Pub Date : 2021-12-01DOI: 10.15240/tul/001/2021-4-002
Izabella Szakálné Kanó, I. Lengyel
In this study, we analyse economic growth and structural change between 2000 and 2016 in the NUTS3 regions of the four countries forming the Visegrad Group (V4) and joining the European Union in 2004, Czechia, Poland, Hungary, and Slovakia. Our examination considers whether convergence can be observed in the case of the regions in the V4 countries over about one and a half decades, i.e., whether less developed regions catch up with more developed ones. Whether the economic growth of the regions took place at a relatively steady pace similar to that of the countries, or if there is a divide between the groups of regions (convergence clubs), which converge to different steady states. If there are convergence clubs, are the economic structure and workforce base of the clubs similar or different. Our study has two steps; first, we divide the 115 NUTS3 regions into convergence clubs with Phillips and Sul’s 2007 logt-test method, presenting the characteristics of their economic growth. We then conducted entropy calculations to test the robustness of the clubs, which provided information on the disparities inside and between the clubs, as well as inside and between the countries. Next, we present the economic structure and urbanrural types of clubs, covering the main characteristics of their labour force base and what factors the transition from one club to another depends on. The main conclusion of our study is that the five convergence clubs are completely separate and their economic structure and labour force base are also different.
在本研究中，我们分析了2004年加入欧盟的维谢格拉德集团(V4)的四个国家(捷克、波兰、匈牙利和斯洛伐克)在2000年至2016年间的经济增长和结构变化。我们的研究考虑的是，在大约15年的时间里，V4国家的地区是否可以观察到趋同，即欠发达地区是否赶上了较发达地区。区域的经济增长是否以与国家类似的相对稳定的速度进行，或者区域集团(趋同俱乐部)之间是否存在分歧，趋同到不同的稳定状态。如果有趋同俱乐部，俱乐部的经济结构和劳动力基础是否相似或不同。我们的研究分为两个步骤;首先，采用Phillips and Sul 2007年的log -检验方法，将115个nut - 3地区划分为收敛俱乐部(convergence clubs)，呈现了其经济增长特征。然后，我们进行了熵计算来测试俱乐部的稳健性，这提供了关于俱乐部内部和俱乐部之间以及国家内部和国家之间差异的信息。其次，我们介绍了俱乐部的经济结构和城乡类型，涵盖了其劳动力基础的主要特征以及从一个俱乐部到另一个俱乐部的转变取决于哪些因素。本研究的主要结论是，五个趋同俱乐部是完全独立的，它们的经济结构和劳动力基础也不同。
{"title":"CONVERGENCE CLUBS OF NUTS3 REGIONS OF THE V4 GROUP","authors":"Izabella Szakálné Kanó, I. Lengyel","doi":"10.15240/tul/001/2021-4-002","DOIUrl":"https://doi.org/10.15240/tul/001/2021-4-002","url":null,"abstract":"In this study, we analyse economic growth and structural change between 2000 and 2016 in the NUTS3 regions of the four countries forming the Visegrad Group (V4) and joining the European Union in 2004, Czechia, Poland, Hungary, and Slovakia. Our examination considers whether convergence can be observed in the case of the regions in the V4 countries over about one and a half decades, i.e., whether less developed regions catch up with more developed ones. Whether the economic growth of the regions took place at a relatively steady pace similar to that of the countries, or if there is a divide between the groups of regions (convergence clubs), which converge to different steady states. If there are convergence clubs, are the economic structure and workforce base of the clubs similar or different. Our study has two steps; first, we divide the 115 NUTS3 regions into convergence clubs with Phillips and Sul’s 2007 logt-test method, presenting the characteristics of their economic growth. We then conducted entropy calculations to test the robustness of the clubs, which provided information on the disparities inside and between the clubs, as well as inside and between the countries. Next, we present the economic structure and urbanrural types of clubs, covering the main characteristics of their labour force base and what factors the transition from one club to another depends on. The main conclusion of our study is that the five convergence clubs are completely separate and their economic structure and labour force base are also different.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79685512","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-01DOI: 10.15240/tul/001/2021-4-007
Gentjan Çera, Khurram Ajaz Khan, Z. Rowland, H. Ribeiro
The aim of this paper is to investigate the determinants of financial advice with a special focus on the cultural role in the influence of risk tolerance on seeking advice for financial issues. Financial literacy is covered by financial attitude, behaviour and knowledge. Financial inclusion is the other factor considered in the conceptual framework, as an indicator which can enhance both financial behaviour and financial advice. The research is based on primary data collected in two European nations, manifesting differences in culture, which gives the possibility to test the uncertainty avoidance role in the above relationship. This particular focus is the novelty of this work, as it sheds light on the importance of culture while designing policies with the aim to enhance individuals’ financial literacy and advice. The hypotheses are tested by using Partial Least Square- Structural Equation Modelling (PLS-SEM) method. It was found that financial behaviour improves as financial inclusion gets better, along with financial attitude and knowledge. Furthermore, financial advice is positively influenced by financial inclusion and risk tolerance and partly by financial literacy. Additionally, findings demonstrate that culture does matter in explaining differences between countries. Culture in this paper is represented by uncertainty avoidance, as one of the Hofstede’s culture dimension. Individuals from countries that manifest a very high preference for avoiding uncertainty reflect a negative relationship between risk tolerance and financial advice. The paper offers useful insights for policymakers and industry leaders in understanding the most influential factors on financial advice. This enables them to scheme policies and services aimed at equipping citizens with knowledge and skills to make the best use of their financial resources.
