Human Resource Controlling and Human Resource Management： Practice of Small and Medium-Sized Building Companies in the Czech Republic

The aim of this paper is to define the nature, present the possibilities, and discuss the problems of using human resource controlling in small and medium-sized building companies. This paper is based on the assumption that expedient human resource controlling is an effective human resource management tool that achieves the required performance of employees and expected competitiveness of a building company. This paper uses the results of a questionnaire survey conducted in November 2013 to analyze human resource management in building companies in the Czech Republic and specify the organization and conditions of human resource management. Some 81 small （less than 50 employees） and 66 medium-sized （50-249 employees） building companies operating in the Czech Republic took part in the questionnaire survey. The results of the questionnaire survey showed the lack of concept and random nature of human resource management in most small and medium-sized building companies. Of course, in terms of the present economic trend, it is above all important for small and medium-sized companies to develop their adaptability to the building market and to be able to deal with a variety of construction works. It is effective human resource management supported by expedient human resources that serves this purpose.     

Personnel Management in the Slovak Building Industry： Analysis of Small,Medium-Sized,and Big Building Companies

This paper summarizes the results of the authors＇ research conducted in November 2013 with the aim to analyze the organization and standards of the personnel management in the Slovak building industry. The research was based on the presumption that optimal mastering of the personnel management is a precondition of the success of each building company that wishes to be a continuously prosperous, competitive, and respected economic and social entity. Altogether, 76 small （less than 50 employees）, 77 medium-sized （50-249 employees）, and 21 big （250 and more employees） building companies operating in the territory of the Slovak Republic took part in the research. The results of the research showed that the concept of the personnel management in big building companies （in particular in comparison to most small companies but some medium-sized companies） was more strategic and systematic which is natural given the high numbers of employees of various professions who carry out manifold building works in a huge set of working conditions. However, from the point of view of the current economic development, all building companies have to develop their adaptability to the building market and their capability to master various building works. It is just the personnel management that is used to make it all up provided it is implemented efficiently in a purposeful way in order to keep the stable operation of the building company and satisfaction of various needs of stakeholders including but not limited to employees and clients.     

Monetary Model of Exchange Rate Determination： Evidence From the Czech Republic,Hungary, and Poland

Using a monetary model of exchange rate determination that suggests a strong link between the nominal exchange rate and a set of monetary fundamentals, exchange rate dynamics for the Czech Republic, Hungary, and Poland is studied. As the cointegration relationship among exchange rate, output, and the monetary fundamentals （money supply and interest rate） is found, vector autoregressions （VAR）/vector error-correction （VEC） and two-stage least squares （2SLS） error-correction models are used in this context, since both approaches allow estimating short-run correlations between exchange rates and fundamentals while taking into account the existent long-run exchange rate constraints. Based on the quarterly data for the period of 1998-2012, it is found that for all countries, an increase in the money supply, domestic output slowdown, or stronger growth abroad are factors behind a nominal exchange rate depreciation, just as predicted by the monetary model of exchange rate. However, the effects of domestic-foreign interest rate differential are quite heterogeneous, being in line with theoretical predictions of a standard monetary model for Poland only. According to the decomposition of variance, money supply and interest rates account for 30%-46% of the exchange rate variation in the Czech Republic, from 10% to 14% in Hungary, and from 23% to 42% in Poland.     

Assumptions Regarding the Development of Selected Europe 2020 Objectives in Terms of Public Finances in the Slovak Republic and the Czech Republic

This paper uses regression analysis and econometric modeling foundations to track public expenditures in the Slovak Republic and the Czech Republic （Fejesova, 2011） and their influences on the development of the following two targets of the Europe 2020 Strategy： to increase the employment of the selected population groups to a predetermined percentage level and to reduce the number of people at risk of poverty. In addition to the selection of monitored indicators, we included other indicators from the social sphere, which are funded by mandatory national public expenditure budgets and which are expected to have a positive development in terms of improving the demographic structure of the country--the unemployment rate and the number of live births.     

