Rok 2016 (ročník 19)

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Attributes contributing to perceived customer value in the Czech clothing on-line shopping
(Technická Univerzita v Liberci, ) Simová, Jozefína; Cinkánová, Ľubica; Ekonomická fakulta
This paper, based on the literature study, presents findings of the research focused on the concept of customer value in on-line shopping for clothes. It examines and identifies attributes of perceived customer value in terms of benefits and sacrifices by applying a multi-attribute model. Customer value concept used in the research was defined and measured in terms of functional and affective dimensions. The perception of selected customer value attributes was measured as customer satisfaction, i.e. as a result of a congruence between the perceived and evaluated reality (benefits and sacrifices offered by on-line shopping), and customer expectations. The attributes evaluated the best were those that contributed to customer satisfaction the most and thus represented important attributes of customer value dimensions. In total, 25 attributes considered to be important for on-line shopping were selected for the questionnaire and explored further in the primary research. A principal components analysis and orthogonal Varimax rotation were used in the analysis to obtain factors that respondents considered to be attributes of the perceived customer value for shopping clothes on-line. The factor analysis identified six dimensions of perceived customer value toward shopping clothes on-line: three factors (web site appearance, shipping and product presentation) are functional and can be attributed to the benefits that customers expect to get when shopping clothes on-line, the other three extracted factors (annoyance, assurance and trust) are affective and risk related ones, and can be labelled as attributes of sacrifice. The number of identified customer value attributes perceived differently by on-line shoppers according to their gender, age, education and shopping behaviour was very low. This means that clothing online market is rather homogenous. The future research will show whether the identified differences will form the base for customer segmentation of the Czech clothing on-line market.
Business intelligence as a key information and knowledge tool for strategic business performance management
(Technická Univerzita v Liberci, ) Rajnoha, Rastislav; Štefko, Róbert; Merková, Martina; Dobrovič, Ján; Ekonomická fakulta
The indicators, methods and models applied in performance management in the past were largely based on financial indicators and financial management methods. Of course, we do not claim that financial indicators are not currently necessary or relevant, but as the business results showed, the management based only on the financial statements is no longer enough. The paper focuses on the presentation of selected research results related to strategic business performance management. With the currently presented issue, we enter an area of research which is not as clearly defined as it was in the case of a traditional financially oriented approach to measuring and managing corporate performance which prevailed in the past. The aim of the paper is to analyse and synthetize findings regarding the chosen, mainly not traditional methods and models, which have started to be used for strategic business performance management. The results of our empirical scientific study provide interesting and valuable findings that the overall performance of industrial enterprises in Slovakia is to be looked at comprehensively strategically and not just in financial terms. Why are some industrial enterprises more efficient than others? What methods and procedures are applied by more efficient companies? The answers to these questions can be found in our paper. We recommend industry enterprises to apply selected methods and models of strategic business performance management. The key tool in increasing the overall performance of the enterprise in the selected Slovak industries seems to be employing a system of strategic performance management, supported by a knowledge-based Business Intelligence Information System.
Characteristic features of project management in small and medium-sized enterprises
(Technická Univerzita v Liberci, ) Kozlowski, Remigiusz; Matejun, Marek; Ekonomická fakulta
The trend of specificity in studies on small and medium-sized enterprises management focuses on the search for characteristic qualitative and quantitative features distinguishing these entities from others, particularly from large enterprises. Research conducted within this trend may concern the general characteristics of small and medium-sized companies, as well as their functional characteristics connected with particular areas of management. One such area of growing importance for today’s organizations is project management. This approach plays an important role in a dynamic, complex and uncertain environment, providing a response to accelerated competition, increased economic pressures, and rapid technological change. Use the project management by small and medium-sized enterprises enables cost reduction and facilitates the introduction of new products and services to the market, primarily including innovative solutions in response to individual and changing client requirements. However, project management should be implemented with consideration for the individual needs and possibilities of specific business entities, including SMEs. Taking this facts into consideration, the goal of the paper is to identify and evaluate select areas related to qualitative characteristics of project management in SMEs. The analysis refers to individual phases of a project life cycle, is of comparative nature, and is based on the results of studies conducted on a sample of 563 small and medium-sized enterprises and 334 large enterprises. The test of the difference between two population proportions was used to identify the areas of project management characteristic to SMEs statistically. Based on the study results, five research hypotheses have been verified concerning the basic goals, role of the owner, inter-organizational cooperation, and limited formalization in the process of project management in small and medium-sized enterprises.
