Rok 2022 (ročník 25)

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MANAGERS’ ETHICS OF TAX EVASION: THE ROLES OF FAMILY, RELIGION, AND SOCIAL CONDITIONS
(Technická Univerzita v Liberci, ) Vo, Thuy Thi Diem; Tuliao, Kristine Velasquez; Chen, Chung-wen; Ekonomická fakulta
Tax income is one of the essential financial resources to maintain a nation’s development, as tax revenue promotes the advancement of social welfare and community affairs. However, tax evasion has been a persistent governmental and societal concern. In order to expand insights on tax evasion of managers, the authors used Emile Durkheim’s sociological theory of anomie to investigate the individual-level association between managers’ perceived family and religion importance and their attitude toward tax evasion. Additionally, the theory was employed to examine how country-level aspects moderate that individual-level relationship. The hierarchical linear modeling (HLM) method was utilized to analyze data of 3,475 managers from 47 countries obtained from the World Values Survey (WVS). Results indicated that the managers’ perceived family and religion importance were negatively related to their ethics of tax evasion. Moreover, the individual-level relationships were moderated by the country-level factors of poverty, good governance, political integration, and social integration. Most study findings supported Durkheim’s original propositions, whereas complementary arguments were offered to explain the results contradicting them. Since there are no existing studies on the influence of managers’ perceived family and religion importance on the ethics of tax evasion and how social perspectives moderate their impacts, the results of this study offer deeper insights into understanding the issue. Practical implications for organizations and society were discussed to reinforce managers’ ethics of tax evasion. The study findings will help organizations and governments establish social programs that will decrease managers’ likelihood to evade taxes, thereby contributing to the development of organizations and the nation.
COMPARISON OF CREATIVE ACCOUNTING RISKS IN SMALL ENTERPRISES: THE DIFFERENT BRANCHES PERSPECTIVE
(Technická Univerzita v Liberci, ) Drábková, Zita; Pech, Martin; Ekonomická fakulta
Small enterprises are exposed to new challenges in examining the impact of creative accounting on their financial statements, particularly when assessing ‘going concerned’ conditions and increasing the risk of fraud. The article aims to identify accounting errors and fraud risks made by accounting adjustments, thus distorting the true and fair presentation of financial statements. We aim to explore the risks of creative accounting based on the relationship between profit creation (EBT) and cash flow (CF) by applying the CFEBT risk triangle method. We analyze small enterprises operating mainly in the trade, processing, and construction industry to achieve this. The detected risks of accounting records were subsequently compared and evaluated in the selected branches of activities. Our research findings confirmed that M-score values were primarily negative for the monitored industries of small enterprises. The resulting values point to applying creative accounting methods – earning management, which pursues, in particular, tax optimization, and, on the other hand, the fulfilment of profitability criteria. A more profound analysis of selected accounting items and financial indicators confirmed more substantial differences between the trade and construction industries. Differences between the branches were found in one-half of the financial indicators and most of the 14 accounting items monitored. The accounting risks ascertained may be used as a tool for reducing the information asymmetry between authors of accounting records and users of reported accounting data and information. The detection and evaluation of risks of accounting errors and errors beyond the economic substance of reported data may considerably improve the quality of decision-making of internal and external users and is also used by persons authorized to conduct the administration and Corporate Governance for increasing the efficiency of enterprises’ internal control systems.
