Multi-Criteria Evaluation of the Institutional and Tax Environment for Business in the EU Economies

Charalampos Kalligosfyris, Zacharias Dermatis, Eleni Kalamara and Athanasios Anastasiou
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Charalampos Kalligosfyris: Department of Management Science and Technology, University of Peloponnese, 22131 Tripoli, Greece
Zacharias Dermatis: Department of Management Science and Technology, University of Peloponnese, 22131 Tripoli, Greece
Eleni Kalamara: Department of Economics, University of Peloponnese, 22131 Tripoli, Greece

Economies, 2024, vol. 12, issue 7, 1-17

Abstract: The purpose of this study is to evaluate the institutional and tax environment for businesses in 21 countries of the European Union (EU), using a multi-criteria analysis and, in particular, the PROMETHEE II method, based on thirteen evaluation criteria and the ranking of the European economies. Through the research, the importance of factors related to the efficiency of the tax administration, the tax capacity of the country, the growth rate of the economy, the quality of institutions, the level of corruption, the tax burden, the time of tax compliance and the political stability of the country is studied, in the formation of an attractive environment for the development of entrepreneurship in the EU economies. Moreover, the results of the analysis revealed the existence of significant fiscal and institutional differences between the EU economies under investigation, regarding the development of entrepreneurship. These differences are due to the size of the economy, the institutions, the history, the economic crises of each country and a wide range of dissimilar policy recommendations, which reflect asymmetric policy responses. The study concludes by offering theoretical and political recommendations to improve the institutional and fiscal environment in EU economies so that entrepreneurship can play an important role in improving the economic and social situation of a country.

Keywords: entrepreneurship; tax environment; institutions; multi-criteria; PROMETHEE II; institutional asymmetries (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2024
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