Journals UITM University of Information Technology and Management
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SELECTED ISSUES OF PERSONAL INCOME TAXATION HARMONIZATION
Get PDFIn the process of furthering EU integration little attention was given to the role of income taxes. Multiple income tax systems exist across the Union and their differentiation negatively impacts the European labor market, investments and savings, inhibiting economic growth. Individual nations have little motivation to harmonize as they can engage in tax rate competition and income taxes are interwoven with social security systems that make any attempts at reform extremely complex and politically unpopular. Much of current harmonization is “silent”, paralegal, and occurs in response to market forces rather than following a formal plan and through intergovernmental cooperation
WAYS OF FINANCING THE DEVELOPMENT OF NEW BUSINESS STRATEGIES FROM PUBLIC AND EU FUNDS
No full textEach innovative enterprise, irrespective of who undertakes it and in what scope, entails capital expenditure. Ways to attain the capital, the amount of the required capital and sources of financing depend on the size of the company, form of ownership, the environment, and firstly the venture undertaken. Available literature describes various methods of finance source classification based on the distribution criteria. Methods of financing depend on various factors, such as the technology transformation model and transformation type. Ventures and innovation projects may be financed from different sources. It may be own or foreign capital. Both accessibility, as well as the ways of gathering such types of capital for financing innovative enterprises varies. With internal financing the easiest way is to finance through accumulated profit and depreciation write-offs. Such funds are, however, too limited to finance innovation enterprises in small and medium enterprises. They play a more significant role in big enterprises. Out of external funds, in small and medium enterprises, the major role is played by subsidies, co-financing and venture capital. In theory, small and medium enterprises can also use bank loans. In practice however, thanks to a stable position on the market, large enterprises stand a better chance of using bank loans for financing innovation. That is why the majority of small and medium enterprises finance innovation ventures using various sources, both own capital, as well as foreign capital
THE OUTLINE OF HEALTH CARE SYSTEM FUNDING IN POLAND
No full textOpieka zdrowotna jest istotnym, ale bardzo trudnym elementem polityki każdego państwa. Naj-bardziej drażliwa pozostaje kwestia finansowania systemu ochrony zdrowia. Przyjęty w danym kraju sposób finansowania służby zdrowia związany jest bezpośrednio ze stosowanym w nim modelem systemu zdrowotnego. Zdrowie stanowi wartość nadrzędną dla każdego człowieka, a jego utrata powoduje poważne konsekwencje finansowe nie tylko dla jednostki, ale także społeczeństwa. Przy-bliżenie źródeł finansowania systemu opieki medycznej w Polsce pozwoli na częściowe zrozumienie obecnej sytuacji służby zdrowia. Celem artykułu jest przedstawienie (poprzedzone prezentacją ewo-lucji systemu zdrowotnego w Polsce) jednostek organizacyjnych systemu ochrony zdrowia, a przede wszystkim dostępnych zgodnie z prawem źródeł i sposobów finansowania polskiego systemu ochrony zdrowia oraz analizaudziału jednostek organizacyjnych w finansowaniu poszczególnych rodzajów świadczeń zdrowotnych. Z uwagi na rozległy materiał normatywny i dane empiryczne artykuł prezentuje tylko zarys teo-retycznych rozważań i podstaw normatywnych
MODELING FINANCIAL RISK ATTITUDE: THE ROLE OF EDUCATION AND FINANCIAL LITERACY
Get PDFThis paper studies the relationship between risk propensity, education and financial literacy. Theresults of the empirical investigation confirm the importance of the key explanatory variables ofeducation and financial competence. Since they are both included in the model, the differentroles of each are singled out. In particular, while education turns out to be a factor contributingto raising risk tolerance, financial literacy tends to reduce risk propensity. Risk attitude is evaluated by self-reported assessment and modeled through cumulative logit models. In order to handle anomalous data, M estimators with a bounded influence function are considered
THE CHANGE OF THE MONETARY PARADIGM: FINANCIAL SECURITY AND CRYPTOCURRENCY
