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Abstract

This article aims to analyze the current theory of managing the State-owned Enterprises (SOEs) with the use of Single Ownership Entity and to suggest alternative solution, particularly, managing SOEs with Corporate Social Responsibility (CSR).

After a thorough review of the literature analyzing the connection between CSR and SOEs, the article states that there are important missing points in the previous research and academic debate: (1) no scholar directly emphasizes CSR as the answer to the problems of SOEs; (2) there is no research conducted on the comparison of Single Ownership Entity and CSR, evaluating their potential positive effects on SOEs; (3) accordingly, academic literature does not discuss the ways and tools of implementation of CSR in SOEs.

The article aims to fill this gap and emphasize the links between CSR and SOEs. Due to the challenges, goals and ownership structure of SOEs, CSR is the most suitable corporate governance model for SOEs and its effective implementation is more vital than the execution of recommendations on creating the single ownership entity suggested by international organizations. The research question of the article is to compare managing the SOEs with the use of the CSR model (Alternative Theory) to single ownership mechanism established by OECD (Current Theory) and find out whether CSR is a better solution to the existing problems of SOEs.

Finally, the article discusses the institutional context of SOEs based on the examples of the countries of Eastern and Central Europe where the problems regarding SOEs remain remarkable; presents the balance of interests of stakeholders’ in SOEs in connection to Alternative and Current Theories; and combines analysis, research and recommendations of international organizations and academia towards the problems of SOEs.

Abstract

The goal of this paper is to identify critical factors in success/failure of public policies focusing on fighting the spread of COVID-19 pandemic using a sample of three countries from Central and Eastern Europe with different results regarding COVID-19 morbidity and mortality rates, namely the Czech Republic, the Russian Federation, and the Slovak Republic. Based on comprehensive literature review, three independent variables were worked out: the scope/scale of public policy anti-pandemic interventions, the timing of public policy interventions, and the success of public policies in motivating compliance with anti-pandemic measures. Taking into account the similarity of measures introduced by national governments, the results suggest that the timing of public policy responses and success in motivating compliance may be critical factors in containing the pandemic.

Abstract

Corruption is a factor that affects a company severely either directly or indirectly. It may have a positive or negative impact on the economic situation of the company. This article verifies the hypothesis about the corporate perception of corruption as an obstacle to business performance. It also identifies which factors do have a substantial effect on the perception of corruption by companies. The study was carried out using the logit model. The data used were obtained from the Business Environment and Enterprise Performance Survey (BEEPS) database for 2016.

Abstract

Tanzania, like most other developing countries, faces numerous economic challenges in striving to achieve sustainable economic growth and development through taxation. In the literature, the debate on how effective taxes are as a tool for promoting economic growth and economic development remains inconclusive, as various research have reported mixed effects of tax on economic growth. This article investigates the effect of taxation on economic growth in Tanzania using the recently developed technique of autoregressive distributed lag model (ARDL) bounds testing procedure for the period from 1996 to 2019. Various preliminary tests were conducted including stationary tests as well as the pair-wise Granger causality test. According to the results obtained, domestic goods and services (TGS) taxes are positively related to GDP growth and are statistically significant at 1% level. Income taxes, on the other hand, were found to be negatively related to GDP growth and to be statistically significant at 5% level. The pair-wise Granger causality results indicated that there is bidirectional Granger causality between TGS and GDP growth at 1 % significance level. The government should aim at growing, nurturing and sustaining tax base to positively drive economic growth even further.

Abstract

It has been argued that the Swedish tax system has favored firm control through industrial foundations, which should have inhibited entrepreneurship and economic growth. However, research has been hampered because of a lack of systematic historical tax data. The purpose of this study is to describe the evolution of tax rules for industrial foundations in Sweden between 1862 and 2018 and to calculate the marginal effective tax rate (METR) on capital income. The results show that the METR for an equity-financed investment is typically below 20% and occasionally peaks at approximately 40%. When the requirement that industrial foundations have to donate the bulk of capital income (less capital gains) for charitable purposes is treated as a tax, the METR is seldom below 50% when financing investments with new share issues and often exceeds 100%.

Abstract

The transition of the Polish economy has brought about profound changes in the nature of contracts between employees and employers. These changes have been affected by the process of globalisation and dynamic technological progress. In particular, the characteristics of the contracts and the work itself have changed, which has affected the utility derived from employment by employees. The article attempts to identify the factors providing job satisfaction using the example of railway service employees. In particular, factors such as the position held, levels of tension and stress at work, level of autonomy, opportunities for personal development, the level of accordance between employees’ skills and job requirements, convenient working hours, length of vacation and the level of social respect enjoyed are important. In the study, an innovative discrete choice experiment method and econometric analysis were used to make a comprehensive examination of the factors providing satisfaction to transport service employees. Conclusions from the study indicate that although remuneration is an important element influencing job satisfaction, other non-wage factors also affect the satisfaction. The most important factors include managerial position, opportunities for personal development and the level of social respect related to the given occupation/position.

Abstract

The main purpose of this paper is to determine the impact that Big 4 companies have had after the adoption of International Financial Reporting Standards (IFRS) became mandatory on the audit market. Thus, after thorough research of the specialised studies, the impact of the financial reporting based on IFRS is analysed, while considering that Big 4 companies have created a strong monopoly that led to several changes on the audit market. All the companies listed on the Bucharest Stock Exchange that traded premium shares from 2011 to 2019 were analysed. With the use of ANOVA analysis, this paper verifies if the profitability, shareholders’ funds, firm size and the size of the business group influence the choice of the audit firm. Our results confirm that the choice of an audit firm is influenced by the shareholders’ funds, number of employees and the size of the business group. Besides, this paper presents an analysis of the changes that have occurred from 2011–2019 on the audit market of Romania.

Abstract

Research has documented racial or ethnic discrimination in online marketplaces, from labor markets to credit applications to housing. Platforms should therefore investigate how platform design decisions and algorithms can influence the extent of discrimination in a marketplace. By increasing awareness of this issue, managers can proactively address the problem. In many cases, a simple but effective change a platform can make is to withhold potentially sensitive user information, such as race and gender, until after a transaction has been agreed to. Further, platforms can use principles from choice architecture to reduce discrimination. For example, people have a tendency to use whatever option is set as the default. If Airbnb switched, for instance, ist default to instant book, requiring hosts to actively opt out of it, the company could reduce the scope for discrimination. It is important that discrimination and possible solutions are discussed transparently.

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