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Entrepreneurial Intention in the Visegrad Countries

Abstract

In order to boost students’ entrepreneurial activities, it is essential to identify the factors that form entrepreneurial intentions and to investigate how the development of these factors can be influenced. This paper attempts to explore the main drivers of entrepreneurial intentions and to examine national differences in students’ entrepreneurship by using the database of the GUESSS research project related to the Visegrad countries, namely Poland, the Czech Republic, Slovakia and Hungary. This paper adopts Ajzen’s Theory of Planned Behaviour, according to which attitudes, subjective norms and perceived behavioural control influence entrepreneurial intentions.

The results of this research confirm the significant role that attitudes, social norms and perceived behavioural control play in shaping students’ entrepreneurial intentions. Differences can be experienced not only in the level of intentions, but also in the strength of each factor across Visegrad countries, which suggests that there is a need for solutions tailored the students’ needs in different Visegrad countries. Neither the age nor the gender that are frequently investigated in the literature can significantly increase the explanatory power of the Ajzen’s model. Their effect may be perceived in different attitudes and different behavioural control.

Open access
Evaluation of the Efficiency of Public Support for Cluster Organizations in the Czech Republic

Abstract

The research presented in the paper aims to find out whether the public support (subsidies) received by cluster organizations for their development and activities is efficient. That means whether the state receives a return on investment in the form of increased revenues to public budgets. The research was conducted on a sample of seven cluster organizations that include the following sectors: furniture, packaging and textile production, engineering, the automotive industry, IT and nanotechnology. For each cluster organization, the data on subsidies was drawn from the moment of their establishment until 2017. At the same time, a list of the cluster member organizations was drawn up, with financial data being collected only for business entities. For each enterprise, information about paid corporate income tax, income tax on employment from employee wages, and social and health insurance paid by the companies and their employees was collected. In the next phase, increases in taxes and insurances were monitored and compared to the year in which the cluster organization drew a subsidy for the first time. Subsequently, the public support efficiency rate and payback period were calculated. The research results show that public support for cluster organizations is efficient, with a relatively short payback period.

Open access
Loan to Value Ratio and Monetary Transmission Mechanism

Abstract

Using a dynamic stochastic general equilibrium model (DSGE) with the housing sector, this paper evaluates the impact of housing collateral on the business cycle in the Czech economy. We devote special attention to the setting of the loan to value (LTV) ratio, which we believe plays an important role as a regulator of the monetary transmission mechanism. The impacts of LTV ratio are quantified by simulating the responses of alternative LTV level setting on key macroeconomic variables. Our simulations are based on an estimated DSGE model. Our approach allows us to understand better the responses of the real economy to the tightening of monetary policy moderated by different LTV levels. Our results show that higher loan to value ratios strengthen the effect of the monetary transmission mechanism to consumption and output.

Open access
Pitfalls of DSGE Model Approach in Monetary Union

Abstract

This paper investigates the impact of country size on the DSEG model estimation of the monetary union. Following DSGE model for fiscal policy simulations (FiMod) the union is considered to have a two-country structure, the investigated country has weight in union equal to its population share and the second country represents the rest of members. The model is estimated for different country sizes and it is found there are two areas of equilibrium instability which covers 11 of 19 European Monetary Union members. The result is in contrary with Stähler and Thomas (2012) who estimated FiMod for Spain and stated that model can be recalibrated to every member of the monetary union. According to the result the size of country matters and affects the stability of equilibrium. Therefore, special attention is paid to small economies in monetary union. The results and consequences are then discussed with examples from recent history.

Open access
The Right of Small and Medium-Sized Enterprises to Positive Discrimination in Free Market Competition

Abstract

The author justifies the right of business entities to free economic initiative on the basis of the human right (hereinafter ‘HR’ or ‘HRs’) to liberty, and the right to positive discrimination of small and medium-sized enterprises (hereinafter ‘SMEs’) on the HR to equality, which is in the legal sense implemented by the HR to equal protection. Such positive discrimination ensures the equal protection of SMEs in the conditions of a free market (hereinafter ‘FM’) competition. Taking HRs as his starting points, the author discusses legal policy reasons that impose the duty to enact special measures in favour of SMEs on the legislature, and evaluates the legal sources in the Republic of Slovenia that regulate such measures. By means of the results obtained from a survey conducted with SMEs, the author examines the effects of measures to ensure the equal market position of SMEs, which in the conditions of economic globalisation enables a fair market game between SMEs and large enterprises, to ensure SMEs their existence and further development.

