In the third decade of changes, some political parties sharing similar views and ideologies took power in these countries. This text is an attempt to assess the economic prosperity of Poland and Hungary during the governments of United Right and Fidesz-KDNP coalition taking into account COVID-19 pandemic time. The goal was verified using four key economic indicators obtained from the IMF’s World Economic Outlook database. Final dataset was analyzed and conclusions were drawn not only considering 2020–2021 COVID-19 pandemic time but for more efficient picture the entire period of selected political coalitions.

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Industrial Cooperation, Knowledge Sources and the Role of Public Sector in Manufacturing Firms: Case of Spain and Portugal

Author(s): Henry Junior Anderson,Solomon GYAMFI,Jan Stejskal / Language(s): English Publication Year: 0

Public Funding for firms has been argued as a catalyst for firms’ cooperative and knowledge generative activities in contemporary knowledge-based economies. As innovation potential is widely poised as regional competitive ability, firms’ cooperation with partners have been revered as a preliminary activity to establishing networks whilst sharing diverse knowledge from partners involved to initiate or even mediate innovation. Using data from Community Innovation Survey (2012-2014) and SEM analysis on Spanish and Portuguese manufacturing firms, the paper assesses the relevance of public funds on cooperation tendencies of firms, knowledge sourcing from partners and eventually, the moderator role played by cooperation in appropriating public funds for knowledge acquisition. It was found that public funding significantly influences cooperation in Spain than in Portugal whilst cooperation was much more influential in sourcing for knowledge from partners in Portugal than in Spain. Results also revealed a slightly higher moderator ability of cooperation in Spain than in Portugal. Country-specific recommendations were further created.

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The Impact of Public Expenditure Efficiency on Labour Productivity in V4 Countries

Author(s): Eva Jílková,Miroslava ZÁVADSKÁ / Language(s): English Publication Year: 0

This paper is focused on the comparison of labour productivity in the four Visegrad countries (the Czech Republic, the Slovak Republic, Hungary and Poland). It briefly deals with the measurement of labour productivity on a macroeconomic scale. The main goal of this paper is to compare the development of labour productivity in the four Visegrad countries as related to public expenditures based on labour market policies and average wages. We use linear and nonparametric correlation analyses to quantify the association between the tested variables. To explore associations between variables we also use graphical displays. The results of our analysis on labour productivity show the dependency of the two indicators, namely the labour productivity and average wages. Moreover, no correlation was found between labour productivity and public expenditure on labour market policies for all V4 countries. The outcome for labour market policies expenditure shows in the highest correlation between the Czech Republic and Hungary, but no significant result for other V4 countries. It could be caused by different government strategies on labour policy and non-economic influence.

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Comparison of the tax burden on natural persons in the Slovak Republic and Spain

Author(s): Katarína Gašová,Katarina Repkova Stofkova / Language(s): English Publication Year: 0

Redistributive function of public finance is provided through the state budget, which is formed as a balance of revenue and expenditure side. Revenues are redistributed and provided to citizens through public services. The primary source of the state budget revenues are taxes, which represent up to 95% of total revenues, based on individual years. Tax policy is a part of the state's fiscal policy and represents a set of measures, which govern the tax system. The Slovak Republic and the Kingdom of Spain are European Union member states which use the same currency. Both countries differentiate in many areas e.g. economics, geography etc. despite some common features. The aim of the contribution is to analyze the current situation in the field of tax burden on personal entity in the Slovak Republic and Spain. Authors conduct comparison and evaluation of the tax burden on personal entity in both countries, based on the example of an employee working in selected countries. Spain, unlike the Slovak Republic, also takes into account the origin of the tax during the tax burden calculation i.e. the area in which is tax levied. It results into different tax rates for different regions of Spain.

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A Comparative Analysis of Shadow Economy in Croatia and Slovakia

Author(s): Sabina Hodžić,Jana Kockovicova / Language(s): English Publication Year: 0

Shadow economy includes all unrecorded economic activities, employment and income. All shadow economy activities are unregulated, untaxed, unregistered and unmeasured by official statistics. Since Croatia and Slovakia are countries in transition, numerous elements exist that support shadow economy in international exchange. Shadow economies in Croatia and Slovakia influence all kinds of economic activities with allocative, stabilizing, welfare and redistributive effects. The objective of this paper is a comparative analysis of shadow economy in Croatia and Slovakia in the period 2005 –2014. The labour approach is used because it relies on the difference between real and registered use of labour. Results show that, in this period, the level of Croatian shadow economy under the labour approach was highest in 2008 (3.65 percent), while in Slovakia it was highest in 2006 (27.47 percent). In order to improve the quality of the fight against corruption and to reduce the level of shadow economy, it is necessary to continue the development of the judiciary, take actions to improve the independence of the judiciary, review the principles of financial support for law enforcement and provide measures to improve their wages.

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Correlation analysis between macroeconomic indicators and level of ratings in EU countries

Author(s): Tomasz Kopyściański,Tomasz Rólczyński,Marzena Franków / Language(s): English Publication Year: 0

Credit rating agencies have a significant impact on the securities market, facilitating investment decisions on the basis of ready-made benchmarks. In this way they contribute to reducing the asymmetries and costs of obtaining information necessary to make decisions regarding buying or selling financial instruments, taking into account the debtor’s estimated risk of default. For many years now credit rating agencies have been an integral part of the financial market, impacting to an even greater degree the functioning conditions of countries, as their dependency on being able to finance their borrowing needs from external sources is continuously growing. Permanent budget deficits and public debt are inherent elements of contemporary public finances. The increased significance of the assessments made by the rating agencies refers closely to the dynamic development of the debt security market and thus emerging demand on the part of the buyers of those securities for an independent analysis, which would determine the issuer’s financial standing. The assessments which are published using special symbols reflect country’s ability to raise capital and its cost. The results of the analysis published in the previous article (Rólczyński, T., Kopyściański, T. (2016). Economic Condition of the European Union Countries and Level of Rating. European Financial Systems 2016, p. 654.), indicate that the ratings provided by the rating agencies are linked to the countries’ economic condition.

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