Template-Type: ReDIF-Article 1.0 Author-Name: Václav Adamec Author-Workplace-Name: Department of Statistics and Operations Research, School of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Short-Term and Long-Term Relationships Between Prices of Imported Oil and Fuel Products in the U. S. Abstract: In this study, we analyzed a system of five monthly time series integrated I(1): average price of crude oil imported to the U.S. from OPEC countries (Opec), imported oil price from other than OPEC countries (NonOpec) in USD per barrel, average price of regular gasoline in the U.S. (Regular), premium quality gasoline price (Premium) and kerosene price (Kerosene) in U.S. cents per gallon. Cointegration was established by EG test and the series were analyzed by VECM model with lag selected via BIC criterion. Cointegration rank was determined by the Johansen procedure. According to VECM coefficients, prices of oil from OPEC countries and beyond OPEC exert influence upon all commodity prices in the system, but in a contradictory manner. Responses to innovation shocks in Opec and NonOpec stabilized within 8 to 10 months upon a nonzero shift and further became permanent. Innovation shock in both types of gasoline and Kerosene had only short-term significant impact upon the system. Forecast error variance in all variables is explained mainly by variation in oil prices, especially Opec, which persists with increased horizon. For a short horizon h = 1, FEVDs in gasoline and kerosene prices are primarily made of variation in the respective fuel prices. Keywords: oil price, cointegration, vector error correction model, impulse-response function, forecast error variance decomposition, R-software Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1285-1293 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041285 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041285.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041285.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0022.txt Handle: RePEc:mup:actaun:actaun_2016064041285 Template-Type: ReDIF-Article 1.0 Author-Name: Davood Barzegari Author-Workplace-Name: Faculty od Management, University of Tehran, Teheran, Iran Title: A New Model for Assessing Human Resources with Using the Business Excellence Model Abstract: The main objective of this research is to present a model to assess the situation of human resource management.To do this, the Organizational Excellence Model of performance appraisal has been selected among the other models. Thus, based on the criteria of the model, we will present a model to assess the performance of the human resource. Moreover, equipped with the mentioned model, the research will evaluate the existing gap in the human resource management of the studied organization and will offer some suggestions to improve the situations. In current era, the organizations will survive who can be responsible for the needs and wants of their customers and beneficiaries. Using such models the organizations can evaluate the rate of their success in administering the improvement programs at different periods of times at one hand, and compare their performance with other (and best) organizations at the other hand. This research is an applied research in its objective, and it is a descriptive-analytic one in its data gathering. Since the subject of the research has been available for the researchers and the study has being done at the place of the research, so it is a field study. According to the findings of the research, the deepest gap is observable in the results of the customers and "human resource management customer results" and the "people results". Keywords: human resource management, organizational excellence model, offered model Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1295-1301 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041295 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041295.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041295.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0023.txt Handle: RePEc:mup:actaun:actaun_2016064041295 Template-Type: ReDIF-Article 1.0 Author-Name: Martina Bobriková Author-Workplace-Name: Department of Finance, Faculty of Economics, Technical University of Košice, B. Němcovej 32, 040 01 Košice, Slovak Republic Title: Weather Risk Management in Agriculture Abstract: The paper focuses on valuation of a weather derivative with payoffs depending on temperature. We use historical data from the weather station in the Slovak town Košice to obtain unique prices of option contracts in an incomplete market. Numerical examples of prices of some contracts are presented, using the Burn analysis. We provide an example of how a weather contract can be designed to hedge the financial risk of a suboptimal temperature condition. The comparative comparison of the selected option hedging strategies has shown the best results for the producers in agricultural industries who hedges against an unfavourable weather conditions. The results of analysis proved that by buying put option or call option, the farmer establishes the highest payoff in the case of temperature decrease or increase. The Long Straddle Strategy is the most expensive but is available to the farmer who hedges against a high volatility in temperature movement. We conclude with the findings that weather derivatives could be useful tools to diminish the financial losses for agricultural industries highly dependent for temperature. Keywords: weather derivative, option contract, temperature, Burn analysis, hedging Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1303-1309 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041303 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041303.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041303.