The Impact of Globalization on International Finance and Accounting (eBook)

18th Annual Conference on Finance and Accounting (ACFA)

David Procházka (Herausgeber)

eBook Download: PDF

2017 | 1st ed. 2018
IX, 484 Seiten
Springer International Publishing (Verlag)
978-3-319-68762-9 (ISBN)

Infos

This proceedings volume analyzes the impact of globalization on international financial flow as well as harmonized financial reporting. Featuring contributions presented at the 18^th Annual Conference on Finance and Accounting held at the University of Economics in Prague, this book examines the economic consequences of the globalized world in the sphere of corporate and public finance, monetary systems, banking, financial reporting and management accounting. The global perspective is accompanied by local specific cases studies, including those from emerging markets. In addition, the combination of micro- and macroeconomic approaches provide insights on the behavior of all relevant stakeholders in the process and the results of dynamic pressures surrounding global capital markets and international investments.  This book will serve as a useful resource for scholars and researchers, practitioners and policy makers in the fields of finance, economics and accounting.

Inhalt

Contents 6
The Impact of Corporate Income Taxation on Location Choice of Investments: Separate Accounting Versus Formula Apportionment 11
Introduction 11
Theoretical Model 14
Assumptions Without Taxation 14
Assumptions Regarding Taxation Under SA 15
Assumptions Regarding Taxation Under FA 16
Monte Carlo Simulation 17
Results and Discussion 18
Outcomes Without Taxation 18
Outcomes Under SA 19
Outcomes Under FA 20
Conclusion 22
References 23
Environmental Sustainability as a Determinant of Foreign Direct Investments: Empirical Evidence from Sweden 25
Introduction: Research Problem and Purpose 25
Theoretical Model, Method and Definition of Variables 28
Empirical Results 32
Conclusions 33
References 34
Are RandD-Active SMEs in the Emerging Markets Financially Constrained? Self-Evaluation Approach 37
Introduction 37
Literature Review 38
Data and Methodology 39
Results and Discussion 40
Conclusion 42
References 43
Tax Incentives for Innovative Small Business: The Russian Model 45
Introduction 45
Approaches to Providing Tax Incentives to Innovative Small Business 46
Tax Incentives for Small Business in Other Countries 46
Tax Incentives for Small Business in Russia 47
Presumptive Tax Systems 47
Incentives for Residents of Special Economic Zones of Technology and Innovation Type 47
A Presumptive Model for Small Business Taxation Targeted at Stimulating Innovation Activity 48
Assessment of Scale of Business 49
Evaluation of the Socio-economic Impact of Business or an Innovation and Investment Project 49
Conclusion 51
References 52
Relationships Between World Stock Market Indices: Evidence from Economic Networks 53
Introduction 53
Data and Methodology 54
Results and Discussion 57
Conclusion 59
Appendix 60
References 61
The Financial Evaluation of Population Growth in Relation to Development Aid: China Versus India (Two Nation Brands´ Stories) 62
Introduction 63
Financial Evaluation of Population Growth 63
Data and Source 63
Population Growth Financial Impact 64
Population Growth Financial Cost for African Countries in Scope of Agenda 2030 66
Evaluation of the Development Aid Needed for African Countries 67
Conclusion 68
References 69
The Relationship Between Government Expenditure on Education and Economic Growth: The Case of France 70
Introduction 70
Data and Methodology 72
Unit Root Test 73
Johansen Co-Integration Test 73
Estimation of Long-Run Coefficients 74
Causality Test 74
Empirical Results 75
Co-Integration Analysis 75
Estimation of Long-Run Coefficients 76
Causality Test 77
Conclusion 77
References 78
Exchange Rate Exposure and Usage of Foreign Currency Derivatives by Indian Nonfinancial Firms 80
