<abstract xmlns="http://www.w3.org/1999/xhtml">

The updated Directive 2013/34/EU brought a legal duty for large undertakings in the EU to include in their management report a non-financial statement. Considering the UN Agenda 2030, the European Green Deal and Action Plan on Financing Sustainable Growth, there was enacted Regulation (EU) 2020/852 aka Taxonomy Regulation which adds to this reporting duty the information about the environmental sustainability of the economic activities. What does it mean? Who, when and what must disclose and what are the sanctions for that? EU businesses and their stakeholders need answers to these four questions in order to satisfy their legal duty as well as to boost their effectiveness, efficiency and legitimacy. A holistic deep content, comparative and contextual analysis with a teleological interpretation is performed and rather surprising answers along with more general observations about EU law and EU policies are proposed. A duty to defined subjects is imposed, but the sanction mechanism is missing.
</abstract>

Taxonomy for Transparency in Non-Financial Statements – Clear Duty With Unclear Sanction

<abstract xmlns="http://www.w3.org/1999/xhtml">

The aim of the paper is to quantify changes in public finances in the countries of the Visegrad Group through the area of the magic triangle of public finances, with an emphasis on the years 2020 and 2021. Using mathematical and statistical methods, we found the absolute and relative primary values of the year-on-year changes in public revenues, public expenditures and public debt since 2016 and substituted in the formula for calculating the area of the magic triangle. We found that in the long term, the magic triangle in the Czech Republic and Poland shows the largest area. The disease of COVID-19 significantly affected the development of aggregate public finances, which was confirmed especially in 2020. In 2020, the area of the magic triangles decreased significantly from 44.8% (Hungary) to 60.2% (Poland). In 2021, all V4 countries will see an improvement in financial indicators and, at the same time, an increase in the area of the magic triangles of public finances, which signals the progress of the public finances situation.
</abstract>

Public Finance in the V4 During the COVID-19 Pandemic: The Magic Triangle of Public Finances

<abstract xmlns="http://www.w3.org/1999/xhtml">

The impact of technology on individual economic sectors has also reached the service industry. This article offers a discussion on the influence of information technologies (IT) and changes taking place as a result of the legal services market digital transformation.
Thanks to the results of the qualitative study (questionnaire survey a technique of data collection) involving 451 respondents (attorneys and legal counsels) in Poland, it was possible to analyse <italic>t</italic> lawyers’ attitudes towards particular IT tools and systems as well as the changes taking place in the field of legal services, the business models applied thus far and innovation factors.
The gained knowledge shows the current level of technology use in the daily work of lawyers and their attitude towards changes induced by omnipresent digitalization. The results offer vast opportunities for using the knowledge so acquired at academic and business levels, especially by providers of IT solutions for legal professionals.
</abstract>

The Digital Transformation of Legal Industry: Management Challenges and Technological Opportunities

<abstract xmlns="http://www.w3.org/1999/xhtml">

The paper focuses on the social mobility as the key driver of the income inequality. The aim of the paper is to contribute to the assessment of the social mobility and explore its links to the level of inequality and the age structure of the country. Employing composite social mobility indicator featuring benefit-of-the-doubt weighting principle, scores, ranks and benchmarks for 55 countries worldwide are determined by slack-based data envelopment analysis (DEA) reduced model. The proposed measure is compared to a regular Global Social Mobility Index (GSMI). Score and rank correlations reveal some significant differences although Denmark is robustly confirmed as a leader in social mobility worldwide. The suggested DEA-based approach proved more flexible as to determining benchmarks for underperforming countries. Second stage regression analysis reveals higher levels of income inequality for the countries of lower social mobility and with higher share of young people.
</abstract>

Social Mobility as an Income Inequality Determinant

<abstract xmlns="http://www.w3.org/1999/xhtml">

The paper examines why the pandemic recession hit the labour market in Slovakia differently from previous recessions. Traditionally, the unemployment rose sharply during previous economic recessions. Therefore, it seemed like a novelty when the unemployment rate rose only insignificantly in a pandemic recession. We find that both the demand and supply side of the labour market played their role in it. Labour demand has been affected differently compared to the past: Instead of the usual sharp increase in unemployment during a recession, the rate of utilization of workers’ time capacities fell, with expected impacts also on income differentiation. This is in line with the way more advanced European economies have responded to recessions before. In addition, a new element was also present on the labour force supply side. In previous recessions, the labour force supply had been rising; in the recent pandemic recession, it fell for the first time.
</abstract>

Faculty of National Economy, Department of Economic Policy

University of Economics in Bratislava, Faculty of National Economy

Different Impact of the Recession on the Labour Market: Less Work Without Increasing Unemployment in Slovakia

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