MEASURES SUPPORTING ENTREPRENEURSHIP IN SLOVAK SMES IN THE MOST VULNERABLE INDUSTRIES IN TIMES OF THE COVID-19 PANDEMIC
(Technická Univerzita v Liberci, ) Lesáková, Ľubica; Vinczeová, Miroslava; Kaščáková, Alena; Ekonomická fakulta
The anti-pandemic measures taken to prevent the spread of the coronavirus has slowed down the economic activities of many businesses. Particularly vulnerable are SMEs in industries hardest hit by the crisis. These are SMEs which, due to the nature of their activities, have seen their operations severely restricted or even had to shut down during the pandemic. Key to ensure their survival are government support measures. The aim of the paper is to find out whether there is a dependence between the industry in which SMEs operate and measures to support entrepreneurship in most vulnerable industries during the second wave of the COVID-19 pandemic in Slovakia and to assess whether the measures adopted by the government correspond to those proposed by SMEs in these industries. For the analysis, data from a survey conducted by the Slovak Business Agency in November 2020 on a sample of 1,109 Slovak SMEs were used. We identified the dependence of the above two characteristics, i.e., the industry and the support measures (distinguishing between measures implemented and measures proposed by SMEs) using the statistical analysis. To verify the correlation between the implemented measure and industry, the chi-squared test of independence was used. To determine whether the support measures adopted by the Slovak Government correspond to those proposed by SMEs, we used the correlation analysis, comparison and synthesis. The results confirmed no major differences between the type of industry and measures proposed by SMEs. Some minimal differences were identified in the most vulnerable industries (accommodation and catering). SMEs negatively assess that their views were not sufficiently taken into account when the measures were adopted by the Slovak Government and that they contain a number of exceptions and conditions under which the aid is provided. Irrespective of the type of industry, SMEs particularly call for the reduction or partial remission of levies, increase in the fixed cost allowance and in flat-rate aid calculated on the basis of the decrease in sales.
EFFECTIVE DETECTION AND PREVENTION OF FRAUD: PERCEPTIONS AMONG PUBLIC AND PRIVATE SECTORS ACCOUNTANTS AND AUDITORS IN SAUDI ARABIA
(Technická Univerzita v Liberci, ) Alfordy, Faisal D.; Ekonomická fakulta
Globalization has inevitably transmuted fraud into a transnational hazard and raised significant apprehensions. Fraud affects organizations worldwide irrespective of nature, size, profitability, or industry. The pervasive nature of fraud serves a premise to study the menace further. Hence, this research investigated the perceptions among accountants and auditors on the effectiveness of fraud detection and prevention by public and private Saudi organizations. This research presented an exploratory case study within the Saudi Arabian social, economic, and cultural environment. Data-gathering through inquiries and questionnaires were performed among accountants, internal and external auditors from public and private sectors. The results revealed that accountants and auditors in Saudi private and public firms were highly cognizant on fraud awareness, general guidelines, subsequent responsibilities, and reporting venues. In addition, both sectors were found to have invested extensively in fraud detection and prevention technologies. Also, employees were found not have been regularly trained on fraud prevention and detection. Furthermore, forensic accounting, being a relatively new genre in fraud detection and prevention, is found sparingly utilized among public and private sectors’ organizations. Forensic accounting is yet to be accorded adequate authority in the Saudi context, and was found superficially placed under the Saudi Organization of Certified Public Accountants (SOCPA). Despite qualification, experience, and age being recognized as key elements to Saudi accountants and auditors in fraud detection and prevention, lack of proper training leaves employees with limited dexterity and exposes them to legal repercussions. In general, the current legal infrastructure in Saudi Arabia needs to be revisited to improve effective detection and prevention of fraudulence. This study provided insights into the Saudi Arabian fraud detection & prevention, hardware, infrastructure, and human resources as the contributors of a fraud-free society.
COMPARISON OF CLOUD SERVICE CONSUMPTION IN THE CZECH REPUBLIC, VISEGRÁD GROUP AND EUROPEAN UNION
(Technická Univerzita v Liberci, ) Zbořil, Martin; Svatá, Vlasta; Ekonomická fakulta
Adoption of cloud services has an increasing trend for many years already and no indication that it should change in close future has occurred. Moreover, cloud consumption has been further enhanced due to the COVID-19 situation since a great number of employees started to work from home and therefore, they need to access resources over the internet. This article describes the performed analysis of official data provided by the European Union on the consumption of cloud services in the member countries. The analysis particularly focused on comparing the cloud consumption in the Czech Republic, Visegrád Group and European Union in total. The consumption was compared based on multiple criteria – primarily on cloud service types, organization types, consumption trends. The analysis was conducted over sets of biannual data (2014, 2016, 2018, and 2020) that are available on the Eurostat site for all the European Union countries. The comparison showed that the level of cloud consumption differs across and that the average consumption for the European Union is higher than in the Czech Republic and in Visegrád Group. Besides, the comparison revealed that consumption in the Czech Republic is slightly higher than in Visegrád Group. Such pattern in the comparison between the three subjects was present in the majority of comparisons and therefore it might be stated that the Czech Republic and Visegrád Group are behind the average cloud consumption in European Union. This article is closely related to the Information Management as one of the aims of the E&M Economics and Management journal.
