Template-Type: ReDIF-Article 1.0 Author-Name: Patrick Arndt Author-Workplace-Name: Department of Finance, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Zuzana Kučerová Author-Workplace-Name: Department of Finance, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Determinants of the Dividend Payout Policy of Stock Companies within the European Union Abstract: The problem-field dividend payout policy is a very complex issue. Particular within the low-interest phase in Europe, the significance of this issue is growing for all investors, equal to whether private or institutional investors. The aim of this study is to research the European area to provide a contribution to a region, which, unfortunately, has given sparse attention in the past. In order to ensure the relevance for this exploration, the major European stock index Euro Stoxx 600 has been used. The results of the multiple linear regression show the unequal dividend distribution between stock companies from the industrial sector and the service sector. Besides, it has shown that institutional investors play as well a significant role within the dividend policy in European public companies. Furthermore, the net income of a corporation influenced in all previous analysis the dividend reimbursement, which could be confirmed through this paper as well. Regarding the previous studies, this paper provides an additional source for further studies which also occupy with this complicated question. Keywords: dividend payout policy, Euro Stoxx 600, European Union, stock companies Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1515-1524 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061515 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061515.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061515.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0013.txt Handle: RePEc:mup:actaun:actaun_2019067061515 Template-Type: ReDIF-Article 1.0 Author-Name: Roxana Hinzmann Author-Workplace-Name: Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Martina Rašticová Author-Workplace-Name: Department of Law and Social Sciences, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Jakub Šácha Author-Workplace-Name: Department of Statistics and Operation Analysis, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Factors of Employee Engagement at the Workplace. Do Years of Service Count? Abstract: This article deals with employee engagement in SMEs when the employee's years of service are taken into consideration. The aim of the paper is to show if seniority influences engagement and if there are further factors that have major impact on employee engagement. To fulfill the aim quantitative methodology was applied. It is based on the analysis of data that derives from an engagement survey that was conducted in 2017 with 70 SMEs globally that belong to the mechanical engineering industry. The sample consists of 5,078 employees that participated in the engagement survey. The survey was standardized based on the engagement model from Aon Hewitt and consisted of 74 questions. The organizational structure of the different legal entities is similar due to the common industry and types of employees who are mainly Service and Sales representatives. This also leads to a similar HR strategy and allows to compare the results. The data from the engagement survey was analyzed with IBM SPSS software that provided the regression analysis. The results indicate that the construct of employee engagement is complex and there is not only one influencing variable. However, seniority does have an impact. The engagement of recently hired employees is around 27% higher than for employees with higher seniority. Additionally, employees with a high seniority show less interest when it comes to rewards and recognition. Keywords: employee engagement, generations at the workplace, human resources Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1525-1533 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061525 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061525.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061525.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0014.txt Handle: RePEc:mup:actaun:actaun_2019067061525 Template-Type: ReDIF-Article 1.0 Author-Name: Josef Jablonský Author-Workplace-Name: Department of Econometrics, Faculty of Informatics and Statistics, University of Economics, Prague, W. Churchill Sq. 4, 13067 Praha 3, Czech Republic Title: Data Envelopment Analysis Models in Non-Homogeneous Environment Abstract: Data envelopment analysis (DEA) is a non-parametric method that is widely used for relative efficiency and performance evaluation of the set of decision-making units (DMUs). It is based on maximization of a weighted sum of outputs produced by the unit under evaluation divided by the weighted sum of inputs of the same unit, and the assumption that this ratio for all other units has to be lower or equal to 1. An important assumption for applications of DEA models is the homogeneity of the units. Unfortunately, the homogeneity assumption is not fulfilled in many real applications. The paper deals with the analysis of efficiency using DEA models in the non-homogeneous environment. One of the problems lies in non-homogeneous outputs. In this case, the units under evaluation spend the same inputs but produce completely or at least partly different set of outputs. The paper formulates several models how to deal with this problem and compares the results on a numerical example. Other main sources of non-homogeneity are discussed as an excellent possible starting point for future research. Keywords: data envelopment analysis, non-homogeneous units, missing data, efficiency, performance Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1535-1540 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061535 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061535.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061535.