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Regionální input-output tabulky: praktické aspekty jejich sestavování pro kraje České republiky

Author(s): Jaroslav Sixta,Kristína Vltavská / Language(s): Czech Issue: 01/2016

The paper describes practical aspects of the compilation of regional input-output tables of the Czech Republic. Regional input-output tables (RIOTs) are not compiled by the official statistics. RIOTs represent a supplement of published indicators of regional accounts. The compilation of RIOTs is based on the combination of different data sources. The matrix of technical coefficients derived from national input-output tables represents the fundamental base of the tables. With respect to users, the results are consistent with macroeconomic aggregates and therefore they are directly suitable for economic modelling. Moreover, RIOTs comprise the examination of elementary relationships between regions and advanced structural analysis. The paper outlines how to develop the methodology of the regional input-output tables’ compilation and illustrates the possibility of regional structural analysis.

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Prediction of the Bankruptcy of Slovak Companies Using Neural Networks with SMOTE

Author(s): Miloš Tumpach,Adriana Surovičová,Zuzana Juhászová,Anton Marci,Zuzana Kubaščíková / Language(s): English Issue: 10/2020

Although the bankruptcy prediction models can be a stabilizing element on both macro and microeconomic levels, they are rather a domain of academic research than an instrument, widely applied in a business practice. It is especially true if the models are reflecting the conditions of countries of their origin, rather than countries of their intended uses. Besides, few of the models contain inherent flaws, including the absence of a methodical approach addressing this problem of the severely imbalanced representation of bankrupt companies in financial datasets. The article is focused on the use of oversampling with SMOTE (Synthetic Minority Oversampling Technique) algorithm under the condition of extremely imbalanced data sets of Slovak companies. While the model does not provide a single answer in many (if not most) of the situations, it still could be used for the selection of companies for which the more detailed (and expensive) analysis is not required.

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Are There Differences in the Financial Performance of Czech and Slovak Cluster Organizations?

Author(s): Natalie Pelloneová / Language(s): English Issue: 09/2021

This paper assesses differences in the financial performances of member businesses of selected cluster organizations in the Czech and Slovak Republics. The first research sample was comprised of member businesses of five cluster organizations operating in the Czech Republic. The second research sample was made up of member businesses of four cluster organizations operating in Slovakia. The aim of the research was to find out whether the financial performance of member businesses in Czech cluster organizations differed from the performance of member businesses in Slovak cluster organizations. The financial performance was assessed using selected financial indicators. The research results showed that member businesses of selected Slovak cluster organizations did not achieve any different financial performance. Finally, the possible causes of this situation are discussed.

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Proposal for the Measurement of Reinsurance Contracts under IFRS 17

Author(s): Silvia Zelinová,Miriama Blahušiaková,Tatiana Šoltésová / Language(s): English Issue: 03/2022

The paper introduces the proposal of the measurement model for insurance and reinsurance contracts in accordance with the new standard IFRS 17 Insurance contracts that will be effective as of January 1, 2023. The Standard does not contain formulas, but it is principle-based, which is why the selected method of general model measurement is a scientific benefit for the measurement of the insurance product. The application of the GMM method is not the same as that of the insurance company and the reinsurance company perspective, despite the same chosen actuarial assumptions. The scope of changes, which the new Standard offers, is comprehensive and brings new challenges, even for scientific purposes.

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Interest Rate Sensitivity of Savings Accounts

Author(s): Jiří Witzany,Martin Diviš / Language(s): English Issue: 04/2022

Interest rate risk measurement and management of non-maturity deposit balances presents a challenge for practitioners and academic researchers as well. The paper provides a review of several methodological approaches focusing on the area of savings accounts rate sensitivity modeling and estimation. The proposed interest rate sensitivity models are tested on a Czech banking sector dataset providing mixed results regarding the cointegration type models generally recommended in the literature. On the other hand, the analysis shows that simpler regression models may provide more robust results if the cointegration tests between the saving accounts rate and the market rate series fail. According to the empirical results, the sensitivity of the domestic savings rates is slightly higher for companies compared to rates for individuals, but in both cases well below 50%.

