Rok 2022 (ročník 25)

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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.
APPLICATION OF AGILE MANAGEMENT APPROACHES IN SELECTED AUTOMOTIVE COMPANIES IN LIBEREC AND CENTRAL BOHEMIAN REGIONS
(Technická Univerzita v Liberci, ) Revutska, Olga; Antlová, Klára; Ekonomická fakulta
Dramatic changes caused by the rapid spread of the COVID-19 pandemic have emphasized the strategic importance of business agility. Companies around the globe are accelerating their agile transformation to succeed within the contemporary dynamic and complex business environment. This includes both instrumental and cultural changes. It is becoming increasingly clear that agile principles and approaches are no longer exclusively used by IT companies; it is spreading across other business functions and industries. Secondary data analysis confirms a strong ambition of companies towards becoming agile. This paper examines the extent, benefits, and concerns of using agile methodologies by selected automotive companies in the Liberec and Central Bohemian regions of the Czech Republic. The in-depth interviews provide a better understanding of the lower agile maturity of the surveyed companies compared to global statistics. None of the surveyed automotive manufacturers assessed their agile maturity at a high level, nor did they consider agile transformation an urgent strategic priority. Research and Development, Program and Project management stood out as the most agile business functions. At the same time, respondents are clearly aware of the need to increase flexibility and the ability to respond quickly to market changes. Some of the surveyed companies have already successfully incorporated Lean, Kanban and Scrum into their operating models, which are the basics of agile. The primary research findings, combined with secondary data analysis, enable recommendations for those pursuing agile transformation. The paper means to stimulate further in-depth research on the agile management approaches in the manufacturing environment.
BROWNFIELDS AND GREENFIELDS ASSESSMENT METHOD IN RELATION TO VALUE POTENTIAL AND EFFICIENT USE
(Technická Univerzita v Liberci, ) Dvořáková Líšková, Zuzana; Sagapova, Nikola; Buchtele, Roman; Ekonomická fakulta
Brownfields and greenfields are examples of areas that report partial, however rather significant changes in the spatial organization of localities of economic and sometimes social changes. A large part of them emerged in areas originally used for industrial production and other economic activities, including former agricultural primary production. In the case of investor interest and with the support of the public sector, they can be transformed back into an area of growth and prosperity; which is discussed as the main motivation for writing the paper. The cost of reusing of such areas is in many cases very high and it is therefore necessary to find a suitable methodological tool to assess the suitability of revitalization and cultivation. The paper presents a newly proposed method for evaluating brownfields and greenfields in terms of their value potential and the way they can be further effectively utilised. Practical verification of the method was carried out at two localities (a brownfield in the village of Želeč and a greenfield in the village of Vidov) from the South Bohemian Region. Both test sites were comparable in terms of their possible future use (e.g., housing, civic amenities, greening). The potential of the tested sites was determined by means of the preference index and the most effective solutions for both areas of interest were proposed. Both localities could be interesting for investors, entrepreneurs and people with higher income. The obtained results demonstrate the suitability of the proposed method for the evaluation and decision-making on the further use of brownfields and greenfields in the Czech Republic.
CLASSIFICATION OF COMPANY LIFE CYCLE STAGES: AN AUTOMOTIVE INDUSTRY IN THE CZECH REPUBLIC
(Technická Univerzita v Liberci, ) Slavíčková, Jana; Slavíček, Ondřej; Ekonomická fakulta
Company life cycle models have been the focus of researchers’ attention for decades, resulting in numerous definitions and determination of stages. Managers are striving to make appropriate strategic decisions at the right time to maximize opportunities linked to various life cycle stages. Assessing a company’s life cycle and determining the stage of the cycle allows us to predict a company’s future development and to prevent crises or even the company’s early termination. In recent years, there has been increased interest in the life cycle assessment of products. However, as a corporate life cycle is longer than that of a product, it still definitely deserves attention – mainly in the field of quantitative criteria. The aim of this paper is to propose quantitative variables to determine a company’s life cycle following two requirements: (1) the variables are derived from publicly available financial statements; and (2) the classification method is suitable for a large sample size including non-listed companies in the stock exchange. Our study shows that our three variables (capital expenditures, return on equity, and sales growth) are suitable for stage classification for each firm-year under the condition of following several steps: counting industry quintiles and/or definition of boundaries, score assignment to stages, designing composite score and sample selection. Based on descriptive statistics of each life cycle stage it is possible to assess the variables used in the context of the further strategic direction of the company. To determine the persistence of enterprises in the defined stages, a transition matrix for the four future years was performed, which showed that companies in the growth and maturity stages will be sustained in these two phases in the vast majority of cases. Finally, we discuss the limitations of the study and further research directions.
