European Financial and Accounting Journal, 2016 (vol. 11), issue 1

Articles

The Performance Indicators for The State Health-related Expenditures: Lessons from OECD

Jakub Haas, Eva Gajdošová

European Financial and Accounting Journal 2016, 11(1):5-22 | DOI: 10.18267/j.efaj.150  

The paper deals with the weakness of the Czech public finance - the lack of performance information. The budgeting in the Czech Republic still relies on the incremental method and omits using of performance indicators. On the contrary, most of the OECD member countries has adopted some type of performance budgeting. The paper focuses on the healthcare expenditures of the Czech state budget, analyses long-term experience with performance budgeting in the U.S.A., Australia and New Zealand. It also identifies opportunities and suggests the specific quantitative performance indicators for suitable programmes and organisations of the Ministry of Health.

Explanation of the Donor Decision-making Process in the Czech Republic through a Combination of Influences of Individual Motives

Marie Hladká, Vladimír Hyánek

European Financial and Accounting Journal 2016, 11(1):23-37 | DOI: 10.18267/j.efaj.151  

Motivation represents a foundation corestone on which analyses in a number of the humanities and social sciences are built. For a long time, economists have seen motivation as connected with the act of giving, trying to interpret it in the context of the neoclassical economics assumptions. On the basis of representative theoretical models, Ziemek (2003) distinguishes three basic categories of motives underlying the act of giving: altruism, egoism and investment. The paper follows on from the research (Hladká, Hyánek, 2015) that generated interesting outcomes and presented a comprehensive picture of the motives influencing donor behaviour in the Czech...

Rethinking Credit Risk under the Malinvestment Concept: The Case of Germany, Spain and Italy

Aykut Ekinci

European Financial and Accounting Journal 2016, 11(1):39-63 | DOI: 10.18267/j.efaj.152  

This study argues that increasing malinvestment in an economy raises the actual credit risk but not the calculated credit risk until the onset of a recession. To this end, I analyse the relationship between credit risk and malinvestment in Germany, Spain, and Italy using a credit risk indicator based on nonfinancial corporate bond yields and annual loan growth for nonfinancial corporations from January 2004 to November 2014 on a monthly basis. The study also analyses Italy using sectorial non-performing loans data since Italy was the most affected by malinvestment among the countries in question. As a result, this paper suggests that banks should include...

Usability of Methodology from the USA for Measuring Effect of Corporate Tax on Organizational Form in the Czech Republic

Petr Svoboda

European Financial and Accounting Journal 2016, 11(1):65-75 | DOI: 10.18267/j.efaj.153  

The goal of this paper is to examine the methodology, used by authors Mackie-Mason and Gordon for measuring effects of corporate tax on business organization form, which is connected to issue of double taxation, in the United States and find out, if the same approach can be applied on business environment in the Czech Republic. Eventually recommend changes for this methodology to be more suitable for this environment taking into account its specific factors.