{"title":"FINANCIAL ADVICE, LITERACY, INCLUSION AND RISK TOLERANCE: THE MODERATING EFFECT OF UNCERTAINTY AVOIDANCE","authors":"Gentjan Çera, Khurram Ajaz Khan, Z. Rowland, H. Ribeiro","doi":"10.15240/tul/001/2021-4-007","DOIUrl":"https://doi.org/10.15240/tul/001/2021-4-007","url":null,"abstract":"The aim of this paper is to investigate the determinants of financial advice with a special focus on the cultural role in the influence of risk tolerance on seeking advice for financial issues. Financial literacy is covered by financial attitude, behaviour and knowledge. Financial inclusion is the other factor considered in the conceptual framework, as an indicator which can enhance both financial behaviour and financial advice. The research is based on primary data collected in two European nations, manifesting differences in culture, which gives the possibility to test the uncertainty avoidance role in the above relationship. This particular focus is the novelty of this work, as it sheds light on the importance of culture while designing policies with the aim to enhance individuals’ financial literacy and advice. The hypotheses are tested by using Partial Least Square- Structural Equation Modelling (PLS-SEM) method. It was found that financial behaviour improves as financial inclusion gets better, along with financial attitude and knowledge. Furthermore, financial advice is positively influenced by financial inclusion and risk tolerance and partly by financial literacy. Additionally, findings demonstrate that culture does matter in explaining differences between countries. Culture in this paper is represented by uncertainty avoidance, as one of the Hofstede’s culture dimension. Individuals from countries that manifest a very high preference for avoiding uncertainty reflect a negative relationship between risk tolerance and financial advice. The paper offers useful insights for policymakers and industry leaders in understanding the most influential factors on financial advice. This enables them to scheme policies and services aimed at equipping citizens with knowledge and skills to make the best use of their financial resources.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84918308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-01DOI: 10.15240/tul/001/2021-4-010
W. Su, Yi Fan
This study explores the relationship between income tax preference and R&D investments of high-tech enterprises. This study selects listed high-tech enterprises in China from 2013 to 2018 as samples. The empirical results show that the effective income tax rate among high-tech enterprises in China differs widely. The findings suggest that high-tech enterprises in China have to take advantage of preferential income tax, pay more attention to R&D investments, and strive to improve R&D ability and market competitiveness. In addition, there is a significantly positive relationship between income tax preference and R&D investments of high-tech enterprises, indicating that the preferential tax rate policy and other tax incentives such as additional tax deduction increase R&D investments of high-tech enterprises effectively. State-owned enterprises (SOEs) are enterprises in which the state has ownership or control over its capital. The positive relation between income tax preference and R&D investments of hightech enterprises is more significant for non-SOEs. Non-SOEs have stronger governance efficiency. Therefore, SOEs should make better use of income tax preference and improve innovation enthusiasm. Moreover, this study finds a more positive relationship between income tax preference and R&D investments among high-tech enterprises in the introduction phase than in the growth and mature phases. However, the relation between income tax preference and R&D investments is insignificant for high-tech enterprises in the decline phase. The findings seem to provide a new perspective for the life cycle characteristics of enterprises and the theoretical guidance to enterprises in phases of growth, mature and decline to develop R&D investments better. Finally, loss enterprises or enterprises in geographical units with the innovative environment are eliminated in this study to avoid extra interference. The results remain robust, indicating that preferential income tax policies applied in high-tech enterprises are significantly and positively associated with R&D investments.