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.
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.
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.
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.
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.
COVID-19 AND DIVIDENDS: EVIDENCE FROM POLAND
(Technická Univerzita v Liberci, ) Gemra, Kamil; Kwestarz, Piotr; Rogowski, Waldemar; Lipski, Mariusz; Ekonomická fakulta
This paper aims to examine the impact of an unexpected change in the level of dividend caused by the coronavirus (COVID-19) pandemic on share prices on the Polish stock exchange. Our article analyses the period from 1 February 2020 to 5 June 2020, which was when companies listed on the primary market of the Warsaw Stock Exchange (WSE) published information about Boards of Directors’ dividend recommendations for 2019. The original group of companies included 140 firms. 56 companies (40%) fulfilled all the study criteria, and these were subsequently divided into 2 groups. The groups were defined by the recommendations on profit distribution. The first group consisting of 38 companies (68% of the surveyed) consisted of firms which unexpectedly announced plans to retain all profits in the company or a dividend payment but with a lower value than in the previous year (cancellation or reduction of the dividend amount). The second group of 18 companies (32% of the surveyed) comprised those which unexpectedly announced willingness to pay a dividend per share at a higher level (increase in dividend amount). The research confirmed that the announcement of a change in the level of the dividend or the cancellation of the payment of profit is essential price-creating information on the Polish securities market and has a significant impact on the share prices. In a situation of uncertainty caused by external factors, such as the coronavirus pandemic, the sensitivity of individual companies to lockdown and uncertainty as to the return to normality have a significant negative impact on the market. They cause a fall in the share prices higher than expected, especially when they are accompanied by a shortage of information from the companies and a recommendation to suspend or reduce dividend payment.
DEMAND FOR EMPLOYEES’ DIGITAL SKILLS IN THE CONTEXT OF BANKING 4.0
(Technická Univerzita v Liberci, ) Mazurchenko, Anastasiia; Zelenka, Martin; Maršíková, Kateřina; Ekonomická fakulta
Digitalisation and technical development in the financial service sector have aimed to secure, increase the quality, and satisfy the interests of both customers and financial institutions in the current turbulent era. Together with this situation, there is a need to develop digital employees’ competencies in the financial sector. This paper aims to analyse the topical issue of digitalisation and demand for employees’ digital skills in connection with the COVID-19 pandemic situation based on global secondary data and primary data collected by the authors in the Czech Republic. The main research objective of the paper is to provide a theoretical framework for digitalisation and its drivers in the financial sector, introduce the phenomenon of Banking 4.0 concerning the required competencies, and identify gaps and barriers for faster and more effective development based on the literature review and selected primary and secondary and data analysis. Descriptive statistics and Spearman’s rank correlation coefficient have been used to fulfil this goal. A semi-structured in-depth interview with three human resources (HR) specialists of a selected Czech bank also has been conducted. The paper brings an overview of the latest research studies in the field of digital competencies in general and specifically in the financial sector. Although the primary data is limited in scope (i.e. ten middle-sized and large financial and insurance companies), it provides a unique view of the situation with digitalisation in financial institutions. It shows current developments, trends and barriers within the example of a bank case study. The paper is motivated by the current situation in the banking sector in connection with digitalisation. It aims to emphasise the growing influence of digital technologies on employees, managers and companies, and the importance of systematically implementing digital skills development approaches on the companies’ strategic level.
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.