Cognitive-affective model of acceptance of mobile phone advertising
(Technická Univerzita v Liberci, 2016-12-05) Olarte-Pascual, Cristina; Pelegrín-Borondo, Jorge; Reinares-Lara, Eva; Ekonomická fakulta
There are high expectations for mobile phone marketing and mobile advertising. In various European markets, such as the United Kingdom, Spain and Italy, mobile marketing campaigns have registered response rates of up to 47% among their target audience. The main aim of this paper is to validate a cognitive-affective model of acceptance of mobile phone advertising that integrates the utilitarian perspective through the technology acceptance model, the affective dimension through emotions, and the moderating role of the normative reference group (NRG). This model was tested with structural equation modelling in a sample of 612 individuals (R2 of 82.4%). To analyse the moderating effect of the NRG, a sequential cluster analysis was applied, generating two groups of users: independent and influenced. A multi-sample analysis was then performed. The results showed the advisability of considering attitudes towards mobile advertising to be a variable shaped by conceptually complementary cognitive (perceived usefulness and perceived ease of use) and affective dimensions (positive emotions and negative emotions). Positive emotions had the strongest effect on the formation of this attitude. Negative emotions and cognitive dimensions had a few effect for the acceptance of mobile advertising. With regard to the moderating role of the NRG, among independent users, positive emotions affected the attitude more intensely and a stronger positive relationship was found between this attitude and the intention to receive advertising. No differences were found between independent users and users influenced by their NRGs with regard to the formation of attitudes due to ease of use, perceived usefulness or negative emotions. The paper thus provides a comprehensive analysis of the acceptance of mobile advertising that integrates both cognitive-affective views and the moderating role of the NRG with implications for management.
Comparative assessment of external costs and pollution taxes in Baltic States, Czech Republic and Slovakia
(Technická Univerzita v Liberci, 2016-12-05) Štreimikienė, Dalia; Ališauskaitė-Šeškienė, Ilona; Ekonomická fakulta
External costs are the main market failure. Pollution taxes and other flexible market instruments are applied to internalise external costs of atmospheric emissions. Subsidies to renewable energy technologies in the form of Feed-in prices are also applied to internalize positive external benefits associated with use of renewable energy sources for energy generation as these technologies have lower life-cycle emissions of classical pollutants and GHG emissions in comparison with fossil fuel based energy generation technologies. The paper reviews and compares external costs of atmospheric pollution and pollution taxes in Baltic States, Czech Republic and Slovakia and assesses the level of internalization of external costs and their impact on atmospheric emissions of classical pollutants in these countries. The literature review allows generalizing results of external costs assessment and their internalization issues. The paper analyses and compares external costs of atmospheric pollution in Baltic States, Czech Republic and Slovakia together with atmospheric pollution taxes and other policy measures used to internalise external costs of atmospheric pollution in Baltic States and Czech Republic and Slovakia. The analysis of trends of atmospheric pollution by classical pollutants in Baltic States and Czech Republic and Slovakia is provided and policy recommendations based on the main findings of analysis conducted were developed.
The cooperation between enterprises: significant part of the innovation process – a case study of the Czech machinery industry
(Technická Univerzita v Liberci, ) Stejskal, Jan; Mikušová Meričková, Beáta; Prokop, Viktor; Ekonomická fakulta
In recent years, we have been able to see the growing importance of knowledge in the context of the emerging knowledge-based global economy. It is commonly accepted that (i) innovations are brought forward through an interactive process of knowledge generation, diffusion, and application; (ii) innovations are increasingly seen as fundamental to the competitiveness of enterprises and economies; and (iii) knowledge is critical to the process of innovation. The relative importance of cooperation on innovative activity varies and depends upon a number of factors, i.e., the number of cooperative ties and the context in which network relations exist. The determinants of R&D cooperation differ depending on the types of cooperation: (i) the positive impact of enterprise size, R&D intensity, and incoming source-specific spillovers is weaker for competitor cooperation, reflecting greater concerns about appropriability and (ii) institutional spillovers are more generic in nature and positively impact all types of cooperation. The question is the effectiveness of different types and subjects of cooperation. This article aims to analyze the impact of (i) the cooperation and participation in the group of enterprises; (ii) cooperation with universities; (iii) the provision of state aid; on overall enterprises' performance. Analysis was performed on data from Community Innovation Survey (CIS) carried out in the Czech Republic between the period 2010-2012 by using own multiple linear regression models. The results confirm the importance of cooperation between enterprises and the positive impact of participation of enterprises in the enterprise groups. Cooperation with universities and research organizations also has a positive impact on the performance of enterprises in the machinery industry in the Czech Republic. We also show that there were inefficient provisions of public aid in machinery industry in the Czech Republic.