{"title":"INCOME TAX PREFERENCE AND R&D INVESTMENTS OF HIGH-TECH ENTERPRISES IN CHINA","authors":"W. Su, Yi Fan","doi":"10.15240/tul/001/2021-4-010","DOIUrl":"https://doi.org/10.15240/tul/001/2021-4-010","url":null,"abstract":"This study explores the relationship between income tax preference and R&D investments of high-tech enterprises. This study selects listed high-tech enterprises in China from 2013 to 2018 as samples. The empirical results show that the effective income tax rate among high-tech enterprises in China differs widely. The findings suggest that high-tech enterprises in China have to take advantage of preferential income tax, pay more attention to R&D investments, and strive to improve R&D ability and market competitiveness. In addition, there is a significantly positive relationship between income tax preference and R&D investments of high-tech enterprises, indicating that the preferential tax rate policy and other tax incentives such as additional tax deduction increase R&D investments of high-tech enterprises effectively. State-owned enterprises (SOEs) are enterprises in which the state has ownership or control over its capital. The positive relation between income tax preference and R&D investments of hightech enterprises is more significant for non-SOEs. Non-SOEs have stronger governance efficiency. Therefore, SOEs should make better use of income tax preference and improve innovation enthusiasm. Moreover, this study finds a more positive relationship between income tax preference and R&D investments among high-tech enterprises in the introduction phase than in the growth and mature phases. However, the relation between income tax preference and R&D investments is insignificant for high-tech enterprises in the decline phase. The findings seem to provide a new perspective for the life cycle characteristics of enterprises and the theoretical guidance to enterprises in phases of growth, mature and decline to develop R&D investments better. Finally, loss enterprises or enterprises in geographical units with the innovative environment are eliminated in this study to avoid extra interference. The results remain robust, indicating that preferential income tax policies applied in high-tech enterprises are significantly and positively associated with R&D investments.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82404455","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-01DOI: 10.15240/tul/001/2021-4-004
M. Khalilzadeh, Omid Kebriyaii, Jonas Šaparauskas, N. Lepkova
The goals and objectives of a project as well as the needs, requirements and expectations of the project stakeholders may contradict or non-fulfillment of them may have different detrimental and negative consequences for the project. Therefore, project stakeholders should be effectively managed, but it is not possible to satisfy all project stakeholders and meet all of their expectations and requirements. As a result, project team must strike a balance between the project goals and objectives and the needs, requirements and expectations of the project stakeholders in order to complete the project successfully. Despite highlighting the significant importance of project stakeholder management, there exists a notable gap in exerting an effective decision support system to adopt stakeholder engagement strategies particularly in oil and gas construction projects. This study proposes a comprehensive framework for the identification, prioritization and selection of the stakeholder engagement strategies in one of the large size oil and gas construction projects in Iran. In this paper, a hybrid method which is the combination of the SWOT (strengths, weakness, opportunities and threat) analysis and fuzzy Delphi method is first exploited for identifying the appropriate stakeholder engagement strategies. Subsequently, fuzzy SWARA (Step-wise Weight Assessment Ratio Analysis) is employed to weight the crucial criteria, and finally, fuzzy WASPAS (Weighted Aggregated Sum Product Assessment) is utilized to prioritize the identified stakeholder engagement strategies. This research contributes to the body of knowledge on project stakeholder management by presenting a novel framework for identifying, ranking and selecting the suitable strategies for effective stakeholder engagement considering one of the largest oil and gas construction projects in the country. The value of this study is in applicability of the proposed methodology for project managers and practitioners in other oil and gas construction projects.