Open access
Are Pain and Suffering Awards (Un-)Predictable? Evidence from Germany

Abstract

This paper assesses the widely held belief that damages for pain and suffering are random or arbitrary. In detail, we investigate whether damages for pain and suffering are systematically affected by individual-, injury- and procedural-specific characteristics and how important these factors are relative to each other. To uncover the predictability of these awards, we rely on a sample of German damages for pain and suffering awards including 2.244 verdicts. By estimating a standard regression model we observe that final awards are systematically influenced by the injury’s conditions, by the court level the case is brought in and by the engagement of a lawyer. Our findings let us conclude that damages for pain and suffering and the respective assessment process within the German judicial system are largely reasonable and transparent rather than random.

Open access
The Centre of Government as the Coordination Point for the Implementation of General Legal Rules

Abstract

This paper aims to establish a degree of existence of Hayek’s idea of governmental assembly in the Centre of Government (CoG), which is not only the technical, administrative support for the Prime Minister but has also a regulatory-coordinative, policy role. This paper’s focus is on CoG that is along with the classical tasks of the Prime Minister’s cabinet dedicated to systemic performance. Having this in mind a request was sent by the National Council of the Republic of Slovenia to other parliaments of the EU member states and Switzerland through the ECPRD net to gain information on the effectiveness of national CoGs and/or Prime Minister’s cabinets vis-à-vis their systemic arrangement. Results show the presence of effectiveness, efficiency, economy, and ethics of legislation in countries, but they are not systemic in the eyes of system theory. Countries need to strengthen the inter-agency collaboration, systemic assessment of the effectiveness of general decisions in the real-time dimension, they need to check the relevancy of agency’s reasons for a draft bill, there could be some performance indicators and possibilities to measure citizen satisfaction.

Open access
Damages for Personal Injuries – in Labour and Service Law

Abstract

The contribution will be devoted to the comparison of damages for non-proprietary loss in public and private sphere. The regulation of service relationship will be analysed in public area, in private area the legal regulation of health injuries in labour law. The aim of the contribution will be a critical analysis of the current state of legal regulation and the proposal de lege ferenda (approximation with labour law). The addressed question is of a fundamental importance for the area of public finances, the functioning of the public area and the enforcement of the rule of law. The historical-comparative method will be used. Particular attention will be paid to the transfer of damages for personal injury to the heir – while in service relationship, such claims terminate (not transferred to the heir), which was taken from the 1960s legislation. They do not terminate after the death in current private law, if recognized or at least claimed in court. Originally, the regulation of damages in public and private law was comparable; however, after the modernization of the private law (2012/14), the protection of persons in service and their relatives becomes weaker, even though it has traditionally been contrary to it in most institutes. Different legal regulations in labour and service law are baseless in the case of damages. The authors propose to modernize the relevant laws, to bring them closer to the Labour Code, both in the possibility of a reasonable increase in damages and in the transfer of damages for pain and diminished social function to the heir.

Open access
Intelligence Information within Criminal Proceedings

Abstract

The purpose of this article is to study the possibility of using intelligence in criminal proceedings in the Slovak Republic. The author examines the current legislation related to the examined issue in the context of criminal procedural law. The aim of the study is to analyze and justify the possibility of using intelligence in criminal proceedings, especially in the taking of evidence. In the context of the current security challenges, this is a serious issue which is currently relatively little developed in theory. The author concluded that the use of intelligence information is possible and applied in criminal proceedings in the Slovak Republic. This is justified by the specific provisions of the legislation in force and by the case-law of the European Court of Human Rights. In this context, it can be expected that the importance of intelligence in criminal proceedings will increase.

Open access
Transparency in Public Procurement – the Case of Slovenia

Abstract

Public procurement is one of the key points of contact between public administration and the economy, while the amount of public resources is a possible source of conflict of interest and corruption. The article aims to contribute to improvements in public procurement legislation and practice. The article examines the practice of supervisory bodies and assesses the frequency of violations of the principle of transparency. The main findings of the article are that over the years of application of the Public Procurement Act in versions ZJN-2 and ZJN-3, the number of violations of the basic principle of transparency increased – the most frequent violations concerning discriminatory criteria set by the contracting authorities and their implementation in the selection phase – and that local municipal bodies violated the principle of transparency more often than state bodies.

Open access