Coverage of financing deficit in firms in financial distress under the pecking order theory
(Technická Univerzita v Liberci, 2016-12-05) Sanfilippo-Azofra, Sergio; López-Gutiérrez, Carlos; Torre-Olmo, Begoña; Ekonomická fakulta
The financing decisions adopted by firms in financial distress are very important because most of the strategy decisions such as investments, market entry, or product diversification are considerably affected by the financial constraints faced by them. However, these decisions are still not well known and empirical evidence about firms in financial distress is controversial. Previous studies do not find support for either the trade-off theory or the pecking order theory, which explain the financial decisions of healthy firms. Distressed firms frequently have to use all of their available financial resources to cover their financing deficit. This could give rise to a concave quadratic relationship between financing deficit and net debt issued, which might well explain the ambivalent results about the financial decisions of these firms. To analyze this quadratic relationship, which has not been studied previously, we perform an empirical analysis on a sample of 3,337 listed firms from Germany, Canada, the United States, France, Italy and the United Kingdom. Our results show that the pecking order theory does not appear to have a higher explanatory power in healthy firms. Moreover, the hierarchy suggested by the pecking order theory is not totally applicable in firms in financial distress. Our results show that as financing deficit grows, these firms use debt decreasingly, which gives rise to a concave quadratic relationship between financing deficit and net debt issued. This suggests that firms in financial distress have difficulty issuing new debt. Our results also show that firms in financial distress have a greater probability of issuing equity. Therefore, these firms can use equity financing as an alternative to debt issuance.
Decomposition of unemployment: the case of the Visegrad group countries
(Technická Univerzita v Liberci, ) Tvrdoň, Michal; Ekonomická fakulta
Generally, output measured by real gross domestic product declines and the unemployment rate rises during the economic crisis. This relationship was confirmed in the past several crises. However, the impact of economic downturns on structural unemployment will depend on many factors. The aim of the paper is to decomposite unemployment and we try to estimate the rate of structural unemployment. We also made an effort to determine the effects of the crisis on economic performance and functioning of the labour market in the Visegrad group countries. The analysis showed considerable sensitivity of these economies to the development of the external environment (except Poland), mainly through an export channel – the most affected was an industry sector, especially automotive industry. It seems to be important to have more diversified structure of the economy, mainly the exports. Quarterly data from the Eurostat LFS database in the period between 2000 and 2014 were applied. In order to estimate the trend of the unemployment rate´s development was used Hodrick-Prescott filter. Data show that all observed economies recorded a low unemployment rate in a pre-crisis period and they had to face worsened labour market performance during and after the crisis. Our results suggest that structural component seems to be the most important component of total unemployment. Moreover, it has decreased in these countries, except Hungary. We also compared our approach with an OECD approach which is based on employment of Kalman filter. Results suggest that both methods, although they are based on different processes, lead to analogous results.
Designing modern informatics education for future managers and advanced users according to their knowledge base
(Technická Univerzita v Liberci, 2016-12-05) Révészová, Libuša; Ekonomická fakulta
The main question we are dealing with is how to teach/educate the future managers – advanced users of business informatics, ICT and information systems. As a very important step in determining the content and method of teaching we consider an evaluation of the knowledge base of students who enter the first year at the Faculty of Economics Technical University of Košice. In the first seminar in subject called Informatics I students fill in questionnaires which are focused on their general knowledge of informatics/computer science and basic terms of IS. In the paper we present evaluation of our questionnaire survey in the period 2003-2014. Conclusions formulated in the paper are directly relevant for teaching realized on the Faculty of Economics, Technical University Kosice. In the process of questionnaire creation we drew from generally valid documents for secondary schools in Slovakia. In the sample of respondents there were mostly graduates from Eastern Slovakia Region therefore this allows us to assume that knowledge base and ICT competences on the other faculties especially in our region with non informatics focus would copy the described trends. We also present our innovative manner of informatics education based on modeling, simulation and on a well known opinion that “no kind of teaching can replace the personal experience". As a dominant form we use problem-oriented project teaching. Students find themselves in a position of a manager of a virtual company, at project of specifying users’ requirements The paper deals with the experience in teaching, we present recommended structure of the user requirements project and we also discuss the body of knowledge and methods which have been implemented into the subject Informatics II. In the proposed innovative way of teaching we are trying to transform solving problem process into an active process of cognition.