项目的目标和目的以及项目干系人的需要、要求和期望可能相互矛盾，或者它们的不实现可能对项目产生不同的有害和消极的后果。因此，要对项目干系人进行有效的管理，但不可能满足所有的项目干系人，满足他们所有的期望和需求。因此，为了成功地完成项目，项目团队必须在项目目标和项目干系人的需要、要求和期望之间取得平衡。尽管强调了项目利益相关者管理的重要性，但在发挥有效的决策支持系统以采用利益相关者参与策略方面存在显著差距，特别是在油气建设项目中。本研究提出了一个全面的框架，用于在伊朗的一个大型油气建设项目中识别、优先考虑和选择利益相关者参与策略。本文首先利用SWOT(优势、劣势、机会和威胁)分析与模糊德尔菲法相结合的混合方法，确定合适的利益相关者参与策略。随后，采用模糊逐步加权评价比率分析法(Step-wise Weight Assessment Ratio Analysis, SWARA)对关键标准进行加权，最后，采用模糊加权总和产品评价法(Weighted Aggregated Sum Product Assessment, WASPAS)对确定的利益相关者参与策略进行优先级排序。考虑到该国最大的石油和天然气建设项目之一，本研究提出了一个新的框架，用于识别、排序和选择有效的利益相关者参与策略，从而为项目利益相关者管理的知识体系做出了贡献。本研究的价值在于所提出的方法对其他油气建设项目的项目经理和从业人员的适用性。
{"title":"TOWARDS AN EFFICIENT APPROACH FOR IDENTIFICATION AND SELECTION OF STAKEHOLDER ENGAGEMENT STRATEGIES: A CASE STUDY","authors":"M. Khalilzadeh, Omid Kebriyaii, Jonas Šaparauskas, N. Lepkova","doi":"10.15240/tul/001/2021-4-004","DOIUrl":"https://doi.org/10.15240/tul/001/2021-4-004","url":null,"abstract":"The goals and objectives of a project as well as the needs, requirements and expectations of the project stakeholders may contradict or non-fulfillment of them may have different detrimental and negative consequences for the project. Therefore, project stakeholders should be effectively managed, but it is not possible to satisfy all project stakeholders and meet all of their expectations and requirements. As a result, project team must strike a balance between the project goals and objectives and the needs, requirements and expectations of the project stakeholders in order to complete the project successfully. Despite highlighting the significant importance of project stakeholder management, there exists a notable gap in exerting an effective decision support system to adopt stakeholder engagement strategies particularly in oil and gas construction projects. This study proposes a comprehensive framework for the identification, prioritization and selection of the stakeholder engagement strategies in one of the large size oil and gas construction projects in Iran. In this paper, a hybrid method which is the combination of the SWOT (strengths, weakness, opportunities and threat) analysis and fuzzy Delphi method is first exploited for identifying the appropriate stakeholder engagement strategies. Subsequently, fuzzy SWARA (Step-wise Weight Assessment Ratio Analysis) is employed to weight the crucial criteria, and finally, fuzzy WASPAS (Weighted Aggregated Sum Product Assessment) is utilized to prioritize the identified stakeholder engagement strategies. This research contributes to the body of knowledge on project stakeholder management by presenting a novel framework for identifying, ranking and selecting the suitable strategies for effective stakeholder engagement considering one of the largest oil and gas construction projects in the country. The value of this study is in applicability of the proposed methodology for project managers and practitioners in other oil and gas construction projects.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80820105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-01DOI: 10.15240/tul/001/2021-03-002
Zulqarnain Mushtaq, Wei Wei, Maimoona Sharif, A. Chandio
Tobacco is considered as one of the most important industrial cash crop and source of livelihood to many families in Pakistan. Considering the contraction of land under tobacco cultivation, the present study is intended to evaluate the production efficiency of tobacco growers in southern Punjab, Pakistan. The Data Envelopment Analysis model was used to investigate energy usage efficiency of tobacco farmers based on seven energy inputs; human labour, farm machinery, irrigation, diesel, fertilizers, chemicals, seeds, and a single output. Moreover, the current study also used DEA – super efficiency to identify and rank efficient and inefficient tobacco producers; and to suggest optimum energy requirements and energy savings potentials. The primary data from 210 tobacco growers were collected in-person interviews by random sampling technique. The findings of the study revealed that average energy consumed in the form of inputs and yield obtained in tobacco production was 52,703.58 MJ/ha-1 and 3,096.98 MJ/ha-1, respectively. Average technical, pure technical, and scale efficiency score was calculated to be 0.902, 0.961, and 0.938, respectively. Likewise, the energy-saving ratio in tobacco production was estimated to be 13.83%, which implies that by adopting the proposed recommendations about 7,121.66 MJ/ha-1 energy could be saved without compromising the output. Also, fertilizers, chemicals, irrigation, and diesel had the highest share in the consumption of energy inputs. The findings of the study provides pinpoint options to the agricultural polices makers to launch the technical training programs for the tobacco farmers to adopt better management practices to optimize the application of energy inputs to reduce the cost of tobacco production. The agricultural extension department should also visit the tobacco fields to assist the farmers about timely application of inputs and with extension services.
