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COMPARISON OF CREATIVE ACCOUNTING RISKS IN SMALL ENTERPRISES: THE DIFFERENT BRANCHES PERSPECTIVE

Zita Drábková, Martin Pech

Importantly, accounting is the mirror of all business activities undertaken by enterprises. Financial statements constitute an important source for decision-making by a wide range of internal and external users. The basic concept of accounting reports, which should provide reliable information for users, is the provision of a true and fair view of the situation and structure of assets, financing sources thereof, the structure of the equity capital and the enterprise’s financial state. Needless to say, accounting requires highly qualified expertise from its processors. The relevant accounting frameworks of the Czech accounting standards, Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IAS/IFRS) allow for a selection of accounting methods, assessments and estimates of certain accounting phenomena and processes. This approach is further supported by frequent changes of and amendments to accounting standards.
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RESEARCH ON THE MACRO NET FINANCIAL ASSETS VALUE EFFECT OF MONETARY POLICY

Xiaoting Wang, Peilong Shen, Iveta Palečková

The financial crisis is a manifestation of excessive debt, the so-called balance sheet recession (Krugman, 2014). A typical feature of a balance sheet recession is that the business objectives of most companies have been changed from profit maximization to debt minimization due to increased liabilities, and the decline in credit demand prolonged the recession. The continued accumulation of excessive debt burdens as well as an abrupt drop of debt scale may increase the probability of a financial crisis (Cecchetti et al., 2011; Khoo et al., 2017; Jarmuzek & Rozenov, 2019). The countries like Japan, the United States, the United Kingdom, Spain and Ireland experienced severe debt expansion during the crisis (Koo, 2011). Koo (2015) believes that the global economic recession in 2008 is essentially the same as the Japanese economic recession that began in the early 1990s. These phenomena motivated academics and policymakers to examine the cause and policy mitigation of excessive debt.
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GREEN MANAGEMENT IMPLEMENTATION: A CASE OF THE BULGARIAN HOTEL MARKET

Petr Scholz, Lenka Červová, Petr Janeček, Ivica Linderová

Currently, at a time greatly impacted by the COVID-19 pandemic affecting not only tourism but also other areas of business, there is demand for modern and effective trends of increasing profitability and cost-effectiveness, especially considering the fact that revenues in tourism have dropped worldwide by 74%. There is a noticeable pressure on cost reduction throughout society at this time. According to Sangeetha and Rebecca (2020), the green approach can, over the long term, reduce business operating costs while increasing the added value in society. Tourism represents 10% of global GDP and is also responsible for 5% of global CO2 emissions, of which 1% is attributed to accommodation facilities. Accommodation facilities, particularly hotels, are the key element of tourism (Khatter et al., 2021). In this respect, sustainable hotel strategies are primarily intended for maintaining and improving the socio-economic and environmental balance of our planet (Migale et al., 2019).
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TALENT RETENTION IN SLOVAK COMPANIES: EXPLORATIVE STUDY

Radovan Savov, Jana Kozáková, Jan Tlučhoř

TPeople and especially talented individuals are of remarkable interest for many academics in research (Collings et al., 2019; Meyers et al., 2013; Krishnan & Scullion, 2017). The reason is very simple. Human resources are the most valuable resource a company should have. People are movers of each company and create added value. A high commitment human resources strategy leads to a firm competitive advantage (Collins, 2020). Employees play an important role in forming a competitive advantage for the organization. The role of the employees has become pronounced and significant, and it is no longer conventional. They are responsible for the strategic planning and development of the organization (Chakraborty & Biswas, 2019). Nowadays, firms operate in an environment which is characterized by many political, economic, social, and technological changes (Wee & Taylor, 2018).These changes force companies to transform themselves to gain greater prosperity or to survive (Ocasio et al., 2017; Riviere et al., 2017).
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STOCK PRICE PREDICTION USING MARKOV CHAINS ANALYSIS WITH VARYING STATE SPACE ON DATA FROM THE CZECH REPUBLIC

Milan Svoboda, Pavla Říhová

This empirical study deals with the short-term prediction of stock prices on the Czech stock market. Stock movements have been of interest to traders for a long time. Using a wide range of analytical methods, it tries to satisfactorily clarify past and present changes in stock prices. Based on these findings, it attempts to predict the future development of stock prices. Early forecasting allows traders to make capital gains. It is necessary to mention that according to Efficient Market Hypothesis (EMH), stock prices are unpredictable and markets are efficient. This means that the market responds immediately to any new information. This information cannot be predicted, it is randomly sent to the market and therefore the change in the exchange rate is random and the exchange rates perform a so-called ʻrandom walk’. In efficient markets the above-average profits cannot be achieved and according to this theory, other approaches are dysfunctional.
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INCOME TAX PREFERENCE AND R&D INVESTMENTS OF HIGH-TECH ENTERPRISES IN CHINA

