Browsing by Author "Kubak, Matus"
Now showing 1 - 2 of 2
Results Per Page
Sort Options
- ItemFinancial literacy of students in chosen universities – research platform for regulatory processes of educational system in Slovakia(Technická Univerzita v Liberci, 2018-03-29) Kubak, Matus; Tkacova, Andrea; Androniceanu, Armenia; Tvaronavičienė, Manuela; Huculova, Eva; Ekonomická fakultaThe main goal of this paper is to compare the level of financial literacy among the selected faculties of economics in Slovakia and to elaborate a comparison of financial literacy level at both input and output level, i.e. between the university students at the beginning of their Bachelor study and the university students who are in the final stage of their Master study. In addition, we want to analyze the level of financial literacy by means of practical tasks aimed at confirmation or rejection of the prospect theory principles. Concerning methods we statistically process our primary data which were collected through the survey 2015/2016 from Slovak University of economics in Košice, Prešov and Bratislava. Inter alia, we analyze correlative data dependence of selected variables. The survey is focused also on financial behavior of respondents and their skills in terms of financial literacy concept. Last but not least, we deal with features of respondents' financial decision making under the conditions of risk and uncertainty. At first, we show that statistically significant dependency of FL level on respondents’ sex does exist. Male respondents reached higher FL than female ones. Hypothesis of better high school education of economy at Business Secondary School was rejected, rate of financially literate respondents who attended Grammar School or Business Secondary School is comparable. Subsequently, students in their last year of studies at EKF TUKE and NHF EUBA have significantly higher level of FL than those students who are at the beginning of their studies. Contrary, at FM PU the rate of financially illiterate first-year students was lower than the rate of financially literate students in their last year of studies. We found out a correlation of FL with decision-making based on prospect theory. The results of the presented research provide important information for policy makers who should reflect on present status of this issue in Slovakia.
- ItemOn competition and transparency in public procurement during the COVID-19 pandemic in the European Union(Technická Univerzita v Liberci, ) Kubak, Matus; Nemec, Peter; Stefko, Robert; Volosin, Marcel; Ekonomická fakultaGovernment expenditures on acquiring services, goods, and work through public procurement represent a substantial proportion of the EU’s GDP. Competitive and transparent tendering procedures are generally believed to promote achieving the primary goals of public procurement: maximising value for money and reducing corruption. However, during the crisis, procurement rules allow a temporary departure from transparency standards toward fast and more discretionary procurement procedures justified by force majeure, possibly restricting competitiveness and information availability in the whole procurement process. The presented paper examines emergency response procurement measures by EU countries in the aftermath of the COVID-19 outbreak in the spring of 2020 and their impact on competition. Using an extensive dataset of contracts for medical supplies and PPE obtained from Tenders Electronic Daily, we document the rapid increase of direct and negotiated contracts in the first two months of the pandemic outbreak. We found that firms, in general, were more likely to participate in procurement procedures with a prior call for tenders, such as open procedure and restricted procedure. On the other hand, the significant share of contracts obtained by small and medium enterprises without competition, hence by single bid procurement, suggests that public authorities tend to use their discretion in favour of SMEs. Moreover, overall emergency procurement setting and its effects on competition vary across countries regardless of how intensely the pandemic hit, indicating an institutional context for the increased discretion effects on procurement outcome.