Template-Type: ReDIF-Article 1.0 Author-Name: Jan Vlachý Title: Measuring the Effective Tax Burden of Lifetime Personal Income Abstract: This paper designs and tests a comprehensive model, solved by statistical simulation, which describes and quantifies the effect of the tax system and lifelong income characteristics on the effective tax burden of a population or its segment. In the present application the model is structured and calibrated to analyse the category of employed persons in the Czech Republic. The Czech tax and levy system is shown to be mildly progressive, with a steep digression for very high incomes. It is also shown how the initial income endowment, lifelong income volatility and the minimum wage level impact the structure of effective tax rates, as well as expected unemployment. Keywords: Personal income, Lifetime tax burden, Statistical simulation Classification-JEL: C51, H21, H24, J31 Pages: 5-14 Volume: 2015 Issue: 3 Year: 2015 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=142.pdf File-URL: http://www.vse.cz/efaj/142 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2015:y:2015:i:3:id:142:p:5-14 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/142 Template-Type: ReDIF-Article 1.0 Author-Name: Shaen Corbet Author-Name: Cian Twomey Title: European Equity Market Contagion: An Empirical Application to Ireland’s Sovereign Debt Crisis Abstract: This paper examines the time-varying conditional correlations of daily European equity market returns during the Irish sovereign debt crisis. A dynamic conditional correlation (DCC) multivariate GARCH model is used to estimate to what extent the collapse of Irish equity markets and subsequent troika intervention in Ireland spilled over upon European equity markets during this crisis. During the Irish financial crisis from 2007 to 2010, strong contagion effects are uncovered between Irish equity markets and the investigated European equity markets. The contagion effects are found to ease dramatically in the period after troika intervention in Irish finances. This result supports the use of bailouts and external financial intervention as a mechanism to mitigate and absorb contagion associated with state-specific financial crises and if possible, should be considered as a primary response function in future cases of sovereign debt crisis. Keywords: Dynamic correlation, DCC GARCH, Contagion, Financial crises, Bailouts, Equity markets Classification-JEL: G01, G12, G15 Pages: 15-34 Volume: 2015 Issue: 3 Year: 2015 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=143.pdf File-URL: http://www.vse.cz/efaj/143 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2015:y:2015:i:3:id:143:p:15-34 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/143 Template-Type: ReDIF-Article 1.0 Author-Name: Olga Starenka Title: Influence of Development of the Organization of the Operational Accounting and Control on the Enterprises’ Management of Machine-Building in Ukraine Abstract: The article considers the operational management system of machine-building enterprises in Ukraine under the conditions of interpenetration of accounting and control functions and their deep integration due to shift of the control centres with the centres of operational decision-making. It has been proved that control timely influences behaviour and conditions of economic objects using target indicators, norms and regulations, estimates and the data of operational accounting, thus it takes active part in shaping the final results of running the enterprise. This explains its importance in the operational management system. It has been considered that the conditions of economic activity of industrial enterprises are changing intensively under the influence of internal and external factors, which determines the requirement to obtain operational information about the enterprise performance and the achieved results of each department. This is possible due to operational accounting, which must be systemic and cover all business processes, since it influences the functioning of the whole system as the information base for monitoring, and its results constitute the basis for timely decision-making in management. It is proved that well organized system of the accounting and control allows not only to detect in due time shortcomings of the industrial enterprise activity, but also to carry their expeditious elimination out and to prevent their manifestations in the future. Keywords: Management, Operational accounting, Operational control Classification-JEL: M41, M42 Pages: 35-44 Volume: 2015 Issue: 3 Year: 2015 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=144.pdf File-URL: http://www.vse.cz/efaj/144 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2015:y:2015:i:3:id:144:p:35-44 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/144 Template-Type: ReDIF-Article 1.0 Author-Name: Veronika Solilová Author-Name: Danuše NERUDOVÁ Title: Sixth Method as a Simplified Measurement for SMEs? Abstract: In December 2014, OECD issued a Discussion Draft on Transfer Pricing aspects of cross-border commodity transactions through BEPS action 10, where the adoption of the sixth method in the form of the quoted commodity price and its adjustments were primarily driven as a starting point for transfer pricing purpose. In this paper the analysis of the proposed sixth method and the experience with the sixth method in Argentina were used for the consideration whether this method can be used as simplified measurement for SMEs. SMEs are facing tax obstacles mainly in the area of the international taxation which impede in cross border transactions and internationalization of SMEs. One of tax obstacles represent transfer pricing. Its costs can be disproportionately large for SMEs in comparison to LSEs. Moreover, SMEs are not able to bear the high administrative burden to comply with the transfer pricing rules as they do not posses the sufficient human and economic capital. Based on the results of the research, we can concluded, that there are a lot of questions related to the proposed sixth method, notwitstanding, it has a potential to be a new method for SMEs for they need to face lower tax administrative burden in the area of transfer pricing issues. Keywords: Transfer pricing, Sixth method, SMEs, Simplified measurements, BEPS Classification-JEL: H25, H26 Pages: 45-61 Volume: 2015 Issue: 3 Year: 2015 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=145.pdf File-URL: http://www.vse.cz/efaj/145 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2015:y:2015:i:3:id:145:p:45-61 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/145