The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from Slovenia

Abstract

We provide an overview of the role and current status of International Financial Reporting Standards (IFRS) in the development of national accounting rules in Slovenia. The basic requirements of the financial reporting in Slovenia are set in the Companies Act, while the Slovenian accounting standards (SAS) provide a detailed authoritative guidance, especially on measurement. We describe the (historical) relations of all four editions of SAS with IFRS, provide explanations for the close alignment of SAS 2006 and SAS 2016 with IFRS, and identify major differences. In addition, the paper covers the adoption of the new EU accounting Directive into Slovenian legislation.     

Reorganizing Czech Businesses: A Bankruptcy Law Reform under a Recession Stress‐Test

The new Czech Insolvency Act, featuring a brand new reorganization option for business debtors, has now been in force for over 3 years—a period of a severe downturn in the Czech (and the global) economy. This presents an opportunity to observe the workings of the new insolvency law on a “recession‐loaded” empirical dataset extracted from the on‐line insolvency register also introduced as part of the reform. This is the goal of this article, the subject matter of which is an initial empirical look at insolvency proceedings conducted over debtors whose reorganization attempts had been allowed in the years 2008 and 2009. Copyright © 2011 John Wiley & Sons, Ltd.     

Les ambiguïtés du commerce équitable: construire un marché juste ou juste construire un marché?

Le projet du commerce équitable est de développer un commerce différent du commerce «conventionnel» en permettant notamment une juste rémunération des producteurs du Sud. Les différences entre les deux commerces sont bien souvent présentées comme allant de soi. Or, l'examen à la fois du fonctionnement du marché équitable et de l'idéal visé par ses promoteurs montre certaines convergences avec le commerce «conventionnel». Cet article rend compte de ces convergences.     

Why is the Doha Development Agenda Failing? And What Can Be Done? A Computable General Equilibrium–Game Theoretical Approach

We use a world computable general equilibrium model to simulate 143 potential trade reforms and seek solutions to the issues hampering progress in the Doha Development Agenda (DDA). Inside the domain defined by all these possible outcomes, we apply the axiomatic theory of bargaining and select the Nash solution of cooperative games. The solutions vary according to the objective functions adopted by the trade negotiators. When real income is the objective and services are excluded, or when optimising terms of trade is the objective, the Nash solution is the status quo. Trade liberalisation is feasible only when the negotiators focus on national exports or gross domestic product (GDP). Our assessment of some possible solutions reveals that excluding members having a GDP below a certain threshold improves the bargaining process, regardless of the governments’ objective. Formation of coalition, such as the G20, constitutes an option for its members to block outcomes imposed by rich members. We also find that side payments may be a solution, but represent a very high share of the global income gain.     

Factors Associated with the Adoption and Use of Management Accounting Techniques in Developing Countries: The Case of Romania

The purpose of this article is to investigate and analyze through the lens of contingency theory the existence and use of management accounting techniques in Romanian entities, with an in‐depth consideration of the institutional factors characterizing the environment of this country. Using a sample of 109 respondents, we identify factors associated with the existence and use of management accounting techniques in a context where organizational practices are subject to variations, resource and training scarcity, and uncertainty. Our findings indicate that the most important factors are the type of capital and size. The adoption and use of management accounting techniques are mostly associated with the presence of foreign capital as a defining feature of the Romanian environment. However, we find limited statistical support for the importance of the environment and competition, factors usually related to the use of such techniques in other developing countries.     

Corporate entrepreneurship in a dispersed setting: actors, behaviors, and process

Although conceptual models of the corporate entrepreneurship process are numerous, our current empirical knowledge regarding it remains fragmented, especially concerning the contributions of individual employees to corporate entrepreneurship. Thus, two important questions remain unanswered: How do employees from different managerial ranks of an organization contribute to the corporate entrepreneurship process, and how do these contributions change as the project unfolds over time? In the current research, we aim to answer these questions and offer an integrative framework for the corporate entrepreneurship process that would account for dynamic contributions of multiple actors through their activities and behaviors. We approach these questions in a specific context by studying three cases within a large company in a dispersed corporate setting.     

An empirical analysis of communication flow,strategy and stakeholders' participation in the risk communication literature 1988–2000

Risk communication during the years has shown its vitality and has proved its importance as a field of research. This article provides a brief record of the development of risk communication in the environmental and technological domain by examining some of the trends resulting from the analysis of the theoretical and empirical literature in the field, as it is available through scientific journals. In total, 349 peer‐reviewed articles published between 1988 and 2000 and listed in the ISI Web of Science databases were analyzed. The theoretical perspective that we use is that of control mutuality, which emphasizes the interaction between the parties in the risk decision‐making process and their mutual influence, rather than simply unidirectional control of one stakeholder over the other. It echoes the democratic perspective, but also considers the rationality of the technical standpoint.

The results indicate that over the whole period there is an increase in published articles on risk communication. As expected, we found a gradual decrease in the articles referring to a one‐way flow of risk communication and an increase of those concerned with two‐way communication. We also observed a gradual increase in the articles referring to stakeholder participation in risk decisions in the last period. No differences were found with respect to risk communication strategy.     

Accounting for heterogeneity in cross‐country bank efficiency comparisons

In this article, we investigate the significance of the heterogeneity problem in banking efficiency research by using stochastic frontier techniques. The cost frontier function is estimated on a sample of banks from new European Union members from Central and Eastern Europe and the Baltics (CEEB) for the 1998–2007 period. The results imply that environmental variables can only partly control for the presence of heterogeneity in the sample. By employing the ‘true’ random‐effects model as originally proposed by Greene (2005a, 2005b) , the unobserved heterogeneity that is typically associated with the complexity of the banking environment is additionally taken into account. This approach is found to result in considerably smaller differences in average country efficiency levels, which implies that CEEB countries represent a relatively homogeneous group in terms of bank performance.     

Multiple-Object Auctions with Budget Constrained Bidders

A seller with two objects faces a group of bidders who are subject to budget constraints. The objects have common values to all bidders but need not be identical, and may be either complements or substitutes. In a simple complete information setting we show: (1) if the objects are sold by means of a sequence of open ascending auctions, then it is always optimal to sell the more valuable object first; (2) the sequential auction yields more revenue than the simultaneous ascending auction used recently by the FCC if the discrepancy in the values is large, or if there are significant complementarities; (3) a hybrid simultaneous-sequential form is revenue superior to the sequential auction; and (4) budget constraints arise endogenously.