Template-Type: ReDIF-Article 1.0 Author-Name: Khatai Aliyev Author-Workplace-Name: UNEC Empirical Researches Center, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan Author-Workplace-Name: Department of World Economy, Baku Engineering University, Khirdalan, Azerbaijan Author-Workplace-Name: Department of Public Policy Modelling, ASERC, Baku, Azerbaijan Author-Name: Altay Ismayilov Author-Workplace-Name: International School of Economics, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan Author-Workplace-Name: Knowledge Economy UNEC Researches Center, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan Author-Name: Ilkin Gasimov Author-Workplace-Name: UNEC Empirical Researches Center, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan Author-Workplace-Name: Institute for Scientific Research on Economic Reforms, Ministry of Economy of the Republic of Azerbaijan, Baku, Azerbaijan Author-Workplace-Name: Department of Public Policy Modelling, ASERC, Baku, Azerbaijan Title: Modelling Elasticity of Non-Oil Tax Revenues to Oil Price Changes: is There U-Shaped Association? Evidence from Azerbaijan Abstract: Oil price changes has a great influence on the behaviour of firms in oil exporting countries which displays itself in amount of non-oil tax receipts of the state budget. Employing FMOLS, DOLS, and CCR cointegration methods for 2001Q1-2015Q4, the study aims to analyse how oil price changes affects non-oil tax revenues in Azerbaijan. Empirical results altogether provide strong scientific evidence that there is U-shaped causality from oil price changes to total non-oil tax revenues , corporate income tax receipts and labour income tax payments , and inverse U-shaped to non-oil VAT revenues of the state budget. Results show that firms face with the trade-off between "produce-and-sell" and "import-and-sell" as oil price rises. In case of higher price than the threshold level, companies prefer the latter choice. Research findings are highly useful for the public policy decision-makers in resource rich economies. Keywords: oil price changes, firm behaviour, non oil sector, tax revenues, threshold level, produce and sell, import and sell, natural resources Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 799-810 Volume: 67 Issue: 3 Year: 2019 DOI: 10.11118/actaun201967030799 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030799.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030799.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201903-0017.txt Handle: RePEc:mup:actaun:actaun_2019067030799 Template-Type: ReDIF-Article 1.0 Author-Name: Diana Kvasnová Author-Workplace-Name: Department of Tourism and Hospitality, Faculty of Economics, Matej Bel University in Banská Bystrica, Národná 12, 974 01 Banská Bystrica, Slovakia Author-Name: Tomáš Gajdošík Author-Workplace-Name: Department of Tourism and Hospitality, Faculty of Economics, Matej Bel University in Banská Bystrica, Národná 12, 974 01 Banská Bystrica, Slovakia Author-Name: Vanda Maráková Author-Workplace-Name: Department of Tourism and Hospitality, Faculty of Economics, Matej Bel University in Banská Bystrica, Národná 12, 974 01 Banská Bystrica, Slovakia Title: Are Partnerships Enhancing Tourism Destination Competitiveness? Abstract: The competitiveness and networking in tourism destinations is a well discussed topic among tourism scholars. However, the influence of partnerships of destination stakeholders on tourism competitiveness is under-researched. This paper contributes to the recent debate on partnerships and tourism destination competitiveness, including the gargantuan compilations of competitiveness factors by Ritchie and Crouch (2003), or Dwyer and Kim (2003), by examining the link among these two variables. The central question underlying this paper is whether partnerships of private and public sector stakeholders contribute to the destination competitiveness. The analysis is based on the quantification of destinations' competitiveness in Slovakia and the level of partnership by the creation of the partnership index. The paper concludes that the level of partnership positively affects the destination competitiveness. Keywords: competitiveness, destination management organization, governance, partnership, stakeholders, tourism destination Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 811-821 Volume: 67 Issue: 3 Year: 2019 DOI: 10.11118/actaun201967030811 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030811.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030811.