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Assessment of the Financial Performance Transparency of Public Benefit Organisations

Abstract

Research purpose. The aim of the research is to assess the transparency of financial performance of public benefit organisations (PBOs).

Methodology. To achieve the aim and to accomplish the tasks set, general-scientific methods were used: the monographic method, the method of document analysis and the graphical method. A statistical analysis method – descriptive statistics – and a sociological research method – surveying – were used as well.

Findings. Since 1 October 2014 when the Public Benefit Organisation Law came into force in Latvia, the number of PBOs has been increasing every year. On 1 January 2018, the number of organisations with valid PBO status had reached 2,775. To get an insight into the opinions of Latvian PBOs on the disclosure of financial information, a questionnaire was developed. The survey was attended by 201 respondents. The questionnaires revealed that 64.68 percent of the respondent organisations had a website or a web page on a social network, although only 21.89 percent of these respondents' websites contained some sort of financial information. In parallel with the PBO survey, a society survey was conducted to get an overview of the public opinions about the need to make PBO financial information freely available. The survey was attended by 116 respondents. The results indicated that although the PBO attitude to the disclosure of financial information was considered to be reserved, the public saw the need for such information. In view of the insufficient availability of financial information in the country and the low activity of PBOs themselves in voluntarily disclosing their financial information on their websites, it is necessary to carry out activities that supplement free-access information resources and/or motivate the organisations themselves to provide free access to such information.

Practical implications. Based on the experience of other European countries, the Ministry of Finance has to consider amending the PBO Law to oblige PBOs to publish their annual financial and performance reports on their websites or in an equivalent way, thereby contributing to the transparency and accountability of the PBOs towards the society.

Open access
Avoiding Double Taxation Through The Assessment of International Tax Treties. Case: ESP’s versus Anaf Braşov

Abstract

International double taxation represents one of the main problems’ for which taxpayers have to deal within a world fulfilled with globalization, uncertainty, risk, asymmetrical information and moral hazard. In this sense, in this article it is provided a qualitative overview regarding the appearance and evolution of the main double taxation conventions and their legal framework. In this article it is tackled some important issues, namely: the rationale behind the construction and engaging in double taxation conventions; the need for a coherent and just application of those conventions; the historical appearance and evolution of the double taxation conventions, as well as the quid pro quo OECD Model Convention and UN Model Convention. The conclusions of this article highlight the importance and ultimately need for construction of best practices new and complex multilateral tax convention at the UE level in order to diminish the contagious effects of the treaty shopping practices. The case study presented in this article from the Romanian jurisprudence highlights the multi-faced concept of double taxation and the comprehension approach which must be undertaken in order to solve the complex issues of the international taxation via double taxation treaties.

Open access
Changes in Housing Availability Indicator in Selected Polish Cities in the Years 2006 to 2018

Abstract

Research purpose. Housing availability indicator shows the area of residential real estate possible to purchase for the average monthly wage in the enterprise sector. The research carried out in this paper is aimed at determining the current level of housing availability indicator and its detailed analysis, taking into account the dynamics of changes in 2006 to 2018. This analysis will be carried out for primary and secondary market for selected Polish cities.

Design/Methodology/Approach. Calculations were based on the average transaction prices obtained from the transactional database of residential real estate of the National Bank of Poland and the value of the average monthly remuneration in the enterprise sector obtained partly from statistical data and official journals of the Central Statistical Office.

Findings. The analysis shows that the indicator of housing availability in Poland, despite the visible upward trend, is at a very low level, placing Warsaw at the first place. In addition, the extension of the analysis to the division of the housing market into the primary and secondary market provided more information about shaping the housing availability indicator. Whereas in the primary market in individual cities its value was at a similar level, the secondary market was subject to greater fluctuations.

Originality/Value/Practical implications. This paper is of practical nature. Due to the asymmetry of information on the Polish real estate market, especially regarding housing prices, knowledge about the value of the housing availability indicator in Poland may be exceptionally valuable, especially for people interested in the housing market, including individual investors and market practitioners, as an auxiliary source of information in purchasing decisions of households.

Open access
Consumer Involvement in the Purchasing Process: Consciousness of the Choice

Abstract

Research purpose. Consumer is becoming demanded one in the purchasing process. Thus, consumer behaviour analyses thinking about his or her involvement in the purchase process could be a solution for marketers. This article concentrates on the consumer’s choice of food products in the purchase process because the author is interested to clarify the connection amongst choice, purchase and wasting of food. The research purpose is to evaluate the consumer’s consciousness in choosing food product in the purchase process.