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0024.txt Handle: RePEc:mup:actaun:actaun_2016064041303 Template-Type: ReDIF-Article 1.0 Author-Name: Vendula Drápelová Author-Workplace-Name: Department of Applied Statistics and Demography, Faculty of Regional Development and International Studies, Mendel University in Brno, Zemědělská 1, 613 00, Czech Republic Author-Name: Nahanga Verter Author-Workplace-Name: Department of Applied Statistics and Demography, Faculty of Regional Development and International Studies, Mendel University in Brno, Zemědělská 1, 613 00, Czech Republic Author-Name: Dana Hübelová Author-Workplace-Name: Department of Applied Statistics and Demography, Faculty of Regional Development and International Studies, Mendel University in Brno, Zemědělská 1, 613 00, Czech Republic Title: Demogeographic Analysis To Support the Optimum Realization of the Strategy of Regional Development in the Administrative District of Municipality of Valašské Meziříčí Abstract: Regional development represents the society efforts geared towards reducing regional disparities, optimizing the development and mitigating any social problems. People play a highly significant role that triggers certain demographic development and spatial specifics of demographic indicators, in particular, and regional development, in general. Against this backdrop, this article assesses some demographic indicators in the municipality of Valašské Meziříčí. The results from the statistical analysis of spatial and temporal series show that the administrative district of the municipality of Valašské Meziříčí demonstrated (micro) regional differences and outlined the future population change. The identified adverse effects include: the declining of the population in the administrative headquarters; distinctive dynamics of aging and the low level of economic activity in certain municipalities; underdevelopment of community services; and distribution of the age structure of the disproportion between the peripheral facilities and administrative headquarters. There is an urgent need for policy decisions that could avert the unfavorable development of some demographic indicators (economic and social) in the future. Keywords: regional development, administrative district of the municipality, demographic indicator, time series Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1311-1323 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041311 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041311.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041311.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0025.txt Handle: RePEc:mup:actaun:actaun_2016064041311 Template-Type: ReDIF-Article 1.0 Author-Name: Martina Kopečková Author-Workplace-Name: Department of Project Management, Faculty of Regional Development and International Studies, Mendel University in Brno, Zemedelska 1, 613 00 Brno, Czech Republic Author-Name: Pavel Máchal Author-Workplace-Name: Department of Project Management, Faculty of Regional Development and International Studies, Mendel University in Brno, Zemedelska 1, 613 00 Brno, Czech Republic Title: Survey on the Level of Knowledge and Skills of Project Managers in Regional Development Abstract: The level of knowledge and skills of project managers in the field of regional development shows a high level of differentiation, which has an impact on management of (non)investment projects in the given region. For effective addressing problems of regional development is crucial that projects will be processed, handled and managed at a professional level. The paper aims to confirm or disprove the given hypothesis and to identify the knowledge areas affected by the ignorance the most. For this purpose the survey on the level of knowledge and skills of project managers in regional development in NUTS III region in the Czech Republic was conducted. The survey results has allowed identifying the level of knowledge and skills of project managers in regional development in project management knowledge areas and thereby has enabled to identify the knowledge areas affected by the ignorance the most. Among these knowledge areas belong mainly Risk management, Scope management and Quality management. The results have also enabled to present the level of differentiation of the level of knowledge and skills of project managers from the mean and to compare findings in the particular NUTS III region of the Czech Republic among each other. The findings show a high level of differentiation of the knowledge and skills of project managers. Keywords: Project management, regional development, NUTS III regions, knowledge and skills Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1325-1335 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041325 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041325.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041325.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0026.txt Handle: RePEc:mup:actaun:actaun_2016064041325 Template-Type: ReDIF-Article 1.0 Author-Name: Ivana Lampartová Author-Workplace-Name: Department of Environmentalistic and Natural Resouces, Faculty of Regional Development and International Studies, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Kateřina Blažková Author-Workplace-Name: Department of Environmentalistic and Natural Resouces, Faculty of Regional Development and International Studies, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Kristina Somerlíková Author-Workplace-Name: Department of Applied Statistics and Demography, Faculty of Regional Development and International Studies, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Public Awareness of the Relation between Nature-friendly Watercourse Modifications and Recreation in Cities Abstract: The aim of the article is to present the results of a method of public preferences - a questionnaire survey finding an awareness of the relation between the modifications of watercourses and recreation in urban environment. The aquatic ecosystem and the water itself in a landscape are regarded by citizens as a mere source of energy, food, and water used for industry or as a means of transport. However, water elements along