Template-Type: ReDIF-Article 1.0 Author-Name: Nattarinee Kopecká Title: The IFRS 8 Segment Reporting Disclosure: Evidence on the Czech Listed Companies Abstract: The IFRS 8, the operating segments was converged of the IAS 14 and SFAS 131(US GAAP). It was issued in November 2006 and subsequently has been applied since 2009. The core of convergence is to reduce the differences between IAS 14 and SFAS 131. The IASB expected that a change would increase useful information for users and can be used as a single set of standard accounting for international trade. However, since the standard had been applied, it emerges advantages and disadvantages for users and entities on some issues. Particularly, internal management information issue that managers use as a compass to lead the company’s strategies and it conceals behind the scenes conventionally. The paper investigates a quality of information disclosure in the Czech listed companies. The important pillar is to analyse the quality of information disclosure and the effect of applying the standard. Keywords: IFRS 8 Segment Reporting, Chief operating decision maker (CODM) Classification-JEL: M41 Pages: 5-20 Volume: 2016 Issue: 2 Year: 2016 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=154.pdf File-URL: http://www.vse.cz/efaj/154 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2016:y:2016:i:2:id:154:p:5-20 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/154 Template-Type: ReDIF-Article 1.0 Author-Name: David Čevela Title: Quality of Information Disclosed in Annual Reports of Listed Companies in the Czech Republic Abstract: This article examines the periodic information duty of the companies listed on Prague Stock Exchange in relation to the information disclosed within annual reports. The most significant regulatory requirements in force as at December 31, 2013 are identified and divided into several sub-areas - requirements on the financial statements, Report on relations and the Report of the Board of Directors, notes and complementary information and financial position and financial results. The identified requirements are then confronted with actual information disclosed within annual reports of the companies analysed to assess the compliance with the applicable law and IFRS. The main objective of the research is to evaluate the degree to which the listed entities comply with the reporting requirements set by the current legal framework by means of a content analysis using a predefined scoring system. The concluding section summarizes the main findings and suggests further possible research in this area. Keywords: Prague Stock Exchange, Periodic disclosure, Disclosure quality Classification-JEL: G18 Pages: 21-36 Volume: 2016 Issue: 2 Year: 2016 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=155.pdf File-URL: http://www.vse.cz/efaj/155 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2016:y:2016:i:2:id:155:p:21-36 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/155 Template-Type: ReDIF-Article 1.0 Author-Name: Markéta Boučková Title: Quality of Disclosed Information with Emphasis on Goodwill Impairment Abstract: This paper focuses on an analysis of the mandatory disclosure of goodwill impairment information in compliance with the international accounting standard IAS 36. The international financial reporting standards require a wide range of disclosed information concerning the goodwill impairment such as the carrying amount of goodwill allocated to the cash generating unit, determination of the discount rate applied to areas such as cash flow projections or sensitivity analysis. Prior research on disclosure requirements of goodwill impairment has shown generally low level of compliance within the selected companies. The main goal of this paper is to find out whether companies with higher goodwill intensity disclose the information required by IFRS on the impairment of goodwill. An empirical approach consisted of analysing consolidated financial statements of selected companies listed on DAX 30 and FTSE 100 . Our sample covered 89 companies and focused on their statements from 2010 to 2013. The results showed generally low compliance that subsequently affected the comparability of statements. The following requirements were identified as critical - determination of growth rate, disclosure of growth rate used to extrapolate cash flow projections, determination of discount rate, discount rates applied to cash flow projections and disclosure of the sensitivity analysis. These findings can be further utilized by regulators in order to increase the quality of disclosures in financial statements. Keywords: Goodwill, IAS 36, Goodwill impairment, Mandatory disclosure Classification-JEL: M40 Pages: 37-52 Volume: 2016 Issue: 2 Year: 2016 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=156.pdf File-URL: http://www.vse.cz/efaj/156 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2016:y:2016:i:2:id:156:p:37-52 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/156 Template-Type: ReDIF-Article 1.0 Author-Name: Markéta Šeligová Title: The Effects of R&D Intensity and Tax Incentives on Firms Growth of PIGS Countries Abstract: The aim of this paper is to evaluate the effects of R&D intensity, R&D investment and tax incentives on firms’ growth in Portugal, Italy, Greece and Spain from 2002 to 2014. Another ambition of this paper is to identify which selected factors affected firms’ growth. The effect of variables such as the R&D intensity, generosity of tax incentives, capital intensity, profitability, firm size and firm sales was tested. Using panel regression analysis a positive influence R&D intensity and generosity of tax incentives at firms’ growth was recorded. Keywords: Firms growth, R&D Intensity, Tax subsidies Classification-JEL: H20, H25, O32 Pages: 53-68 Volume: 2016 Issue: 2 Year: 2016 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=157.pdf File-URL: http://www.vse.cz/efaj/157 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2016:y:2016:i:2:id:157:p:53-68 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/157 Template-Type: ReDIF-Article 1.0 Author-Name: Jaroslav DAŇHEL Author-Name: Eva Ducháčková Author-Name: Jarmila Radová Title: The Economic Paradigms Need to Be Updated Abstract: This contribution deals with the current problems of the stagnating European economy: a high level of debt, political instability and a lower level of ethics. The growth of the income gap in society is viewed as one of the most pressing problems. Reference is made to the ineffectiveness of traditional fiscal and monetary policy, the problematic nature of solutions based on new tools, such as quantitative easing, and the low level of the effectiveness of implemented regulatory projects, which reduce the efficiency of regulated business. In a quest for new approaches to correcting economic paradigms, the authors recommend greater anticipation of empirical and behavioural approaches, or, possibly, even a return to the beginning - ie. to the ideas of the free market. Keywords: Economic paradigms, State regulation, Behavioural approaches Classification-JEL: A11, B41, D69, D74, G02, G22 Pages: 69-76 Volume: 2016 Issue: 2 Year: 2016 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=158.pdf File-URL: http://www.vse.cz/efaj/158 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2016:y:2016:i:2:id:158:p:69-76 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/158