Self-Dealing Among Convergence and Path-Dependency Opportunities： An Empirical Analysis of Regulatory From Six European Countries

Self-dealing refers to all kinds of transactions and operations diverting value from a company to corporate controllers. In order to tackle self-dealing, academics and regulators have emphasised the legal tools. However, there is a divergence between those supporting the existence of a benchmark model towards which to converge （convergence hypothesis） and those underscoring the importance of socio-economic factors on the efficacy of governance rules （path-dependency view）. The aim of this paper is to join in the convergence vs. path-dependency debate by focusing on the efficiency of mandatory rules and investigating their effectiveness. Considering the current market integration, the traditional cost-benefit analysis has been extended in order to embrace costs specifically associated to the issue of domestic rules in a global scenario. This analysis supports the convergence view and encourages at least a partial and gradual adjustment of national legislations towards the prevailing Anglo-Saxon model. In order to test this hypothesis, an examination of the self-dealing regulatory （on conflict of interests and self-dealing） adopted in some Western （Germany, Italy, and the United Kingdom （UK）） and Eastern （Czech Republic, Hungary, and Poland） European countries has been conducted.     

Impact of International Financial Reporting Standards （IFRS） Adoption on Key Financial Ratios＂ The Case of the Czech Republic

This contribution analyzes the impact of new International Financial Reporting Standards （IFRS） reporting rules on financial ratios prepared in the Czech companies. Using a sample of 16 Czech firms, we attempt to measure the scope and size of the differences in the selected set of financial ratios as calculated with data reported according to the traditional Czech accounting standards （CAS） and under the IFRS provisions. Our study discovers that there are important differences resulting from the two reporting formats. Our research comes to a conclusion that translation of Czech statements to IFRS may cause changes in the values of financial indicators without relationship to the real change in the firms＇ value, performance, and stability. Even though the findings were not statistically significant, the indicative results of our measurements disclosed an important fact that the transition to IFRS could cause deterioration of key indicators and thereby could impact on the overall rating of companies. One needs to be cautious with generalization due to the small sample size.     

Cultural analysis of the management accounting application in China

Management accounting is an applied subject. As YU Xu-ying said, it not only embodies the concept of technology, also reflects the fixed concept of social culture. Viewing from the cultural point, this paper analyses the applying status quo of management accounting in China. Its main viewpoints are as follows： management accounting is originated from the West, and its appearance is built on the basis of the West thought of management, so, to a certain degree, it is influenced by the West culture. In fact, its application in China is in a new cultural circumstance so that it is certainly influenced by the Chinese culture, especially the Chinese traditional culture; thus one of the important reasons for the undesirable application of management accounting in China is the difference between the East culture and the West culture. Therefore, the special cultural factor of China should be considered in order to promote what is beneficial and to abolish what is harmful if management accounting is widely applied in China.     

Ethics and the Financial and Budgetary Discipline in the Ministry of Defence

This article deals with the relation between ethics and financial and budgetary discipline during economic and social recession in the Czech Republic. We find causes of economic and social recession in the Czech Republic in the loss of democratic and human values. Czech Republic was ranked the 57th place in the Corruption Perceptions index 2013 out of the 177 countries assessed, which is the same result achieved by Bahrain, Croatia, and Namibia. Among the 31 European Union （EU） member states and Norway, Switzerland, and Iceland, the Czech Republic is on the 25th site. Market as well as public sector and public finances should follow unwritten rules of ethics and ethical behavior. Such rules should be followed especially by politicians, officials, soldiers, and businessmen. Do we need ethics in present time？ How is the role of the code of ethics in increasing financial and budgetary discipline in the defence sector？ Is it possible to measure efficiency of the code of ethics for financial and budgetary discipline？ We explain the importance of codes of ethics and formulate essential elements that each code of ethics must contain. Next, we deal with the main rules of both financial and budgetary disciplines. Furthermore, this article offers a comparison of several codes of ethics and describes the main problems in our implementation. In the end, we introduce our draft of Code of Ethics for Economic Service Officer in the Ministry of Defence and talk about possible influences of these codes on the quality of employee＇s performance.     

Case analysis on earnings management action based on issue right：Evidence from Chinese listed companies

The study in the past shows that the listed companies in China have the actions of manipulating profit to cater for the requirement of the Chinese Securities Regulatory Commission, manage earnings by means of dealings or managing the accrued profit items, so as to acquire the competence of rights issue, or lessen the risk of being suspended or canceled of trading. In this paper, the case analysis on earnings management based on rights issue right of listed companies is carded out with the samples of data from the listed companies of A-share from 1996 to 2001 and by means of earnings distributing, so as to prove the listed companies＇ response to the policies of rights issue and the existence of earnings management conducted by the rights issue companies for the purpose of rights issue, and observe the effectiveness of the securities market in China.     

