Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2014 (vol. 62), issue 2
Measurement of Effectiveness of Personal Income Tax in the Tax System of the Czech Republic
Břetislav Andrlík
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 307-314 | DOI: 10.11118/actaun201462020307 
This article deals with the issues of effectiveness of personal income tax in the Czech Republic. The personal income tax in the Czech Republic, referred to as the tax on income of natural persons, represents a significant part of the public budget revenue (23.35% of all tax revenues in 2012). One of the principles of a good tax system is the principle of its effectiveness. The effectiveness of a particular tax is measured by various methods. The theory distinguishes between two types of costs expended on the collection of taxes, i. e. administrative costs (direct or indirect) and excessive tax burden. In the case of direct administrative costs the...
Universal Style Sheet Language Environment Modification for the Business Use
Jiří Brázdil, Jiří Šťastný
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 315-320 | DOI: 10.11118/actaun201462020315
This paper deals with the description of USSL - Universal Style Sheet Language environment. USSL style sheet language is platform-independent and its primary focus is the declarative notation of the appearance of GUI libraries used by imperative programming languages. The implementation of the software support for wxWidgets library is made, because this library has no support for the separate declarative notation of the appearance via style sheet language. The separation of the appearance enables us to reuse and standardize the appearance notation and the independent development of the appearance. In this way it is possible to achieve consistent appearance...
Determinants of International Migration: The Nigerian Experience
Samuel Antwi Darkwah, Nahanga Verter
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 321-327 | DOI: 10.11118/actaun201462020321
This paper examines some determinants of international migration in Nigeria using annual time series data spanning the period 1991-2011. Using ordinary least square regression method, the results indicate that the level of unemployment, migrants' remittances and population growth are the key determinants of emigration from Nigeria to other countries, statistically significant at 0.01 level.In a country where unemployment rate is very high, this movement is likely to help in reducing pressures on the labour market. Migrants' remittances might also help in alleviating poverty within households. Migrants' remittance to Nigeria has surpassed both Foreign...
Holding Company and Its Performance
David Ficbauer, Mária Režňáková
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 329-337 | DOI: 10.11118/actaun201462020329
Research projects on the performance of companies search for the relationships between the methods of managing a company and the results. This paper presents a research on holding companies. The aim is to analyse the reasons for and purposes of holding companies being established and the advantages they may bring to the owners trying to find out whether the level of association between the companies influences their performance. The research was carried out in two stages. First a questionnaire enquiry was made with interviews and, subsequently, financial ratios were quantified and their correlation investigated with the extent of efficient cash flow...
Viticulture - Challenge for Tourism Development (Znojmo Case Study Area)
Miroslav Foret, Ondřej Konečný, Petr Klusáček
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 339-346 | DOI: 10.11118/actaun201462020339
The article, which deals with the issue whether the viticulture can be the challenge for tourism development, is based on research conducted in Znojmo case study area (the Czech Republic). It starts with general introduction of wine tourism concept based on the selected results of the previous scientific researches. The second part of the article brings description of the methods and brief characterisation of case study area. The third part pays attention to the analyses of the selected statistical data showing importance of viticulture for the case study area. The main fourth part is focused on selected activities which are connected with projects...
Roe in Turbulent Time
Patrizia Gazzola, Stefano Amelio
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 347-353 | DOI: 10.11118/actaun201462020347
The aim of the paper is to compare the utility of the net income (NI) and of the comprehensive income for the evaluation of financial performance of the company and to verify whether the total comprehensive income (TCI) is more value relevant than the net income especially in times of crisis (IAS 1, par. 5).The Financial Accounting Standards Board (FASB) has continued to emphasize a financial measure called other comprehensive income (OCI) as a valuable financial analysis tool. The FASB's goal is to issue guidance to improve the comparability, the consistency and the transparency of financial reporting. Especially in the period of financial crises,...
Business Intelligence in Environmental Reporting Powered by XBRL
Michal Hodinka, Michael Štencl, Jiří Hřebíček, Oldřich Trenz
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 355-362 | DOI: 10.11118/actaun201462020355
Today, companies are handling increasing amounts of transactional data. This phenomenon commonly named as "Big Data", has transformed from a vague description of massive corporate data to a household term that refers to not just volume but the diversity of data and velocity of change. Commonly used approach leads to usage of Business Intelligence (BI) technologies used not only to environmental reporting purposes, but also used for a data discovery discipline. The critical issue in general data processing tasks is to get the right information quickly, near to real time, targeted, and effectively.This article aims on several critical points of the...
Capital Structure in Start-up Firms in the Conditions of the Czech Economy
Gabriela Chmelíková, Kristina Somerlíková
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 363-372 | DOI: 10.11118/actaun201462020363
The aim of this article is to characterise the form of capital structures in start-up companies in the Czech economy and to identify what determines them. The choice of theme for this research was motivated by the important role that start-up companies have played in the development of economies especially in its contribution to employment, while having a low empirical understanding of the structure of capital resources of the firms. In this contribution, we have managed to identify the average form of the capital structures of start-up companies in the Czech economy. Moreover, they were in keeping with the Trade-Off Theory of Capital Structure testing...
