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Ethical Leadership: Meaning and Measurement. Latvian Retail Traders’ Perspective

Abstract

In the contemporary situation of ever-growing market internationalisation, local and global competition different company leadership aspects, especially ethical leadership, gain a special importance. It is possible to say that in theoretical literature, there is more or less consensual agreement upon the meaning of ethical leadership still regarding the evaluation models there are many models. Therefore, the main challenge is to determine the case sensitive model(s) for the industry or the type of business organisation. The goal of the article is to delineate theoretically and to test empirically amongst Latvian retail traders one of the models of evaluation (the one of the Executive Servant Leadership Scale, ESLS). The research questions are (1) What is the ranking of the ESLS first-order factors? and (2) What are the possible problem areas in the ethical leadership as seen by the Latvian retail traders? The authors of the present paper aspire to identify the problem areas out the future lines of investigation. The current research uses the following research methods: the monographic (the literature study related to the concept of ethical leadership and its evaluations models); expert interviews to narrow down the items to be tested; and the survey with the following factor analysis.

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Fuel Prices as a Factor of Shaping Profitability of Road Transport in Poland

Abstract

The goal of this article is to determine the relation between the price of fuel and the profitability of the company. For this purpose, the article defines the profitability of transport enterprises and points the source of the impact of changes in fuel prices on the profitability of companies in the road transport sector. The case of the ABC transport company shows the relationship between the costs incurred for the purchase of fuel and the cost of transport activities. To test the theoretical assumptions, case study method was used.

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The Impact of E-Commerce Development on the Warehouse Space Market in Poland

Abstract

The subject of discussion in the article is the impact of e-commerce sector on the warehouse space market. On the basis of available reports, the development of e-commerce has been characterized in Poland, showing the dynamics and the type of change. The needs of e-commerce sector in the field of logistics, in particular in the area of storage, have been presented in the paper. These needs have been characterized and at the same time, how representatives of the warehouse space market are prepared to support companies in the e-commerce sector is also discussed. The considerations are illustrated by the changes that occur as a result of the development of e-commerce on the warehouse space market in Poland.

Open access
Impact of Tax Relief on Public Finance

Abstract

Tax reliefs are optional, but a very important element of the taxation system. This element is used for different purposes by a country’s government institutions. Tax reliefs are a form of tax expenditure that helps to reduce budget revenues. Tax reliefs influence individual and corporate financial behaviour and can have positive or negative effects on the economic and social factors. In the last few years, expansion of tax relief has attracted worldwide attention because of the fact that, after the global financial crisis, many countries are still suffering from fiscal deficits, and expansion of tax relief has not contributed to solving this problem. Tax reliefs are presupposed to be a fiscal policy tool of significance in various subsystems of public finances. The main aim of this article is to examine the impact of personal income tax reliefs on Lithuanian public finances. To achieve this aim, statistical information was systemized; Monte Carlo method was used to group data by horizontal rows and logical links analysed, which helped to evaluate the influence of tax reliefs on public finances. In the simulations, the Monte Carlo method helped to simulate random samples, which were then examined by adapting the conclusions of the theory of probability and mathematical statistics methods.

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Legal Aspects of the Implementation of European Union’s Common Commercial Policy: Lithuanian Experience and Practice

Abstract

The Common Commercial Policy is the essential basis of the European Union (hereinafter - the EU), which, in particular, is a free trade area between the 28 Member States with a common external customs tariff and a common foreign trade policy as well as common trade rules with the third countries. Implementation of this policy is characterized by the fact that it is based on an exclusive competence of the EU, which after the Treaty of Lisbon (2009) became even more apparent. Therefore the countries of the EU should follow the same legal principles and rules in the regulation of their foreign trade, that is to apply the uniform EU rules on the calculation of customs duties and determination of the customs origin of goods, customs valuation and tariff classification of goods (Common Customs Tariff). However, implementation of these provisions is always experiencing stress due to the different interests of the EU Member States and the different national practices, especially when the administration of customs duties is actually implemented only at the level of individual EU Member States. Therefore the aim of the article is to assess the implementation of the EU’s CCP from the perspective of the EU Member State (Lithuania) and to describe existing discrepancies which may serve as an obstacle for the development of common regulatory regime for import customs duties in the EU or hinder its main economic goals in international trade. Analysis of relevant scientific problems is mainly based on the comparative method (comparison of the practice of the national courts in the Republic of Lithuania and the Court of Justice of the European Union in disputes related to the functioning of the EU's customs union) and generalization of professional experience (national and EU judicial practice). The research leads to the conclusion that a uniform implementation of Common Commercial Policy and the Common Customs Tariff, as its main element, is not fully ensured on the practical level from the perspective of certain Member States (i.e. Lithuania).