{"title":"EVALUATING ENERGY CONSUMPTION EFFICIENCY IN TOBACCO PRODUCTION: APPLYING DATA ENVELOPMENT ANALYSIS","authors":"Zulqarnain Mushtaq, Wei Wei, Maimoona Sharif, A. Chandio","doi":"10.15240/tul/001/2021-03-002","DOIUrl":"https://doi.org/10.15240/tul/001/2021-03-002","url":null,"abstract":"Tobacco is considered as one of the most important industrial cash crop and source of livelihood to many families in Pakistan. Considering the contraction of land under tobacco cultivation, the present study is intended to evaluate the production efficiency of tobacco growers in southern Punjab, Pakistan. The Data Envelopment Analysis model was used to investigate energy usage efficiency of tobacco farmers based on seven energy inputs; human labour, farm machinery, irrigation, diesel, fertilizers, chemicals, seeds, and a single output. Moreover, the current study also used DEA – super efficiency to identify and rank efficient and inefficient tobacco producers; and to suggest optimum energy requirements and energy savings potentials. The primary data from 210 tobacco growers were collected in-person interviews by random sampling technique. The findings of the study revealed that average energy consumed in the form of inputs and yield obtained in tobacco production was 52,703.58 MJ/ha-1 and 3,096.98 MJ/ha-1, respectively. Average technical, pure technical, and scale efficiency score was calculated to be 0.902, 0.961, and 0.938, respectively. Likewise, the energy-saving ratio in tobacco production was estimated to be 13.83%, which implies that by adopting the proposed recommendations about 7,121.66 MJ/ha-1 energy could be saved without compromising the output. Also, fertilizers, chemicals, irrigation, and diesel had the highest share in the consumption of energy inputs. The findings of the study provides pinpoint options to the agricultural polices makers to launch the technical training programs for the tobacco farmers to adopt better management practices to optimize the application of energy inputs to reduce the cost of tobacco production. The agricultural extension department should also visit the tobacco fields to assist the farmers about timely application of inputs and with extension services.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78923433","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-01DOI: 10.15240/tul/001/2021-3-012
S. Sobotovičová, B. Blechová
The digital transformation of all areas of government is one of the European Union priorities. The motivation for our research was the fact that when it comes to the evaluation of Digital Public Services, the Czech Republic ranks below the EU countries average. This article discusses the development of electronic filings for the Financial Administration in the Czech Republic. It started with a critical literature review of relevant sources. Subsequently, a research was conducted with 644 respondents in the form of a questionnaire survey. Based on the primary research, opinions on the digitization of financial administration, including the benefits and disadvantages it brings to them, was verified with entrepreneurs. The survey data was evaluated using a non-parametric test in SPSS Statistics. Following an empirical survey, it was found that the majority of respondents perceive electronic filings in a positive way. The most common form of electronic filing is through data boxes, which have been in use in the Czech Republic since 2009. Less than half of the respondents had some problems related to the introduction of electronic filings. Some of the most common issues mentioned included the familiarization with the requirements associated with the electronic filings and learning to use the program in general. With the majority of respondents, accountants are responsible for interaction with the Financial Administration. Based on the respondents’ perception, the saving of time was identified as the most significant benefit, followed by the availability of information and error checks; saving of costs was the last. The respondents evaluate electronic communication as more flexible, practical and easier.
{"title":"PERCEPTION OF BUSINESS ENTITIES TOWARDS DIGITIZATION OF TAX ADMINISTRATION IN THE CZECH REPUBLIC","authors":"S. Sobotovičová, B. Blechová","doi":"10.15240/tul/001/2021-3-012","DOIUrl":"https://doi.org/10.15240/tul/001/2021-3-012","url":null,"abstract":"The digital transformation of all areas of government is one of the European Union priorities. The motivation for our research was the fact that when it comes to the evaluation of Digital Public Services, the Czech Republic ranks below the EU countries average. This article discusses the development of electronic filings for the Financial Administration in the Czech Republic. It started with a critical literature review of relevant sources. Subsequently, a research was conducted with 644 respondents in the form of a questionnaire survey. Based on the primary research, opinions on the digitization of financial administration, including the benefits and disadvantages it brings to them, was verified with entrepreneurs. The survey data was evaluated using a non-parametric test in SPSS Statistics. Following an empirical survey, it was found that the majority of respondents perceive electronic filings in a positive way. The most common form of electronic filing is through data boxes, which have been in use in the Czech Republic since 2009. Less than half of the respondents had some problems related to the introduction of electronic filings. Some of the most common issues mentioned included the familiarization with the requirements associated with the electronic filings and learning to use the program in general. With the majority of respondents, accountants are responsible for interaction with the Financial Administration. Based on the respondents’ perception, the saving of time was identified as the most significant benefit, followed by the availability of information and error checks; saving of costs was the last. The respondents evaluate electronic communication as more flexible, practical and easier.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86518832","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-01DOI: 10.15240/tul/001/2021-3-009