DIFFERENCES IN THE CAPACITY OF ADOPTION OF THE ENABLING ICTs FOR INDUSTRY 4.0 IN CHILE
(Technická Univerzita v Liberci, ) Gatica-Neira, Francisco; Ramos-Maldonado, Mario; Ekonomická fakulta
In the context of the Fourth Industrial Revolution this paper analyzes the factors that explain the degree of diffusion of some Information Technologies (ICTs) enabling Industries 4.0 in Chilean companies. In this group we find technologies such as: Big data, RIFD (Radio frequency identification), Cloud computing, ERP (Enterprise requirements planning), CRM (Customer relationship management), SCM (Supply chain management) and Computer security. Through the analysis of clusters, orderly logistic regression and decision tree, based on 2,081 companies reported in the Survey of Access and Use of Information Communication Technology (ICT) in Companies 2018 (MINECON, 2020). It is concluded that there is an important difference in technological adoption based on size from the volume of sales and the amount of direct labor. It is also noted that companies that subcontract and at the same time have ICT professionals are more likely to invest in this type of technology. We detected a “technological staggering” where companies begin by incorporating Cloud Computing and ERP and then increase in the number and complexity of the technologies used, achieving greater synergies and benefits in digital transformation. It is necessary to implement mechanisms for monitoring technical change to generate public policies aimed at leveling technological adoption in small and medium-sized enterprises. This work provides a global and intersectoral view of the process of diffusion of enabling technologies for Industry 4.0 through multivariate analysis techniques and data science, being a contribution to what is currently worked on focused on the study of business cases, on the monitoring of a specific technology or on an analysis of a specific productive sector.
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.
DO LINKS TO TAX HAVENS AFFECT COMPANIES’ FINANCIAL PERFORMANCE? THE CASE OF SLOVAKIA
(Technická Univerzita v Liberci, ) Elexa, Ľuboš; Ištok, Michal; Šlampiaková, Lea; Ekonomická fakulta
This paper aims to quantify the impact of direct equity ownership links between Slovak companies and tax havens. We distinguish between three types of tax haven: onshore, midshore and offshore. The financial impacts are measured by indicators of profitability (ROA); activity (total asset turnover); liquidity (current ratio); and bankruptcy (IN05). To measure the impacts, we link the Bisnode and Finstat databases. The first database lists those Slovak companies that had links with tax havens during 2005–2015. The second provides financial statements for all Slovak companies. It was found that: 1) There are statistically significant differences in all investigated indicators between Slovak companies with and without links to tax havens. Those with links to tax havens generally reported worse economic situations and levels of performance compared to those without such links. We conclude that having a parent company resident in a tax haven had a negative effect on financial performance. 2) There are statistically significant differences between the selected indicators of company performance, across the different categories of tax haven, and for companies with no links to tax havens. 3) Those with no such links show statistically significant correlations between all their examined performance indicators. But for those companies with links to tax havens, the only statistically significant correlation was between profitability and the remaining indicators. 4) Companies with ownership links to tax havens are clearly engaged in profit-shifting activities. The results suggest opportunities for follow-up projects, especially focusing on different industries and company size that could specify their heterogeneous approaches and variability in objectives.
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.
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.