Diagnosing organizational culture in national and intercultural context
(Technická Univerzita v Liberci, ) Vetráková, Milota; Smerek, Lukáš; Ekonomická fakulta
Formation of companies with multinational management that act within multinational and transnational corporations is a result of the globalization process. The change in organizational culture and management system is caused by the global environment. Companies’ management is changing from ethnocentric and polycentric to management without borders. To achieve greater efficiency in competing in the global market is the reason for this change. The management system is complex, because it is based on international cooperation and consists of international managerial teams. The level of intercultural socialization and our cultural awareness are predicted by the comparison and confrontation of differences in organizational culture and human resources development. The paper is focused on diagnosing of organizational culture in organizations operating in Slovakia. The survey was conducted in 236 medium and large enterprises in Slovakia. Personnel or senior managers responsible for the level of organizational culture and human resources development in enterprises were the respondents. The assumptions about possibility of diagnosing the types of organizational culture in selected Slovak enterprises with and without foreign participation were confirmed. Pros and cons of different organizational culture types in the development of human resources were identified. We observed that hierarchical and clan cultures are the most common ones in Slovak enterprises. While hierarchical culture occurs in enterprises with no foreign participation, clan and market-oriented culture is strongly represented in enterprises with international participation. The results of organizational culture examination were confronted with the opinions of experts using the Delphi method leading to increasing the validity and reliability of the primary findings. Such opinions suggest links between the management of Slovak enterprises and national history and culture. Focus on flexibility, mutual communication, profitability and competitiveness is set in enterprises with international participation with influences of different cultures.
Diagnostics of management culture in order to implement the concept of a socially responsible company: the case of a concern
(Technická Univerzita v Liberci, ) Vveinhardt, Jolita; Andriukaitiene, Regina; Ekonomická fakulta
While implementing corporate social responsibility (CSR) in practice, it is necessary to evaluate the management culture of the organization, which is the instrument and the indicator of the initial position of implementation the CSR. The article substantiates the level of the management culture and corporate social responsibility problems explored in the works of authors. The relatively great lack of scientific literature on the topic of management culture, therefore, this article presents the authors analysing the components of management culture. Theoretical and empirical research involves relatively different contexts of corporate social responsibility topics from managerial transformations to corporate social responsibility approach in the aspect of national traditions and international influences. The aim of this article is to determine the level of management culture in order to implement the conception of a socially responsible company in the case of manufacturing companies’ group. So in order to implement the set aim the survey was carried out in 2013. The authors’ formed the questionnaire ‘Determination of management culture level for the implementation of the conception of a socially responsible company’ and used it for the survey. The empirical study was carried out in one of the Eastern Europe manufacturing concerns registered in Lithuania. The concern wished to remain anonymous; and 885 employees worked in it during the investigation period, i.e. 91 percent of all employees. When presenting the results, the demographic characteristics of the respondents are detailed according to: company’s group divisions, currently occupied positions, work experience, age, gender, education. The results of the empirical research show that management culture is related to the level of social responsibility perception within the organization. The reaction of the organization employees towards the management culture shows the directions of its changes.
Do the data on municipal expenditures in the Czech Republic imply incorrectness in their management?
(Technická Univerzita v Liberci, 2016-12-05) Půček, Milan; Plaček, Michal; Ochrana, František; Ekonomická fakulta
Limited public resources confront public administration bodies with the question of how to handle them in an economically rational manner. Audit of public expenditures necessitates an ongoing creation and modification of an effective control system. Such a system is made up by subsystems of a formal (accounting and documentation) and economic control, responsible for monitoring the efficiency, effectiveness and economy of managing public expenditures. Significance of such interconnection rests in the fact that the formal control may signal possible improper management of public expenditures. This may become a stimulus for the economic control subsystem to verify the effectiveness, efficiency and economy of outlaid expenditures. For identification purposes related to potential accounting and record-keeping incorrectnesses in the management of public expenditures is proposed adoption of Benford’s Law (Benford’s test). Benford’s test is applied on municipal expenditure data for the year 2012. Data represent sums of public expenditures in the structure of the statement of budgetary execution and control specified by the Regulation of the Ministry of Finance of the Czech Republic No. 323/2002 Coll. For the data analysis there were used statistical methods, hypothesis testing, linear regressions and comparisons. Although the empirical analysis points at a limited use of Benford’s test in the conditions of municipal expenditures in the Czech Republic (mainly due to the instability of results and unavailability of suitable data), the analysis showed that Benford’s test can be adopted as a supporting tool, suitable for building into the control system of public expenditures. It is one of the ways to increase the effectiveness of a complex control of public expenditures.
