Template-Type: ReDIF-Article 1.0 Author-Name: Ajtene Avdullahi Author-Name-First: Ajtene Author-Name-Last: Avdullahi Author-Email: ajtene.avdullahi@umib.net Author-Workplace-Name: Faculty of Economics, University of Mitrovica "Isa Boletini" Author-Name: Avdullah Hoti Author-Name-First: Avdullah Author-Name-Last: Hoti Author-Email: avdullahi.hoti@uni-pr.edu Author-Workplace-Name: Faculty of Economics, University of Prishtina Title: The search for determinants of Kosovan Small and Medium Enterprises performance Abstract: The main purpose of this study is to identify determinants of SMEs performance, followed by the impact of Information Technology on SMEs profitability. By reviewing the existing literature and using the secondary data, this paper empirically investigates the determinants of SMEs growth in Kosovo; the fundamental obstacles faced by SMEs in Kosovo; the impact of Information Technology on SMEs performance and, it proposes strategies and measures to maximise Information Technology adoption from Kosovan SMEs. For the research purpose in this paper are used the secondary data gathered from Business Support Center Kosovo, who developed a survey from 500 SMEs in Kosovo. The combination of the variables related to entrepreneur, firm, business environment and IT adoption in a logit regression model suggest that entrepreneurs age, business age, introduction of any new method of marketing other than existing in the market for products/services during last three years from the firm are significant, whereas Internet use from SMEs resulted the most significant variable for SMEs profitability. Classification-JEL: L25, L26, M15 Keywords: Business obstacles, Entrepreneur?s related factors, Firm?s related factors, Information Technology, Internet, SMEs profitability Journal: International Journal of Economic Sciences Pages: 1-22 Volume: 9 Issue: 2 Year: 2020 Month: December File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25603 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25603?download=1 Handle: RePEc:sek:jijoes:v:9:y:2020:i:2:p:1-22 Template-Type: ReDIF-Article 1.0 Author-Name: Egidijus Bikas Author-Name-First: Egidijus Author-Name-Last: Bikas Author-Email: egidijusvln@gmail.com Author-Workplace-Name: Vilnius University Author-Name: Rolandas Sakalauskas Author-Name-First: Rolandas Author-Name-Last: Sakalauskas Author-Email: rol.sakalauskas@gmail.com Author-Workplace-Name: Vilnius University Title: Taxpayer?s Behavior in the Changing Tax Policy Abstract: The aim of the article is to identify the factors determining the taxpayer?s behavior, to evaluate Lithuanian taxpayer?s behavior by changing tax policy of VAT. The article investigates whether the increase of VAT burden in Lithuania has a significant impact on taxpayer?s behavior, encouraging them to voluntarily pay taxes or avoid tax liabilities. The research period is from Q1 2000 - Q4 2016. The study uses VAT gap data. Research methods: correlation analysis, vector auto regression (VAR) model. The use of correlation analysis allows to establish the relationship between tax rates and changes in taxpayer?s behavior, while the vector auto regressive method allows to investigate taxpayer?s behavioral responses to the changes of tax rate. According to the responses of the impulse functions, the response of taxpayer?s behavior (tax avoidance) to the changes in tax policy is determined. The investigation showed, that in the short term, the increased tax burden may lead to decrease of VAT gap, in the medium term an increase in tax burden on VAT may increase the level of tax avoidance in the country. Classification-JEL: G39, H20, H26 Keywords: Taxation, tax behavioral, tax avoidance Journal: International Journal of Economic Sciences Pages: 23-38 Volume: 9 Issue: 2 Year: 2020 Month: December File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-116813 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-116813?download=2 Handle: RePEc:sek:jijoes:v:9:y:2020:i:2:p:23-38 Template-Type: ReDIF-Article 1.0 Author-Name: Bozena Kaderabkova Author-Name-First: Bozena Author-Name-Last: Kaderabkova Author-Email: bozena.kaderabkova@vse.cz Author-Workplace-Name: University of Economics in Prague, Fakulty of Economics Author-Name: Emilie Jasova Author-Name-First: Emilie Author-Name-Last: Jasova Author-Email: ekonomka_2@hotmail.com Author-Workplace-Name: University of Economics in Prague, Fakulty of Economics Author-Name: Robert Holman Author-Name-First: Robert Author-Name-Last: Holman Author-Email: robert.homan@seznam.cz Author-Workplace-Name: Economic University in Prague Title: Analysis of substitution changes in the Phillips curve in V4 countries over the course of economic cycles Abstract: The aim of the article is to determine the nature and intensity of the slope of the Phillips curves (PCs) for the workers vulnerable to unemployment in the individual phases of the economic cycle between 2000 and 2016 in the Visegrad Group (V4). We use linear regressions to substitute the household deflator of unemployment. In order to avoid a reduction in the number of observations and to reduce the validity of the estimates, which is characteristic of the Break model, we modify the one-year model of the categorical variable phase of the cycle. The results obtained are compared with the findings of international authors. Throughout the monitored period, a statistically significant negative slope of the PC was found in all V4 countries, with the highest intensity in the Czech Republic and the lowest in Hungary. The extrapolation of the trend of the current development of the phases of the economic cycle indicates the growth of the statistically confirmed negative slope of the PC in the Czech Republic, its