Journal of Economics - Obsahy ročníkov

The article deals with the possible implications of Brexit for the V4 countries from the perspective of foreign trade and labour market. Analysing Brexit from the perspective of the V4 countries is essential due to the importance of the UK as the Visegrad countries trade partner. By analysing direct and indirect effects on value added and employment generated by exports to the UK using the multi-regional input-output model, we were able to identify the exposure to Brexit in the V4 countries in terms of value added and employment. Results suggest that the V4 countries belong to the group of countries with a medium risk, particularly in mechanical engineering, automotive industry and electrical engineering. The importance of the UK as a trade partner for the V4 countries has been rising steadily throughout the years and therefore it is important to keep these economic relations as close as possible. Keywords: Brexit, input-output analysis, labour market, value added, foreign trade; JEL Classification: C67, F13, F14, F16

This paper presents the evaluation of the impact of cigarette taxation in the Czech Republic, the Slovak Republic, and Poland. Firstly, the authors focus on the issue of cigarette taxation and the European legislation and then they provide an overview of the international scientific research in this area. The main objective of the research is to evaluate the impact of cigarette taxation on cigarette consumption, observing the effect of negative stimulation of this taxation. The authors use the methods of correlation and regression analyses and create three regression models. Focusing on the stimulation effect of cigarette taxation, the results show that cigarette taxation has a negative influence on cigarette consumption, however, the extent of the impact is not the same in all the analyzed countries. Keywords: cigarette taxation, tax incidence, negative stimulation effect; JEL Classification: E62, H22, H31

Governments rely on income from taxes to function. Tax evasion therefore affects them directly. Although tax compliance has been studied, the literature does not exhaustively elucidate the factors that affect tax compliance and tax morale. The article contributes to closing the gap by investigating whether personality is a factor influencing tax morale. Personality traits were measured using the Big Five Inventory 2 and the measure of Honesty-Humility from HEXACO-PI-R. Ordinary least squares regression was used for estimation; the explained variable was the amount that respondents would be willing to pay in taxes (given the full amount), and explanatory variables were personality traits in the first model and facets in the second model. The findings suggest that the personality traits of conscientiousness (responsibility and/or productiveness) and honesty (modesty and/or greed avoidance), along with demographic factors, have a significant impact on the attitude towards paying more taxes. Keywords: tax morale, tax compliance, tax evasion, personality traits, empirical research; JEL Classification: H26, D91

Czech Republic is a Central European market economy that emerged following the peaceful dissolution of the former Czechoslovakia. It is an economy driven mainly by manufacturing, services and innovation, with a dynamic external sector. Its dependence on exports makes output growth vulnerable to shocks or contractions in external demand, thereby necessitating this study, which examines the dynamics of its output connectedness with the global economy from 1990Q1 to 2016Q4 using the Diebold and Yilmaz (2009) network approach. The results indicate that Czech’s output connectedness with the rest of the world is quite sizeable, with a total connectedness index of 82% over the above period. The results also show that EU member countries, especially Germany, exert the most dominant output influence on the Czech economy and therefore have the potential to spread output shocks to it, while Poland and Slovakia are most susceptible to output shocks emanating from the Czech economy. Furthermore, the role of the USA in the Czech economy increased remarkably after the 2012/2013 economic recession in the Czech Republic. These results suggest that the Czech economy is considerably open, deeply interconnected and sensitive to international output shocks such that policymakers in the Czech Republic must be constantly conscious of headwinds originating from the aforementioned sources. Keywords: connectedness, network approach, vector autoregressive (VAR) model, economic recession, Czech Republic; JEL Classification: F43, C53, C32, E32, N14

With the development of e-commerce, the area of interest of entrepreneurs and academics is focused on opportunities and strategic approaches to enhancing the competitiveness of enterprises that primarily trade electronically. This paper focuses on evaluating the importance of determinants of strategy and strategic management in the long-term development of small and medium-sized enterprises that primarily trade electronically and then to evaluate the importance of these determinants into the whole process of strategic management of enterprises primarily focused on e-commerce. The main aim of the paper is fulfilled through research carried out in several phases between a selected sample of small and medium enterprises oriented primarily on e-commerce. The collection and analysis of data from the research is realized by using the method of personal interviewing and the methods of statistical induction and descriptive statistics for the verification of the formulated main and partial hypotheses. The contribution of the paper is based on the identification of the importance of strategic management evaluated by SMEs focusing primarily on e-commerce, influencing their strategic position and the possibility of further development. Keywords: small and medium-sized enterprises, strategy, strategic management, e-strategy, e-commerce; JEL Classification: M00, M10, M19