with the flora and fauna belonging to this living ecosystem provide a plethora of opportunities for a development of e.g. recreation, tourism, even an entire region. The questionnaire method used has been applied in selected cities in the Czech Republic, e.g. in Frýdek-Místek, Olomouc, Vlašim, Benátky nad Jizerou and others. The criterion for selecting the cities has mostly been the construction of nature-friendly modifications to watercourse while seeking to increase the recreational potential of the area. The outcome of this article is to present the original results of the public survey which have subsequently served for a further processing of drafts and measures for recreational potential in the selected locations. The most important finding of this research was the minimum level of selected site citizens' awareness of revitalization and flood modifications, projects that were realized on watercourses in the cities. Keywords: rivers in the cities, recreational use, survey Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1337-1344 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041337 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041337.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041337.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0027.txt Handle: RePEc:mup:actaun:actaun_2016064041337 Template-Type: ReDIF-Article 1.0 Author-Name: Zdeňka Náglová Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 21, Prague 6, Czech Republic Author-Name: Jindřich Špička Author-Workplace-Name: Department of Strategy, Faculty of Business Administration, University of Economics, Prague, nám. W. Churchilla 4, 130 67, Prague 3, Czech Republic Author-Name: Martin Gürtler Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 21, Prague 6, Czech Republic Title: Evaluation of Effects of Investment Support in the Czech Dairy Industry Abstract: The article deals with investment subsidies which were drawn by enterprises of the dairy industry in 2007-2013. It is a subsidy within the Rural Development Programme 2007-2013 and the National subsidies. This article aims to assess whether these subsidies have contributed to higher economic efficiency of enterprises. The impact of investment grants to economic indicators (sales, debt ratio, labour productivity and production consumption) is evaluated. 35 dairy enterprises that drew investment grants, were analyzed in total. According to the results, grants from national sources have a greater impact on the economy of businesses. National subsidies improve labour productivity, sales and production consumption. Impacts of subsidies drawn from the Rural Development Programme are less noticeable. These subsidies affect only the production consumption by its decreasing. The market situation in 2008 and 2009 also influenced the rated indicators. Keywords: dairy industry, investment grants, Rural Development Programme, National subsidies, economy of business, efficiency, fixed effect model Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1345-1351 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041345 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041345.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041345.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0028.txt Handle: RePEc:mup:actaun:actaun_2016064041345 Template-Type: ReDIF-Article 1.0 Author-Name: Marek Otáhal Author-Workplace-Name: Department of Cybernetics, Faculty of Electrical Engineering , Czech Technical University, Karlovo namesti 13, 121 35 Prague 2, Czech Republic Author-Name: Olga Štěpánková Author-Workplace-Name: Department of Cybernetics, Faculty of Electrical Engineering , Czech Technical University, Karlovo namesti 13, 121 35 Prague 2, Czech Republic Title: New Tool for Visualization of Time Series and Anomalies in Streaming Data Abstract: A new software tool for simultaneous visualization of multiple time dependent signals, featuring a novel and highly useful combination of capabilities, and published as an open source solution is presented in this paper. The tool is designed to meet the needs of its users who expect lightweight, interactive & intuitive use and ease of deployment in current setups, including live monitoring systems with anomaly detection, highlighting and streaming data processing abilities. The functionality and motivation for our system is derived from various signal analysis applications, our research activities related to design and evaluation of neural network models, and from systems for continuous monitoring and anomaly detection (e.g. in IT or medical domains), which is demonstrated on simple use case examples. Keywords: visualization, online monitoring, time-series, anomaly detection, interactive graph scaling Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1353-1364 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041353 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041353.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041353.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0029.txt Handle: RePEc:mup:actaun:actaun_2016064041353 Template-Type: ReDIF-Article 1.0 Author-Name: Olga Regnerová Author-Workplace-Name: Department of Business and Finance, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Kamýcká 129, 16521 Prague, Czech Republic Author-Name: Daniela Šálková Author-Workplace-Name: Department of Business and Finance, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Kamýcká 129, 16521 Prague, Czech Republic Author-Name: Pavla Varvažovská Author-Workplace-Name: Department of Humanities, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Kamýcká 129, 16521 Prague, Czech Republic Title: The Availability of Food for a Gluten-free Diet and Possibilities at Dining Establishments Abstract: The aim of the paper is to evaluate options for customers-consumers with a gluten-free diet (coeliac disease patients) at food establishments on the Czech market. A gluten-free diet is the only treatment for patients with coeliac disease and it