Template-Type: ReDIF-Article 1.0
Author-Name: Tereza Miková
Title: Influence of IFRS on Earnings Manipulation: Evidence from the European Union
Abstract: Abstract: This paper analyzes the infl uence of one uniform accounting rule on accounting quality by investigating the effect of IFRS on earnings management. The paper examines whether IFRS adoption is associated with lower earnings manipulation measured by discretionary accruals, a commonly used method. It focuses on European Union membership among countries with both the common-law tradition and the code-law tradition. It investigates a sample of 603 companies (10,251 fi rm-year observations) during the years 1992-2013. The fi nding contributes to current accounting debate with the empirical evidence that earnings management did not decline after IFRS adoption. In the European Union itself, the research sample contains a very little portion of companies which show increased reporting quality, more precisely earnings management, on IFRS. Overall, the results do not support the assumption that IFRS have an improving impact on reporting quality and demonstrate that other relevant factors should be considered in creating more effi cient capital markets.
Keywords: accounting quality, discretionary accruals, earnings management, earnings manipulation, international fi nancial accounting standards.
Classification-JEL: G38, M41
Pages: 3-18
Volume: 2014
Issue: 6
Year: 2014
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=455.pdf
File-URL: http://www.vse.cz/aop/455
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:455:p:3-18

Template-Type: ReDIF-Article 1.0
Author-Name: Pavel Neumann
Title: The US Competitiveness: Definition, Factors, New Opportunities (Case of Shale Gas)
Abstract: Using the example of the USA, the article deals with the issue of competitiveness. It defi nes various approaches to this phenomenon and analyses its individual factors. Additionally, it focuses on the differences in the USA evaluation with regards to their competitiveness in “external” and “internal” dimension. Furthermore, the paper tries to asses the growing infl uence of the U.S. new production factor: shale gas utilization. The cheap gas could play an important role by cost reduction. Based on the Global Competitiveness Index the country competitiveness has decreased, e.g. measured by the export performance of knowledge-intensive branches. However, the new economic sources, such as shale gas, promise progress in the restoration and changes of production. Nevertheless, in author’s opinion the general cost reduction of manufacturing production itself with utilizing shale gas is not suffi cient. To achieve the real effi ciency and competitiveness growth in the USA the positive cost effects need to be projected into the development of the knowledge-intensive branches as well as into their product export.
Keywords: competitiveness, USA,, shale gas
Classification-JEL: O14
Pages: 19-34
Volume: 2014
Issue: 6
Year: 2014
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=456.pdf
File-URL: http://www.vse.cz/aop/456
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:456:p:19-34

Template-Type: ReDIF-Article 1.0
Author-Name: Martin Schmidt
Title: Fines for Administrative Offences in Public Procurement: An Econometric Model
Abstract: This paper examines the fi nes for administrative offences in public procurement to consider whether their extent can be explained using an econometric approach. These fi nes, in the Czech Republic, are imposed by the Offi ce for the Protection of Competition. The Public Procurement Act specifi es only the maximal level of the fi ne, however, its actual value depends on the discretion of the Offi ce. This paper analyses the decisions of the Offi ce since 2010 and using multiple linear regression tries to explain the amount of fi nes. The study examines the signifi cance of parameters such as the size of the contracting authority, the type of award procedure, the number of administrative offences and their nature or the value of the procurement. Moreover, the study identifi es which of the parameters are the best to estimate the fi nes and what accuracy this model achieves.
Keywords: public procurement, administrative offence, award procedure, fine
Classification-JEL: D73, H57
Pages: 35-50
Volume: 2014
Issue: 6
Year: 2014
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=457.pdf
File-URL: http://www.vse.cz/aop/457
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:457:p:35-50