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0015.txt Handle: RePEc:mup:actaun:actaun_2019067061535 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Kostelník Author-Workplace-Name: Department of Informatics, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Ivo Pisařovic Author-Workplace-Name: Department of Informatics, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: Mikuláš Muroň Author-Workplace-Name: Department of Informatics, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: František Dařena Author-Workplace-Name: Department of Informatics, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Author-Name: David Procházka Author-Workplace-Name: Department of Informatics, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Chatbots for Enterprises: Outlook Abstract: Chatbots are going to be the main tool for automated conversations with customers. Still, there is no consistent methodology for choosing a suitable chatbot platform for a particular business. This paper proposes a new method for chatbot platform evaluation. To describe the current state of chatbot platforms, two high-level approaches to chatbot platform design are discussed and compared. WYSIWYG platforms aim to simplicity but may lack some advanced features. All-purpose chatbot platforms require extensive technical skills and are more expensive but give their users more freedom in chatbot design. We provide an evaluation of six major chatbot solutions. The proposed method for the chatbot selection is demonstrated on two sample businesses - a large bank and a small taxi service. Keywords: chatbot, conversational agent, natural language processing, conversational commerce, intelligent assistant, customer relationship management, chatbot market overview Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1541-1550 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061541 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061541.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061541.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0016.txt Handle: RePEc:mup:actaun:actaun_2019067061541 Template-Type: ReDIF-Article 1.0 Author-Name: Radka MacGregor Pelikánová Author-Workplace-Name: Metropolitan University Prague, Dubečská 900/10, 100 31 Prague 10, Czech Republic Author-Name: Eva Daniela Cvik Author-Workplace-Name: Metropolitan University Prague, Dubečská 900/10, 100 31 Prague 10, Czech Republic Author-Name: Robert MacGregor Author-Workplace-Name: Metropolitan University Prague, Dubečská 900/10, 100 31 Prague 10, Czech Republic Title: Qualified Electronic Signature - eIDAS Striking Czech Public Sector Bodies Abstract: Electronic IDentification, Authentication and trust Services ("eIDAS") is a standardized system for trustworthiness, effectiveness and efficiency. Since 2018, Czech public sector bodies have to use qualified electronic signatures when officially acting via electronic documents. This calls for a pioneering study entailing three purposes: (i) to identify provisions set by the EU law and Czech law of this duty and to interpret them, (ii) to study and assess how this duty is materialized and observed while using a pioneering Czech micro case study and (iii) to discuss and compare the yielded results with the status quo in other EU member states. A multi-disciplinary and multi-jurisdictional research of primary and secondary sources is performed along with a Czech micro case study exploring the readiness, implementation and consequences of this new duty on five Czech public sector bodies - Prague municipalities. The qualified electronic signature is a reality in the EU, but its standardized use is welcome and materialized with varying intensities. Keywords: eIDAS, qualified electronic signature, public sector body, electronic communication, digital single market Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1551-1560 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061551 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061551.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061551.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0017.txt Handle: RePEc:mup:actaun:actaun_2019067061551 Template-Type: ReDIF-Article 1.0 Author-Name: Marina Malkina Author-Workplace-Name: Center of Macro and Microeconomics, Institute of Economics and Entrepreneurship, Lobachevsky State University of Nizhni Novgorod, 23 Prospekt Gagarina, 603950 Nizhni Novgorod, Russia Title: How Change in Industry Mix Can Improve the Financial Performance of Regional Economies: Evidence from the Portfolio Approach Abstract: The aim of the study is to adapt the portfolio approach to optimization of the industrial structures of regional economies and to assess its results. The research is based on data of the Russian regions and federal districts in 2004-2016. The ratio of a balanced financial result to gross regional product referred to as financial return, and its volatility, called financial risk, were used as target parameters of regional economies. The application of the portfolio approach allowed us to evaluate financial return and risk in the regions and districts and decompose them by industries. Further, we solved three optimization problems: maximization of financial return at a given risk level, minimization of risk at a given return level, maximization of the Arrow-Pratt risk aversion utility function, and assessed their gains. As a result, we found that all three optimizations were often accompanied by a certain re-specialization of regional economies, rather than an increase in the degree of their diversification, although in the regions the situation was significantly different. For the federal districts, we identified a cross-regional effect that neutralized financial volatility, which can be used in re-specialization of regions within districts. Ultimately, the features and limitations of the application of the portfolio approach to the management of industrial structures of regional economies were discussed. Keywords: industrial structure of economy, financial return, financial risk, portfolio approach, optimization, economic diversification, specialization Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1561-1575 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061561 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061561.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061561.