AN EMPIRICAL STUDY TO INVESTIGATE THE COERCIVE MANAGEMENT BEHAVIOR: EVIDENCE FROM ACADEMIA
(Technická Univerzita v Liberci, ) Eivazzadeh, Niusha; Nadiri, Halil; Ekonomická fakulta
The current study aimed to investigate the relationship between compulsory citizenship behavior and turnover intention of academics in Iranian universities. The effects of other components, such as the perception of organizational justice and psychological security, on this relationship were tested as mediators. Moreover, some demographic elements were considered as controlling factors. The nonprobability convenience sampling method used to collect the data, which were analyzed statistically by applying CFA and structural equation modeling (Path Diagram followed by the maximum likelihood estimation method). It was determined compulsory citizenship behavior increases the academics’ turnover intention in Iranian universities while mediation elements, such as organizational justice and psychological security, reduce this negative consequence. The result shows that reducing the negative influence of CCB in the organization causes less percentage of turnover intention. Rising the employees’ perception of organizational justice and their psychological security, is helpful for the administration to achieve this goal. Findings notify managers that (1) fairness in all work-related outcomes and (2) making the working environment psychologically secure decreases the academics’ intention to leave although they feel the pressure of doing extra-role duties. The most interesting finding is that psychological security held a substantially stronger effect on reducing the negative consequences of CCB than organizational justice. For organizations and managers, the emphasis should be on preparing work environments supportive of high organizational justice and employees’ psychological security to maintain turnover intention at its lowest levels. Regarding the compatibility of the study with the Journal focus, we can mention that results will allow HR practitioners a better understanding of essential factors they have to focus in their leadership style and management efforts to reduce the financial and spiritual costs of turnover intention.
ESSENTIAL FACTORS FOR BUILDING CUSTOMER RELATIONSHIPS ON FACEBOOK: EVIDENCE FROM THE CZECH REPUBLIC
(Technická Univerzita v Liberci, ) Bartók, Ottó; Matošková, Jana; Ekonomická fakulta
E-commerce has become an integral part of the modern age. The behaviour of e-commerce customers has some specifics, which is useful for firms to understand. As customers’ trust and willingness to accept risk influence the decision to buy a product in e-commerce, it is evident that some unique factors must be in e-commerce which is needed to pay attention to be a successful seller. One of the trends affecting how to manage relations with customers is the use of firm profiles on social networks. This paper identifies factors related to the company’s Facebook profile that influence customer Satisfaction and Loyalty in e-commerce. Furthermore, non-traditional factors such as Self-efficacy or Data security are used. The study provides a primary basis for further research in this area. Data collection was done among e-commerce customers using a questionnaire survey (n = 602). For data analysis, structural equation modelling (SEM) was used. The determined construct contained a total of 9 variables. The findings confirmed that the following factors affect customer satisfaction and loyalty: the perceived usefulness and the amount of information on the Facebook company profile, the perceived Credibility of information given on this profile, the Data security offered by the social network, customer Self-efficacy and Ease of use of the given social network. The results supported the idea that it is possible to build relationships with customers in e-commerce via social networks. To offer credible information in an adequate frequency on the company profile is essential. Furthermore, it is helpful to consider customers’ perceived safety and Self-efficacy, which have also proven to be important in the online environment. These results can serve business practice.
EVALUATION OF THE FINANCIAL HEALTH OF FOOD RETAIL OUTLETS IN A MARKET ENVIRONMENT. A CASE STUDY FROM THE SLOVAK REPUBLIC
(Technická Univerzita v Liberci, ) Hudáková Stašová, Lenka; Ekonomická fakulta
In this paper, food retail stores are evaluated. The aim of the survey is analysis of their financial health using appropriate statistical methods, to analyse the market position of businesses, to identify weaknesses in businesses that may contribute to a poor financial situation, to compare the results obtained and to submit proposals to improve the current financial health of businesses. The analysed sample is made up of a selection of 50 Slovak businesses. The companies operate in the same economic and political system, with similar monetary, customs, tax policy from the government. 4 ratio-based financial analysis indicators were selected as representative (return on assets, return on sales, debt ratio, equity ratio). Multicriterial evaluation methods were used to research the position of businesses on the market (the simple unweighted rank method, the fictional point method, the standardized variable method, the scoring method). We showed the correlations of the methods using Spearman’s rank correlation coefficient. We found the highest correlation in values between the scoring method and the distance from the fictional point method. However, in all cases, by statistical calculation, we found that there is a strong statistically proven relationship between all the methods used. The degree of indebtedness of a business significantly affects its financial health and the structure of the finances. The lowest value for the debt ratio in the monitored sample of businesses is 12.5%. In the group of the worst performing companies, the debt ratio climbed far above the recommended values of 50–70%. The extreme value was a debt ratio as high as 106.3%. We consider the proposals we present to be universal, applicable in other countries in the given sector.

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