Impact of mergers on the corporate performance of acquirer and target companies in India

Mergers and acquisitions become the major force in the changing environment. The policy of liberalization, decontrol and globalization of the economy has exposed the corporate sector to domestic and global competition. It is true that there is little scope for companies to learn from their past experience. Therefore, to determine the success of a merger, it is to be ascertained if there is financial gain from mergers. It is very important to study the liquidity performance of those companies to test whether those companies have sufficient liquid assets to meet its current obligations. The present study is limited to a sample of companies which underwent merger in the same industry during the period of 2002-2005 listed in one of the Indian stock exchange namely Bombay Stock Exchange. It is proposed to compare the liquidity performance of the thirteen sample acquirer and target companies before and after the period of mergers by using ratio analysis and t-test during the study period of three years. The study found that the shareholders of the acquirer companies increased their liquidity performance after the merger event.     

Empirical Research on Accounting Profits and Net Cash Flow of Chinese Public Companies ——Analysis Based on Profitability

In traditional analysis, enterprises＇ performance evaluation largely depends on profits indices, which results in the public companies＇ strong pursuit of accounting profits and neglect of net cash flow. It is of great significance to study this phenomenon in public companies for it can help to evaluate their profitability correctly. By making an empirical research on the status quo of the medical public companies＇ accounting profits, net cash flow, receivable and prepaid items, it is found that the phenomenon that the current accounting profits and net cash flow are inconsistent universally exists in the public companies; the current growth rates of accounts receivable, notes receivable, other accounts receivable and accounts prepaid in the companies which the phenomenon exists in are higher than those in other companies and the industrial average, especially for the latter two items; this phenomenon in economically developed areas is more obvious than in other areas. How to avoid the contradiction of accounting profits and net cash flow in the public companies？ Firstly, the credit risk awareness and management should be strengthened. Secondly, cash budget management should be enhanced. Finally, the index system of evaluation of the public companies＇ operating performance should be improved.     

Measuring the Impact of Information Technology （IT） on Supply Chain Management （SCM） Through Indicators： An Exploratory Study

Enterprises are looking to adapt to this scenario focusing on performance, seeking to improve the level of service and reduce costs in an attempt to differentiate and increase the perceived value of their customers. A strong partner to achieve these goals is the information technology （IT）. IT has an important role in the performance of companies, providing a flow of information that makes the supply chain more robust and resilient, without compromising efficiency. To achieve the objective of this research, a survey of the literature on the four models was studied and then a field research with professionals was conducted in the areas of IT and supply chain management （SCM） of various companies of Sao Paulo. To collect the data needed for analysis, we used the exploratory research of a qualitative nature. Thus, we conclude that the use of IT impacts supply chain in five surveyed areas as planning, manufacturing, suppliers, customers, and delivery but does not impact the return area.     

Assessing the Relationship of Corporate Integrity Practices With Accountability of Malaysian Statutory Bodies

Accountability is seen as an organisational performance across private and public sector,including statutory bodies.Yet,does accountability prove instilled in part of integrity practices,especially in less mentioned sector-statutory bodies?This study aims to evaluate the relationship of corporate integrity practices on accountability of Malaysian statutory bodies through questionnaire survey distribution.Based on 194 responses received from top management of Malaysian statutory bodies,it is proven that corporate integrity practices have a positive and significant relationship with accountability.Therefore,statutory bodies are recommended to exercise and implement corporate integrity practices by setting up integrity department and appointing corporate integrity officers.Hence,by upholding corporate integrity practices,it leads to the achievement of accountability of statutory bodies organisations.     

美国波多里奇国家质量奖问与答

The Malcolm Baldrige National Quality Award is the United States‘premier award for business excellence and quality achievement.The Malcolm Baldrige National Quality Award is given to U.S.organizations that have exemplary achievements in seven areas:leadership,stategic planning,customer and market focus,information and analysis,human resource focus,process management,and results.The Baldrige Award is given by the President of the United States to businesses-manufacturing and service,small and largeand to education and health care organizations that apply and are judged to be outstanding in those seven areas.All applicants for the Baldrige Award undergo a rigorous examination process that involves a minimum of 300 hours of review by an independent board of examinrs primarily from the private sector.Final-stage applicants receive about 1,000 hours of review and are visited by teams of examiners to clarify questions and verify information.Each applicant receives a report citing strengths and opportunities for improvement.     

