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    Does the tax relief for homeownership have effect on household mortgage leverage?
    (Technická Univerzita v Liberci, 2018-03-29) Slintáková, Barbora; Klazar, Stanislav; Ekonomická fakulta
    This article presents results of the analysis of the relationship between the tax relief for the homeownership and the household mortgage debt. The advantageous treatment of housing is provided especially by a personal income tax if owner-occupiers do not report imputed rents as income but can deduct mortgage interest costs. This preferred tax status is justified by the existence of positive externalities and a desire to enhance housing opportunities available to citizens. However, evidence that the housing policy via the taxation achieves its objectives is still weak. Moreover the tax provisions for the homeownership benefit rather higher-income households. Furthermore there are indications that the housing taxation encourages levered property purchases and thus contributes to the household debt growth. Since the household indebtedness can have adverse effects on households and macroeconomic performance we focused on the issue whether the income tax relief for homeowners that finance their dwellings via a mortgage does affect the household leverage. We constructed the variable capturing especially the mortgage interest payments deductibility. We employed the multiple regression and data for the former 15 EU member countries (except Greece) for the period 2004-2013. We estimated two models for two representative taxpayers who vary in a family status using the panel data analysis with fixed effects. From our results we inferred that the income tax relief for the homeownership might not have influenced the mortgage leverage significantly in the selected European countries in the given period. The mortgage debt was affected rather by the economic level, price of own housing, mortgage interest payments or demographic structure.
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    Economic methods used in health technology assessment
    (Technická Univerzita v Liberci, 2018-03-29) Klímová, Blanka; Marešová, Petra; Ekonomická fakulta
    Early decision-making process about the development of a new product is essential for any company in order to gain relevant financial returns and thus prosper. Therefore, managers need to have at their disposal appropriate assessment tools which assist them in their decisions about the development of the new product and guarantee that their product will generate a desirable profit. The purpose of this review focuses on the exploration of the methodology, commonly used in the economic evaluation as part of health technology assessment for medical devices. On the basis of the selected original studies, the authors summarize the main methods used in the decision-making processes about the development of new medical devices and discuss their benefits and limitations. The methods employed in this study include a method of literature search in the databases Web of Science, MEDLINE, and Embase, and a method of comparison and evaluation of the results. The findings of this study indicate that the most preferred methods used in the economic evaluations of medical device development are cost-utility analysis and cost-effectiveness analysis. In addition, the Headroom Method is recommended to be used in the early assessment of the medical device development since it uses broader estimates of potential by determining the maximum reimbursable price of the new device. Selection of each method then depends on the research question, the condition of interest, and the availability of data on outcomes. There is an urgent need to conduct the early assessment of the medical device development in order to avoid negatively high costs and prevent a failure rate at each stage of the development process.
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    Generation X versus Millennials communication behaviour on social media when purchasing food versus tourist services
    (Technická Univerzita v Liberci, 2018-03-29) Dabija, Dan-Cristian; Bejan, Brîndușa Mariana; Tipi, Nicoleta; Ekonomická fakulta
    Knowledge and proper understanding of the needs, expectations, desires, demands, values or preferences of Generation X and Millennials is an essential goal of any company. The mission of marketers is increasingly difficult because they have to develop a marketing mix able to target efficiently all customers, invoking satisfaction and loyal behavior. Communication strategy therefore has a special role to play. While Millennials are easier to target, persuade even influence through social media, Gen Xers are more conservative, preferring to look for additional information about products and companies themselves, which makes the marketer’s job even more difficult. Nowadays, social media plays an increasingly important part in influencing consumers and their consumption behavior. Being able to expand beyond geographical borders, social media creates strong links between consumers in different states and social environments. Research conducted among Gen Xers and Millennials shows that whenever they choose food products and tourist services based on recommendations and the information available on social media, their purchasing behavior depends on their own personal desire to become informed, and the characteristics they expect from a piece of information and from the Internet as a general source of information. Given this, companies changed and adapted their communication strategies in order to be more present online. In addition, for those interested, companies create official pages that can represent a strong support for those interested in acquiring information. Quite often, consumers have the possibility to compare goods and services before buying, minimizing the risks attached to these acquisitions. The results reveal that Millennials have stronger affinity with, and place greater reliance upon online information than Gen Xers. From a managerial perspective, this paper provides retailers with the opportunity to better understand the behavior of customers of different ages, making their targeting more successful.
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    Exploring customer loyalty to fashion brands on facebook fan pages
    (Technická Univerzita v Liberci, 2018-03-29) Novotová, Jitka; Ekonomická fakulta
    This article addresses the subject of building fan loyalty to company Facebook pages. Customer loyalty is a key prerequisite for a company's success in today's globalised world. Companies now use Facebook extensively to communicate with existing and potential customers. The aim of this article is to determine whether Facebook can be used to build customer loyalty to fan pages and whether this loyalty has an impact on loyalty to promoted brands. The research focused on the Facebook fan pages of high street fashion brands (e.g. H&M, C&A and Orsay) and their fans. Research of the literature was used to posit a theoretical model of fan loyalty to Facebook fan pages in connection with loyalty to clothing brands. This model was tested with the statistical method known as structural equations modelling (SEM). The research involved 292 respondents over the age of 18 who have liked at least one high street fashion fan page on Facebook. The results confirmed the validity of the proposed model. It was found that loyalty to the fan page is built through trust and satisfaction with the fan page. It was also demonstrated that loyalty to the fan page has a positive impact on loyalty to clothing brands. Both "loyalties" in this model were measured using the second-order method, which includes both behavioural and attitudinal loyalty. It can therefore be said that communication from companies builds a positive relationship with the fan page / clothing brands and also increases the future frequency of page visits and purchases of branded clothes. Hence, Facebook can be deemed an effective tool for building loyalty.
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    Financial literacy of students in chosen universities – research platform for regulatory processes of educational system in Slovakia
    (Technická Univerzita v Liberci, 2018-03-29) Kubak, Matus; Tkacova, Andrea; Androniceanu, Armenia; Tvaronavičienė, Manuela; Huculova, Eva; Ekonomická fakulta
    The main goal of this paper is to compare the level of financial literacy among the selected faculties of economics in Slovakia and to elaborate a comparison of financial literacy level at both input and output level, i.e. between the university students at the beginning of their Bachelor study and the university students who are in the final stage of their Master study. In addition, we want to analyze the level of financial literacy by means of practical tasks aimed at confirmation or rejection of the prospect theory principles. Concerning methods we statistically process our primary data which were collected through the survey 2015/2016 from Slovak University of economics in Košice, Prešov and Bratislava. Inter alia, we analyze correlative data dependence of selected variables. The survey is focused also on financial behavior of respondents and their skills in terms of financial literacy concept. Last but not least, we deal with features of respondents' financial decision making under the conditions of risk and uncertainty. At first, we show that statistically significant dependency of FL level on respondents’ sex does exist. Male respondents reached higher FL than female ones. Hypothesis of better high school education of economy at Business Secondary School was rejected, rate of financially literate respondents who attended Grammar School or Business Secondary School is comparable. Subsequently, students in their last year of studies at EKF TUKE and NHF EUBA have significantly higher level of FL than those students who are at the beginning of their studies. Contrary, at FM PU the rate of financially illiterate first-year students was lower than the rate of financially literate students in their last year of studies. We found out a correlation of FL with decision-making based on prospect theory. The results of the presented research provide important information for policy makers who should reflect on present status of this issue in Slovakia.