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Islamic accounting standards: historical retrospective, challenges and key players

Author(s): Mohammad Haroun Sharairi,Mohamoud Nassar,Abdulhadi H. Ramadan / Language(s): English Issue: 09+10/2023

A historical exploration of Islamic Accounting Standards is presented in this paper. The fundamental players’ roles in the emergence and expansion of Islamic accounting standards are also identified. To collect data, documents were examined and key players that are involved in the development of Islamic Accounting Standards were interviewed. It has been determined that the Dubai International Finance Centre (DIFC) primarily sets Islamic Accounting Standards in the UAE. Since the reporting standards and backgrounds of accountants may have global effects beyond their jurisdictions, this study suggests accounting standards setters with differences in the ideological and religious backgrounds should communicate with one another in an era of globalization.

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Internal auditor independence and audit quality: the influence of mediation role of professional ethics investigation (on the example of Gorontalo city inspectorate in Indonesia)

Author(s): - Usman,Tettet Fitrijanti,Roebiandini Soemantri,Poppy Sofia Koeswayo / Language(s): English Issue: 11+12/2023

This study aims to examine the effect of auditor independence on audit quality at the Gorontalo City Inspectorate, with professional ethics acting as a mediator or moderator variable. The method used in this study is a quantitative method, with primary data collection. This study uses a saturated sample or census, where the entire population is sampled, totalling 54 respondents consisting of 35 auditors and 19 P2UPD (Supervisors of the Implementation of Regional Government Affairs) in 2023. The data used is primary data collected through a questionnaire. The statistical analysis used is a non-parametric method with Partial Least Squares - Structural Equation Model (PLS-SEM) using SmartPLS Version 4 software. The results of the study indicate a positive and significant influence between internal auditor independence on audit quality through the role of professional ethics. In addition, it was found that the independence of internal auditors also has a positive and significant influence on audit quality at the Gorontalo City Inspectorate, as well as a positive and significant influence on the role of professional audit ethics, which in turn has an impact on the audit quality of the Gorontalo City Inspectorate.

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Business Sustainability Factors of Mining Companies Based on SEM Model

Author(s): Maja COGOLJEVIĆ,Violeta Jovanović,Sunčica Stanković / Language(s): English Issue: 06-07/2023

The main goal of the study is to determine the factors of business sustainability, that is, to investigate the effect of knowledge management (KM) on green innovation (GI) and sustainable business (SB), both at the constructs and at the dimensional level, as well as to investigate whether green innovation is a mediator in the relationship between KM activities and SB, and between KM and SB dimensions of mining companies. The research and pilot test were carried out between March and mid-July 2022, and 288 employees from 32 Serbian mining companies were selected using a non-probabilistic convenience sample. The causal relationship between KM, GI, and the SB of the mining industry was assessed using the structural equation modeling methodology. The bootstrap procedure was used to assess the indirect effects of KM through GI on SB and its dimensions. The results showed that KM significantly influences GI and SB, both at the constructs and at the dimensional level. In addition, GI significantly determine SB. At the dimensional level, each of the dimensions of KM significantly affects the dimensions of GI and the SB dimensions. The impact of GI dimensions on the SB dimensions are also significant. The relationship between KM and SB, as well as KM and SB dimensions, was found to be partially mediated by GI.

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Performance of Family Businesses in the Specific Conditions of CEE Countries: The Case of the Czech Republic

Author(s): Eva MICHALÍKOVÁ,Jan Pěta,Pavla Srbová,Michal Karas,Mária Režnáková / Language(s): English Issue: 03-04/2024

Many authors point out that family businesses in the CEE region due to a different historical development might exhibit specific features and because of that deserve specific attention. The presented paper aims to contribute to this effort by exploring factors driving the performance of family businesses in the Czech Republic, in course of the research a panel of 7,995 businesses was analyzed by using the linear mixed effects model. The common problem of missing data, especially on micro-enterprises, was addressed by using CHAID methodology. We found that the factors driving family business performance differs between micro and SMEs segments of businesses, while the effect of families is most significant in terms of the model’s slope rather than constant.

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The significance of tax risk for Polish companies based on the findings of an empirical study

Author(s): Izabela Witczak / Language(s): English Issue: 2/2024

Discussion of the problem of tax risk based on the empirical study.The paper explains the main aspects of tax risk, tax risk areasand its assessment. Critical analysis of existing literature and taxlaws. Conclusions are formulated using a deductive method in theframework of tax theory and based on the analysis of tax laws andthe author’s survey into the problem of tax risk conducted in theWielkopolskie voivodeship in 2020. The survey results show thatmanagers are increasingly aware of the tax risks associated withthe activities of their companies and the industries in which theyoperate. They also indicate that, regardless of their size, compa-nies should use tax risk management systems aligned with theirtax strategies and managed by qualified staff. The article contrib-utes to the analysis of tax risk.