A HOLISTIC REVIEW OF DETERMINANTS AND EFFECTS OF INTEGRATED REPORTING ADOPTION
(Technická Univerzita v Liberci, ) Tiron-Tudor, Adriana; Hurghis, Rares; Topor, Dan Ioan; Ekonomická fakulta
IR represents a new reporting model focusing on the value created by a company over time, using various capitals, and is based on integrated thinking. The latest focus of IR research and articles shifted from analysing the potential benefits or the limitations of IR adoption towards identifying determinants and effects of adoption and implementation. Using a holistic approach of IR literature review and incorporating a scientometric analysis for 2011–2021 period, this study aims to provide the big picture of the IR research, revealing contemporary IR themes and providing future research directions. The study identified six major themes that have evolved in the last ten years related to the IR phenomenon: adherence, quality, elements disclosure, alignment, readability, and process. The results highlight three groups of determinants of IR adoption and implementation related to company, country, or industry, company-level ones being the most analysed group. Furthermore, the most-analysed company-level determinants are related to a company’s corporate governance, particularly the board of directors’ characteristics. The effects of IR adoption and implementation are grouped in two categories related to market and company, primarily focusing on market-level effects. Of the examined market-level effects, company value and analysts’ earnings forecasting precision are the two most encountered. This study provides a comprehensive approach by integrating bibliometric analysis, science mapping, and qualitative analysis with the latest IR research. The current literature review brings various implications for practice, regulators and academia. Companies that aim to implement integrated reporting using the IIRC Framework could implement company-specific determinants to encourage IR adoption. Moreover, companies can benefit from real effects by adopting IR. Regulators can require specific regulations or implement specific regulations to foster IR rollout. Finally, academics can use the findings of the current literature review for further development and in-depth analysis, even though empirical research.
JOB STANDARDIZATION AND DEVIANT WORKPLACE BEHAVIOR
(Technická Univerzita v Liberci, ) Mao, Hsiao-Yen; Ekonomická fakulta
Facing fiercely competitive global environments, organizations use widespread mass production of goods and services for lower cost and larger market shares for survival and growth. Thus, a job design and characteristic of standardization has long been adopted and recognized to be essential for the competitiveness of organizations by sustaining output consistency, effectiveness and efficiency. However, Keeley (1988) maintained that organizations have a fundamental tension between the goal of efficiency and the goal of morality and struggle for a delicate balance between these competing objectives. This tension elicits the question whether job standardization relates to deviant workplace behavior (DWB), which is immoral, pervasive in the workplace and harmful to organizational competitiveness. Using conservation of resources theory as an underlying explanation, this study developed an interesting theoretical model that specified how and why job standardization enhances DWB directed at the organization (DWB-O) and attenuates DWB directed at organizational members/individuals (DWB-I). Three-wave panel survey data were collected from 283 employees with various occupations. Empirical results found job standardization evokes employee boredom, which, in turn, translates into increased DWB-O and decreased DWB-I, suggesting employees’ concern for workplace relationships. With job design of standardization, organizations can use the influence of coworkers to stifle DWB-O. This study extends and shifts the understanding of job standardization consequences from the side of employee positive behavior to the side of negative behavior. DWB literature on situational antecedents, focusing on the organizational systems/social context and theory, is enriched by invoking a job perspective of standardization and resource theory.
DO SERVICE QUALITY AND SOCIAL MEDIA MARKETING IMPROVE CUSTOMER RETENTION IN HOTELS? TESTING THE MEDIATION EFFECT
(Technická Univerzita v Liberci, ) Cheraghalizadeh, Romina; Dědková, Jaroslava; Ekonomická fakulta
Customer retention is a critical factor in companies’ survival, and both service quality and social media are important means of retaining customers. However, despite this importance of these antecedents, only a few studies considered the effects of these factors in the hotel industry literature. With the application of social exchange theory, the current research aims to evaluate the effect of service quality and social media marketing on customer retention in hotels, and evaluates how customer satisfaction, brand awareness and brand image mediate this association. After pre-testing the questionnaire, data of this research was collected from 4- and 5-star hotel customers in various cities of the Czech Republic. Before testing the hypotheses, data have been tested in term of checking reliability and validity. Moreover, the probability of common-method bias was also tested in order to ensure there is no variation caused by study method or instrument. Testing the hypotheses was done using correlation and regression analysis afterwards. Findings of this research indicated that service quality and social media marketing improve customer satisfaction, brand awareness, and brand image. Moreover, customer satisfaction, brand awareness, and brand image are also antecedents of customer retention. Findings also confirmed that these three factors (customer satisfaction, brand awareness, and brand image) play the mediation roles between Service quality and revisit intention, and also between social media marketing and revisit intention. Results of this research showed the importance of both service quality and social media marketing in order to achieve better customer outcomes and encourage clients to revisit the hotel. The findings can provide important managerial and practical implications to the hotel industry.
