Czech Financial and Accounting Journal, 2022 (vol. 2022), issue 2
Articles
20th century approaches to accounting for the effects of inflation
Jaroslava Janhubová, Miloslav Janhuba
Český finanční a účetní časopis 2022(2):5-18 | DOI: 10.18267/j.cfuc.574 
Paper deals with the effects of inflation on business management and the ways of expressing them in financial statements from a historical point of view. It points to the constructions of classical balance sheet theories, which arose as a reaction to the development of inflation in Germany after the First World War, with special attention to one of them: the organic balance sheet theory Schmidt’s, first published a hundred years ago. The organic balance sheet is in many respects the predecessor of the contemporary reporting of value data mainly in the proper (real) price [fair value], with the fact that Schmidt also derived the determination...
Are the Czech, Polish, German and Dutch markets taking a random walk?
Jitka Veselá, Alžběta Zíková
Český finanční a účetní časopis 2022(2):19-38 | DOI: 10.18267/j.cfuc.575
In efficient markets, asset prices perform a random walk. Excessive returns cannot be repeatedly and systematically achieved in such markets. To test the weak form of market efficiency, statistical tests are used to identify dependencies in the movements of asset prices. This paper deals with testing of the weak form of market efficiency using daily data of the development of stock indices on the Czech, Polish, German and Dutch markets in the period 2001-2022. The article uses the runs test, the autocorrelation analysis, two variants of the unit root test and the variance ratio test. The results of the tests performed are mixed. The weakly efficient...
Electronic support of participatory budgeting in Slovakia?
Martina Benzoni Baláž, Juraj Nemec
Český finanční a účetní časopis 2022(2):39-50 | DOI: 10.18267/j.cfuc.576
Since the global debut of participatory budgeting (PB) in 1989, the pilot case in Slovakia in 2011 until the post-covid present, PB takes on many different shapes and forms. Despite several common characteristics, the use of information and communications technologies (ICT) in Slovakia for PB purposes remains extremely fragmented. That is why this article, as the first of its kind, presents an overview of the individual processes of participatory budgeting and the extent to which municipalities in Slovakia use ICT and the online environment to bring them closer to citizens. This article presents the results of exploratory research and analyses the...
Electronic financial reporting in the Czech Republic: an empirical analysis of ESEF implementation
Oto Křivanec
Český finanční a účetní časopis 2022(2):51-68 | DOI: 10.18267/j.cfuc.577
The article examines how issuers of publicly traded securities comply with the EU Regulation on the European Single Electronic Format (ESEF) and related rules of the Czech National Bank. Based on a set of criteria, the paper empirically assesses the degree of formal compliance with the electronic disclosure obligations in a sample of Czech issuers. The analysis of data for the year 2020 reveals that issuers that are part of economic units for which consolidated financial statements are prepared in accordance with IFRS comply with formal disclosure obligations to a greater extent than issuers that prepare only individual financial statements in accordance...
Carbon reporting: evidence from the Czech financial sector
Ladislava Volková
Český finanční a účetní časopis 2022(2):69-87 | DOI: 10.18267/j.cfuc.578
This paper is a quantitative content analysis followed by qualitative analysis that aims to give evidence on carbon emissions disclosures of Czech banks and insurance companies in the period 2019–2021. It narrows literature review on Carbon accounting with focus on the Czech Republic. It further analyses carbon footprint reporting of the financial companies with focus on GHG emissions protocol and carbon financing. It tests hypothesis that large corporations and multinational firms have better ESG disclosure than small local Czech firms. It adds to the current knowledge how environmental reporting progressed in the past couple year. Additionally,...