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The Mutual Reciprocity of Education, Non-Formal Cultural Education and Social Capital

Abstract

Human knowledge and creative potential has become one of the most important driving forces of humanity progress. In the context of the twenty-first century, in order to create a high-quality culture environment, it requires a paradigm shift in education - the transition to education, which stimulates the imagination, intuition, emotions and creative ideas and develops critical thinking. Non-formal education and the skills and knowledge gained in it is still in evaluation and recognition phase in Latvia. It is still developing; therefore, it is important to create a clear understanding of the importance and social role of non-formal cultural education. The paper aims to explore the role of non-formal cultural education in strengthening social capital as well as to identify what social capital indicators can be attributed to non-formal cultural education programmes. The topicality of the study is determined by the fact that non-formal cultural education and social capital in the context of Latvia are little explored areas, as well as there is lack of research on mutual reciprocity. The study uses qualitative research methodology. Research analyses non-formal cultural education programmes of 10 subordinated institutions of Latvian Ministry of Culture (museums, theatres, concert institutions and opera) and on the basis of 19 in-depth and semi-structured interviews. Study contains new, theoretically based evaluation model of social capital and characterizes of indicators in the context of non-formal education. The study confirms that there is a mutual reciprocity between social capital and non-formal cultural education programmes, and these programmes have a positive and supportive role in strengthening both the individual and collective social capital.

Open access
Pedagogy of Financial Education among College Students

Abstract

The level of economic thinking and financial culture of population should be considered one of the most important components of society’s economic life quality. Here, a key factor is economic and financial socialization of an individual, which can be achieved mainly by modelling appropriate training process technology to promote and ensure financial awareness at the early stages of training in high school and later on in colleges and universities. This paper focuses on one of the options of a unique subject matter (course) in Financial Education, for which testing started in 2008 and is successfully continuing in the Department of Business Management of Neri Bloomfield School of Design and Education (Haifa, Israel) against the backdrop of a multicultural environment. The study shows the dynamics of the formation of the main teaching methods of the new course. In parallel, we analysed the results of the final examinations of students to further adjust the content and pedagogy of the educational process. The results once again confirmed the urgent need to improve the financial literacy of students in accordance with the challenges of economics and culture in the twenty-first century.

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Problems Related to the Abolition of Divided Real Estate Ownership

Abstract

Legal relationship between apartment owners in residential buildings and the land owners, that is, divided real estate ownership, was created in the Republic of Latvia in 1990, within the framework of the Land Reform, restoring property rights of the former owners or their heirs or privatising apartments in multi-apartment residential buildings. The existence of such legal relationship created different lease problems and restrictions on the property rights to the owners of both the building and the land. To abolish the legal relationship related to divided real estate ownership, the Ministry of Justice of the Republic of Latvia has developed a draft law Regarding the Abolition of Mandatory Divided Real Estate Ownership in Multi-Apartment Buildings (hereinafter referred to as Draft Law). Unfortunately, in the opinion of authors of this article, there are serious shortcomings to the Draft Law which must be corrected. The aim of the research is to identify the problematic issues by selecting and analysing the legislation on the abolition of the divided real estate ownership, which is related to the calculation of redemption price, payment method and consequences of non-payment, which are not regulated by the new Draft Law. The article reflects research on the determination and calculation of redemption price reglamented by the Draft Law and also analyses the Law of December 8, 1938, On the Abolition of Divided Real Estate Ownership and its practical implementation, which may significantly influence the redemption price and the method of its calculation; however, the mentioned law has been disregarded in developing the Draft Law. Thus the research has both theoretical and practical significance. For the research purposes general research methods, such as historical, analytical, inductive, deductive, logical-constructive and descriptive methods, are used. For the interpretation of legislation norms, grammatical, systemic, teleological and historical methods are used.

Open access
Application of Is-Mp-Ia Model and Taylor Rule to Cesee Economies

Abstract

In this paper, the extended framework of the IS-MP-IA model has been tested. Since the appearance of the Romer’s (2000) model, a bulk of studies with its extensions have been published. Perhaps, the most notable amongst them were those proposed by Hsing (2004, 2013) and Giese and Wagner (2006) - which are integral part of this paper. The application of the extended Romer (2000) model to selected Central Eastern and South Eastern Europe (CESEE) countries (Albania, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Macedonia, Moldova, Romania, Russian Federation, Slovak Republic, Slovenia and Ukraine) shows that on an average, higher world output and lower world interest rate and inflation have positive effect on real output. A lower government consumption to gross domestic product (GDP) ratio also increases the real output. However, the insignificant government consumption implies that the Ricardian equivalence might hold in these economies. Hence, fiscal prudence is needed, and the conventional approach of real currency depreciation, in order to stimulate exports and raise real output, is not recommendable for the selected CESEE countries. The results from this paper can be useful for the policymakers and the academia. They prove the theoretical and empirical value of the Romer’s IS-MP-IA model. From a methodological point of view, we use generalised method of moments (GMM) estimator for dynamic panel data models, that is, first-differenced GMM.

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