PREDICTING JOB SATISFACTION AND WORK ENGAGEMENT BEHAVIOR IN THE COVID-19 PANDEMIC: A CONSERVATION OF RESOURCES THEORY APPROACH
(Technická Univerzita v Liberci, ) Nemțeanu, Marcela-Sefora; Dinu, Vasile; Pop, Rebeka-Anna; Dabija, Dan-Cristian; Ekonomická fakulta
The rapid spread of the COVID-19 pandemic has forced organizations to impose physical distancing restrictions on employees and to practice teleworking on a large scale. Adapting to the new context has generated an increase in job insecurity, and a decrease in employee productivity concerning task completion, boosting stress and counterproductive work behavior. Although the challenges employees face when carrying out their activities and work-related responsibilities, together with an understanding of the factors generating counterproductive work behaviors and job insecurity have been intensely studied in the literature, their manifestation and impact within organizations in the context of the COVID-19 pandemic is barely covered. This paper aims to fill this research gap by evaluating the way internal vision communication, employee reward systems, knowledge, and skills capitalization, and the maintaining of task performance can diminish counterproductive work behaviors and job insecurity generated by the COVID-19 pandemic, influencing employee satisfaction and behavior in this stress-inducing context. The responses collected from 863 Romanian employees are modelled with the help of structural equations in SmartPLS. The results show that in the case of counterproductive work behavior, employee satisfaction diminishes, while efficient performance of tasks and responsibilities, knowledge and skills capitalization, internal vision communication, and the existence of an employee reward system for employee input can all generate greater organizational attachment. Job satisfaction mediates the influence of performance, internal marketing, and counterproductive work behavior in employees’ attachment towards their respective organizations. The paper contributes to the development of the Conservation of Resources Theory, highlighting, in the context of the COVID-19 pandemic, ways in which employee satisfaction and work engagement behavior can be enhanced, thus contributing to diminishing counterproductive work behaviors, and fostering a pleasant and safe work environment.
AGRICULTURAL OUTPUT EFFECT OF RURAL FINANCE: AN EXTENDED REGRESSION APPROACH
(Technická Univerzita v Liberci, ) Jing, Xinxin; Jiang, Ruchuan; Chen, Zhiguo; Deng, Zhi; Ekonomická fakulta
Agricultural output growth is an everlasting realistic problem in human society. Rural finance aims to relieve the financing constraint and pressure on the rural society with capital scarcity through credit aid and support agricultural output growth. However, credit funds cannot be adequately input into agricultural production and management, which adversely impacts agricultural output. To accurately investigate the agricultural output effect of rural finance, using the 2015 China Household Finance Survey’s large-sample micro-survey data, an extended regression model (ERM) was established that could effectively eliminate the endogeneity problem. Then, the agricultural output effect of rural finance was empirically estimated. Subsequently, the robustness of empirical results was tested using the propensity score matching (PSM) method and the Kernel density map. Agricultural technical guidance was introduced to explore its regulating effect on the relationship between rural finance and agricultural output. Furthermore, the robustness test was conducted for different groups, such as the eastern region, the western region, and the central region, to investigate the regional differences in the agricultural output effect of rural finance. The estimation results of ERM indicate that rural finance exerts a significantly positive influence on the agricultural output, and a large estimated coefficient manifests the considerable agricultural output effect of rural finance. The estimation results of the PSM method show that rural finance significantly increases the agricultural output of all peasant household samples averagely by 11,100 CNY. Agricultural technical guidance has a significantly positive regulating effect on the agricultural output effect of rural finance. According to the regional heterogeneity analysis, rural finance is significantly promoted in central and western regions, but it presents an insignificant crowding-out effect in the eastern region. Conclusions in this study can provide pertinent enlightenment for strengthening the productive functions of rural finance and lay a theoretical foundation for facilitating its healthy development.
