International Journal of Economic Sciences最新文献

Economic and Political Dynamics of Globalization: A Review of Continuity and Change in Research Focus 全球化的经济和政治动态：研究重点的连续性和变化回顾

IF 2.4

International Journal of Economic Sciences Pub Date : 2024-05-16 DOI: 10.52950/es.2024.13.1.003

Jan Neugebauer, Marek Vokoun

{"title":"Economic and Political Dynamics of Globalization: A Review of Continuity and Change in Research Focus","authors":"Jan Neugebauer, Marek Vokoun","doi":"10.52950/es.2024.13.1.003","DOIUrl":"https://doi.org/10.52950/es.2024.13.1.003","url":null,"abstract":"This paper delves into the multifaceted phenomenon of globalization and examines its contemporary manifestations. Globalization, characterized by increasing interconnectedness and interdependence among nations, has gained momentum through technological advancements, trade, and communication. In the context of historical dialectics, capitalism, and political economy, this study explores the evolving landscape of globalization and its implications for the modern world. The investigation aims to bridge the gap between past research and emerging trends, analyzing the complex relationship between economic interdependence and global dynamics. Through a systematic review of literature, including original research and review studies, the study uncovers a diverse array of topics, from geopolitical dynamics and ecological innovations to labor market disruptions and international trade evolution. While traditional themes such as inequality, technological advancements, and historical origins remain vital, contemporary discourse encompasses ecological sustainability, labor market transformations, and strategic geopolitical interactions. Notably, recent research highlights the role of economic diplomacy and strategies of dominant players, such as the EU, the US, and China, in shaping global markets. Furthermore, it emphasizes the intersection of technology, innovation, and globalization, particularly within industries and labor markets. Through an examination of the past, present, and future, this work aims to foster a comprehensive understanding of globalization's diverse dimensions, aiding policymakers, economists, and businesses in making informed choices.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140967452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Environmental Effects of Green Bonds and Other Forms of Financing in the European Union 欧盟绿色债券和其他融资形式对环境的影响

IF 2.4

International Journal of Economic Sciences Pub Date : 2024-05-16 DOI: 10.52950/es.2024.13.1.005

Stefan Petrov, Svetlana Aleksansrova, Silvia Kirova

{"title":"Environmental Effects of Green Bonds and Other Forms of Financing in the European Union","authors":"Stefan Petrov, Svetlana Aleksansrova, Silvia Kirova","doi":"10.52950/es.2024.13.1.005","DOIUrl":"https://doi.org/10.52950/es.2024.13.1.005","url":null,"abstract":"Prioritising the implementation of environmental policies is a cornerstone for European Union member states. While sharing common objectives, individual countries apply their own approaches to implementing and financing the sustainable development and green transition, considering the national economic characteristics.\u0000This raises the crucial question of the extent to which various funding sources contribute to the success of environmental policies. In the past decade, many instruments for financing sustainable development have emerged, with green bonds prominently positioned as a pivotal tool for directing financial flows towards the achievement of green objectives.\u0000This paper studies the relationship between the different instruments for financing, such as the availability of issued green bonds, the extent of total debt, economic development, fiscal instruments, and on the other hand the specific indicators used to evaluate the effects of implementing the environmental policies. The study focuses on the environmental policies of European Union member states and associated member states from 2015 to 2022, with the intent to examine the effect of policies on indicators like energy consumption, greenhouse gas emissions, and economic losses from extreme weather events. Through correlation analysis, the study aims to specify the direction and significance of the influence of each independent variable on the dependent indicators. The findings reveal that green bond financing serves as a catalyst for positive changes in reducing energy consumption and carbon emissions, while general government debt emerges as a significant factor in financing environmental policies.\u0000","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140970391","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Merger Spin-off Project and Its Effect on Financial Health Of Post-Transformation Companies 合并分拆项目及其对转型后公司财务健康的影响

IF 2.4

International Journal of Economic Sciences Pub Date : 2024-05-16 DOI: 10.52950/es.2024.13.1.001

Olga Heralová

{"title":"Merger Spin-off Project and Its Effect on Financial Health Of Post-Transformation Companies","authors":"Olga Heralová","doi":"10.52950/es.2024.13.1.001","DOIUrl":"https://doi.org/10.52950/es.2024.13.1.001","url":null,"abstract":"The purpose of this article is to examine the impact of business transformation on the financial health of companies undergoing transformation, using bankruptcy indices. Business transformation could be the way to support risk diversification, improve production efficiency, financial performance or implement changes in organizational structure due to changed internal or external conditions. The verification of the financial health of the companies involved should be carried out and documented in order to ensure that no one has been harmed in connection with the transaction, due to the criminal liability of the legal representatives. This is usually done in advance. The advantage of this article is to point out that the verification by means of bank indicators is also suitable to be carried out after the transaction, immediately after and with a time lag, and could be part of the internal control process. A specific type of transformation, the spin-off by merger project, is the focus of this paper. This paper examines the financial health of companies operating in the Czech Republic using Altman's Z-score and IN05 bankruptcy indices. The main contribution of the article is the verification of the applicability of bankruptcy indicators for assessing the impact of the spin-off by merger project on the financial health of companies after transformation for the needs of documenting the actions of statutory directors and other decision makers with the due diligence of a proper manager.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140969019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