Małgorzata Solarz, Magdalena Swacha-Lech
FinTech Adoption Index, expressed as a percentage of the digitally active population, for 27 countries of the world in 2019 reached the level of 64%. Millennials are the generation which, compared to others, is characterized by the highest level of FinTech adoptions. In Poland, in 2019, about 75% of the Millennials used the services of FinTech. This paper aims to analyse and evaluate the selected determinants of using the innovative FinTech services by Millennials in Poland. To investigate how users adopt FinTech services, we have applied our own set of determinants – selected from an extensive literature review – covering both demographic, economic and behavioural characteristics. This approach allowed for an in-depth analysis of the examined issue. The essential empirical data were obtained based on the research using the CAWI method in December 2019 on a representative sample of Poles aged 25–40 at that time. Ultimately, 1,236 correctly completed questionnaires were used for the research. To analyse and evaluate the impact of selected determinants of FinTech adoption, a logistic regression model was used. The results obtained can thus be extremely important for managers of financial institutions. They provide information that can be used for activities aimed at maintaining FinTech’s customer base and allow to adjust the offer to the expectations of this group. Millennials most open to innovative FinTech services in Poland are young men with high and very high net income and not driven by low costs of financial services. They appreciate technological novelties, including the possibility of using a smartwatch, and when deciding on the choice of a financial institution, they do not care about the direct opinions of their relatives and friends, but take into account the opinions in social media.
{"title":"DETERMINANTS OF THE ADOPTION OF INNOVATIVE FINTECH SERVICES BY MILLENNIALS","authors":"Małgorzata Solarz, Magdalena Swacha-Lech","doi":"10.15240/tul/001/2021-3-009","DOIUrl":"https://doi.org/10.15240/tul/001/2021-3-009","url":null,"abstract":"FinTech Adoption Index, expressed as a percentage of the digitally active population, for 27 countries of the world in 2019 reached the level of 64%. Millennials are the generation which, compared to others, is characterized by the highest level of FinTech adoptions. In Poland, in 2019, about 75% of the Millennials used the services of FinTech. This paper aims to analyse and evaluate the selected determinants of using the innovative FinTech services by Millennials in Poland. To investigate how users adopt FinTech services, we have applied our own set of determinants – selected from an extensive literature review – covering both demographic, economic and behavioural characteristics. This approach allowed for an in-depth analysis of the examined issue. The essential empirical data were obtained based on the research using the CAWI method in December 2019 on a representative sample of Poles aged 25–40 at that time. Ultimately, 1,236 correctly completed questionnaires were used for the research. To analyse and evaluate the impact of selected determinants of FinTech adoption, a logistic regression model was used. The results obtained can thus be extremely important for managers of financial institutions. They provide information that can be used for activities aimed at maintaining FinTech’s customer base and allow to adjust the offer to the expectations of this group. Millennials most open to innovative FinTech services in Poland are young men with high and very high net income and not driven by low costs of financial services. They appreciate technological novelties, including the possibility of using a smartwatch, and when deciding on the choice of a financial institution, they do not care about the direct opinions of their relatives and friends, but take into account the opinions in social media.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85501560","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-01DOI: 10.15240/tul/001/2021-3-008
Michal Mešťan, I. Králik, Leoš Šafár, J. Šebo
Searching for the optimal saving strategy is often tied with the life-cycle strategies where only the age of a saver is considered for setting the allocation profile between equities and bonds. Our article contributes to the debate by looking at the performance and adequacy risks arising from applying age-based saving strategies for savers in funded pension schemes. As many studies have proven the shift of the risk onto savers in defined contribution pension schemes under various saving strategies, we contribute to the debate by providing simulations of expected accumulated savings via funded pension scheme under the various life-cycle income profiles and existence of unemployment risk. Using the resampling simulation technique, we compare the fixed and age-based strategies of three different agents with various life-cycle income paths and different unemployment risk. We compare the expected amount of savings and calculate relative indicators comparing the expected monthly benefits, income replacement rate. We look closely on the impact of unemployment on the value of savings and calculate the unemployment factor explaining the value of savings lost due to the periods of unemployment. By combining life-cycle income functions of individuals with different education level and unemployment risk, we show that decisions of implementing low risk saving strategies are suboptimal and lead to a substantial decrease in replacement ratios not only for higher income cohorts but especially for the lowest ones. At the same time, we prove that employing low risk saving strategy leads to the increase of adequacy risk especially driven by the unemployment risk that is higher for lower education individuals. We conclude that age-based life-cycle saving strategies, where the remaining saving horizon is the only factor defining the allocation profile is not the optimal saving strategy and other factors should be considered as well when searching for optimal saving strategy.