significantly affects their health. The availability of food was investigated during February and March 2014 in three types of food operations. These establishments were visited in forty-three urban, rural and non-residential areas, and the availability of food for people with a gluten-free diet was investigated through interviews at 226 facilities. The preferences of the specific group of customers with a gluten-free diet were determined through comprehensive comparative research. The data was collected from February to June 2014, and 441 respondents were interviewed. The survey revealed that the majority of consumers who must follow this diet fall in the age group of up to 40 years old. This age group consists of preschool and school-age children, students and people of working age who frequently eat away from home. The paper deals with the evaluation of the level of public food services used by customers with gluten intolerance and gives some recommendations for improving the availability and offer of food for a gluten-free diet in selected types of hospitality establishments. Keywords: coeliac, dietary services, gluten-free diet, customer-consumer, public catering Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1365-1372 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041365 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041365.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041365.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0030.txt Handle: RePEc:mup:actaun:actaun_2016064041365 Template-Type: ReDIF-Article 1.0 Author-Name: Irena Szarowská Author-Workplace-Name: Department of Finance and Accounting, School of Business Administration, Silesian University, Univerzitní nám. 1934/3, 733 40 Karviná, Czech Republic Title: Quality of Public Finance and Economic Growth in the Czech Republic Abstract: Quality of public finances belongs to a key policy challenge as its improvement should lead to a long-term economic growth. The aim of the paper is to investigate if the key channels and tools used by the public finance (structure of revenue system, size of the government and composition of expenditure, level and sustainability of fiscal position) affect economic growth in the Czech Republic in the period 1995-2013. The empirical model is based on the methodology of Barro and Sala-i-Martin (2003) and the model of Mankiw et al. (1992) which is adapted to the framework of this study. The results of dynamic regressions suggest that economic growth is affected by public finance variables only partly and traditional sources of economic growth (human capital or openness) play bigger role. Provided evidence shows that total tax burden as well as the structure of revenue system (especially implicit tax rates on labour and consumption) should be primarily used as tools for maintain macroeconomic objectives. On the contrary, changes in size and composition of expenditure, balance and debt report not statistically significant impact. Keywords: public finance, economic growth, revenue, expenditure, fiscal position, governance, efficiency Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1373-1381 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041373 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041373.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041373.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0031.txt Handle: RePEc:mup:actaun:actaun_2016064041373 Template-Type: ReDIF-Article 1.0 Author-Name: Ladislav Šiška Author-Workplace-Name: Department of Management Accounting, Faculty of Finance and Accounting, University of Economics, Prague, Winston Churchill Square 4, 130 00 Prague, Czech Republic Title: The Contingency Factors Affecting Management Accounting in Czech Companies Abstract: Management accounting practices and the contingency factors affecting their application were subject of many complex studies, but none of them was carried out in the Czech Republic. That is why the article focuses on practices applied in Czech companies. Four different categories of management accounting practices (cost classifications, operational budgeting, operational performance reporting and strategic management accounting methods) were investigated based on survey data from companies domiciled in the Czech Republic. To get comparable results, respondents of the survey were asked questions developed and used by the other researchers (Henri 2006, Jansen et al. 2006, Widener 2007) for identification of significant contingency factors in the countries with developed markets. Factor and regression analyses were applied to process data gathered through survey. Results confirm that the Czech Republic - although sometimes considered to be economy with emerging markets - shows similar significant contingency factors affecting management accounting (MA) practices as companies in the developed countries do. Keywords: contingency theory, management accounting practices, cost classifications, budgeting, reporting, strategic management accounting Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1383-1392 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041383 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041383.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041383.