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

Abstract

The aim of this paper is to characterize the extent to which International Financial Reporting Standards (IFRS) is used as a reference point for national accounting rules in the Czech Republic (CR) and what elements are incorporated in Czech Accounting Regulation, paying particular attention to the latest amendment to the Accounting Act (AA) based on the EU accounting Directive (2013/34/EU). Methods used include analysis of Ministry of Finance documents, interviews with the team members who participated in the new wording of the AA to adapt it to the EU Directive and comparison of current to existing IFRS reporting rules. The results confirm that IFRS implementation in the CR is determined by economic and institutional factors, a major part of which is played by foreign ownership of dominant Czech companies and their subordinate position as subsidiaries of foreign entities and the weak capital market. Implementation of elements of IFRS into Czech accounting standards is still only partial. This process takes place as an integral part of the process of reorientation of the entire economic system toward market principles, which includes the accounting system. Each change of the AA involves some elements of IFRS; however, between the two systems, there are still significant differences, the roots of which lie in a different (continental) model of accounting.     

Retailing in the Transition Economies of Poland and Romania: A Comparative Analysis

This research compares and contrasts the current state of development in the retailing industry in the transition economies of Poland and Romania. Two issues examined in this research are (a) the process of market reforms and resulting developments in store-based and non-store retailing, including the competition among large multinational retail chains and small local retail stores, and (b) the structure of the retail industry in terms of market share of 17 different categories of retailers within their respective sectors, namely, grocery retailers, specialty retailers, and non-store retailers, and overall growth registered by these retailers in the last 5 years (2004–2009). Managerial implications of the findings in terms of the opportunities and challenges in different categories of retailing business in the two countries are discussed, and directions for future research are identified.     

Collective Entrepreneurship in a Mennonite Community in Paraguay

ABSTRACT

This article examines the impact of prevailing religious beliefs on the dominant view toward work and achievement. The focus of the article is the Menno Colony of the Chaco, one of the Mennonite communities in Paraguay. It illustrates that the values of this religious minority appear to facilitate successful collective entrepreneurship. Here, religion values asceticism, frugality, and thrift, but not private property. Entrepreneurship takes a collective form, and cooperatives are important economic vehicles that provide jobs for indigenous workers and markets for the produce of self-employed farmers. While Mennonite cooperatives are thriving here, Indian cooperatives modelled after them have not had the same levels of success.

RESUMEN. Este estudio examina el impacto producido por las creencias religiosas sobre una visión predominante hacia el trabajo y los logros. El artículo se centra en la Colonia Meno del Chaco, una de las comunidades Menonitas que existen en Paraguay. También hace hincapié en que los valores de esta minoría religiosa parecen facilitar un empresariado colectivo exitoso. En este entorno, la religión valor el ascetismo, la frugalidad y la economía pero no la propiedad privada. El emprendedorismo adquiere un modelo cooperativista y las cooperativas se convierten en importantes vehículos económicos que generan trabajo a los trabajadores indígenas, y mercados para los productos de los agricultores autónomos. Mientras las cooperativas Menonitas prosperan aquí, las cooperativas indígenas que copiaron su modelo, no han alcanzado los mismos niveles de éxito.

RESUMO. Este estudo examina o impacto das crenças religiosas predominantes sobre a maneira de encarar o trabalho e o sucesso. O artigo enfoca a Colônia Menno do Chaco, uma das comunidades menonitas do Paraguai. Mostra que os valores dessa minoria religiosa parecem facilitar o sucesso do empreendedorismo coletivo. Aqui a religião valoriza o ascetismo, frugalidade e parcimônia, mas não a propriedade privada. O empreendedorismo assume uma forma coletiva e as cooperativas são veículos econômicos importantes, proporcionando empregos para trabalhadores nativos e mercados para a produção de fazendeiros autônomos. Enquanto as cooperativas menonitas prosperam, cooperativas indígenas que seguem seu modelo não alcançaram os mesmos níveis de sucesso.     

Security and Fear: The Geopolitics of Intimate Partner Violence Policing

This paper builds upon feminist critiques of security interventions in the name of ‘protecting women’ to link United States municipal policing practices for intimate partner violence with global security interventions. Policing intervention into intimate partner violence emerged in the last twenty-five years; however as I argue, these policing practices are situated within narrow conceptions of masculinist security that often fail to address victims' multiple security needs. While not dismissing the importance of arresting intimate partner violence abusers, this paper examines the ways that policing can create additional and different embodied fears and insecurities for victims. Using the tools of emotional geopolitics, this paper traces victims’ fears following the arrest of their abuser to understand the temporal and spatial moments of fear in relation to security interventions. This methodological approach examines the limitations of masculinist protection while reimagining security to consider the emotional security needs and fears of those being protected.     

