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The Lawful Execution of Employer Rights is an Important Subsystem of Corporate Governance (A Labour Case Study)

Abstract

In the world of work, the political transition created a difficult situation in Hungary which has become even less favourable in the 2010s. Employees are exposed to numerous infringements. The case study presented at previous MEB conferences and continued herein illustrates the vulnerability of employees. The case study provides an excellent opportunity for the presentation of the special Hungarian labour law (the conclusion of an employment relationship, payment of wages, performance of work, trial period, termination, corporate dismissal, etc.) and for summarising the lessons learned. In addition to the court judgement involving heavy expenditure, it can also be concluded that successful corporate work can only be achieved by respected and skilled employees, and the loyalty of employees is the key source of results. This, in turn, can only be achieved if the representatives of the owners and the management of the company pay great attention, as a subsystem, to the lawful employment and motivation of employees.

Open access
Legal Rules on the Protection of Animals in Hungary

Abstract

For centuries, man, as an important part of nature, has caused irreparable damage to its equilibrium. After the Second World War, it became clear that this process had led to the extinction of several species of animals. In spite of the importance of biodiversity, it only became an international, political concept after the Earth Summit in 1992. This was held in Rio de Janeiro, where the Agreement on Biodiversity was signed by many countries. Since then, biodiversity as a term has been widely used by politicians, the media, social organisations and others.

The European Union intends to validate strict requirements and provisions concerning animal protection. Most of these provisions have been legally validated in Hungary, but the country still lags behind in some respects. Further problems accrue as legal regulations concerning protected animals have been very hard to enforce in practice.

Overall, we can conclude that, in order to successfully protect animals, society should improve its way of looking at animals as a living part of nature. Without such an attitude, even the most perfect statutes cannot effectively ensure the protection of animals.

Open access
Social Investment as a New Paradigm of Social Policy

Abstract

The objective of this paper is to evaluate the importance and potential benefits of social investment, particularly during times of economic imbalance. Social investment represents a new paradigm of social policy and a new approach to the economic challenges we are currently facing. The investigation concludes that this concept is based mainly on modernizing Europe’s social protection systems to ensure their sustainability, while enabling them to respond to new social needs. In times of crisis, the concept of social investment allows it to be seen in a new context as a new opportunity, because the crisis puts pressure on European countries to change their social models. In terms of long-term social policy, there must be a collective investment strategy that shapes the ability of individuals and families so that they can cope with new social risks and new economic conditions. A social investment pact should promote a positive path for the development of public policies in a situation where European states are facing budget deficits and a debt crisis. The modernizing of social policy requires that decisions on funding are led by results ex ante and systematically address the role of social policies in the various stages of an individual’s life.

Open access
Determinants of the Spatial Distribution of Foreign Employees on Different Skill Job Positions: The Case of the Czech Republic

Abstract

The aim of the paper is to discuss the spatial distribution of foreign employees in highlyskilled, skilled and unskilled job positions by using correlation and regression analyses. On the one hand, our results indicate that foreign employees, no matter what job position they work in, usually concentrate in districts where regional centers or eventually large industrial factories are located. The outcomes also indicate that these foreign employees are usually employed in areas where foreigners were also employed in previous years. On the other hand, there seem to be determinants of the spatial distribution of foreigners that differ by job positions. The spatial distribution of foreign employees in highly-skilled job positions seems to be primarily influenced by characteristics of the economic area, whereas the spatial pattern of foreign employees in skilled and unskilled job positions seem to be more determined by the characteristics of the labour market area.

Open access
Does Higher Tax Morale Imply Higher Optimal Labor Income Tax Rate?

Abstract

We analyze the impact of tax morale on optimal progressive labor income taxation. Only universal basic income is financed from a linear tax and the financing of public goods is neglected. Each individual supplies labor and (un)declares earning, depending on his labor disutility and tax morale. Limiting the utilitarianism to the poorer parts of the population (defined by the inclusion share), the optimal tax rate is an increasing function of the tax morale and a decreasing function of the inclusion share, provided that the average wage of those included is higher than 0.54 times the average wage.