{"title":"IMPACT OF DIFFERENT LIFE-CYCLE SAVING STRATEGIES AND UNEMPLOYMENT ON INDIVIDUAL SAVINGS IN DEFINED CONTRIBUTION PENSION SCHEME IN SLOVAKIA","authors":"Michal Mešťan, I. Králik, Leoš Šafár, J. Šebo","doi":"10.15240/tul/001/2021-3-008","DOIUrl":"https://doi.org/10.15240/tul/001/2021-3-008","url":null,"abstract":"Searching for the optimal saving strategy is often tied with the life-cycle strategies where only the age of a saver is considered for setting the allocation profile between equities and bonds. Our article contributes to the debate by looking at the performance and adequacy risks arising from applying age-based saving strategies for savers in funded pension schemes. As many studies have proven the shift of the risk onto savers in defined contribution pension schemes under various saving strategies, we contribute to the debate by providing simulations of expected accumulated savings via funded pension scheme under the various life-cycle income profiles and existence of unemployment risk. Using the resampling simulation technique, we compare the fixed and age-based strategies of three different agents with various life-cycle income paths and different unemployment risk. We compare the expected amount of savings and calculate relative indicators comparing the expected monthly benefits, income replacement rate. We look closely on the impact of unemployment on the value of savings and calculate the unemployment factor explaining the value of savings lost due to the periods of unemployment. By combining life-cycle income functions of individuals with different education level and unemployment risk, we show that decisions of implementing low risk saving strategies are suboptimal and lead to a substantial decrease in replacement ratios not only for higher income cohorts but especially for the lowest ones. At the same time, we prove that employing low risk saving strategy leads to the increase of adequacy risk especially driven by the unemployment risk that is higher for lower education individuals. We conclude that age-based life-cycle saving strategies, where the remaining saving horizon is the only factor defining the allocation profile is not the optimal saving strategy and other factors should be considered as well when searching for optimal saving strategy.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80531369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-01DOI: 10.15240/tul/001/2021-03-001
M. Hitka, J. Ďurian, S. Lorincová, Bianka Dúbravská
Motivation is considered one of the most important prerequisites for the success and effectiveness of the resulting performances. Usually, we meet only with a perspective of employee motivation from inside the company. However, the external environment, i.e. macro-environment, also influences the motivation of employees. We decided to focus on exploring how macroeconomic indicators evolution affects employee motivation. By means of the research conducted in Slovakia during the period from 2008 to 2019 on a sample of more than 30,000 respondents, we define the dependence of selected macroeconomic indicators and employee motivation. The research focuses on the analysis of average annual wage and household debt influence on the most important employees’ motivational factors. Based on our findings, we can state that macroeconomic indicators affect the importance of motivational factors in Slovakia. Especially, the average annual wage strongly influences the six motivational factors (communication at the workplace, duties and type of work, working hours, working environment, superior approach, psychological burden). The results of the research also show that the seven motivational factors (atmosphere at the workplace, good team, communication at the workplace, working hours, working environment, superior approach, psychological burden) strongly depend on the macroeconomic indicator of household debt. Therefore, when creating incentive programs, business managers in Slovakia should take into account not only the effects of the company’s microenvironment on motivation but also the effects of the macro-environment and thus macroeconomic changes in the state. The role of a manager is to keep balance between external environment influence on employee motivation and internal actions. The paper presents inspiring ideas in a field of employee motivation and the influence of external environment on motivation.