Momentarily Understanding the Contemporary Moment: Reflections on Koans,Politics, and Leisure

Abstract

A koan is a paradoxical riddle used to help practitioners of Zen Buddhism in their quest for non attachment. The idea of the koan can also be helpful as we attempt to make sense of the current social, historical and political moment. Do the events of 2018 reflect reality or reflect a temporal moment in reality? This essay ponders the meaning of attachment, letting go and taking action vis-à-vis the politics of leisure.     

Strategic and Natural Risk in Entrepreneurship: An Experimental Study

We report on the results of experiments where participants choose between entrepreneurship and an outside option. Entrepreneurs enter a market and then make investment decisions to capture value. Payoffs depend on both strategic risk (i.e., the investments of other entrepreneurs) and natural risk (i.e., luck). Absent natural risk, participants endogenously sort themselves into entrepreneurial and safe types, and returns from the two paths converge. Adding natural risk fundamentally changes these conclusions: Here we observe excessive entry and excessive investment so that entrepreneurs earn systematically less than the outside option. These payoff differences persist even after many repetitions of the task. With a risky outside option, entry further increases and about one‐third of entrepreneurs adopt a passive strategy, investing little or nothing. Finally, we examine an environment where an individual must become an entrepreneur but chooses the stakes over which she will compete. Due to under‐entry and under‐investment in the high stakes setting, the returns gap grows to over 15 percentage points. A two‐factor model incorporating loss aversion and love of winning can rationalize these returns patterns.     

The impact of persistence with therapy on inpatient admissions and emergency room visits in the US among patients with multiple sclerosis

Objective:

Disease-modifying therapy (DMT) for multiple sclerosis (MS) can reduce relapses and delay progression; however, poor adherence and persistence with DMT can result in sub-optimal outcomes. The associations between DMT adherence and persistence and inpatient admissions and emergency room (ER) visits were investigated.

Methods:

Patients with MS who initiated a DMT in a US administrative claims database were followed for 1 year. Persistence to initiated DMT was measured as the time from DMT initiation to discontinuation (a gap of >60 days without drug ‘on hand’) or end of 1-year follow-up. Adherence to initiated DMT was measured during the persistent period and was operationalized as the medication possession ratio (MPR). Patients with an MPR <0.80 were considered non-adherent. Claims during the 1-year follow-up period were evaluated for the presence of an all-cause inpatient admission or an ER visit. Adjusted odds ratios (AORs) for inpatient admission or ER visit comparing persistent vs non-persistent and adherent vs non-adherent patients were estimated using logistic regression models adjusted for patient characteristics.

Results:

The final sample included 16,218 patients. During the 1-year follow-up period, 35.3% of patients discontinued their initiated DMT and 13.9% were not adherent while on therapy. During that same period, 10.0% of patients had an inpatient admission and 24.9% had an ER visit. The likelihoods of inpatient admission and ER visit were significantly decreased in persistent patients (AOR [95% CI]?=?0.50 [0.45, 0.56] and 0.65 [0.60, 0.69], respectively) and in adherent patients (AOR [95% CI]?=?0.83 [0.71, 0.97] and 0.86 [0.77, 0.95], respectively).

Conclusions:

Persistence and adherence with initiated DMT are associated with decreased likelihoods of inpatient admission or ER visit, which may translate to improved clinical outcomes.     

The role of financial analysts in stock market efficiency with respect to annual earnings and its cash and accrual components

This study examines biases in stock prices and financial analysts' earnings forecasts. These biases take the form of systematic overweighting or underweighting of the persistence characteristics of cash versus accrual earnings components. Our evidence suggests that stock prices tend to overweight and financial analysts tend to underweight these persistence characteristics. Furthermore, we find that analysts' underweighting attenuates stock price overweighting. However, we find little evidence that the overweighting in stock prices attenuates analyst underweighting. This study brings a new perspective to the literature regarding the disciplining role of financial analysts in capital markets.     

International entrepreneurship research agendas evolving: A longitudinal study using the Delphi method

Journal of International Entrepreneurship - The heterogeneity of research topics in international entrepreneurship (IE) makes the identification of a convergent research agenda difficult....