Evaluation of measures to reduce employee turnover in Slovenian organisations
(Technická Univerzita v Liberci, ) Buzeti, Jernej; Klun, Maja; Stare, Janez; Ekonomická fakulta
This paper provides an estimate of the costs of reducing employee turnover and an estimate of the costs of employee turnover in Slovenian companies. The study included all economic activities, and in this respect it is one of the few studies that focus on the complete economy of an individual country. The study estimated two groups of costs; namely, the costs of employee-preferred measures for reducing employee turnover rates in organisations and the average costs of replacing an employee in an organisation. When evaluating the costs of employee-preferred measures we mainly wanted to evaluate the costs of subsidising informal meetings, bonuses for the continuity of employment and bonuses for workplace attendance. Most other measures preferred by employees are of a non-financial nature, except for promotion, which we did not evaluate specifically as it is primarily part of the company‘s employment and job diversity policy. In estimating the costs of employee turnover we focused only on the costs of hiring a new employee: the cost of replacing an employee and the cost of introducing the new employee. Using several assumptions the estimated total cost of employee turnover in Slovenia ranges from €2.2 million to €3.4 million per year in year 2011.In addition to the estimations of both groups of costs, this paper also provides a comparison of evaluations of selected measures for reducing employee turnover as perceived by employees and employers. We arrived at important conclusions, as it turned out that employers give higher ratings to financial measures, while employees give higher ratings to non-financial measures.
Factors of tourism's competitiveness in European union countries
(Technická Univerzita v Liberci, ) Maráková, Vanda; Dyr, Tadeusz; Wolak-Tuzimek, Anna; Ekonomická fakulta
Tourism is one of the most rapidly blossoming sectors of economy and its economic and social significance is expressed both in numbers (share in GNP, employment) and in a range of as important uncountable characteristics like expansion of a region, more intense development, building the spirit of local communities, actions preventing social exclusion or education of future generations for state progress. A number of countries, provinces and regions have achieved well-rounded social and economic growth by developing tourist economies and a range of necessary supporting measures, including complementary infrastructure, active and well-educated society by organising adequate living standards and fulfilling basic social requirements, etc. It is therefore important to determine factors that improve competitiveness of tourism to maximum extent. The objective of this paper is to evaluate dependences between competitiveness of the European Union member states and selected factors determining competitiveness of tourism in these states. A set of factors determining competitiveness of tourism is introduced, that is, capacity of tourist accommodation establishments, arrivals at tourist accommodation establishments, average expenditure of tourism trips (1 night or over) – domestic trips, average expenditure of tourism trips (1 night or over) – outbound trips, tourism domestic trips (1 night or over), tourism outbound trips (1 night or over) and their impact on levels of competitiveness is determined. Considerable geographical variation of availability of accommodation establishments in the European Union member states and high, statistically significance correlations between availability of accommodation establishments and numbers of tourists arriving in a given states and between competitiveness of the EU states and tourism expenditure are identified.
Failure prediction from the investors’ view by using financial ratios. Lesson from Romania
(Technická Univerzita v Liberci, 2016-12-05) Achim, Monica Violeta; Borlea, Sorin Nicolae; Găban, Lucian Vasile; Ekonomická fakulta
The purpose of our study is to identify which financial indicators have a significant impact on the probability of Romanian companies’ bankruptcy risk from the investors’ point of view by studying the impact on the probability of shares delisting from the stock exchange. The research is conducted on a sample of 16 failed and 21 non-failed non-financial companies listed on the Bucharest Stock Exchange between 2002 and 2012. The Logit analysis is used for identifying the variables that are significant and have predictive power on distress likelihood. By using 12 main financial ratios, we estimate three alternative Logit models for determining their signs, significance, predictive power, efficiency of fit tests. The first model provides the highest explanatory power. Three variables such as Flexibility ratio (FLEX), Assets turnover (ASTU) and Current assets turnover (CASTU) are found to be significant determinants for stock exchange delisting. These three variables provide 52.59% of correct prediction of bankruptcy risk. The percentage for correctly classified observations for the fitted Logit model is of 83.33%. Moreover, this research attempts to reveal the changes that may appear among bankruptcy predictors given that the bankruptcy risk model is developed from the investors’ point of view and not from that of a simple decision-making person. For a stock market investor, bankruptcy already starts at the stage of delisting the company because the investment was strongly compromised, whether or it continues its activity or not. Orientation towards investors when predicting bankruptcy risk is the main element of originality that our research adds to the scientific achievements in bankruptcy, until this moment.
