Abstract:The paper assesses the characteristics of tax wedge, employment and unemployment rate in the EU and by using linear regression analysis with panel-corrected standard errors on the sample of twenty-seven EU Member States over 1999-2008 period analyzes whether the tax wedge affects the employment growth. The empirical estimates have shown that, with regard to employment and unemployment rate, the EU Member States can be classifi ed into two groups. The fi rst group is characterized with high tax wedge, low employment and high unemployment rate, whereas the second group has the alternative characteristics. The negative tax wedge-employment relation was confi rmed in the panel regression analysis, showing that an increase in tax wedge for one percentage point decreases the employment growth in the EU-27 by around 0.04 percentage points, ceteris paribus. The empirical estimates suggest that the EU-27 should continue with the trend of reducing tax wedge, as this would increase employment growth and employment rate and decrease unemployment, especially in Member States with high tax wedge.
The purpose of this article is to estimate minimum wage effects on youth employment in the European Union (EU). The analysis employs a panel regression method with fixed effects and uses data for 18 EU member states with statutory minimum wage over the period 1996 to 2011. The analysis is restricted to teenage workers between 15 and 19 years of age and young workers between 20 and 24 years of age. The study finds a negative, statistically significant impact of minimum wage on youth employment, by which the disemployment effect appears to be stronger for teenage workers. The effect remains negative and statistically significant also when controlled for other labour market institutions. Taking into account empirical results, we can conclude that EU countries should be more cautious when setting up minimum wages for young workers, as disemployment effects may have been downplayed.
Firms are driving forces of economic and social development; therefore it is important to understand what is their primary goal or purpose. The aim of the paper is twofold. First, the paper presents baseline theoretical concepts on the firms' purposes. Secondly, the paper presents the results of the empirical study in Slovenia with which we tried to determine how firms' purposes are perceived by their managers and how they see their responsibility to owners and other stakeholders. The empirical study was based on a survey that was sent to the management of 1400 Slovenian mediumsized and big companies, of which about one third responded. The survey questionnaire was pre-tested through interviewing five top managers in five Slovenian firms with different ownership structure. On the basis of the empirical study it is possible to conclude that, on average, Slovenian firms put the interests of all stakeholders before the interests of only shareholders. So it seems that the majority of managers follow the stakeholder approach in the governance model.
The article studies the relationship between ownership structure and performance of the Slovenian join stock companies, with special focus on the comparison of performance of state-and privately-owned joint stock companies and ownership concentration. The empirical analysis employs firm-level annual financial reports data and data on ownership structure of all Slovenian join stock companies for the 2005-2017 period. Using panel regression analyses we find that Slovenian state-owned joint stock companies are less profitable than their privately-owned counterparts. In contrast, we do not observe statistically significant relationship between ownership concentration and firm performance. The empirical findings point on the need of further actions in improvement of corporate governance of state-owned firms in Slovenia.
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