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Tax Progressivity and R&D Employment

Author(s): Diego d'Andria / Language(s): English Issue: 1/2024

We study the relationship between tax progressivity and the size of the R&D workforce, using a panel of European countries in 2000-2019. Design/methodology/approach: We review the theoretical literature which provides opposing predictions about such a relationship. Next, we develop a set of econometric models to test for different predictions offered by the reviewed theory. Findings: We demonstrate that the relationship between tax progressivity and the size of the R&D workforce exists as a "within" effect, it is negative, meaning that a larger tax progressivity is associated with smaller shares of employment in R&D activities, and it remains statistically significant after performing several robustness tests. Differently to previous studies based on patenting inventors, we find no effect due to top tax rates on the size of R&D employment. Our results support the view that the market for R&D works is best described using models based on information asymmetry. Research limitations/implications: Our results bring important policy implications: it is not the level but rather the shape of the tax schedule which may cause tax-induced social cost by reducing the available R&D workforce. Originality/value: This is the first study explicitly focusing on the effects of tax progressivity on the job market for R&D workers, thus enriching previous literature on the taxation of scientists and technical workers.

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Does CEOs' Educational Background Influence Firms' ESG Performance?

Author(s): Epameinondas KATSIKAS,Konstantinos Athanasiadis,D. N. Koufopoulos / Language(s): English Issue: 1/2024

This paper explores the relationship between CEO educational background and corporate social responsibility (CSR) performance in FTSE100 companies in the UK. Design/methodology/approach: The study uses ESG scores to measure CSR performance, and examines the impact of CEO's university ranking, educational attainment, professional background, MBA background, and participation in advanced management programmes on firms’ ESG performance. Findings: CEO educational background is considered to be an indicator of intelligence, as better-educated CEOs are thought to have greater management skills, experience, and innovation. However, we provide evidence that there is no significant association between CEO educational background and CSR performance in FTSE100 companies. Research limitations/implications: Overall, we add new evidence to a growing body of literature studying the association between personal characteristics of corporate executives and corporate social responsibility. Originality/value: This paper differs from previous articles that focus on the relationship between chief executive officer (CEO) characteristics and corporate social responsibility but instead attempts to answer the question of whether CEO educational background affects corporate social responsibility performance. Most of the literature examining CEO educational background links it to firm performance.

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IS THE REPORTING METHOD OF OPERATING CASH FLOWS A DIFFERENTIATOR FOR EARNINGS MANAGEMENT AND CORPORATE PERFORMANCE?

Author(s): Ecaterina Malai,Camelia Iuliana Lungu / Language(s): English Issue: 3/2023

This paper evaluates earnings management in the context of the two cash-flow reporting methods, using the Jones Model (1991) modified by Kothari et al. (2005), and analyses the corporate performance on the Romanian capital market. The research sample of 114 observations resulted from 57 companies listed on the Bucharest Stock Exchange is studied for a 2-year span: 2019-2020. The earnings management testing is carried out in the SPSS using the independent samples T-test aiming to identify whether the levels of earnings management practices for companies applying the indirect method and the direct one are significantly different. Moreover, an analysis of the corporate performance indicators ROA, EPS and CFO is carried out assuming that earnings management may be one of the factors explaining a higher level of performance for the companies using the indirect method. Additionally, the results are analysed in the context of the pandemic crisis (year 2020) compared with non-crisis period (year 2019), supposing that COVID-19 could affect corporate earnings management behaviour. The results show that during the health crisis, managers didn’t boost up the company`s earnings and tried to overcome financial difficulties. As to the earnings management testing, findings highlight that companies applying the indirect method are not engaged more in earnings management than those applying direct method. Therefore, their higher performance in some periods cannot be explained by earnings manipulations.