return to Slovakia, its origin in Hungary and the return of positive inclination in Poland. Classification-JEL: E24, E32, E37 Keywords: Phillips curve, unemployment rate by gender, age and education, phase of the economic cycle, countries of V4 Journal: International Journal of Economic Sciences Pages: 39-54 Volume: 9 Issue: 2 Year: 2020 Month: December File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25690 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25690?download=3 Handle: RePEc:sek:jijoes:v:9:y:2020:i:2:p:39-54 Template-Type: ReDIF-Article 1.0 Author-Name: Ichraf Ouechtati Author-Name-First: Ichraf Author-Name-Last: Ouechtati Author-Email: ouechtati.ichraf@yahoo.fr Author-Workplace-Name: Faculty of Law, Economics and Management Sciences of Jendouba Title: Institutions and foreign direct investment: A Panel VAR approach Abstract: This paper employs panel vector autoregression model (PVAR) for a panel of 90 developing countries over 17 years (2000-2016) to empirically examine the relationship between institutional shocks and foreign direct investment (FDI). The study finds that institutional shocks have a negative impacts on FDI. Generally, the effect begins to mitigate from the fourth year. This result could be explained mainly by the instability of institutional variables « Regulation of credit, labor and business » and « government size » in the case of FDI inflows and outflows. The effect is higher in the case of FDI inflows. This suggests that investors already settled in developing countries are less sensitive to institutional shocks. Also, results reveal that the negative impact of institutional shocks on net FDI is explained by the instability of legal structure and property rights and access to sound money. Classification-JEL: C14, C33, O11 Keywords: Institutions, Foreign direct investment, Panel VAR Journal: International Journal of Economic Sciences Pages: 55-70 Volume: 9 Issue: 2 Year: 2020 Month: December File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25609 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25609?download=4 Handle: RePEc:sek:jijoes:v:9:y:2020:i:2:p:55-70 Template-Type: ReDIF-Article 1.0 Author-Name: Dinis Santos Author-Name-First: Dinis Author-Name-Last: Santos Author-Email: dinis.d.santos@fe.uc.pt Author-Workplace-Name: Faculty of Economics, University of Coimbra Author-Name: Paulo M. Gama Author-Name-First: Paulo M. Author-Name-Last: Gama Author-Email: gama@fe.uc.pt Author-Workplace-Name: CeBER & Faculty of Economics, University of Coimbra Title: How do different firms perform while trading own stock? A granular analysis on specific characteristics and market conditions Abstract: Which firms are more likely to time the market? This paper uses a relative transaction price approach, focusing on 37997 own stock transactions from Euronext Lisbon listed firms, ranging from 2005 to 2015, to estimate the relationship between the market timing ability of firms and a set of firm specific characteristics. Results show that smaller, more efficient but less valuable companies are more likely to be successful to time the market. Furthermore, we show that a shifting event such as a country bailout can lead to an increased performance from firms when trading own stock. Additionally, we find proof that OTC trading can be linked to lower market timing capabilities. At last, and due to the considerable weight of the financial sector within our sample, we estimated isolated results, which prove that the higher the relative performance of a firm when compared to its share value, the higher the capabilities of a financial sector firm to time the market when repurchasing own stock. Classification-JEL: G14, G15 Keywords: Repurchase, Resale, Own Stock, Opportunistic Behaviour, Market Timing, Own Stock Transaction Performance Journal: International Journal of Economic Sciences Pages: 71-93 Volume: 9 Issue: 2 Year: 2020 Month: December File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25666 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25666?download=5 Handle: RePEc:sek:jijoes:v:9:y:2020:i:2:p:71-93 Template-Type: ReDIF-Article 1.0 Author-Name: Ni Putu Wiwin Setyari Author-Name-First: Ni Putu Wiwin Author-Name-Last: Setyari Author-Email: wiwin.setyari@unud.ac.id Author-Workplace-Name: Faculty of Economics and Business, Udayana University Title: FACTORS PROPORTION IN TRADE PATTERN AND INTERNATIONAL CAPITAL FLOWS INTERACTION IN ASEAN+4 COUNTRIES Abstract: The classic thesis by Mundell, with the modification of Heckscher-Ohlin model, stated that a substitution relation flows between trade and international capital. Mundell showed that the equilibrium price of a commodity can be obtained through international factor mobility in the absence of trade in goods or vice versa, if the trade barriers of the factor price equilibrium are eliminated. Therefore, the factor price equalization will be achieved without requiring the exchange of goods between countries. Consequently, the study of international trading and capital flows is more frequently studied separately. However, empirical data have shown the contradictory phenomena in which both of them are interrelated and complementary, but how the two interact is still relatively rarely observed.Some constructions of new theories indicate that interactions between them can be studied through several channels; one of them is through the change in comparative advantage. This paper tries to analyze the interaction between trade and international capital flows in ASEAN countries + 4 (ASEAN plus India, China, Japan, and Korea). The countries included in this group are important players in international trading and represent the world's largest trading