Get PDFThis study aims to investigate the economic characteristics of cryptocurrencies and assess the current legal framework regarding the potential to regulate transactions involving cryptocurrencies and other virtual assets. To achieve this goal, a complex set of general scientific and specialized research methods was applied, including comparative legal analysis, system-structural examination, generalization method, as well as methods of analysis and synthesis, DFD to build a model of the influence of cryptocurrency on the financial security of the state. As a result, we delved into the economic essence of blockchain-based cryptocurrencies as an alternative to traditional fiat currencies based on the principle of decentralization. It has been established that Bitcoin has a unique "hardness", due to which this cryptocurrency is rightly called «digital gold». The article analyzed the dynamics of the development of the use of blockchain technologies for 2009-2022, the results of which indicated the continuation of their annual growth in use. The article presents the results of a study on the introduction of cryptocurrency in Ukraine, which made it possible to systematize the main risks associated with it. In further research, it is possible to continue studying the economic-legal mechanism of the introduction of the national cryptocurrency in Ukraine and the use of blockchain in other financial processes at the state level
Determinants of local government debt in the Federation of Bosnia and Herzegovina
Get PDFThe theory of fiscal federalism suggests that debt of subcentral levels of government is closely related to the internal organization of the country, defined through intergovernmental fiscal relations. Due to a great importance of subcentral levels of government in the theory and practice of fiscal federalism, the aim of the research is to empirically investigate the determinants of local government units’ (LGUs) debt in the Federation of Bosnia and Herzegovina (FBiH). Based on panel data from 2011 to 2019 and by using a generalized method of moments (GMM), we estimate the model using sets of fiscal, institutional, economic, and demographic variables. The results indicate that the debt of LGUs in FBiH is significantly determined by intergovernmental fiscal relations defined through a group of fiscal and institutional variables and demographic factors. Significant determinants of LGU’s debt in FBiH in the both short and a long term include financing of special expenditure needs of some LGUs together with LGUs within a canton with special expenditure needs. Furthermore, transfers from other government levels are also significant in the short and a long term. Based upon our results, we conclude with several policy implications important for the upcoming intergovernmental decision-making processes in FBiH
VIRAL TRENDS AND STOCK MARKETS: SPILLOVERS BETWEEN MEME ASSETS AND SECTORAL RETURNS
Get PDFMeme assets are a unique and modern phenomenon in the stock market, characterized by social media-driven hype and significant price volatility. The aim of this paper is to explore the relationships between meme assets and sectoral dynamics. We employ the Granger causality test to examine predictive relationships between daily returns of GameStop and five meme exchange traded funds and eleven sector index funds. Our results show that selected meme assets have relatively limited impact on various sectoral indices and vice versa, suggesting that meme stocks and meme ETFs can offer diversification benefits for sectoral investments. These findings offer insights to investors in designing their approaches to investment strategies and portfolio management, as well as regulators in their attempt to ensure financial market stability
Characterising Context-Independent Quantifiers and Inferences
Get PDFContext is essential in virtually all human activities. Yet some logical notions seem to be context-free. For example, the nature of the universal quantifier, the very meaning of “all”, seems to be independent of the context. At the same time, there are many quantifier expressions, and some are context-independent, while others are not. Similarly, purely logical consequence seems to be context-independent. Yet often we encounter strong inferences, good enough for practical purposes, but not valid. The two types of examples suggest a general problem: how to characterise the context-free logical concepts in their natural environment, that is, in the field of their context-dependent associates. A general Thesis on Quantifiers is formulated: among all quantifiers, the context-free ones are just those definable by the universal quantifier. The issue of inferences is treated following the approach introduced by Richard L. Epstein: valid ones are an extreme case, the result of the disappearance of context-dependence. This idea can be applied to an analysis of a form ofabduction, called “reductive inference” in Polish literature on logic. A tentative Thesis on Inferences identifies the validity of a strong inference that is contextindependent