TALENT RETENTION IN SLOVAK COMPANIES: EXPLORATIVE STUDY
(Technická Univerzita v Liberci, ) Savov, Radovan; Kozáková, Jana; Tlučhoř, Jan; Ekonomická fakulta
The success of talent management is based on keeping talented individuals in a company. Attractive work, suitable working environment, strong organizational culture, work flexibility, effective leadership, as well as financial or non-financial benefits are factors that a company can significantly influence in order to retain talent for future tasks. On the other hand, companies should avoid mistakes that complicate retention of talent, for example, extreme workload, conflicts with executives, lack of opportunities for self-development, as well as inadequate financial remuneration. The goal of presented study is to explore differences in talent retention in various types of companies according to several factors. Realized questionnaire study obtained data from 381 companies represented by managers. Data were analyzed quantitatively by ANOVA and results were completed and described by Focus groups qualitative research. The research model was set according to outcomes of previous researches with following most important factors: financial requirements, motivation system, communication and self-development. Also, the challenges from outside and specific procedures provided inside the company to retain talents were added. Obtained outcomes shows interesting differences between companies in successful retention of talents which can be found: in private companies, in companies with foreign capital, in companies with a HR unit, and companies with a better financial situation. Surprising findings were seen in the comparison of companies by size. Despite the better chances of retaining talents in larger companies, the talent retention process is more successful in small ones. Our study helps to understand the current situation in talent retention in different types of Slovak companies and find ways to improvement. Outcomes are significant for managers, researchers and education of future entrepreneurs. However, despite good knowledge of practical implementation of talent retention in Slovak companies there are still limited financial resources and regulations which impede the application of the results obtained.
MODERATING ROLES OF INFORMATION TECHNOLOGY LINK AND INFORMATION SHARING IN DRIVING SUPPLY CHAIN PERFORMANCE THROUGH SUPPLIER DEVELOPMENT AND KNOWLEDGE ABSORPTION: EMPIRICAL EVIDENCE FROM MANUFACTURING FIRMS ACROSS COUNTRIES
(Technická Univerzita v Liberci, ) Phan, Anh Chi; Nguyen, Ha Thu; Nguyen, Hao Anh; Matsui, Yoshiki; Ekonomická fakulta
Along with information technology adoption, supply chain coordination through information sharing activities has become essential to achieve supply chain effectiveness and resilience. This paper presents the results of an empirical study investigating the moderating roles of information technology link and information sharing on the relationship between supplier development, knowledge absorption from customers, and supply chain performance. Statistical techniques such as measurement test, correlation analysis, and regression analysis are applied to analyze the data collected during the Round 4 of the High Performance Manufacturing (HPM) Project. The data sample includes 304 manufacturing plants operating in 13 countries including Brazil, China, Finland, German, Italy, Israel, Japan, Korea, Spain, Sweden, Taiwan, United Kingdom, and Vietnam. Analytical results indicate that a supply chain would perform better when focal firms invest their effort in supplier development and knowledge absorption activities and develop a strong link with suppliers and customers through information technology systems. Information technology links with suppliers and customers have significant moderating roles in strengthening the relationship between supplier development, knowledge absorption from customers, and supply chain performance. Moreover, information sharing exchange with suppliers were found to make the association between supplier development and supply chain performance becomes more pronounced. The empirical results contribute to the existing literature of information sharing and supply chain coordination in supply chain management. In addition, this study provides several practical implications, such that information technology linkage and information sharing activities should be considered as the platforms for organizations to interact with different supply chain partners for achieving high supply chain performance.
