PREDICTING BANKRUPTCY OF MANUFACTURING COMPANIES IN EU
Václav Klepáč, David Hampel
The best defense against existential problems of a company appears to be good ?nancial health, based on a satisfactory ?nancial situation. If, however, considerably weakened, the company gets into ?nancial distress, which may turn into a ?nancial crisis and end up in bankruptcy. The primary means, by which we would be informed about the condition of the enterprise, are bookkeeping data of a company. From there, based on ?nancial analysis, we can identify scenarios leading to good management decisions and, consequently, to the ?nancial health of the company.
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MANDATORY CCCTB IMPLEMENTATION IN THE EUROZONE AND ITS IMPACT ON CORPORATE TAX REVENUES IN THE CZECH REPUBLIC
Danuše Nerudová, Veronika Solilová
There have been many attempts to coordinate the corporate taxation systems of EU Member States. First, in 1962, the European Commission suggested splitting the corporate tax rates and applying a different tax rate for retained and distributed pro?ts. Furthermore, eight years later, the Temple report suggested the implementation of a classical system of corporate taxation in the EU Member States.
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CHANGES IN INDUSTRIAL STRUCTURE AND POTENTIAL: THE CASE OF LITHUANIA
Asta Saboniene
Every economy aspires to enlarge the share of high-tech industries in its industrial structure, considering this share as one of the main determinants of country’s economic development. Hence, the induction of high and medium-high technology industries through R&D support, stimulation of innovation activities and higher quality may help economies to avoid getting trapped in the low-tech specialization during the long term.
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DOES THE TAX RELIEF FOR HOMEOWNERSHIP HAVE EFFECT ON HOUSEHOLD MORTGAGE LEVERAGE?
Barbora Slintáková, Stanislav Klazar
Tax systems of developed countries contain provisions that give a preferred status to housing and homeownership. A signi?cant relief is provided especially by the combination of non-taxation of imputed rental income and mortgage interest payment deductibility. Real user costs of owner-occupied housing are reduced (see Poterba & Sinai, 2008) and thus a bias in favour of the homeownership is created when households are encouraged to buy rather than to rent their dwellings.

EFFECT OF MASS LAYOFFS ON HEALTH INSURANCE EXPENDITURES: THE CASE OF THE OSTRAVA REGION
Jiří Louda, Ondřej Vojáček, Markéta Pechholdová, Miroslav Barták
The study of connections between unemployment and its impacts on human health and economy has been the object of research since the US economic crisis in the 1920s (Brenner, 1967; Brenner, 1969; Kasl et al., 1968; Kasl & Cobb, 1970; Cobb, 1976). Evidence shows that loss of employment negatively affects not only health of individuals who have lost a job but also that of their partners and family members and reduces the life expectancy (Eliason & Storrie, 2009).

FINANCIAL LITERACY OF STUDENTS IN CHOSEN UNIVERSITIES – RESEARCH PLATFORM FOR REGULATORY PROCESSES OF EDUCATIONAL SYSTEM IN SLOVAKIA
Matus Kubak, Andrea Tkacova, Armenia Androniceanu, Manuela Tvaronavičiene, Eva Huculova
Financial literacy (FL) represents a basic and inevitable skill that is important for human existence in the 21st century. In recent years, there are evident activities in a support of ? nancial education especially from the European Commission (EC) side. The EC issued “The Communication on Financial Education” report. This report explicitly states economic and social advantages of a higher level of FL as well as fundamental principles of ?nancial education control according to the chosen procedures (European Commission, 2007).

COMPARATIVE ANALYSIS OF THE PERCEPTION OF THE ADVANTAGES AND DISADVANTAGES OF HOSPITAL HORIZONTAL INTEGRATION
Pavla Staňková, Šárka Papadaki, Ján Dvorský
Economic theory suggests that consolidation of hospital ownership through the formation of multiple hospital ‘‘systems’’ should lead to improved hospital performance. The general view of system superiority follows from considerations of economies of scale, improved ?nancial and other administrative management, and better access to ?nancial capital. Still, there is little evidence demonstrating greater ef?ciency in system-af?liated hospitals. The majority of studies have found hospitals belonging to multiple hospital systems to be more cost than independent hospitals, raising questions regarding the social value of much of the recent growth of new inter- organizational relationships. (Carey, 2003)

ECONOMIC METHODS USED IN HEALTH TECHNOLOGY ASSESSMENT
Blanka Klímová, Petra Marešová
Decision-making process about the development of new products is fundamental for the growth and prosperity of any company, particularly in the fast changing medical device market (Ivlev et al., 2015). Companies must innovate to be successful but this invariably carries some risk and uncertainty. In recent years, the issue of evaluation of investment effectiveness into medical devices has been intensively solved, both at national and international level (Heintz et al., 2016) due to the growing market with medical devices (Craig et al., 2014).