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0018.txt Handle: RePEc:mup:actaun:actaun_2019067061561 Template-Type: ReDIF-Article 1.0 Author-Name: Stanislav Mokrý Author-Workplace-Name: Department of Marketing and Trade, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Assessing Web Surface Credibility by Generation Y: A Q Methodological Study Abstract: Online marketing includes a variety of activities. Website presentation is one of the most striking. For many business providers it is vital to have a web-site and therefore there are currently more than 1.8 billion websites on the Internet. This situation has an impact on people who access the sites in terms of problems of decision making and confidence in the credibility of the website. This article deals with so-called surface credibility and analyses research data using the Q-method. The research was conducted with 70 respondents from generation Y. 40 anonymized web pages were used as sorted variables. The web pages were divided into 8 categories: financial institutions, universities, educational institutions, travel, lifestyle, commodity search engines, e-shops, health. Four factors were extracted and described. According to our study, the design quality; previous experience and similarity; graphical elements, website layouts and institutional framework are main elements playing the key role when assessing web surface credibility by generation Y. The main contribution of this article lays in its methodological approach by using Q-method in the innovative context of analysing web sites. Keywords: web credibility, Q methodology, marketing communication Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1577-1585 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061577 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061577.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061577.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0019.txt Handle: RePEc:mup:actaun:actaun_2019067061577 Template-Type: ReDIF-Article 1.0 Author-Name: Phuong Dung Thi Nguyen Author-Workplace-Name: Foreign Trade University, 15 - D5 street, ward 25, Binh Thanh District, Ho Chi Minh City Campus, Vietnam Author-Name: Thanh Nhan Thi Do Author-Workplace-Name: Faculty of Finance and Banking, Ton Duc Thang University, 19 Str., Tan Phong ward, District 7, Ho Chi Minh City, Vietnam Author-Name: Michael Joseph Dempsey Author-Workplace-Name: Faculty of Finance and Banking, Ton Duc Thang University, 19 Str., Tan Phong ward, District 7, Ho Chi Minh City, Vietnam Title: The Determinants of Capital Structure: New Evidence from Listed Companies in Vietnam Abstract: This study examines the factors which affect the capital structure of 608 non-financial firms in Vietnam during the period 2009-2017. Our findings indicate that companies with more tangible assets prefer longer term to shorter term debts while larger companies tend to borrow more to finance their activities. Furthermore, companies with high profit and high growth in Vietnam are able to opt for alternative options for raising capital in addition to borrowing. Overall, we recommend that capital structures in Vietnamese firms can be understood within a framework of the pecking order theory. Interestingly, audit reputation is the single considered determinant that does not appear to impact on the firms' capital structure. Keywords: capital structure, leverage, firm size, liquidity, audit reputation Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1587-1595 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061587 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061587.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061587.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0020.txt Handle: RePEc:mup:actaun:actaun_2019067061587 Template-Type: ReDIF-Article 1.0 Author-Name: Saif Siddiqui Author-Workplace-Name: Centre for Management Studies, Jamia Millia Islamia - Central University, Jamia Nagar, New Delhi-110025, India Author-Name: Preeti Roy Author-Workplace-Name: Centre for Management Studies, Jamia Millia Islamia - Central University, Jamia Nagar, New Delhi-110025, India Title: Predicting Volatility and Dynamic Relation Between Stock Market, Exchange Rate and Select Commodities Abstract: Commodities play a vital role in the development of emerging economies, like India. From this perspective, the study presents dynamic correlation in the prices of gold, crude oil, exchange rate and Indian stock market from April 01, 2014 to March 28, 2018. VARMA-BEKK-GARCH model is estimated for return and volatility spillovers across markets. Bidirectional returns spillover was found between Nifty and WTI and WTI and Gold pair. Whereas the bidirectional volatility spillover between Nifty and Gold pair. From the DCC-GARCH correlational analysis, Gold was found to be effective hedging commodity for Indian stock investors than Crude Oil. The asymmetric impact of shocks in covariance is observed between Nifty 50 and all other variables. The study focuses to aid investors and portfolio diversifiers while taking investment decisions. Keywords: crude oil price, exchange rate, gold price, stock market, DCC-GARCH, BEKK-GARCH, correlation Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1597-1611 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061597 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061597.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061597.