FIRM AGILITY AND DIGITALISATION LESS HELPFUL THAN EXPECTED DURING THE COVID-19 PANDEMIC, BUT VALUABLE IN THE LONGER RUN
(Technická Univerzita v Liberci, ) Redek, Tjaša; Čater, Tomaž; Čater, Barbara; Černe, Matej; Koman, Matjaž; Ekonomická fakulta
Firms’ performance during exogenous crises depends on several factors, from strategic foresight, financial readiness, and a number of firm-specific as well as sectoral aspects, also including luck and government support. The aim of this paper is to investigate the extent to which the ‘crisis readiness’ of firms, defined by factors like a proactive strategic approach, digitalisation, and financial constraints, as well as the reliance on or availability of government support, is responsible for the outcome during the COVID-19 crisis compared to the long-run contribution made by these factors. The empirical investigation uses a unique combination of firm-level balance sheet data and unique survey data concerning the strategic focus and implementation of Industry 4.0. While the literature suggests that digitalisation, a strategic proactive approach, and crisis readiness (itself depending on several factors) impacted the firms significantly during the COVID-19 crisis, the results show firm performance primarily depended on other (sectoral) aspects serving as a major exogenous factor impacting their performance. During the crisis, digitalisation was additionally mentioned as an important adjustment factor. However, using firm-level data we show that while companies were able to mitigate certain impacts of the supply and demand shocks triggered by COVID-19 using their internal resources and characteristics, including strategic elements, the biggest explanatory factor remains the sector involved. This leads to important managerial and policy recommendations, principally stressing the importance of proactivity and agility for firms’ long-run performance, whereas in the short run the state must help mitigate the effects.
DIGITAL INEQUALITY AND USAGE GAP IN THE V4 REGION
(Technická Univerzita v Liberci, ) Vallušová, Anna; Kuráková, Ivana; Lacová, Žaneta; Ekonomická fakulta
The V4 countries have achieved different levels of digital transformation due to distinctions in their individual technical infrastructure and human capital characteristics. The success of digital transformation cannot be measured solely by the achieved level of digitalization; the distribution of favorable outcomes of internet use within a country should also be considered. The level of digital skills and usage patterns differ among social groups, therefore capability to translate internet access and use to tangible (offline) benefits varies. The aim of our paper is twofold. Firstly, we quantify the extent of the digital inequality in terms of usage gap in the V4 countries. We indicate the dynamics of inequality by comparing the development of such inequality between the years 2015 and 2019. Secondly, we identify socioeconomic and sociodemographic factors, which are connected to differences in internet usage patterns and therefore affect the capability of an individual to benefit from internet use. In common with other studies carried out in the Western world, we show that internet access and possession of formal digital skills are not the most important determinant of probability of being a digital beneficiary; individual characteristics, especially education and age, predict the probability of being a digital beneficiary to a higher degree of accuracy. As to the extent of digital inequality in the individual countries, we come to conclusion that although the V4 countries are relatively homogeneous concerning socioeconomic inequalities, the level of digital inequality among them differs – Hungary being somewhat unequal as compared to the most equal Czechia. In all four countries, equality increased within an observed period.
THE COMPETENCY-BASED TRAINING & ASSESSMENT, AND IMPROVEMENT OF TECHNICAL COMPETENCIES AND CHANGES IN PEDAGOGICAL BEHAVIOR
(Technická Univerzita v Liberci, ) Khan, Saba; Ahmed, Rizwan Raheem; Streimikiene, Dalia; Streimikis, Justas; Jatoi, Munsif Ali; Ekonomická fakulta
This research aims to analyze the improvement of technical competencies and changes in pedagogical behavior on competency-based training and assessment. We developed a modified conceptual model with the help of previous literature. We examined the impact of competency-based training & assessment on traditional teaching methodologies, practical teaching strategies, technical knowledge, and pedagogical & technical components as outcome variables. We also incorporated behavior & psychological aspects of teachers as mediators in our modified conceptual model and examined the mediation between exogenous and endogenous variables. We have collected the data of 458 respondents using a modified structured questionnaire from public and private teachers of Sindh technical and vocational institutions online from different regions of Sindh, Pakistan. For the data analyses, we employed SEM-based multivariate techniques. The findings exhibit that the direct relationship between competency-based training & assessment (independent variable) has a significant and positive influence on traditional teaching methodologies, practical teaching strategies, technical knowledge, and pedagogical & technical components as outcome variables. Similarly, the findings further concluded that behavior & psychological aspects are potent mediators between competency-based training & assessment and traditional teaching methodologies, teaching-learning abilities, practical teaching strategies, technical knowledge, and pedagogical & technical components as outcome variables. Hence, the behavior & psychological aspects of teachers is a vital factor that accelerates the impact of competency-based training & assessment on the dependent variables. The outcomes of this research are imperative theoretical and practical implications, which may guide the direction of future researchers and policymakers of vocational training and education.
