Vita Jagric

Optimized spiral spherical self-organizing map approach to sector analysis - The case of banking

Optimized spiral spherical self-organizing map is applied to real-life data.We investigate the European Union banking sector in the 2000-2011 period.We use micro and macro economic data for two separate models.Both models reveal the existence of two separate banking clusters.Dynamic analysis indicates intensification of integration within the two groups. The paper presents a comprehensive treatment of the European Union banking sector in the 2000-2011 period. A wide set of economic indicators is used to derive two-level approach: micro and macro topologies. We use the methodology of the optimized spiral spherical self-organizing map, a version of Kohonens Self-Organizing Maps, which overcomes some of the major deficiencies found in standard methods. In dynamic analysis we recover the path of the integration process itself by calculating the dynamics of the countries around the sphere and by examining the measure of dispersion. The simultaneous comparison of the micro and macro levels provides deeper insights into the banking sector integration process. Both models, the micro and macro, unveil the formation of two banking clusters, which, with the exception for Greece, coincides with a division between new and old member states. Both clusters intensify integration within their cluster.

Is there a random character in a stock market? Some evidence from a small emerging market

In the last decade, the financial industry in Slovenia developed rapidly. Nevertheless, the capital market is, according to our findings, still not efficient. However, the dynamic analysis in our study shows that the market is rapidly approaching the properties of developed markets. By adopting these properties, the Slovenian market will give additional boost to the economic activity and also make it more attractive for small firms. The main challenge for small business is to use these favourable trends and to represent an additional stimulation for further concentration of ownership in the companies listed on the stock exchange.

VAT Gap Dependence and Fiscal Administration Measures

Abstract The paper examines the VAT gap estimated on the basis of VAT tax returns. The assessment of tax gap dependence is examined based on macroeconomic influences and the measures of the Slovenian fiscal administration. Regarding the latter, the number of audits being performed and the effects of audit activity (tax yield) have been considered. The results of the analysis support the thesis that the tax gap is reduced in conditions of economic growth. The fiscal administration measures showed the desired effect. An important factor lowering the gap was proven to be the number of (VAT) audits. A similar impact on the tax gap, although considerably smaller, was found to have effects of an audit. Audit planning might be considered as guidance for fiscal policies to lower the tax gap.

FATCA (Foreign Account Tax Compliance Act) und CRS (Common Reporting Standard)

Der Beitrag analysiert die Pflichten der Finanzinstitute bezuglich der Offenlegungen an die Staaten und die Steuerbehorden mit dem Ziel der Bekampfung der grenzuberschreitenden Steuerhinterziehung und des Steuerbetrugs.