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0021.txt Handle: RePEc:mup:actaun:actaun_2019067061597 Template-Type: ReDIF-Article 1.0 Author-Name: Luboš Smutka Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 00 Praha-Suchdol, Czech Republic Author-Name: Mansoor Maitah Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 00 Praha-Suchdol, Czech Republic Author-Name: Miroslav Svatoš Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 129, 165 00 Praha-Suchdol, Czech Republic Title: The Czech Agrarian Trade Comparative Advantages Distribution Based on Value and Volume Approach Abstract: In the last two decades, the Czech agrarian trade has undergone a very significant transformation. It had been considerably influenced by several dynamically developing factors, which originate not only in the area of economics, but also within the political and social sphere.The objective of this paper is to identify the roots of Czech agrarian trade competitiveness in relation to EU and non-EU countries. The results of comparative advantages analyses are discussed in relation to Czech agrarian trade nominal value and volume performance. The paper identifies the set of items when trade performance is induced by increasing volume (increasing exports in kg) and the set of items when trade performance is induced by increasing unit value performance. To accomplish the above mentioned tasks, the following methods have been applied: The LFI, RCA and TBI indices, product mapping and logarithmic decomposition. Based on individual applied methods the analyzed paper provides the results. However, Czech agricultural trade does not have comparative advantages in general (both in relation to EU and also non-EU countries), there are existing bilateral comparative advantages in the case of individual export items (non-EU: CN04, CN17, CN01, CN24, CN12, CN19, CN11, CN13 and CN18; EU: CN10, CN24, CN01, CN12, CN15, CN04, CN22, CN11, CN17, CN03, CN16, CN09, CN13 and CN14). The problems of Czech comparative advantages development in relation to the EU are constantly decreasing volume performance and decreasing unit value. On the other hand, in relation to non-EU countries, the relationship between increasing volume and value performance is more balanced and the comparative advantages are related to quality and higher added value aspects. Keywords: trade, volume, price value, coverage of imports by exports, Czech Republic, EU28, world, Non-EU countries Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1613-1625 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061613 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061613.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061613.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0022.txt Handle: RePEc:mup:actaun:actaun_2019067061613 Template-Type: ReDIF-Article 1.0 Author-Name: Gita Statnickė Author-Workplace-Name: School of Economics and Business, Kaunas University of Technology, Gedimino St. 50, LT-44239, Kaunas, Lithuania Author-Name: Asta Savanevičienė Author-Workplace-Name: School of Economics and Business, Kaunas University of Technology, Gedimino St. 50, LT-44239, Kaunas, Lithuania Author-Name: Ignas Šakys Author-Workplace-Name: Faculty of Informatics, Kaunas University of Technology, Studentų St. 50, LT-51368, Kaunas, Lithuania Title: The Relationship Between Work Engagement of Different Generations and Mobile Learning Abstract: As regards work engagement, different generations are affected by different factors. The aim of this paper is to determine whether there is a relationship between work engagement and mobile learning and whether there are significant variances between work engagement and mobile learning among different generational cohorts. Methods: Quantitative research was performed using "Individual Innovativeness Scale" developed by Hurt, Joseph and Cook (1977) and "The Mobile Learning Scale (MBC)", formed by Fatima, Ghandforoush, Khan and Masico (2017), applying the Technology Acceptance Model (TAM). The research included 231 representatives of different generations working in the organisations which used mobile learning in workplace and employed representatives of all four generations in Lithuania, EU. For statistical analysis two-way ANOVA was used, followed by post hoc pairwise comparisons (Bonferroni correction). Findings: There are significant differences in work engagement by different generations and mobile learning. Vigor, dedication and absorption were significantly affected by generation and by mobile learning. Conclusions: Generation X and Generation Y are more engaged in the workplace than Generation Z. Generation Z is more prone to using mobile learning in the workplace than Generation X and Generation Y; in comparison to other generations, the Baby Boomers are least prone to using mobile learning in the workplace. Recommendation: A focus on Generation Z mobile learning in the workplace would increase their work engagement. Keywords: work engagement, generation, different generations, mobile learning Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1627-1642 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061627 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061627.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061627.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0023.txt Handle: RePEc:mup:actaun:actaun_2019067061627 Template-Type: ReDIF-Article 1.0 Author-Name: Adam Sulich Author-Workplace-Name: Wroclaw University of Economics, Faculty of Management, Computer Science and Finance, ul. Komandorska 118/120, 53-345 Wroclaw, Poland Author-Workplace-Name: Wroclaw University of Science and Technology, Faculty of Computer Science and Management, ul. Wybrzeże Wyspiańskiego 27, 50-370 Wroclaw, Poland Author-Name: Adam Grudziński Author-Workplace-Name: Wroclaw University of Science and Technology, Faculty of Computer Science and Management, ul. Wybrzeże Wyspiańskiego 27, 50-370 Wroclaw, Poland Title: The Analysis of Strategy Types of the Renewable Energy Sector Abstract: Environmental goals can be essential for the realization of modern organization strategies, especially in the case of renewable energy sector company's development in Poland. The aim of this article is to discover different strategies formulated by Polish energy supply companies as a result of the green management. The tools to analyse this type of management and to indicate the common direction of undertaken activities are the SWOT analysis and the Hellwig's taxonometric method. These common points can be described by some factors which are related to the creation of green jobs and the reduction of environmental impact. This analytical study explains and describes possible strategies types, which were implemented in companies of studied sector. Therefore, multicriteria analysis of strategy measurement indicators method was used in this article. Performed analysis can open future research area to examine greening of other sectors. Keywords: green management, the renewable energy sector, Hellwig's method, proecological strategy, green strategy, Polish companies, green jobs Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1643-1651 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061643 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061643.