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201903-0018.txt Handle: RePEc:mup:actaun:actaun_2019067030811 Template-Type: ReDIF-Article 1.0 Author-Name: Abdul Mansulu Author-Workplace-Name: Department of Accounting and Taxation, Faculty of Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Daniel Anarfi Author-Workplace-Name: Department of Accounting and Taxation, Faculty of Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Discretionary Disclosure of Listed Non-Financial Firms in an Emerging Market: Evidence from Ghana Abstract: The main objectives of this study are to measure the extent of voluntary disclosure of listed non-financial firms in Ghana. The paper also seeks to identify the corporate governance attributes that influence voluntary disclosure, and finally, it rated the importance of voluntary items in the annual reports from the viewpoint of investors in Ghana. The paper makes use of 2013 to 2016 annual reports for 17 firms. The corporate governance attributes examined are board size, the proportion of independent non-executive directors on the board, blockholder ownership and the audit committee. Five control variables were also used to support the study. We developed a total of 66 voluntary items. Both the simple frequency distribution and Stata software were employed to analyze the data. The findings revealed a mean of 32.7% as the level of voluntary disclosure. Board size, block holder ownership and audit committee had a positive association but only board size was statistically significant. The proportion of independent non-executive directors had an insignificant negative relationship. Concerning the rating of the importance of the voluntary items, items under financial information were more of concern to investors. There are benefits that the findings provide which will be useful to investors, preparers of financial statements and regulators. The study reveals the corporate governance attribute(s) that influence corporate disclosure and points out the level of transparency if the level of disclosure is used as a proxy. Keywords: corporate governance, voluntary disclosure, non-financial, listed firms, investors, board size, audit committee Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 823-837 Volume: 67 Issue: 3 Year: 2019 DOI: 10.11118/actaun201967030823 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030823.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030823.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201903-0019.txt Handle: RePEc:mup:actaun:actaun_2019067030823 Template-Type: ReDIF-Article 1.0 Author-Name: Lukáš Moravec Author-Workplace-Name: Department of Trade and Finance, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 21 Prague, Czech Republic Author-Name: Jana Hinke Author-Workplace-Name: Department of Trade and Finance, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 21 Prague, Czech Republic Author-Name: Gabriela Kukalová Author-Workplace-Name: Department of Trade and Finance, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 21 Prague, Czech Republic Author-Name: Adéla Šlapáková Author-Workplace-Name: Department of Trade and Finance, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 21 Prague, Czech Republic Title: Comparison of Tax Burden on Farms in Selected US States Abstract: This paper deals with the comparison of the tax burden of selected US States within the framework of two taxes - income tax and sales tax. When drawing up this issue, the authors were led by the idea that there may be significant differences among particular states, so they chose as the objective to identify fiscally attractive areas. The quantification research of tax burden on model farms in 12 US states - Corn Belt was carried out in order to meet the objective. To the three groups of taxpayers (single, married and head of household) were applied federal and state taxation on natural persons income, social security and health insurance contributions, and sales tax. The cross-sectional analysis is focused on 2012. The results of the comparative analysis led to the identification of fiscally attractive areas of agribusiness (South and North Dakota - regardless of the taxpayer status, Ohio) and to the confirmation of the assumption that there are significant differences between the states surveyed - particularly as regards the sales tax where a deviation of tax liability from the lowest tax burden of 74.99% was identified. Keywords: agriculture, U.S. tax system, income tax, self employment tax, sales tax Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 839-851 Volume: 67 Issue: 3 Year: 2019 DOI: 10.11118/actaun201967030839 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030839.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030839.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201903-0020.txt Handle: RePEc:mup:actaun:actaun_2019067030839 Template-Type: ReDIF-Article 1.0 Author-Name: Isah Serwadda Author-Workplace-Name: Department of Finance, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: The Effects of Capital Structure on Banks' Performance, the Ugandan Perspective Abstract: The paper aims to investigate the effects of capital structure on banks' performance on Ugandan banks for a ten years period, 2006-2015 with a sample of 20 commercial banks. The study employs four performance indicators of return on equity, return on assets, net interest margin and cost to income ratio to determine bank performance. Panel regression models are used to determine the effects of capital structure on bank performance. Independent variables are sub-divided into capital structure variables namely; long-term debt to total assets, short-term debt to total assets and total debt ratio and then control variables are bank size and tangibility of assets. Results portray that there is a positive relationship between capital structure variables and bank performance. It's between long-term debts, total debt