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Janusz Kudła, Katarzyna Kopczewska, Agata Kocia, Robert Kruszewski and Konrad Walczyk

Abstract

To finance public expenditure a government needs to raise revenue, which mainly comes from taxes and borrowings. During a financial crisis, however, financing of budget deficit is particularly difficult because of a rise in debt servicing costs that crowd out other expenses and raise the concern for government solvency. In extreme cases, governments are constrained to tax, as borrowing opportunities are strictly limited or unavailable. Still, governments can choose from tax menu options (income and consumption taxes), given the flexibility of the tax mix. This article presents a long-term dynamic model of fiscal solvency that shows the equilibrium the revenue maximising government can obtain with reasonable tax rates when capital income can be shifted and there are constraints on the consumption tax. Specifically, the solution predicts a positive level of bonds in the long-term equilibrium and the tax rates dependent positively on the abundance of the tax bases.

Open access

Alexandra Ioana Daniela Rus, Monica Violeta Achim and Sorin Nicolae Borlea

Abstract

The aim of this paper consists in providing a general overview of the notion of intellectual capital as a key to maximizing the corporate performance. Following the researches carried out, we present the delimitations of the intellectual capital in relation with human capital, relational capital and structural capital. In terms of its measurement, we focus on a question which could be a solid base for the next studies: “Can intellectual capital be evaluated?” In this regard, a number of methods (direct and methods based on assets returns), generic model and individual company models were presented, concluding in this way with a hierarchy in terms of utility and their importance.

Open access

Vlastimil Růžička

Abstract

Over the last several decades the traditional role of universities in their unique mission in education and research changed to include also the so-called third mission consisting in their active involvement in the socio-economic development of the society. Publicly available data from annual economic report of Czech public universities were analysed to demonstrate the universities´ ability to raise funding from off-budgetary sources which belongs to main characteristics of entrepreneurial university. Off-budgetary sources, where revenues for internal services prevailed, made in 2016 around 16 % of the total income of Czech public universities. The off-budgetary sources include in particular charges for accommodation and board, fees for entrance exam, tuition fees for students that exceed the standard length of studies by more than one year, and tuition fees for studies in a foreign language. The last fees make up to three quarters of all offbudgetary sources at universities that offer studies at medical faculties. The universities´ ability to execute the third role was due to limited availability of data accessed only partially by analysing revenues from knowledge transfer in supplementary activities that involve contractual research, income from licences, educational courses on demand, consultations and counselling. Contractual research in supplementary activities was the most important among the listed activities making up to 8 % of all off-budgetary sources revenues. In international comparison the Czech public universities raise about one half of revenues for R&D from entrepreneurial sources than EU-28 average and only one third compared to German universities. Revenues from license agreements are low making around 0.1 % of all revenues for R&D.

Open access

Zdeněk Kučera and Tomáš Vondrák

Abstract

Artificial Intelligence (AI) is one of the dynamically evolving research fields on the global scale. The world production of publication associated with the AI field increased by a third over the four-year period 2013–2017. Even less research intensive countries as Iran, Turkey, India and Indonesia appear to increase the share of the AI topics in their publication output. In the Czech Republic the fraction of publications in the AI field increased by approximately 10 % over this period. It makes the lowest increase within the EU/EEA. The field normalized citation index of the Czech publications in the year 2016 was above the world average but it is deeply below the top countries USA, United Kingdom, Switzerland, Singapore, and Norway.

The extent of international cooperation in AI is generally below the world average. The Czech Republic falls into the group of less cooperating countries. The countries exhibiting the highest growth in AI research are underrepresented in the Czech cooperation portfolio. The fraction of Czech publications in AI coauthored by foreign authors is lower than the national average. It indicates a lower international collaboration in comparison with other research fields. CR falls also in the group of countries less engaged in the international cooperation. The Czech international collaboration misses the countries exhibiting the most vigorous R&D in AI. The international collaboration adds to the quality of the research. The Czech publications originating from the international collaboration are cited above the country average for the AI field. It is even more significant in the collaboration with researchers from the top countries in the AI R&D.

The patent activity in the AI field has grown significantly in recent years. There is a marked increase of patent applications having inventors/applicants from more than one country. It indicates that the applied R&D in AI has a more international character in comparison with other technology fields. A high intensity of collaboration in the authorship of patent applications is within language and geographically neighbouring countries and with countries having a highly internationalized R&D system. Multinational corporations involved in international innovation networks contribute also to the international cooperation. ICT corporations like IBM, Google, or Microsoft which often employ foreign researchers have a dominant role in international cooperation.

The R&D of the Czech enterprises is relatively closed to the international cooperation. Domestic enterprises in AI use foreign employees in a small extent. The domestic enterprises even do not tap into the pool of intellectual property authored by the Czech researchers. The majority of patents with participation of Czech inventors is registered by foreign corporations.