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061643.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0024.txt Handle: RePEc:mup:actaun:actaun_2019067061643 Template-Type: ReDIF-Article 1.0 Author-Name: Terézia Vančová Author-Workplace-Name: Department of Statistics and Operational Analysis, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: The Excess Smoothness and Sensitivity of Consumption in the V4 Countries Abstract: This paper contributes to the debate on the Permanent Income Hypothesis (PIH) and excess consumption smoothness and sensitivity in the context of conditions in the V4 countries. This paper also shows results contrary to the belief of the Permanent Income Hypothesis/Random Walk Hypothesis that the change in consumption is an innovation which is not predictable by lagged saving or lagged income change. The paper tests the implication of the Permanent Income Hypothesis/Random Walk Hypothesis, using quarterly aggregate data for 1995-2017 in the V4 countries. A vector autoregression for saving and changes in disposable income is used to generate a forecast of declines in disposable income. As a result, when income changes abruptly, the resulting change in consumption is much smoother and conversely, when changes in income are anticipated, consumption responds sensitively. The aggregate consumption is both excessively smooth relative to the new information causing consumers' revision of previous expectations about current and future income, and excessively sensitive to lagged income growth. Keywords: consumption expenditure, disposable income, excess sensitivity, excess smoothness, savings, VAR model, V4 countries Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1653-1663 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061653 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061653.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061653.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0025.txt Handle: RePEc:mup:actaun:actaun_2019067061653 Template-Type: ReDIF-Article 1.0 Author-Name: Petra Zýková Author-Workplace-Name: Department of Econometrics, Faculty of Informatics and Statistics, University of Economics, Prague, W. Churchill Sq. 4, 13067 Praha 3, Czech Republic Title: Comparison Between Data Envelopment Analysis Models with Penalties Abstract: The paper deals with Data Envelopment Analysis (DEA) models with advanced voting systems for ranking of candidates with penalties. The main aims of the system are to find a general winner and ranking of all candidates. Every voter gives the ranking of the first t-candidates and can give penalties to candidates who he/she surely does not want to vote for. Advanced voting systems are being used based on the use of data envelopment analysis models. The original contribution of the paper consists in the formulation of a new DEA/AR model with penalties. This model is derived from the DEA/AR model with penalties. The proposed models are illustrated on a simulated data set. This paper aims to compare DEA models with penalties. Keywords: data envelopment analysis, voting systems, penalty Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1665-1669 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061665 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061665.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061665.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0026.txt Handle: RePEc:mup:actaun:actaun_2019067061665 Template-Type: ReDIF-Article 1.0 Author-Name: Roman Teichert Author-Workplace-Name: Department of Management, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech Republic Title: Digital Transformation Maturity: A Systematic Review of Literature Abstract: The goal of this paper is to present contemporary developments in the field of digital maturity models. By conducting a systematic literature review finally 24 relevant studies including 22 different models were identified and various characteristics of different digital maturity models were extracted. Focus was placed on the dimensions used to measure digital maturity in different model approaches. Special light was shed on organizational culture and to what extent it is represented in the models. Among other things, the findings indicate, that dimensions applied in various models can be very different and that just a few models incorporate transformational in addition to digital capabilities. In particular, organizational culture as a dedicated dimension of digital maturity is represented already in a few models, which indicates the growing importance of culture as an enabler of digital transformation efforts. Beside a comprehensive overview of the most widely used dimensions measuring digital maturity, a synthesis of the most frequently addressed cultural attributes is presented in this paper as well. This review finally reveals that most of the existing models give an incomplete picture of digital maturity, that cultural attributes reflecting a digital culture are not integrated systematically, and that digital maturity models specific to the domain of services are clearly under-represented. It also clearly demonstrates that research about digital transformation maturity as a holistic concept is scarce and needs more attention by research in the future. Keywords: systematic literature review, digital transformation, digital maturity, digital maturity models, digital transformation maturity, digital culture Journal: Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis Pages: 1673-1687 Volume: 67 Issue: 6 Year: 2019 DOI: 10.11118/actaun201967061673 File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061673.html File-Format: text/html File-URL: http://acta.mendelu.cz/doi/10.11118/actaun201967061673.pdf File-Format: Application/pdf X-File-Ref: http://acta.mendelu.cz/RePEc/mup/references/acu-201906-0027.txt Handle: RePEc:mup:actaun:actaun_2019067061673