Wunhong Su,Yi-Hao Fan

Science and technology contribute 87.5% to economic growth (Solow, 1957). Enterprises, especially high-tech enterprises, largely perform research and Development (R&D) activities. Risks of R&D activities lead to free-riding among enterprises. The income tax preference is preferred to control the free-riding because of reflecting the incentive effect of tax revenue on the economic development (Bronzini & Piselli, 2016). Most industrialized countries implement special income tax incentives to boost the R&D investment of enterprises (Elschner et al., 2011). The additional deduction, accelerated depreciation, and innovation box are common policies (McCutchen, 1993). For instance, Japan issues the schedule of fixed assets depreciation in 1951 and stimulate Innovation of enterprises. Since 2003, OECD countries continually increase incentives for enterprises to the R&D investment. China begins to offer income tax preference to R&D investments of enterprises in the 1990s.
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URBAN MAGNETISM IN THE GLOBAL CITY FRAMEWORK: EXPLORING THE LINK BETWEEN URBAN FUNCTIONS AND POPULATION GROWTH

Jelena J. Stanković, Ivana Marjanović, Saša Drezgić

The competitiveness of cities is most often associated with their economic performances, but there is a growing consensus that other factors must be observed as relevant (Huggins et al., 2014). The performance of modern cities, in addition to hard infrastructure, is increasingly influenced by the availability and quality of social infrastructure (Caragliu et al., 2011). The development potential and competitiveness of the city depend on the quality of social infrastructure, i.e., human and social capital. Human capital is emerging as a major driver of innovation and economic growth. Therefore, attracting highly skilled workers plays a fundamental role in the perspective of cities since the economic progress of cities depends on the knowledge of highly skilled workers (Buch et al., 2017). The impact of population growth on urban areas is multidimensional, in addition to the impact on infrastructure, economy and patterns of social interaction, population growth also affects the environment (Marshall, 2007).
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CONVERGENCE CLUBS OF NUTS3 REGIONS OF THE V4 GROUP

Izabella Szakálné Kanó, Imre Lengyel

The issue of whether there is convergence or divergence between regions in terms of GDP per capita has long been investigated in regional studies. According to the position of neoclassical economics, if factors can flow freely and comparative advantages prevail, the flows of labour force and capital in opposite directions result in convergence in the long term. Less developed countries and regions with accelerated growth converge toward more developed regions. This hypothesis has been tested in several studies, utilising extensive methodology and instruments for the examination of convergence between countries and regions, e.g., absolute and conditional convergence, or beta and sigma convergence (Breinlich et al., 2014; Eurofound, 2018; Ertur & Le Gallo, 2009; Fischer & Stumpner, 2010; Halmai & Vásáry, 2012; Le Gallo & Fingleton, 2014; LeSage & Fischer, 2009).
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THE DEFENSE OF PRICE DISCRIMINATION IN NETWORK AND INFORMATION GOODS MARKETS

Ivan Soukal

There can be found many articles in which price discrimination was swiftly considered as a negative phenomenon, mainly behavioural economy studies. Such studies described it as pricing leading to consumer-detrimental effects and increasing companies’ profits. However, this rule is not as universal as it may seem. The case is more complicated because exceptions do exist, and they are far from rare – software, cell carrier services, real-time stock quotes, electronic newspapers subscription, electric energy supply, payment accounts, books, copyrighted content streaming, file storage, and more. These information and network goods were often treated as any mass-produced physical goods, which is not an adequate approach. The article’s ambition is to contribute to a change. I hope that after reading the article, you would agree that price discrimination in the case of information and network goods should be viewed by different optics.
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TOWARDS AN EFFICIENT APPROACH FOR IDENTIFICATION AND SELECTION OF STAKEHOLDER ENGAGEMENT STRATEGIES: A CASE STUDY

Mohammad Khalilzadeh, Omid Kebriyaii, Jonas Šaparauskas, Natalija Lepkova

Freeman (1984) describes stakeholders as “those groups who can affect or is affected by the achievement of the firm’s objectives”. “Each stakeholder will either expect or demand to be part of all critical decisions on the project” (Kerzner, 2009). The stakeholder engagement is the most substantial matter in any project (Abidin, 2010). Stakeholders are defined as legal entities or individuals who have stakes in a project or are able to affect project execution (Olander, 2005). McGrath and Whitty (2017) define stakeholder as “an entity with a stake (interest) in the subject activity”. Stakeholders can significantly influence on project outputs. At each project phase, the number and type of stakeholders may vary and have different interests that should be effectively met (Oppong et al., 2017). These different interests may conflict with each other and certainly make it even more difficult to determine stakeholder engagement strategies. It is not practically possible to make all project stakeholders satisfied.
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