integration. The interaction between trade and international capital flows is linked via change of trading structure, as seen from the intensity of the use of production factors in the industry in each country. The results of the study are consistent with the theory that capital will flow to countries that have a capital-intensive industrial structure. This then leads to an increase in the deficit in the country?s current account balance. Classification-JEL: E22, F10, F20 Keywords: Trade, comparative advantage, the proportion of international factors, capital flows, panel regression analysis Journal: International Journal of Economic Sciences Pages: 94-110 Volume: 9 Issue: 2 Year: 2020 Month: December File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-116765 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-116765?download=6 Handle: RePEc:sek:jijoes:v:9:y:2020:i:2:p:94-110 Template-Type: ReDIF-Article 1.0 Author-Name: Michal ?indelá? Author-Name-First: Michal Author-Name-Last: ?indelá? Author-Email: michal.sindelar@vse.cz Author-Workplace-Name: University of Economics, Prague Author-Name: Barbora Janasová Author-Name-First: Barbora Author-Name-Last: Janasová Author-Email: barbora.janasova@gmail.com Author-Workplace-Name: University of Economics, Prague Title: Are accounting services threatened by moving to shared service centers? - An empirical evidence of czech companies Abstract: The article assesses key aspects of shared service center concept within the accounting area from perspective of user unit. Based on the analysis of theoretical concepts related to types of financial services suitable for moving to shared service centers, the hypotheses are formulated. Hypotheses are verified by empirical research and tested by appropriate statistical methods as odds ratio (OR) and Fisher's exact test. The results show that companies prefer to move codify-able and routine activities to shared service centers. The most common activity transferred to shared service centers is receivables management. The results of analysis enable to get an opinion on the usefulness of shared service centers used by Czech companies. Classification-JEL: M41 Keywords: Shared service centers, sourcing models in accounting, odds ratio, complexity of services, codification of services Journal: International Journal of Economic Sciences Pages: 111-127 Volume: 9 Issue: 2 Year: 2020 Month: December File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-21945 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-21945?download=7 Handle: RePEc:sek:jijoes:v:9:y:2020:i:2:p:111-127 Template-Type: ReDIF-Article 1.0 Author-Name: Inga Uvarova Author-Name-First: Inga Author-Name-Last: Uvarova Author-Email: inga.uvarova@gmail.com Author-Workplace-Name: BA School of Business and FInance Author-Name: Dzintra Atstaja Author-Name-First: Dzintra Author-Name-Last: Atstaja Author-Email: dzintra.atstaja@ba.lv Author-Workplace-Name: BA School of Business and Finance Author-Name: Viola Korpa Author-Name-First: Viola Author-Name-Last: Korpa Author-Email: viola.korpa@gmail.com Author-Workplace-Name: Riga Stradins University Title: Challenges of the introduction of circular business models within rural SMEs of EU Abstract: Recently the circular economy has got a lot of attention within discussions of policy makers, academics and practitioners. The circular economy proposes the treatment of environmental and climate change problems, simultaneously promising benefits for the business. The circular economy promotes the reduction of the consumption and reuse or recycling of the resources that in various aspects contradicts traditional business models that stream to linear growth of sales of their products. Yet the circular economy concept has been more discussed regarding its global scale, but there is a lack of scientific discussions about the approaches of the adoption of circular economy principles on the business level. This paper conceptualises multi-level dimensions of the circular economy and highlights challenges related to the perception of the circular economy principles in the micro business level. The conducted research shows that rural SMEs of six EU countries have rarely heard about the circular economy and even less about circular business models. While rural SMEs are more familiar with the bio and green economies forming good base for developing circular business models, they are reluctant towards introducing new business models. This paper aims to assess the level of the advancement in introduction of the circular business models among rural SMEs of EU countries. This article emphasizes the circular economy as an inseparable part of the business models of rural SMEs and rural economies of EU countries. This study has a policy implication as we suggest that the government should play an important role in promotion of circular business models in rural SMEs. The existing public support system is fragmented, and in most cases just incidentally encourage rural SMEs to adopt new circular business models. Also, the circular economy on a local level, especially in rural areas, has an important role in ensuring social wellbeing of local inhabitants. The methodological approach and research results presented in the paper can be used further developing EU support system and priorities beyond 2020. Classification-JEL: L26, Q57, P25 Keywords: circular economy, circular business models, rural SMEs Journal: International Journal of Economic Sciences Pages: 128-149 Volume: 9 Issue: 2 Year: 2020 Month: December File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25570 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-25570?download=8 Handle: RePEc:sek:jijoes:v:9:y:2020:i:2:p:128-149