Open access

Otakar Fojt and Aleš Vlk

Abstract

The purpose of our contribution is to discuss shortcomings of purely descriptive quantitative evaluation of research policies – based either on inputs (public investment, number of researchers), or outputs (publications, number of patents). To give an example we compare selected indicators across Visegrad countries in the period between 2006 and 2015. We conclude that both quantitative and qualitative perspectives as well as societal and political context should be taken into account when the performance of any R&D system and the impact of public investments into a public R&D sector are scrutinized.

Open access

Cristina-Veronica Partenie

Abstract

In the context of an increasing competition among Romanian universities for attracting students, developing a strong brand that appeals to the stakeholders’ needs and desires, while incorporating the institutions values and principles, is a desired course of action. A well-structured relatable brand enables future students to identify themselves with an institution and helps them in taking an important decision that could determine the outcome of their future. The present study analyses the factors that high school students consider when choosing to attend a certain university, through a quantitative research performed among 275 high school students from 33 high school institutions in Bucharest, Romania. Result helped classify the most important markers of a reputable university, which universities should consider when building branding programs. At the same time, universities’ communication strategies should appeal to values that they share with their targeted audiences in order to increase their attractiveness.

Open access

Mercy T. Musakwa and Nicholas M. Odhiambo

Abstract

This paper gives an overview of foreign direct investment (FDI) in South Africa from 1980 to 2017. It highlights trends in FDI inflows, reforms that have been implemented to date, and challenges that need to be addressed in order to increase the FDI inflows into the country. Government reforms on FDI have been two pronged. Firstly, there are policies that are aimed at creating a strong competitive industry and a strong industrial base for investment. Among such policies are trade liberalisation policies, multilateral and regional integration policies, supportive industrial policies, and bilateral trade agreements. Secondly, there are policies that directly target the FDI investment. These policies include, amongst others, investment incentives, regulatory reforms, exchange control relaxation, and Bilateral Investment Treaties (BITs) reforms. The findings from this study show that FDI inflows have increased significantly from 1990 although they still remain depressed.

Open access

Cordelia Onyinyechi Omodero

Abstract

This study investigates the effect of corruption on foreign direct investment inflows in Nigeria, by using some control variables. The study covers a period from 1996 to 2017 and employs Ordinary Least Squares method to perform the multiple regression analysis with the aid of SPSS version 20. The findings indicate that corruption has a significant positive influence on FDI. Though the influence of inflation is significantly negative but exchange rate and Nigeria’s corruption ranking position have insignificant positive impact on FDI. The implication is that the poor legal framework and institutional qualities in Nigeria are helping corruption to thrive in all areas of Nigeria’s economy and might ruin the young generation if nothing is done urgently. The study finds support for helping hand theory of corruption and FDI and also establishes that inflation has a significant negative influence on FDI inflows in the country. Therefore, the study recommends establishment of strong institutional and legal system to curtail the prevailing situation in order to save the future of the country.

Open access

Vladislav Čadil

Abstract

Behavioural additionality is defined as permanent (long-term) changes in all spheres of behaviour and general capabilities of supported companies as a consequence of public support received. It closely relates to the output additionality because it creates prerequisites for improvement of firms economic performance. This paper aims to show the concrete application of this concept in the evaluation of programmes in the Czech Republic on the example of the TIP programme. It also tries to outline certain aspects that cannot be captured on the one hand when looking only at input and output additionalities, but on the other hand they enable better understanding of these additionality types. The methodology used for assessing behavioural additionality is based on a qualitative approach, a mix of a questionnaire survey and structured interviews. The evaluation confirmed the applicability of the behavioural additionality concept for programmes evaluation in the Czech Republic and showed that both the short-term and long-term effects of the R&D support in the areas of cooperation, R&D activities and firms strategies have already occurred.

Open access

R. Saraswathy, Jijo James, P. Kasinatha Pandian, G. Sriram, J. K. Sundar, G. Swarna Kumar and A. Sathish Kumar

Abstract

The present study involved the utilization of crushed glass as an auxiliary additive in the manufacture of cement stabilized fly ash (CSF) bricks. The bricks were made with 1:1 proportion of fly ash and sand stabilized with 20 % cement. Crushed glass was used as replacement for the fine aggregate in increments of 10 % up to 40 % wherein the sand was completely replaced with crushed glass. The various mix proportions were then moulded into bricks with the addition of water by hand moulding method of forming the bricks and sun dried followed by sprinkle curing over a period of 21 days. The bricks were then subjected to compressive strength, water absorption and efflorescence tests to gauge its performance. The investigation revealed that the addition of crushed glass to the brick mix resulted in an increase in strength of the bricks, however, the maximum strength achieved could not achieve the strength of the control specimen. But the strength was higher than the minimum strength recommended by Bureau of Indian Standards (BIS) for stabilized blocks as well as burnt bricks. It also reduced the water absorption marginally while no efflorescence was seen in any of the combinations. A cost comparison revealed that the optimal combination with crushed glass was able reduce the cost of the brick by 20 %.