"Action and reaction" - a new public sector effectiveness assessment methodology "行动与反应"--一种新的公共部门效能评估方法

IF 2.4

International Journal of Economic Sciences Pub Date : 2024-05-16 DOI: 10.52950/es.2024.13.1.006

Vilém Čáp, Marek Feurich, Martin Lukavec

{"title":"\"Action and reaction\" - a new public sector effectiveness assessment methodology","authors":"Vilém Čáp, Marek Feurich, Martin Lukavec","doi":"10.52950/es.2024.13.1.006","DOIUrl":"https://doi.org/10.52950/es.2024.13.1.006","url":null,"abstract":"The main contribution of the paper is the development of a new way of assessing the efficiency of public administration using statistical methods - multivariate regression (identification of exogenous factors) and residual analysis (identification of regression residuals). The methodology presented is intuitive, practical and, if appropriately set up, globally applicable for the evaluation of a wide range of processes taking place in the public sector on the principle of \"action and reaction\". Putting the methodology into practice can go some way to satisfying the \"taxpayer hunger\" for information about whether the money they pay in taxes is being used wisely. It makes it possible to assess efficiency in a particular institution or to compare similar processes in several institutions over a given period of time. The methodology has been developed on the basis of audit findings (prepared by the supreme audit institution for the public sector in a democratic state) and their implications. The developed methodology brings a new perspective to the traditional claim that public sector effectiveness is virtually impossible to measure and that factors for objective evaluation of public sector managers cannot be easily established.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141127519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Real Estate Insights on Mortgage Rates, Apartment Prices, and Rentals in Czech Republic 关于捷克共和国房贷利率、公寓价格和租金的房地产透视

IF 2.4

International Journal of Economic Sciences Pub Date : 2024-05-16 DOI: 10.52950/es.2024.13.1.002

Eduard Hromada

{"title":"Real Estate Insights on Mortgage Rates, Apartment Prices, and Rentals in Czech Republic","authors":"Eduard Hromada","doi":"10.52950/es.2024.13.1.002","DOIUrl":"https://doi.org/10.52950/es.2024.13.1.002","url":null,"abstract":"This study examines the complex dynamics of the Czech real estate market, focusing on the interaction between mortgage rates and residential property prices, the influence of dwelling size on market price trends, and the impact of regional economic disparities on property values. We find that lower mortgage rates paradoxically raise house prices through increased demand, calling into question the effectiveness of monetary policy in improving housing affordability. This counter-intuitive effect highlights the complex interplay between fiscal policy and market responses. In addition, the analysis reveals a significant shift towards smaller dwellings, increasingly favoured by single-person households, reflecting changing demographic trends. This shift has clear implications for price dynamics and market accessibility in both the sales and rental sectors, suggesting a nuanced response to consumer preferences across different market segments. In addition, the research highlights a strong correlation between regional economic vitality and property prices, underlining the profound influence of the broader economic landscape in shaping property values in different areas. By integrating these critical aspects, the study provides a comprehensive and nuanced understanding of the factors influencing the Czech property market, offering valuable insights for policy makers, property developers and investors seeking to navigate or influence this market effectively.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140969620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Evidence Against the Undertaxation of Digital Companies from the Weighted Effective Tax Rate Method Analysis 从加权实际税率法分析数字公司税收不足的证据

IF 2.4

International Journal of Economic Sciences Pub Date : 2024-05-16 DOI: 10.52950/es.2024.13.1.004