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RELEVANȚA INFORMAȚIEI CONTABILE PE PIAȚA DE CAPITAL DIN ROMÂNIA

Author(s): Cărea Andrei / Language(s): Romanian Issue: 3/2023

This study examines the relevance of accounting information for companies listed on the capital market in Romania. In order to study the evolution of the relevance of accounting information, the regression model developed by economist Ohlson in 1995 was used. Based on the information presented by the sampled companies in their financial statements, the study focuses on analyzing the evolution of the relevance of accounting information between 2008 and 2021, a period characterized by numerous legislative changes such as the adoption of the International Financial Reporting Standards (IFRS) and the mandatory application of these standards for listed companies. The study's conclusions reflect a positive correlation between stock price and earnings per share, as well as between stock price and book value per share for the entire period analyzed. The study's results also confirm the third hypothesis, that book value per share and earnings per share are significant factors in determining stock price, therefore, both variables should be considered by investors considering potential investments.

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BACP-LRS: Blockchain and IPFS-based Land Record System

Author(s): Insaf Boumezbeur,Abdelhalim Benoughidene,Imane Harkat,Farah Boutouatou,Dounia Keddari,Karim Zarour / Language(s): English Issue: 1/2025

Background: Land records have traditionally derived their credibility from a central database of local government records, with copies issued to land owners. Physical records are the only credible source of any information related to land ownership that has been in existence for a long time. However, physical records are prone to manipulation and fraud. Recently, some academic research has begun to address the potential use of blockchain technology to improve the security and reliability of land registration processes. Objective: The purpose of the present work is to propose an architecture for blockchain-based access control for distribution, ensuring information privacy. We take advantage of the benefits of blockchain technology in improving land record management while granting access to electronic data through user permissions. Methods: This approach replicates cryptographic primitives, while smart contracts are used to assist land record owners and users in interacting with each other using the Ethereum blockchain in the proposed system. The approach includes performance evaluation by the execution of a smart contract and security analysis to check the system robustness. Results: The performance evaluation and security analysis prove the proposed blockchain architecture to be secure and feasible for practical implementation in managing land records. Conclusion: The research proves how the application of blockchain technology can significantly enhance both security and reliability in land registration processes, giving credibility to tamper-resistant systems for maintaining information about land ownership.

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Induced Partitioning for Incremental Feature Selection via Rough Set Theory and Long-tail Position Grey Wolf Optimizer

Author(s): Said Al Afghani Edsa,Khamron Sunat / Language(s): English Issue: 1/2025

Background: Feature selection methods play a crucial role in handling challenges such as imbalanced classes, noisy data and high dimensionality. However, existing techniques, including swarm intelligence and set theory approaches, often struggle with high-dimensional datasets due to repeated reassessment of feature selection, leading to increased processing time and computational inefficiency.Objective: This study aims to develop an enhanced incremental feature selection method that minimizes dependency on the initial dataset while improving computational efficiency. Specifically, the approach focuses on dynamic sampling and adaptive optimization to address the challenges in high-dimensional data environments.Methods: We implement a dynamic sampling approach based on rough set theory, integrating the Long-Tail Position Grey Wolf Optimizer. This method incrementally adjusts to new data samples without relying on the original dataset for feature selection, reducing variance in partitioned datasets. The performance is evaluated on benchmark datasets, comparing the proposed method to existing techniques.Results: Experimental evaluations demonstrate that the proposed method outperforms existing techniques in terms of F1 score, precision, recall and computation time. The incremental adjustment and reduced dependence on the initial data improve the overall accuracy and efficiency of feature selection in high-dimensional contexts.Conclusion: This study offers a significant advancement in feature selection methods for high-dimensional datasets. By addressing computational demands and improving accuracy, the proposed approach contributes to data science and machine learning, paving the way for more efficient and reliable feature selection processes in complex data environments. Future work may focus on extending this method to new optimization frameworks and enhancing its adaptability.

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Zmiany technologiczne a struktura rynku pracy w Polsce

Author(s): Dorota Ciesielska-Maciągowska,Małgorzata Skrzek-Lubasińska / Language(s): English Issue: 199/2024

The labor market is a complex system of financial and social connections that evolves under the influencefactors in global economy, such as the use of artificial intelligence, intelligent machines, digitalisation,big data, and cloud services. The current transformation of global work criteria has led to many taskspreviously performed by employees being entrusted to artificial intelligence and intelligent machines,as well as being standardized due to the increasing use of IT tools by enterprises. The purpose of thisarticle is to verify whether, in the period of 2019–2021, technological changes and digitalization in Po-land significantly influenced shifts in labor demand and the structure of the labor market. The studyalso examines the correlation between employment flexibility (measured by the share of self-employedindividuals) in various sections of the NACE classification and the dynamics of changes in job numbers.The conducted analysis did not confirm that the development of new technologies in Poland reduceslabor demand. On the contrary, the most dynamic increase in job numbers during 2019–2021 was ob-served in the most technologically advanced industries. New technologies in Poland contribute to thecreation of new jobs rather than their elimination.