Template-Type: ReDIF-Article 1.0
Author-Name: Michal Pícl
Author-Name: Petr Richter
Title: The Minimum Wage and Its Impact on Unemployment in the Czech Republic
Abstract: Minimum wage remained unchanged for many years. Politicians and even a large part of the business sector could not agree with previously spoken rule that raising the minimum wage has a negative impact on the overall unemployment rate of the country. The article therefore initially concentrated on the development of the minimum wage in the Czech Republic, its comparison with other European Union member states and tries to fi nd the answer by empirical methods whether the raising of the minimum wage in the Czech Republic has a really economic impact on the unemployment in this country.
Keywords: unemployment, minimum wage, average wage, labor, wage
Classification-JEL: J31, J38, J64
Volume: 2014
Issue: 6
Year: 2014
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=458.pdf
File-URL: http://www.vse.cz/aop/458
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:458

Template-Type: ReDIF-Article 1.0
Author-Name: Iva Pecáková
Title: Problem of Missing Data in Questionnaire Surveys
Abstract: Almost any data set can be encountered to the problem of missing data; it is well known in the phenomena relating to people populations and researched in sample surveys. In recent decades, the issue of missing data received considerable attention, because the simple omission of units, for which data are lacking, from the analysis may lead to erroneous conclusions. The approach that accepts the existence of missing data through the modifi cation of the probabilities of units selection with probabilities of obtaining data on them, leads to the construction and use of the weights. Different solution lies in fi lling in missing data. Using the arithmetic mean or a regression function, recommended for this purpose before, leads at the relevant variables at least to an underestimation of variability; furthermore, it is applicable only for measurable variables. Alternative approaches to missing data are based on the likelihood of collected data assuming some model. Two directions of their development can be distinguished again, estimating population parameters without imputation of missing data on the one hand (EM algorithm) and multiple imputation methods on the other.
Keywords: sample surveys, missing data, categorical data, data imputation
Classification-JEL: C10, C18, C83
Pages: 66-78
Volume: 2014
Issue: 6
Year: 2014
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=459.pdf
File-URL: http://www.vse.cz/aop/459
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:459:p:66-78

Template-Type: ReDIF-Article 1.0
Author-Name: Věra Höppnerová
Title: Compound Adjectives in Business German in Names of Product Properties
Abstract: In German, compounding is a very productive type of word formation used for creating names of product properties. Circa 500 compound adjectives are divided into five structural groups. The frequency of both constituents of compound adjectives is examined, and their semantic relationships are characterized. The individual structural types are assigned Czech equivalents, in which compound adjectives are relatively rare. The most frequent counterparts are phrases whose core - an adjective - is determined by an adverb, a noun or a prepositional phrases in apposition.
Keywords: Czech equivalents, compound adjectives, their structural groups, their semantic relationships
Classification-JEL: Z19
Pages: 79-89
Volume: 2014
Issue: 6
Year: 2014
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=460.pdf
File-URL: http://www.vse.cz/aop/460
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:460:p:79-89
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/460

Template-Type: ReDIF-Article 1.0
Author-Name: Martin Janíčko
Author-Name: Pavel Janíčko
Title: Utilitarianism According to John Stuart Mill
Abstract: The article discusses utilitarianism in the form elaborated by John Stuart Mill. Although utilitarianism has been variously employed by philosophers and economists, Mill is the fi gure most closely associated with this theory. His ideas deeply infl uenced economists of the 20th century and continue to shape the postulates of contemporary economics and other social sciences. We demonstrate how seminal utilitarianism was to Mill’s work, explore what infl uenced his thoughts on it, and place our analysis in the socioeconomic context of the time Mill was writing. We argue that utilitarianism has eclipsed Mill’s other contributions to economics, yet is often oversimplifi ed and has unjustly served as a platform for a more general critique of homo economicus.
Keywords: utilitarianism, social sciences, laissez-faire, classical economics, hedonism, individualism
Classification-JEL: B12, B31, B40
Pages: 90-97
Volume: 2014
Issue: 6
Year: 2014
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=461.pdf
File-URL: http://www.vse.cz/aop/461
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:6:id:461:p:90-97