SECTORAL ANALYSIS OF THE DIFFERENCES IN PROFITABILITY OF CZECH AND GERMAN BUSINESS VENTURES – AN EMPIRICAL BENCHMARK STUDY
Dirk Beyer, Jana Hinke
Conducting business involves a constant ?ow of money and capital, whose renewal and expansion on the one hand and distribution and investment on the other need to be managed. Business entities are required to be able to sustainably appreciate capital invested, therefore, it is necessary to conduct analyses of the rate of return on capital invested as part of business management.

A BEHAVIORAL THEORY OF THE FIRM: SPECIFICS OF CZECH ENTREPRENEURIAL BEHAVIOR
Ivana Mandysová
Despite voluminous literature on the entrepreneurial behavior, studies examining Czech speci?cs are very rare – speci?ed below. Most of studies come from US and relatively few from Europe, namely Netherlands and Austria.

EMPLOYER BRANDING ON SOCIAL MEDIA AND RECRUITMENT WEBSITES: SYMBOLIC TRAITS OF AN IDEAL EMPLOYER
Ludvík Eger, Michal Mičík, Petr Řehoř
With some regional differences, employment levels in many developed economies are very high, and competition for skilled staff is intense. Competitive labour markets aside, competition for employees is likely to become an increasingly important issue as the population worldwide ages (Wilden, Gudergan, & Lings, 2010). Employer branding has gained favour as a management tool over the last decade. Even as ?rms face global economic conditions that are both dif?cult to forecast and subject to extreme variance, the need to attract, retain and motivate staff remains (Moroko & Uncles, 2009).

EVALUATION OF KNOWLEDGE SYNERGY COMPONENTS
Ilona Skačkauskiene, Denisa Hrušecká, Aušra Katiniene, Martin Čepel
The 21st century is characterised by social transformations, as economic development relies on knowledge rather than labour force, natural resources or capital as before (Jankauskiene et al., 2012). Drucker (1980) and Strassmann (1989) were among the ?rst ones to talk about the importance of information and knowledge expressed in words – it is one of the most important and special resources which, when in use, can bring signi?cant bene?ts.
 
GENERATION X VERSUS MILLENNIALS COMMUNICATION BEHAVIOUR ON SOCIAL MEDIA WHEN PURCHASING FOOD VERSUS TOURIST SERVICES
Dan-Cristian Dabija, Brîndu?a Mariana Bejan, Nicoleta Tipi
The success of 21st century retailers depends increasingly on their online presence and the development of interesting and attractive communication and presentation of offers to internauts who spend a lot of time on social media interacting with people, catching up on the latest news, commenting on various events and situations and sharing other people’s posts (Young, 2015; Dabija et al., 2018).
 
EXPLORING CUSTOMER LOYALTY TO FASHION BRANDS ON FACEBOOK FAN PAGES
Jitka Novotová
In the past, companies attempted to address customers using marketing communication tools such as television ads and public relations. A major disadvantage of these tools is the passive way in which customers receive information on products and brands (Hennig- Thurau et al., 2010; Libai et al., 2010). In recent years there has been steady growth in the share of two-way communication, which has resulted in a revolutionary change in the role of the customer from passive to active. This change was brought about in particular by the internet boom and the emergence of social media (Ungerman, 2016).
 
IS ENTERPRISE RISK MANAGEMENT A VALUE ADDED ACTIVITY?
Mojca Marc, Danijela Miloš Sprčić, Marina Mešin Žagar
Severe consequences of the global ?nancial crisis resulted in re-thinking the risk management processes and approaches. OECD (2009), BIS (2008), FSA (2008) and IIF (2007) suggested that corporate risks should be “high on the agenda” of every organization, highlighting the need for a comprehensive (enterprise-wide) risk management framework. What has been realized in the aftermath of the global ?nancial crisis is that a failure to transmit information about risk exposures can be attributed to the traditional silo-based risk management (TRM) (OECD, 2009).
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