FINANCIAL TRANSACTION TAXATION IN AGENT-BASED SIMULATION
(Technická Univerzita v Liberci, ) Šperka, Roman; Szarowská, Irena; Ekonomická fakulta
The aim of this paper is to investigate the impact of fi nancial transaction taxes (FTTs) on the stability of fi nancial markets. This paper presents an agent-based fi nancial market model and simulations in which agents follow technical and fundamental trading rules to determine their speculative investment positions. The model developed by Westerhoff (2009) was chosen for implementation and was extended by FTT and arising transaction costs. Because FTTs may be defi ned in various ways, this paper defi nes assets as tax objects. The model includes direct interactions between speculators, which may lead them to decide to change their trading behavior and addresses a technical and a fundamental strategy of market participants. The results suggest that the modifi ed model has a tendency to stabilize itself in the long term if fundamental trading rules outweigh the technical trading method. This model could be used when bubbles and crashes occur in fi nancial markets. Asset prices would be stabilized because their value targets near the fundamental value and volatility would also be minimized. Setting FTTs at a low rate for market stabilization is important. If FTTs and consequent transaction costs are too high, then the fi nancial system will destabilize and prices will grow without limit. The model described in this paper explores dependence market stability to the extent of FTTs. However, the model should not be interpreted as a model only for the introduction of FTT, but as a general model of transaction costs’ infl uence on the fi nancial market.
FORMALIZED QUALITATIVE MODELING OF ONLINE TRUST: INTRODUCTION OF THE METHOD AND A DETAILED EXAMPLE
(Technická Univerzita v Liberci, ) Veselý, Štěpán; Dohnal, Mirko; Ekonomická fakulta
The paper presents a simple qualitative model of online trust in the context of e-commerce. Qualitative models use just three values: Positive/Increasing, Zero/Constant and Negative/ Decreasing. Such quantifi ers of trends are the least information intensive. Qualitative models can be useful, since models of online trust include such variables as e.g. Perceived website quality and ease of use (SIT) or Company’s positive reputation (REP) that are sometimes diffi cult or costly to quantify. Hence, a signifi cant fraction of available information about online trust is not of numerical nature, e.g. if SIT is decreasing then online trust is decreasing as well. Such equationless relations are studied in this paper. The model has 13 variables and 32 pair-wise interrelations among them. The set of variables and interrelations was established based on discussions with experts and internet users. The model is solved and 23 solutions, i.e. scenarios are obtained (thus, we reduce a vast set of all “imaginable” scenarios concerning online trust to a manageable list of scenarios). All qualitative states, and the fi rst and second qualitative derivatives of all variables are specifi ed for each scenario. Many modifi cations, upgrades and extensions of the present model are easy within the methodological framework introduced in the paper. Qualitative modeling can be seen as one of the uncertainty calculi, such as fuzzy sets and rough sets, that can be helpful e.g. under information shortage (for example when new website is about to be launched and/or when novel, subjective or diffi cult to measure variables are considered). The paper is self-contained and no a priori knowledge of qualitative modeling is required on the reader’s part.