FACTORS HINDERING THE CONDUCT OF AUDITS OF CORPORATE SOCIAL RESPONSIBILITY REPORTS: EVIDENCE FROM POLAND
(Technická Univerzita v Liberci, ) Bartoszewicz, Anna; Rutkowska-Ziarko, Anna; Ekonomická fakulta
This article presents the results of empirical research conducted among audit firms in Poland regarding the factors hindering the provision of non-financial information verification and attestation services. The rapidly developing practice of non-financial reporting among socially responsible entities in Poland does not translate into the number of reports that are subjected to external audits. Despite the unquestionable need to confirm the reliability of non-financial data, services of this type are not provided by the majority of audit firms. The primary aim of the article is to identify the factors hindering the performance of audits of non-financial reports in Poland. The article identifies the entities operating in the Polish audit market in terms of selected features. The authors provided answers to three main research questions: What percentage of audit firms in Poland carry out the verification of non-financial reports? What is the size and the level of employment of audit firms in Poland? What factors hinder, in the auditors’ practice, the performance of audits of non- financial reports? To achieve the objective, a survey research was conducted among audit firms under the supervision of the Polish Agency of Audit Oversight. The theoretical basis of the article included a literature study on the audit of non-financial reports as well as an analysis of regulations governing this subject matter in Poland. This study is the first such review of factors that condition the use of such an important tool as an audit in non-financial reporting. The obtained study results indicate that only 2.3% of audit firms perform audits of CSR reports. The main factor that limits audit firms in the performance of this type of services is the low demand in this regard. Moreover, the audits of non-financial reports are limited by insufficient staff.
CORE INDUSTRY AGGLOMERATION OF DIGITAL ECONOMY AND GREEN TOTAL FACTOR PRODUCTIVITY: EVIDENCE FROM CHINA
(Technická Univerzita v Liberci, ) Li, Ping; Fu, Huiying; Li, Yueyao; Ekonomická fakulta
With the advent of the information age and the development of network technology, the digital economy with digital knowledge and information as crucial production factors has become the core driving force for high-quality green economic and social development. This paper took the exploration of the role of the digital economy as an engine for regional green and high-quality development as the purpose of the study, incorporates the core industry agglomeration of the digital economy into the analysis framework of green total factor productivity (GTFP), depicted the characteristics of GTFP change from the dual dimensions of direct and indirect effects, and analyzed the spatial effects of specialized and diversified digital economy’s core industry agglomeration on the impact of GTFP using data and spatial measurement models of 25 provincial-level regions in China from 2003 to 2019. Results show that both the specialized digital economy’s core industry agglomeration and the diversified digital economy’s core industry agglomeration can significantly improve GTFP, and both have significant spatial spillover effects. At the same time, the impact of the digital economy’s core industry agglomeration on GTFP is spatial heterogeneity. GTFP in the eastern region can be significantly enhanced by the digital economy’s core industry agglomeration, and the specialized digital economy’s core industry agglomeration has a significant negative spillover effect on GTFP in the eastern region. In the contrast, GTFP in the mid-western region can be significantly enhanced only by the specialized digital economy’s core industry agglomeration, and the digital economy’s core industry agglomeration has no significant spatial spillover effect on GTFP in the mid-western region. The obtained conclusions reveal that each region should reasonably establish a cluster model of core industries in the digital economy to facilitate the green development of the regional economy.
WHAT DO MEMBERS EXPECT FROM CLUSTER MEMBERSHIP? THE CASE OF THE CROATIAN WOOD CLUSTER
(Technická Univerzita v Liberci, ) Anić, Ivan-Damir; Rašić, Ivana; Aralica, Zoran; Ekonomická fakulta
The purpose of this paper is to investigate the composition of services and firms in a wood industrial cluster based on members’ interests and examine the differences among the groups. Since firms have very different interests when joining the cluster, this paper develops the taxonomy of cluster members based on their expectations regarding services and investigates the differences and similarities among groups in firms’ characteristics, their resources, innovative activities, the performance of firms, and perceived cluster performance. The data collected from members of the Croatian wood cluster were explored using factor and cluster analyses. The results revealed three categories of services that the cluster should provide: 1) lobbying; 2) facilitation of networking and cooperation; and 3) supporting joint logistics and joint access to the market. Four groups of members were identified, named as 1) cooperation and lobbying-oriented; 2) market-oriented; 3) purely lobbying-oriented; 4) purely networking and cooperation-oriented. Group 1 (44% of the sample) scores high on all categories of services. It contains more firms that innovate and more high-growth firms. Members in this group evaluate the effects of the cluster better than the other two groups. The study offers new evidence on the alignment of cluster services with the interests of cluster members, indicating different levels of performance among groups in a small cluster in traditional forest-based industries. The findings can help managers not only in the Croatian wood cluster but also in other similar small cluster organisations in Central Eastern and South-Eastern Europe to use their limited resources more efficiently and enhance the competitiveness and performance of the firms/sector.
