Evaluation of selected determinants of public procurement in the health sector

This article aims at anexaminationof the impact of the number of public procurement tenders in the healthcare sector on the final purchase price. We used the data from 1544 public contracts related to the acquisition of health technologies for the years 2014-2017. The highest number of public contracts was reached at level of 501 in 2014, and the lowest number was 238 in 2017. The highest average value of estimated and final prices was found in 2015. The proportion of tenders submitted with only one tenderer was over 39 %. For the analysis, we used a generalized linear model and quantile regression. The results showed that, as the number of bids increased by one unit, the ratio of final and projected price on average would change 0.975 times, which means an increase in savings by 2.45%. Using quantile regression, we modelled the influenceof the explanatory variables on the individual quantiles of the explained variable instead of the conditional mean. The aim was to determine the impact of the number of proposals at everyovercharge level. As the order value of the quantile increases, the effect of offers on generating savings in public procurement is gradually decreasing. For more than 40 % of the most overpriced orders, the number of offers does not have a statistically significant effect on the size of the savings. With 25 % of the most economical orders with an increasing number of bids by one unit, savings of 4.77 % were achieved. However, increasing the number of procurement contracts to create savings in public procurement may develop differently over time. By applying the generalized linear model, we found that in 2014 the increase in the number of offers by one unit had an impact on the average increase in public procurement savings of 7.15 %. In 2015, this impact fell to 1.59 %. In 2016, the growth in the number of proposals did not have a statistically significant impact on the average increase or decrease in savings. In 2017, this value increased slightly above 1.96 %. Public acquisition processes will continue to be a critical pointfor the efficient allocation of public resources. © 2020, Bucharest University of Economic Studies Publishing House. All rights reserved

Financial literacy and rationality of youth in Slovakia

In recent years, the importance of issue of financial literacy of young people increases. Given view is evidenced by numerous research studies which aim to detect the factors that determine the financial literacy level of subjects of studies. The aim of presented study is to reveal relationship between financial literacy and rationality of students in Slovakia. We use questionnaire to detect rationality and financial literacy level of subjects. In regression we also control for control for age, gender, type of school and number of family members to detect possible variables that can influence financial literacy. Our findings suggest that males' financial literacy is higher than females' one. We also document that adolescents are less financially literate than 22+ years old students. Interesting is finding about relationship between financial literacy and number of family members. Students from families with more members are more financially literate than students from less membered families. The positive relationship between rationality and financial literacy is proven, despite being weaker than we expected.[VEGA1/0619/19

Finansinis jaunimo raštingumas ir racionalumas Slovakijoje

In recent years, the importance of issue of financial literacy of young people increases. Given view is evidenced by numerous research studies which aim to detect the factors that determine the financial literacy level of subjects of studies. The aim of presented study is to reveal relationship between financial literacy and rationality of students in Slovakia. We use questionnaire to detect rationality and financial literacy level of subjects. In regression we also control for control for age, gender, type of school and number of family members to detect possible variables that can influence financial literacy. Our findings suggest that males' financial literacy is higher than females' one. We also document that adolescents are less financially literate than 22+ years old students. Interesting is finding about relationship between financial literacy and number of family members. Students from families with more members are more financially literate than students from less membered families. The positive relationship between rationality and financial literacy is proven, despite being weaker than we expected. © Vilnius University, 2002-2019

Financial literacy of students in chosen universities: research platform for regulatory processes of educational system in Slovakia

The main goal of this paper is to compare the level of fi nancial literacy among the selected faculties of economics in Slovakia and to elaborate a comparison of fi nancial literacy level at both input and output level, i.e. between the university students at the beginning of their Bachelor study and the university students who are in the fi nal stage of their Master study. In addition, we want to analyze the level of fi nancial literacy by means of practical tasks aimed at confi rmation or rejection of the prospect theory principles. Concerning methods we statistically process our primary data which were collected through the survey 2015/2016 from Slovak University of economics in Košice, Prešov and Bratislava. Inter alia, we analyze correlative data dependence of selected variables. The survey is focused also on fi nancial behavior of respondents and their skills in terms of fi nancial literacy concept. Last but not least, we deal with features of respondents’ fi nancial decision making under the conditions of risk and uncertainty. At fi rst, we show that statistically signifi cant dependency of FL level on respondents’ sex does exist. Male respondents reached higher FL than female ones. Hypothesis of better high school education of economy at Business Secondary School was rejected, rate of fi nancially literate respondents who attended Grammar School or Business Secondary School is comparable. Subsequently, students in their last year of studies at EKF TUKE and NHF EUBA have signifi cantly higher level of FL than those students who are at the beginning of their studies. Contrary, at FM PU the rate of fi nancially illiterate fi rst-year students was lower than the rate of fi nancially literate students in their last year of studies. We found out a correlation of FL with decision-making based on prospect theory. The results of the presented research provide important information for policy makers who should refl ect on present status of this issue in Slovakia