Open access
Should Non-Euro Area Countries Join the Single Supervisory Mechanism?

Abstract

Irrespective of the euro crisis, a European banking union makes sense, including for non-euro area countries, because of the extent of European Union financial integration. The Single Supervisory Mechanism (SSM) is the first element of the banking union. From the point of view of non-euro countries, the draft SSM regulation as amended by the EU Council includes strong safeguards relating to decision-making, accountability, attention to financial stability in small countries and the applicability of national macroprudential measures. Non-euro countries will also have the right to leave the SSM and thereby exempt themselves from a supervisory decision. The SSM by itself cannot bring the full benefits of the banking union, but would foster financial integration, improve the supervision of cross-border banks, ensure greater consistency of supervisory practices, increase the quality of supervision, avoid competitive distortions and provide ample supervisory information. While the decision to join the SSM is made difficult by uncertainty surrounding other elements of the banking union, including possible burden sharing, we conclude that non-euro EU members should stand ready to join the SSM and be prepared for negotiations on the other elements of the banking union.

Open access
World Tax Index: New Methodology for OECD Countries, 2000–2012

Abstract

This paper follows our previous article, Kotlán and Machová (2012a), which presented an indicator of the tax burden that can be used as an alternative to the tax quota, or for implicit tax rates in macroeconomic analyses. This alternative is an overall multi-criteria index called the WTI - the World Tax Index. The aim of this paper is to present the new World Tax Index 2013 and its methodology, which allowed us to compute it for all 34 OECD countries for the 2000-2012 period, with special references to methodology changes from the previous version. We show that, using the WTI, the highest tax burden is measured for Denmark, Belgium and Turkey, while the lowest tax burden is in Switzerland, Ireland, Chile or Japan. The total ranking of the countries is from 66% correlated with the ranking according to the tax quota, mainly due to a strong correlation in the case of property taxes, personal income taxes and VAT-type taxes. In these cases, the tax quota seems to be a good approximator of the tax burden. However, there is no correlation between corresponding tax quotas and WTI sub-indices for corporate taxes or selective consumption taxes. In those cases, the tax quota apparently fails and is not suitable for use in further analyses.

Open access
Does Globalization Affect Regional Growth? Evidence for Nuts-2 Regions in EU-27

Abstract

We analyze the influence of newly constructed globalization measures on regional growth for the EU-27 countries between 2001 and 2006. The spatial Chow-Lin procedure, a method constructed by the authors, was used to construct, on a NUTS-2 level, complete regional data for exports, imports and FDI inward stocks, which serve as indicators for the influence of globalization, integration and technology transfers on European regions. The results suggest that most regions have significantly benefited from globalization measured by increasing trade openness and FDI. In a non-linear growth convergence model, the growth elasticities for globalization and technology transfers decrease with increasing GDP per capita. Furthermore, the estimated elasticity for FDI decreases when the model includes a higher human capital premium for CEE countries and a small significant growth enhancing effect accrues from the structural funds expenditures in the EU.

Open access
Effective Tax Rates in the Moravian-Silesian Region

Abstract

The aim of this work is to evaluate the effective corporate tax rate in the Moravian-Silesian Region in the Czech Republic on the basis of a backward-looking micro view. The results obtained are then compared with other methods of measuring the tax burden, especially with the corporate tax quota and effective corporate tax rate based on a backward-looking macro view and its components. The tax burden will be evaluated for the period 2007-2010 in order to capture the effects of the economic crisis. It is clear that the effective tax rate computed according to the backward-looking micro view and corporate tax quota confirms the results of a number of empirical studies because, in comparison to an effective marginal tax rate based on the macro view, they reflect fluctuations in business cycles.

Open access