CONSUMERS’ PERCEPTIONS OF HEALTH AND FACTORS INFLUENCING FULFILMENT OF THE NEED FOR HEALTHCARE IN EU COUNTRIES
(Technická Univerzita v Liberci, ) Antošová, Irena; Hazuchová, Naďa; Stávková, Jana; Ekonomická fakulta
The paper deals with subjective perceptions of health by individuals. The research aimed at understanding socioeconomic and demographic factors influencing the fulfilment of healthcare needs and at finding out categories of factors that lead to the highest chances of meeting the need in consumer segments formed according to perceptions of their health status. The analyses were based on the EU-SILC database of primary data on the income situation and living conditions of households. In 2017, the database included extra questions on health. The method of cluster analysis was employed. As a result, three clusters of individuals representing EU countries formed depending on the perceived state of health – the authors named the clusters ‘optimistic’, ‘neutral’, and ‘pessimistic’. For each segment, the binary logistic regression was applied to determine categories of factors leading to the highest probability of meeting the healthcare need. The greatest influence over the fulfilment of the need for healthcare has been confirmed for the factor “Sector of economic activity”, followed by the type of economic activity. Some differences were revealed between segments. For example in the third segment, i.e., respondents who rated worst their health, a strong influence of education has been identified. The highest chances of meeting the need for health care are achieved in the first segment by executives, but in the second and the third segment by individuals active in education. On the other hand, craftsmen and workers have the lowest chances. In all segments, the influence of household composition was confirmed, with single households and single-parent households reporting lower chances of meeting their healthcare needs. Respondents who did not feel their healthcare need was met mostly said it was due to financial reasons, long waiting times, or fear of medical treatment.
DETERMINANTS OF CASH HOLDINGS: EVIDENCE FROM BALKAN COUNTRIES
(Technická Univerzita v Liberci, ) Vuković, Bojana; Mijić, Kristina; Jakšić, Dejan; Saković, Dušan; Ekonomická fakulta
The purpose of this paper is to identify the determinants and indicate their impact on the company’s cash holdings in the wholesale industry in ten Balkan countries. Effective cash holdings management is key to any company’s healthy and smooth business operation, so comprehending and analyzing the relationship between the company’s internal determinants and cash holdings is vital. The sample used for this work included 106 companies, whose operations were studied over a four-year period (2014–2017), using the panel data model with fixed effects. The obtained results showed that three of the five observed variables (size, leverage, non-cash liquid assets, profitability and asset tangibility) have a statistically significant impact on the company’s cash holdings. It was determined that larger wholesale companies generally hold less cash, primarily due to more favorable external sources of financing, thus, financially stronger wholesale companies on the Balkans are likely to hold less cash. Only by practicing adequate inventory management and receivables collection policy can wholesale companies ensure effective working capital, leading to the fact that more profitable wholesale companies hold more cash. The realized profit of wholesale companies is used to increase liquidity as well as to stimulate business growth and development. The research results revealed that, in order to achieve an optimal cash holdings level, the observed wholesale companies in Balkan countries tend to constantly balance between profitability and liquidity. This paper contributes to improving the liquidity of wholesale companies in Balkan countries. It also offers wholesale companies assistance in establishing and maintaining an optimal cash holdings policy in order to reduce the potential risk of financial distress enable them to take advantage of all investment alternatives to maximize profit. All stakeholders will benefit from the developed model with significant determinants of the cash holdings policy along with the findings of this paper, especially when making decisions related to the cash holdings policy of wholesale companies and improving the overall business efficiency.

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