GREEN GROWTH AND USE OF EU STRUCTURAL FUNDS IN BALTIC STATES, CZECH REPUBLIC AND SLOVAKIA
(Technická Univerzita v Liberci, ) Štreimikienė, Dalia; Mikalauskienė, Asta; Ekonomická fakulta
Green growth is resource-effi cient, cleaner economic growth and more resilient growth without slowing it. “Green growth’’ not only affects the quality of growth, but overall production. In this case, growth results from the investment in the upgrading of the entire production system to environmental and resource-saving processes and products. A prototype of this phenomenon is the climate-friendly ‘‘low-carbon economy.’’ Green growth is expected in implementation of Europe 2020 stratgey and can provide to harminized development and cohesion of old and new EU member states. Europe 2020 is the EU’s growth stratgey based on the growth of smart, sustainable and inclusive economy. The comparative study of green growth indicators and use of EU Structural Funds in 2007–2013 period in Baltics and Czech Republic and Slovakia was performed with the aim to defi ne the role of fi nancing from EU Structural Funds for enhancement of green growth in Baltic States, Czech Republic and Slovakia. The performed comparative assessment revealed that Czech Republic allocated the highest share of means form EU Structural Funds to enhance green growth. In terms of development of green growth indicators Czech Republic is also among the best performing countries following Estonia. The analysis of the use of EU Structural Funds in 2007–2013 in fi ve new EU member states indicated that the EU Structural Funds has positively infl uenced the development of RES in Baltic States, Czech Republic and Slovakia. The increase of renewable energy capacities in Baltic States, Czech Republic and Slovakia also contributed to the reduction of carbon intensity of economy, reduction of environmental pollution, climate change mitigation and energy import dependency.
A grey multi-objective linear model to find critical path of a project by using time, cost, quality and risk parameters
(Technická Univerzita v Liberci, ) Mahdiraji, Hannan Amoozad; Hajiagha, Seyed Hossein Razavi; Hashemi, Shide Sadat; Zavadskas, Edmundas Kazimieras; Ekonomická fakulta
A project is a series of related activities which are organized to reach a defined goal or satisfy a certain need. Project management plays an important role in different fields of human life. The amount of resources spent on a project renders management of these resources a sensitive task. Determinant factors’ influencing the payoffs of a project mainly encompasses time, cost, quality and also the risk of each activity. Therefore, a critical path method is presented to find the longest path of a project completion time in order to draw managers’ attention to the critical activities. Critical path method is a well-known and widely accepted method to find the critical activities of a project and to concentrate on them for accomplishment of the project without any deviation. Classical critical path methods usually consider only a time factor, but growing complexity and importance of projects entail cost, quality and risk as the critical factors to be considered in project management. Due to the unavailability of certain information relating each factor of each activity, considering a novel approach to deal with such vague and unstable situations is really a controversial issue. Thus, another challenge of the project management contains uncertainty for approximating time, cost, quality, and risk factors of the project activities. Taking into account these two challenges, a grey multi-objective critical path model is proposed in this paper, where parameters of the activities are evaluated as grey numbers, dealing with their uncertainty. Meanwhile, a goal programming based method is illustrated to solve the problem of critical path identification, considering four considerable criteria including time, cost, quality, and risk. Eventually, a numerical example is represented to address applicability of the proposed method.
GROWTH DISPARITIES AMONG REGIONS OF THE VISEGRAD GROUP COUNTRIES: AN EVIDENCE OF THEIR EXTENT AND NATURE
(Technická Univerzita v Liberci, ) Zdražil, Pavel; Applová, Petra; Ekonomická fakulta
The deepening of regional disparities is an issue of increasing importance that has been systematically emphasized in the EU policy, especially since the process of “Eastern Integration” has started. The paper focuses on the Visegrad Group countries whose regions are less developed in the EU context. The aim of the research is to assess the development of disparities in regional economic performance of the Visegrad Group countries, to identify how the factors of economic growth determine these disparities, and partly to assess whether the integration of the Visegrad Group countries into the EU infl uenced the development of regional disparities in these countries. For the analysis of disparities during 2000–2013 we selected an approach of measuring real convergence (sigma-convergence). Disparities were measured in the context of a breakdown of the GDP per capita into sub-components, refl ecting on the development of disparities in productivity and employment. The results show that, although regions of the Visegrad Group countries converged towards the EU average and also in terms of the Visegrad Group as a whole, regional disparities within countries rather increased. This led to a paradox where, although the objective of reducing regional disparities across the EU was satisfi ed, from a national perspective disparities increased. The Labour productivity factor, with its dominant yet steadily growing contribution, is the main determinant of disparities in the performance of the Visegrad Group regions. Other sources of disparities are characterized by a stable development or convergence. Only Polish regions deviated from the general conclusions, since the extent of disparities among them grew constantly, and the nature of disparities was the Labour participation rate. In terms of the impact caused by accession into the EU, the measured changes were rather minor and the identifi ed trends had mostly been in place before the Visegrad Group countries entered the EU.

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