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0032.txt Handle: RePEc:mup:actaun:actaun_2016064041383 Template-Type: ReDIF-Article 1.0 Author-Name: Jakub Tabas Author-Workplace-Name: Department of Business Economics, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Michaela Beranová Author-Workplace-Name: Department of Business Economics, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Innovations' Survival Abstract: Innovations currently represent a tool of maintaining the going concern of a business entity and its competitiveness. However, effects of innovations are not infinite and if an innovation should constantly preserve a life of business entity, it has to be a continual chain of innovations, i.e. continual process. Effective live of a single innovation is limited while the limitation is derived especially from industry.The paper provides the results of research on innovations effects in the financial performance of small and medium-sized enterprises in the Czech Republic. Objective of this paper is to determine the length and intensity of the effects of technical innovations in company's financial performance. The economic effect of innovations has been measured at application of company's gross production power while the Deviation Analysis has been applied for three years' time series. Subsequently the Survival Analysis has been applied. The analyses are elaborated for three statistical samples of SMEs constructed in accordance to the industry. The results obtained show significant differences in innovations' survival within these three samples of enterprises then. The results are quite specific for the industries, and are confronted and discussed with the results of authors' former research on the issue. Keywords: effect of innovations, financial performance, innovation, SMEs, survival analysis Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1393-1399 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041393 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041393.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041393.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0033.txt Handle: RePEc:mup:actaun:actaun_2016064041393 Template-Type: ReDIF-Article 1.0 Author-Name: Jana Tepperová Author-Workplace-Name: University of Economics in Prague, Faculty of Finance and Accounting, Department of Public Finance, W. Churchill Sq. 4, Prague 3, Czech Republic Author-Name: Jan Pavel Author-Workplace-Name: University of Economics in Prague, Faculty of Finance and Accounting, Department of Public Finance, W. Churchill Sq. 4, Prague 3, Czech Republic Title: Evaluation of the Impacts of Selected Tax Reforms Influencing the Income of Individuals in the Czech Republic Abstract: Ability to predict the impacts of proposed tax changes is crucial for effective and transparent tax policy. The ex-ante impact evaluation of proposed changes is in the Czech Republic part of the Regulatory Impact Assessment process and assumed effects are published within the reasoning reports to the amendment laws. We use the top-down approach to calculate ex-post the impacts of the most significant changes in personal income tax and contribution on obligatory insurance on public revenues and compare the results with forecasted effects from reasoning reports. We use data for the period of 1994 to 2014 and create three models to quantify the impact on personal income tax revenue, social security contribution and health insurance contribution. The results show the tendency to underestimate real effects about a third to a half when calculating the projected impact on public revenues. For more accurate estimations we recommend higher transparency in presented methodology within the Regulatory Impact Assessment process and evaluation by independent institution for changes with significant impact. Keywords: personal income tax, tax reforms, tax revenues, social security contribution, health insurance contribution Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1401-1407 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041401 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041401.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041401.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0034.txt Handle: RePEc:mup:actaun:actaun_2016064041401 Template-Type: ReDIF-Article 1.0 Author-Name: Lucie Vnoučková Author-Workplace-Name: Department of Management, University of Economics and Management, Nárožní 2600/9a, 158 00 Prague 5, Czech Republic Author-Name: Hana Urbancová Author-Workplace-Name: Department of Management, Faculty of Economics and Management, Czech University of Life Sciences in Prague, Kamýcká 129, 165 21 Prague 6, Czech Republic Author-Name: Helena Smolová Author-Workplace-Name: Department of Management, University of Economics and Management, Nárožní 2600/9a, 158 00 Prague 5, Czech Republic Title: Identification and Development of Key Talents through Competency Modelling in Agriculture Companies Abstract: The necessity of identification of key talents in company is known in all sectors of economy. Therefore the aim of the paper is based on competency analysis to define key factors leading to talent identification and internalization through competency modelling. Paper characterizes areas of necessary competencies on specific job positions in companies. Their targeting on employee and teams in talent management is revealed. The objective is based on analysis of primary survey conducted on 101 agriculture companies. The data were obtained through manager surveys for which a single manager represented the given company. One-dimensional and multi-dimensional statistics were used to evaluate the data. Based on statistical analyses of required competencies five factors characterizing area of key employee and team development were identified. Those factors are inclusive approach, management support, strategic development, leadership development and integrity. The resultant factors create competency models usable in specified job positions. Limits of the paper is narrow focus on primary sector companies. The results may help surveyed companies in primary sector to set required and necessary competencies for specific areas to identify and develop employees, talents and teams. Keywords: Talent management, competencies, development, talent, perception, employee, agriculture, training, competency models Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1409-1419 Volume: 64 Issue: 4 Year: 2016 DOI: 10.11118/actaun201664041409 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041409.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201664041409.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201604-0035.txt Handle: RePEc:mup:actaun:actaun_2016064041409