Pavel Peterka, Dominik Stroukal

{"title":"Evidence Against the Undertaxation of Digital Companies from the Weighted Effective Tax Rate Method Analysis","authors":"Pavel Peterka, Dominik Stroukal","doi":"10.52950/es.2024.13.1.004","DOIUrl":"https://doi.org/10.52950/es.2024.13.1.004","url":null,"abstract":"This study scrutinizes the prevalent belief that traditional companies face a more substantial taxation burden compared to digital firms. Our research delves into the effective corporate tax rate (ECTR) for an extensive sample of 463 global companies, encompassing 217 digital and 246 traditional entities, over the period from 2010 to 2020. Utilizing a unique dataset, our analysis reveals that the effective tax rates for digital and traditional companies do not significantly diverge. Contrary to common perceptions, in certain years, digital companies shouldered a heavier tax burden. This finding suggests that to achieve parity in taxation between digital and traditional firms, digital entities would have warranted tax relief, particularly between 2012 and 2015 when their tax rates were demonstrably higher. Furthermore, our models highlight a gradual increase in the effective corporate tax rate for digital companies over time, reflecting their growth and stabilization in the market. Throughout the entire period under study, including each individual year from 2010 to 2020, the difference in the effective tax rate between digital and traditional companies did not exceed an average of three percentage points across the selected countries. This threshold of three percent is notably the same as the digital tax proposed by the European Commission as a provisional measure. Since the observed difference consistently fell below this margin, imposing an additional 3% tax on digital services would, in effect, impose a disproportionately higher tax burden on digital firms than on their traditional counterparts.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140967978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

An Error in the Theory of Seigniorage 铸币税理论中的一个错误

International Journal of Economic Sciences Pub Date : 2023-11-13 DOI: 10.52950/es.2023.12.2.005

Petr Mach

引用次数: 0

Findings from the first wave of Covid-19 on the different impacts of lockdown on public health and economic growth 第一波新冠肺炎疫情对封锁对公共卫生和经济增长的不同影响的研究结果

International Journal of Economic Sciences Pub Date : 2023-11-13 DOI: 10.52950/es.2023.12.2.002

Bilal Kargı, Mario Coccia, Bekir Cihan Uçkaç

{"title":"Findings from the first wave of Covid-19 on the different impacts of lockdown on public health and economic growth","authors":"Bilal Kargı, Mario Coccia, Bekir Cihan Uçkaç","doi":"10.52950/es.2023.12.2.002","DOIUrl":"https://doi.org/10.52950/es.2023.12.2.002","url":null,"abstract":"This paper examines the impact of different durations of national lockdown measures during the first wave of the COVID-19 pandemic on the public health and economic conditions of nations. Results indicate that a) countries with shorter lockdown periods, approximately 15 days, experience a higher variation of confirmed cases/population (%) compared to countries with longer lockdowns, lasting for over one month; b) countries with shorter lockdown periods experience lower average fatality rates compared to countries with longer lockdown periods, while the variation in fatality rates indicates that countries with longer periods of lockdown achieved a more substantial reduction in fatality rates. Nevertheless, the findings of the study indicate that while longer durations of national lockdowns, implemented as a government response to the COVID-19 pandemic, appear to produce somewhat uncertain outcomes in terms of public health, they exhibit a more substantial adverse effect on a country’s economic growth, resulting in a contraction in gross domestic product growth. Extracting key lessons from this study can prove invaluable in crafting effective public responses for future COVID-19 waves and epidemics that resemble the characteristics of COVID-19.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136347519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Treynor Ratio as a Risk-adjusted Return of Croatian Listed Firms 克罗地亚上市公司风险调整收益的Treynor比率

International Journal of Economic Sciences Pub Date : 2023-11-13 DOI: 10.52950/es.2023.12.2.006

Tomislava Pavic Kramaric, Marko Miletic, Petar Pepur

{"title":"The Treynor Ratio as a Risk-adjusted Return of Croatian Listed Firms","authors":"Tomislava Pavic Kramaric, Marko Miletic, Petar Pepur","doi":"10.52950/es.2023.12.2.006","DOIUrl":"https://doi.org/10.52950/es.2023.12.2.006","url":null,"abstract":"Motivated by the importance of determinants of firm performance, especially in terms of risk-adjusted performance that considers underlying risks, this paper explores the effects of firm-specific determinants on risk-adjusted returns such as the Treynor ratio. Specifically, the authors explore whether firm size, capital expenditures, capital intensity, equity ratio, leverage, profitability, listing age, and liquidity affect the performance of Croatian non-financial listed companies that form the CROBEXplus equity index in the period 2014 – 2021. Utilizing dynamic panel analysis, several key deterministic factors of risk-adjusted performance are identified including firm size, capital intensity, equity ratio, leverage, profitability, and listing age. In other words, larger firms tend to experience greater risk adjusted returns than their smaller counterparts as well as firms with higher equity ratios, i.e. those not overly indebted. Results also show that capital intensity, which is viewed as a source of entry barrier, is positively related to risk adjusted-performance which is also true for profitability. Furthermore, companies that have a longer presence in the market in terms of being listed on the stock exchange document enhanced risk-adjusted returns. These findings have significant policy and practical implications.","PeriodicalId":42415,"journal":{"name":"International Journal of Economic Sciences","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136347518","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Is the Eurozone an Optimum Currency Area? 欧元区是最优货币区吗?

International Journal of Economic Sciences Pub Date : 2023-11-13 DOI: 10.52950/es.2023.12.2.004

Marek Louzek

引用次数: 0