with net interest margin. There is also a positive relationship between total debt and return on assets. It is still the same between total debt and returns on equity. However, there is a negative relationship between short-term debt and return on assets. The results also signify a positive relationship between bank size and net interest margin. It is still the same between bank size and returns on equity plus return on assets. There is a negative relationship between the tangibility of assets and net interest margin. It is also the same with return on equity. The findings propose that profitable banks rely more on debt financing as their financing option. This is advanced by the fact that approximately 68 % of total assets are represented by short-term debts for Uganda's commercial banks. This further implies that Ugandan banks largely depend on short-term debt financing for their business operations compared to long-term debt. Hence the study recommends that executive banking management teams plus policymakers should design prudent financing decisions aimed at reducing overreliance on debts to yield optimal capital structure levels. This will enable banks to remain at the top of the profitability game competitively in the banking industry. Keywords: banks performance, capital structure, return on equity, return on assets Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 853-868 Volume: 67 Issue: 3 Year: 2019 DOI: 10.11118/actaun201967030853 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030853.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030853.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201903-0021.txt Handle: RePEc:mup:actaun:actaun_2019067030853 Template-Type: ReDIF-Article 1.0 Author-Name: Eva Švandová Author-Workplace-Name: Department of Corporate Economy, Faculty of Economics and Administration, Masaryk University, Žerotínovo nám. 617/9, 601 77 Brno, Czech Republic Author-Name: Michal Jirásek Author-Workplace-Name: Department of Corporate Economy, Faculty of Economics and Administration, Masaryk University, Žerotínovo nám. 617/9, 601 77 Brno, Czech Republic Title: On Measuring Countries' Innovation Performance: Organisational Level Perspective Abstract: Innovation performance of countries is an important input for the governmental policy-making. However, currently popular rankings such as Eurostat's Summary Innovation Index instil one-approach-fits-all perspective by clearly specifying success conditions without considering contingency factors that make each country's situation unique. Our aim is to contrast current approach for innovation performance measurement on both country and organisational levels. We believe that the organisational level perspective can offer an inspiration for a change in the country level indicators themselves. Our study raises several concerns about the current state of the country level innovation measurement, notably exclusion of a higher number of innovation process indicators and omission of specific internal and external factors of measured countries. We propose that indicators accounting for these areas would offer more a realistic and useful picture of innovation performance. Keywords: innovation performance, measurement, organisation, country, innovation index, contingency approach Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 871-881 Volume: 67 Issue: 3 Year: 2019 DOI: 10.11118/actaun201967030871 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030871.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030871.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201903-0022.txt Handle: RePEc:mup:actaun:actaun_2019067030871 Template-Type: ReDIF-Article 1.0 Author-Name: Hana Zídková Author-Workplace-Name: Department of Public Finance, University of Economics, W. Churchill sq. 4, 130 67 Prague 3, Czech Republic Author-Name: Aneta Šťastná Author-Workplace-Name: Department of Public Finance, University of Economics, W. Churchill sq. 4, 130 67 Prague 3, Czech Republic Title: VAT Collection Methods Abstract: Although, the VAT contributes significantly to tax revenues in all EU Member States, the current VAT system is vulnerable to organized fraud schemes and suffers from large scale tax evasion. The EU Member States and the European Commission are discussing new ways of VAT collection to prevent the evasive and fraudulent practices. This paper aims at the description of different VAT collection methods including their flaws and benefits that are addressed in the available literature. The conclusion is that reverse charge and split payment method are changing the character of the VAT system. The One stop shop system is lacking trust of the EU member states. Therefore, the recommendation is to improve current system by electronic means of reporting. Keywords: VAT, collection method, VAT evasion, reverse charge, split payment, one stop shop Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 883-895 Volume: 67 Issue: 3 Year: 2019 DOI: 10.11118/actaun201967030883 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030883.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967030883.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201903-0023.txt Handle: RePEc:mup:actaun:actaun_2019067030883