Design/Methodology/Approach. Quantitative method using questionnaire was applied to 643 respondents whilst implementing formulated aim. Cronbach’s alpha analyses of 35 items (0.870) showed reliability of the research.

Findings. The research results indicated that consumer in the food purchase process is low conscious because he or she does not understand that he or she is buying more than what he or she needs and thus some of his or her purchase becomes waste. Consumer’s consciousness could be seen in the consumer’s lifestyle such as preferences for homemade food.

Originality/Value/Practical implications. The research results could be used in practice and science. Food-producing companies might use some research results making their packaging solutions. The research results could give incites for scientists for future research.

Open access
Cooperation or Conflict? The Nature of the Collaboration of Marketing and Sales Organizational Units

Abstract

Research purpose. The marketing and sales activity of a company can involve synergy, and coordinated operations can contribute to the success of the enterprise. However, the operations of the former departments often rely on individual successes, which boost conflicts of interest and hinder collaboration. The main aim of the research described in this paper is to explore the areas and focal points of collaboration and conflict in order to highlight the tools that can contribute to enhancing alignment and effectiveness. A further goal is to examine the relationship between marketing and sales and their appraisal of each other.

Design/Methodology/Approach. The empirical research applied three qualitative focus group interviews among marketing and sales employees in different positions at multinational enterprises. Results are analyzed using grounded theory methodology.

Findings. The research highlights the process interfaces between marketing and sales activities and results in the identification of the competence and attitude gaps in their cooperation. Marketing is an entire corporate function, although without knowledge of customers and markets and experience of sales it is unable to foster the innovation processes which, along with cost and time management, result in “efficient and effective corporate operations” as the core category of grounded theory. The outcomes presented here are novel in relation to how they highlight that collaboration should be grounded on clearly defined corporate targets and the engagement of employees with these, as well as supportive and reinforcing manager–subordinate relationships. However, the prioritization and appraisal of the departments of organizational units appears to be dependent on the position and information coverage of employees. Having more information increases the latter’s ability to better evaluate other fields of business. In addition to these issues, the explored discrepancies refer mainly to the information transfer process, suggesting that the external and internal accessibility and availability of information to departments is crucial. Information that is accompanied by accurate predictions about market demand and local needs adjustment enables successful innovation and helps create marketable, innovative, well-differentiated, high-quality, valuable products, the availability of (and customer responses to) which is required for the successful performance of a company. The former may be delivered through the contribution of both organizational units. Building and reinforcing human relationships can facilitate these processes.

Originality/Value/Practical implications. In comparison to other research on this topic, the present study applies focus group interviews as a novel method to create a deeper and more thorough picture of the related processes. The model which emerges from the analysis of results highlights problems with practical management that can contribute to the development of a more efficient management system. Employees can be trained to decrease the identified discrepancies, while rewarding positive attitudes to collaboration contributes to their alignment.

Open access
Criminal Responsibility for Concealing Truth in Finance

Abstract

The disguise of truth as one of the main sources of blameworthy in the Qur’an and the customs has been extremely condemned and has cautioned the concealer. In light of the Quranic documentation and the legitimacy of the disguise of reality, it has been acknowledged and acknowledged that instances of household and outside business sectors that reason doubt of merchants and uncertainty in the monetary space have been a wellspring of perplexity by the gatherings to the agreement. In Iran’s law, regardless of the expectation of common risk, including pay and end for hiding reality, no assurance of criminal requirement has been predicted. In this article, alluding to the refrains and portrayals, the standard of wellbeing and the guideline of the supply of products reality in contracts where the purposeful camouflage causes unsalvageable harm, by adjusting the components of wrongdoing, notwithstanding thoughtful risk, for hiding criminal obligation.