Board independence, ownership structure, audit quality and income smoothing activities： A study on Malaysian market

The 1997 economic crisis faced by many East Asian economies has generated a substantial amount of debate largely focused on issues such as the roles and functions of good corporate governance （CG）. Lack of transparency has been singled out as the major culprit of the crisis and it has been alleged to cause management to indulge themselves in unhealthy activities such as income smoothing （IS） act. The paper extends Nasuhiyah, Hian, Sob and WEI （1994） by incorporating contextual variables that proxy for CG, ownership structure and audit quality. The empirical analysis is conducted on a sample of Bursa Malaysia listed companies for a period between 1991 and 2000. The main intention of taking this time span is to observe to what extend has previous business operations inculcated the feature of CG in the running of their companies＇ activities despite not being obligatory for them to uphold. The results showed that the existence of non-executive directors and the presence of brand name auditors to be significant in hindering the management from indulging in IS. The study opens the way for a richer understanding of the links among CG, ownership structure, audit quality and IS in Malaysia.     

Investor Relations （IR） in Business Communication on the Example of Poland

This paper focuses on investor relations （IR） as an element of companies＇ communication with the external environment. It shows the place and role of IR in communication with the general market, and the stock exchange market in particular. The study is illustrated with an example of IR in Poland, a relatively new European Union （EU） member state and an emerging market. As can be seen, IR goes beyond the traditionally understood maintenance of communication with the capital market. It is also shown that the main role of IR ought to be the reduction of investment risk and enhancement of the companies＇ value, which is of particular significance in light of the current globalization of capital markets. It has been found that Polish companies, especially those listed on the Warsaw Securities Exchange （WSE）, commonly rely on IR as a means of communication with the environment. And yet, as the results of the analysis show, the quality of that communication is still far from satisfactory, despite efforts undertaken by various external entities to encourage more focus on the development of IR, or understanding of the company＇s relevant staff of its important role.     

未来导向的工作分析

Job analysis is one of the most effective way to gather job related information.The author identified that premise of the traditional job analysis--the job is stable and remains unchanged is inconsistent with strat human resource management.Therefore,he presented to the readers a job analysis framework under dyn environment.     

The Relationship Among Ethical Climate,Job Satisfaction,Organizational Commitment,and External Auditor＇s Turnover Intention

This study attempts to examine the relationship among ethical climate, job satisfaction, organizational commitment, and turnover intention in the context of the Malaysian external auditor＇s work environment. The questionnaire is sent to a sample of external auditors from Malaysian Big Four （Klynveld Peat Marwick Goerdeler （KPMG）, Ernst and Young, Deloitte KassimChan, and PricewaterhouseCoopers （PwC）） main offices. There are 167 useable responses. The regression results have provided evidence that ethical climate is directly, significantly, and positively associated with job satisfaction. In contrast, ethical climate appeared not to be directly related with external auditor＇s turnover intention. Both job satisfaction and organizational commitment were identified as significant predictors in explaining turnover intention, since they had a significant and negative effect on external auditor＇s turnover intention. This study also implied that job satisfaction had a significant effect on organizational commitment. Furthermore, the findings revealed that organizational commitment partially mediated the relationship between job satisfaction and turnover intention. The results extend the literature on external auditor＇s turnover intention and provide insights for human resource management in accurately assessing employee＇s turnover intention in order to improve retention and reduce actual turnover particularly in audit firms.     

The Theoretical Perspectives and Managerial Implications of the Balanced Scorecard （BSC） in the Italian Public Utilities

The present work aims to conduct a critical analysis of control systems and tools of performance assessment in local public services companies, with a particular reference to the public transport sector. The interest in this issue arises for various reasons, from the growing economic significance of the sector at a national level, measurable in terms of production value and the number of operators involved, to the spread of outsourcing policies, liberalization and privatization, and the use of the standard cost to establish the level of funding. In the field of public utilities, until a few years ago, the concept of control was intended only in a ＂bureaucratic＂ sense as the capacity to fulfill the formal obligations linked to the strong regulatory context, ignoring aspects that have become fundamental today, such as economy, efficiency, and effectiveness of management. The approach used is deductive and the study ends with the presentation of the possible implications of the use of standard cost and the presentation of an application hypothesis of a balanced scorecard （BSC） for local public transport （LPT）.