{"title":"INFLUENCE OF SELECTED MACROECONOMIC INDICATORS ON EMPLOYEE MOTIVATION","authors":"M. Hitka, J. Ďurian, S. Lorincová, Bianka Dúbravská","doi":"10.15240/tul/001/2021-03-001","DOIUrl":"https://doi.org/10.15240/tul/001/2021-03-001","url":null,"abstract":"Motivation is considered one of the most important prerequisites for the success and effectiveness of the resulting performances. Usually, we meet only with a perspective of employee motivation from inside the company. However, the external environment, i.e. macro-environment, also influences the motivation of employees. We decided to focus on exploring how macroeconomic indicators evolution affects employee motivation. By means of the research conducted in Slovakia during the period from 2008 to 2019 on a sample of more than 30,000 respondents, we define the dependence of selected macroeconomic indicators and employee motivation. The research focuses on the analysis of average annual wage and household debt influence on the most important employees’ motivational factors. Based on our findings, we can state that macroeconomic indicators affect the importance of motivational factors in Slovakia. Especially, the average annual wage strongly influences the six motivational factors (communication at the workplace, duties and type of work, working hours, working environment, superior approach, psychological burden). The results of the research also show that the seven motivational factors (atmosphere at the workplace, good team, communication at the workplace, working hours, working environment, superior approach, psychological burden) strongly depend on the macroeconomic indicator of household debt. Therefore, when creating incentive programs, business managers in Slovakia should take into account not only the effects of the company’s microenvironment on motivation but also the effects of the macro-environment and thus macroeconomic changes in the state. The role of a manager is to keep balance between external environment influence on employee motivation and internal actions. The paper presents inspiring ideas in a field of employee motivation and the influence of external environment on motivation.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83465187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-01DOI: 10.15240/tul/001/2021-03-006
Dana Egerová, L. Komárková, Jiří Kutlák
Generational differences in work values and workplace expectations have become a widely discussed research and intervention topic in recent years. However, little is known about Generation Z, who are now entering the labour market, and this presents challenges to both researchers and companies. Therefore, the primary purpose of the present study is to extend generation research by examining generational cohort differences in workplace expectations, specifically between Generation Z and the previous closest generation, Generation Y. The study is also intended to add to the limited empirical evidence of the workplace expectations of the most recent Generation Z. The theoretical framework guiding this study includes generational cohort theory and anticipatory psychological contract dimensions: job content, career development, social atmosphere, the fairness of organisational policies and rewards. The study was based on an online questionnaire survey. Data was collected from a sample of 1,000 respondents for the Czech Republic and 600 for the Slovak Republic including Generations Y and Z in the ratio 1:1. The generational differences in the workplace expectations, controlling the effects of gender and country, were investigated using multiple linear regression. The overall findings of the study indicate that both generations are more similar than different regarding their future employment expectations. We also find that those preferences may be more heterogeneous within a homogeneous group than across generational cohorts. The findings specifically indicate that some characteristics, such as geographical environment, professional experience and gender may shape employment expectations more than generational difference. The study suggests that companies also need to appreciate heterogeneity within a homogeneous generational group instead of treating current or prospective potential employees simply as members of one generation. The directions of future research, as well as the limitations of the study, are discussed.
{"title":"GENERATION Y AND GENERATION Z EMPLOYMENT EXPECTATIONS: A GENERATIONAL COHORT COMPARATIVE STUDY FROM TWO COUNTRIES","authors":"Dana Egerová, L. Komárková, Jiří Kutlák","doi":"10.15240/tul/001/2021-03-006","DOIUrl":"https://doi.org/10.15240/tul/001/2021-03-006","url":null,"abstract":"Generational differences in work values and workplace expectations have become a widely discussed research and intervention topic in recent years. However, little is known about Generation Z, who are now entering the labour market, and this presents challenges to both researchers and companies. Therefore, the primary purpose of the present study is to extend generation research by examining generational cohort differences in workplace expectations, specifically between Generation Z and the previous closest generation, Generation Y. The study is also intended to add to the limited empirical evidence of the workplace expectations of the most recent Generation Z. The theoretical framework guiding this study includes generational cohort theory and anticipatory psychological contract dimensions: job content, career development, social atmosphere, the fairness of organisational policies and rewards. The study was based on an online questionnaire survey. Data was collected from a sample of 1,000 respondents for the Czech Republic and 600 for the Slovak Republic including Generations Y and Z in the ratio 1:1. The generational differences in the workplace expectations, controlling the effects of gender and country, were investigated using multiple linear regression. The overall findings of the study indicate that both generations are more similar than different regarding their future employment expectations. We also find that those preferences may be more heterogeneous within a homogeneous group than across generational cohorts. The findings specifically indicate that some characteristics, such as geographical environment, professional experience and gender may shape employment expectations more than generational difference. The study suggests that companies also need to appreciate heterogeneity within a homogeneous generational group instead of treating current or prospective potential employees simply as members of one generation. The directions of future research, as well as the limitations of the study, are discussed.","PeriodicalId":46351,"journal":{"name":"E & M Ekonomie a Management","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89390652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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