Open access
Decision-Making in the International Monetary Fund: Implications for Sovereign Equality of States

Abstract

The International Monetary Fund (IMF) is one of the post-Second World War international organizations set up to promote good international economic cooperation among states. Unlike international organizations like the United Nations (UN) and the World Trade Organization (which succeeded the General Agreement on Tariff and Trade 1947), decision-making in the IMF is quite peculiar in that it is based on the joint stock company model where the value of shares determine the value of a member’s vote. Thus the principle of sovereign equality of states that underpins the one-member-one-vote system in the UN and WTO is absent in the IMF. This paper discusses the various decisionmaking organs in the IMF and concludes with a discussion on the sovereignty implications of the use of IMF conditionalities in the giving of loans, especially to developing countries.

Open access
The Defence of Necessity in International Law and Investor Versus State Dispute Settlement

Abstract

The ability of foreign investors to sue host states without reliance on diplomatic protection is one of the most important developments in international investment law in the post-World War II era. The rise of investor-state dispute settlement under international regimes like the Convention Establishing the International Centre for the Settlement of Investment Disputes (ICSID Convention) raises some concerns from states regarding loss of sovereignty. However, there are defences available to states when they intervene in their economies for purposes like public utility or the need to safeguard an essential interest. Thus in spite of treaty commitments that bind states to protect the investments of foreign investors within their domains, there are available defences for their intervention in their economies even if such interventions become inimical to the interests of foreign investors and could, prima facie, raise the possibility of infringements of the rights of foreign investors. One of such defences available to states is the principle of necessity. This article explores the principle of necessity in international law and how it operates as a defence for states in investor-state dispute settlement. It also conducts analysis of the Annulment Decision in the CMS v Argentina case to shed light on the principle of necessity.

Open access
Digital Economy and Society: Baltic States in the EU Context

Abstract

Research purpose. The high penetration of the Internet and increased level of use of digital devices create conditions for the development of the digital economy and society. Understanding and management of this model are essential whilst seeking to compete in the global market and to ensure a high standard of living for citizens. However, despite the opportunities presented by the digital economy, the Baltic States have not yet fully exploited the potential of digital technologies for sustainable development. The purpose of this research is to assess the progress of the Baltic States towards developing a digital economy and society and to identify areas requiring priority investments and action.

Design/Methodology/Approach. The Digital Economy and Society Index (DESI) published by the European Commission is used to explore the potential of the digital economy. It is an index measuring progress in digital performance through five components: connectivity, human capital, use of internet, integration of digital technology and digital public services. DESI is a crucial tool to reflect the performance of the Baltic States in the context of other European countries.

Findings. The survey shows the individual performance of each Baltic country and compares them amongst themselves as well as with other EU countries. Estonia has the highest DESI when compared with other Baltic countries; however, lower scores in connectivity and integration of digital technology components are observed. Lithuania scores high in the integration of digital technology, whereas the human capital component remains lower. Latvia is a leader amongst connectivity but descents to other Baltic countries in human capital and integration of digital technology components.

Originality/Value/Practical implications. The digital economy remains a widely discussed topic; however, a lack of unanimous scientific definition and detailed research on this economic model complicates understanding of digital technologies. It is essential for each government to analyse the model and focus on the improvement of the digital economy in order to ensure that the country remains digitally competitive in the world.

Open access
Efficacy of E-recruitment Practices on Employee Retention in Multinational Corporations

Abstract

Research Purpose. The human resource function of firms is faced with the challenges of identifying recruitment practices that contribute to employee retention as a recruitment outcome. The aim of the study was to examine the relationship between E-recruitment practices and employee retention of multinational corporations (MNCs) in Nigeria.

Design/Methodology/Approach. Two research questions were posed for the study and two hypotheses formulated in line with the objectives. Questionnaires were administered to the selected population of the Unilever Nigeria Plc. Corporate websites and commercial websites sites were the E-recruitment practices used to analysed their influence on employee retention. The data were analysed using manual and electronic based methods through the data preparation grid and statistical package for the social science, (SPSS). The study made use of statistical tools such as regression analysis in testing hypothesis and analysis of variance (ANOVA), which helped in the interpretation of results.

Findings The research use analysis to estimate trends that corporate websites and commercial websites were significant in explaining employee retention. The results of this study confirm existing literature that argues for a positive relationship between the two variables. The results also portray that human resource managers should have an understanding of the relationship between E-recruitment practices and employee retention.

Originality/Value/Practical implications. The study seeks to contribute to existing literature on E-recruitment practices and employee retention. The practical justification would be useful to human resource practitioners by making them aware of the current E-recruitment practices and the impact of its implementation to a firm’s level of employee retention

Open access