European Financial and Accounting Journal, 2020 (vol. 15), issue 2

Articles

The Role of Ecb Speeches in Nowcasting German Gdp

Necmettin Alpay Koçak

European Financial and Accounting Journal 2020, 15(2):05-20 | DOI: 10.18267/j.efaj.241  

The literature shows that the nowcasting models generally use structured data such as real, financial and survey indicators. Recent research has focused on finding the way how to use the unstructured data in the nowcasting models. The search items such as sentiments or emotions were gathered from internet platforms and used as unstructured data. In this study, it is analysed how the ECB presidents' speeches are included in the nowcasting model and to what degree they affect the quarterly gross domestic product (GDP) of Germany. First, ECB presidents' speeches are analysed to obtain the emotion indicators with assistance of the newly harmonised complex...

Advance Pricing Arrangements as a Tax Strategy Tool for Related Entities

Karolina Kuropka

European Financial and Accounting Journal 2020, 15(2):31-44 | DOI: 10.18267/j.efaj.240  

The article presents the procedure of concluding an advance pricing agreement between the taxpayer and the tax authority as a tool of tax strategy of large international groups. It was pointed out that the advance pricing agreement may be a key tool to protect affiliates operating in different tax jurisdictions from the questioning of market conditions in their transactions by tax administrations. The essence and stages of concluding this agreement are presented on the basis of the tax practice applied in Poland. In addition, special attention was paid to issues concerning properly implemented tax strategy in large international capital groups. The...

Income Convergence in the European Union: National and Regional Dimensions

Ana-Maria Holobiuc

European Financial and Accounting Journal 2020, 15(2):45-65 | DOI: 10.18267/j.efaj.242  

With advancement of the European integration process, income convergence has become a debated topic that has challenged both the academic forums andthe decision-makers’ community. With the first waves of the EU enlargement, it has become indisputable for the European leaders that in order to ensure economic and political stability, the European Union has to promote convergence between countries and regions. The main purpose of this paper is to study income convergence in the European Union by taking into consideration both the national and regional dimensions. In this respect, we have examined (absolute) β- and         σ-convergence...