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PRE AND POST IFRSS EFFECT ON EARNINGS PREDICTABILITY: NIGERIAN LISTED COMPANIES IN PERSPECTIVE

Author(s): Oluwasegun Temitayo Odunsi,Sunday Azeita Okoughenu / Language(s): English Issue: 3/2024

To improve the quality of accounting information aimed at facilitating stakeholders' decision-making, such as predicting earnings (EP), the International Financial Reporting Standards (IFRSs) emerged as a globally accepted accounting standard, replacing Generally Accepted Accounting Principles (GAAPs), issued by the International Accounting Standards Board (IASB). Consequently, numerous studies have examined the impact of adopting IFRSs, revealing mixed findings, yet a dearth of evidence exists regarding all listed companies in Nigeria. This study evaluates the effects of pre-and post-IFRSs adoption on EP among companies listed on the Nigerian Stock Exchange (NSE). Utilizing secondary data sources, the study encompasses a population of 168 companies listed on the NSE as of December 31, 2020. Furthermore, the companies in the sample provided annual reports and accounts spanning from 2003 to 2011 for the pre-IFRSs period and from 2011 to 2020 for the post-IFRSs period. The study adopted Ewododhe's (2011) methodology and determined a sample size of fifty-six (56) companies listed on the NSE. Analysis was conducted using Pools, Fixed Effect, and Random Effect estimates. The findings revealed that the period following the adoption of IFRSs did not significantly impact EP proxies, namely Earnings Before Tax (EBT) and Cash Flow from Operations (CFO). Consequently, the study concluded that the adoption of IFRSs among NSE-listed companies did not yield a substantial effect on EP, which could aid stakeholders in predicting future earnings from their investments. Thus, the study recommended that stakeholders of NSE-listed companies should not solely rely on EBT and CFO under IFRSs adoption for forecasting future earnings. Instead, they should consider nonfinancial indicators such as management competence and integrity, market share growth, and the quality of management strategies and policies.

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EXPLORING THE INTERSECTION OF COMPUTER SCIENCE AND ACCOUNTING: AN OVERVIEW

Author(s): Anda Ileana Necula,Mihai Constantin,Mihaela Hortensia Hojda,Liviu Constantin Dafina / Language(s): English Issue: 4/2024

The evolution of accounting through technology, particularly Accounting Information Systems (AIS), has revolutionized the field. AIS integrates information systems and technology to streamline processes, enhancing efficiency, accuracy, and decision-making. It collects, stores, and processes financial data, providing real-time insights for management and stakeholders. While AIS offers numerous benefits, such as automation and improved reporting, it also presents challenges like the need for continuous technological adaptation and cybersecurity risks. Despite challenges, AIS has various applications including financial reporting, budgeting, auditing, and inventory management. Emerging trends like automation, cloud computing, and blockchain integration promise further advancements, empowering accountants to focus on strategic analysis. The future of AIS holds potential for enhanced efficiency, agility, and decision support, necessitating accountants to stay abreast of technological innovations for optimal utilization.

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DIFFERENCES REGARDING COST CALCULATION IN ABSORPTION COSTING METHOD AND VARIABLE COSTING METHOD

Author(s): Cristina Aurora Bunea-Bontaş / Language(s): English Issue: 4/2024

The cost of the product is the basis for calculating the cost of goods sold, and the net operating income. Given the difference between the accounting treatment of fixed overhead, the variable and absorption-costing methods may lead to different operating income figures. Absorption costing method allocates all manufacturing costs to the product cost that is direct materials, direct labour, and variable and fixed manufacturing overhead. Under this method, fixed overhead is assigned to the product cost and is expensed in the reporting period that the product is sold. Variable costing method takes into account the difference between fixed and variable manufacturing costs. This method assigns only variable manufacturing costs to the cost of the product and fixed overhead is treated as a period expense being excluded from the product cost.

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