The Interaction of Monetary and Fiscal Policy in the Countries of the Visegrad Group
Jan Janků, Stanislav Kappel
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 373-381 | DOI: 10.11118/actaun201462020373
Coordination of or at least absence of conflict between monetary and fiscal policies are key to the successful implementation of economic policy. The article aims to use reaction functions to assess whether the monetary and fiscal policies in the countries of the Visegrad Group are in coordination or in conflict and which variables influence their decisions. The central bank is the representative of monetary policy, which has interest rates as its instrument, and the government as the representative of the fiscal policy which has change revenue or spending as a share of GDP as instrument. To obtain the results, multivariate regression analysis is used....
Generalized Linear Models in Vehicle Insurance
Silvie Kafková, Lenka Křivánková
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 383-388 | DOI: 10.11118/actaun201462020383
Actuaries in insurance companies try to find the best model for an estimation of insurance premium. It depends on many risk factors, e.g. the car characteristics and the profile of the driver. In this paper, an analysis of the portfolio of vehicle insurance data using a generalized linear model (GLM) is performed. The main advantage of the approach presented in this article is that the GLMs are not limited by inflexible preconditions. Our aim is to predict the relation of annual claim frequency on given risk factors. Based on a large real-world sample of data from 57 410 vehicles, the present study proposed a classification analysis approach that addresses...
The Proposal of the Changes in the Taxation of Income of the Non-profit Organizations
Milena Otavová
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 389-396 | DOI: 10.11118/actaun201462020389
The paper is focused on the issue of the taxation of incomes of the non-governmental non-profit organizations, especially the civic associations in the conditions of the Czech Republic and in the selected countries of the European Union (Austria, Slovakia, Germany). The main emphasis is put on the comparison of the corporate income tax of the studied countries. Particularly the tax benefits that are provided to the non-profit organizations in the individual countries are compared here. This paper points to the current situation in the Czech Republic, where there is no clear legislation that would regulate the activities by the studied organizations....
Practical Application of Art. 9 OECD Model Convention: the Czech Republic
Veronika Solilová
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 397-403 | DOI: 10.11118/actaun201462020397
All transfer prices determined between the associated enterprises must comply with the arm's length principle. The arm's length principle for associated enterprises is mentioned in Art. 9(1) of the OECD Model Convention, which was also adopted by the OECD Member states into their national law. However, not all OECD Member states adopted the next part of Art. 9, namely Art. 9(2), with the same way, some of them, like the Czech Republic, entered a reservation on Art. 9 (2) OECD Model Convention. In this paper the practical application of Art. 9 is analyzed from the point of view of the Czech Ministry of Finance, where the corresponding adjustment and...
Economic and Social Potential of Family-supporting Services, Limits and Challenges
Peter Thijs
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 405-412 | DOI: 10.11118/actaun201462020405
Due to the increase of the economic pressure on households, it is increasingly more difficult to balance family life and economic activity. Reasons for this evolution can be the increased labour market participation of women, the ageing of the population to name a few. Within the EU, different systems to offer assistance in creating a balanced social and economically active life have been established in numerous countries. However, the aims, results and general scope of these national policies differ.The main focus of this paper will be the Belgian situation, i.e. the voucher system (services cheques). Starting with a general view of the reasons...
Transparency of Shareholders in the Czech Republic
Jindřiška Šedová
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 415-426 | DOI: 10.11118/actaun201462020415
The recodification of commercial and civil law in the Czech Republic has resulted in a new concept for the legislation relating to securities. Significant changes have also been made to the legislation covering shares. The new legislation concerns not only the actual form of shares, but also their circulation. The aim of this article is to highlight the most important changes in the legislation relating to bearer shares, especially bearer shares in paper form, and to assess these changes from the viewpoint of their impact on the transparency of joint stock companies and uncontrolled circulation of shares. This assessment will be based on an appraisal...
Liquidity Risk Sensitivity of Czech Commercial Banks
Pavla Vodová
Acta Univ. Agric. Silvic. Mendelianae Brun. 2014, 62(2), 427-436 | DOI: 10.11118/actaun201462020427
The recent financial crisis has shown that a liquidity risk plays an important role in the current developed financial system. One of the efficient tools of liquidity risk management is stress testing which can show banks their potential vulnerability to liquidity shocks. The aim of this paper is therefore to measure the liquidity risk sensitivity of Czech commercial banks and to find out the most severe scenario and the most vulnerable bank. Our sample included significant part of the Czech banking sector; we used unconsolidated balance sheet data over the period from 2000 to 2011 which were obtained from annual reports of Czech banks. We have evaluated...