Introduction 80
Literature Review 81
Methodology 83
Sample 83
Measurement of Exchange Rate Exposure 84
Model 85
Results and Discussion 86
Conclusion 88
References 88
Are the Central and Eastern European Countries More Vulnerability to the External Shocks? 90
Introduction 90
Data and Methodology 91
Results and Discussion 93
Conclusion 95
References 96
Micro-level Evidences of Moral Hazard in the European Financial Institutions 97
Introduction 97
Theoretical Framework and Hypotheses 99
Data and Methodology 100
Results 102
Conclusion 103
Appendix 1 104
References 105
Changes in Mortgage LTV Schemes: Are We Facing New Price Bubble on Residential Market? 107
Introduction 107
Data and Methodology 108
Development of New Apartment Price Drivers 109
Bubbles in New Apartment Pricing 111
LTV Regulation on the Market 112
Conclusion 113
References 114
Liability Risk Management of Central European Banks Under New Regulatory Requirements 115
Introduction 115
Methodology 116
Regulatory Requirements: Overview of NMDs and MDs 116
Non-maturity Deposits 118
Maturity Deposits 118
Differences in Risk Management of NMDs and MDs 119
Empirical Analysis 119
Results and Discussion 120
Conclusion 122
References 123
Tax Efficiency of Czech Insurance Undertakings 125
Introduction 125
Data and Methodology 126
Taxation in Conditions of the Czech Insurance Market 126
Tax Efficiency of Large Insurers 127
Tax Efficiency of Medium and Small Insurers 127
Results of Comparative Analysis 128
Conclusion 129
References 130
Financial Innovations in Equity Issuance: A Prague Stock Exchange Review 131
Introduction 131
Review of Equity Issues of Prague Stock Exchange Issuers 133
Dilution Effect 135
Discussion and Conclusion 135
Appendix 137
References 143
The Reasons Underlying Retail Banking Homogenization in the Second Half of the Nineteenth Century 144
Introduction 144
Three Streams of Retail Banking in the Habsburg Monarchy 145
District Credit Unions for Economic Development 146
Credit Unions of the Raiffeisen Type 147
Citizen Community, Communal, Sole Traders´ and Farmers´ Credit Unions 148
Results 149
Conclusion 150
References 151
Relationship Between the Company Size and the Value: Empirical Evidence 152
Introduction 152
Data and Methodology 153
Results and Discussion 155
Price to Earnings Ratio 155
Price to Book Value Ratio 155
Enterprise Value to EBITDA Ratio 156
Enterprise Value to Sales Ratio 156
Conclusion 157
References 158
Data Set 159
A Note on the Gordon Growth Model with Taxes 160
Introduction 160
Involving Taxes in the Gordon Growth Model 161
Modification of the Gordon Growth Model with Taxes 162
Results and Conclusion 164
References 165
Indirect Valuation and Earnings Stability: Within-Company Use of the Earnings Multiple 167
Introduction 167
Hypothesis Development 168
Data 169
Outlier Treatment 169
Methodology 170
Stability Measure Construction 170
Statistical Analysis 171
Valuation Analysis 171
Results 172
Conclusion 173
Appendix 174
References 178
Measurement of Profit Losses from Brand Damage: The Case of an Unlisted Company 179
Introduction 179
Data and Methodology 181
Results and Discussion 182
Valuation of Equity of ABC Holding by Income-Based Methods 182
Determination of the XZY Brand Value Using Premium Method for the Case of the Ordinary Course of Things 183
Valuation of the XZY Brand Value Using Premium Method for the Case of Loss Event 184
Conclusion 186
References 186
Czech Industrial Real Estate Market: The Quest for Realistic Model 187
Introduction 187
Literature Review 188
The Space Market 188
The Capital Market and the Development Market 190
Research Design 191
Results and Discussion 193
Conclusion 196
Appendix 197
References 199
Financial Performance of Czech Subsidiaries of the EU-Listed Companies 200
Introduction 200
Data and Methodology 201
Results and Discussion 202
Conclusion 206
Appendix 207
References 209
Cash Flow Ratios´ and Liquidity Ratios´ Analysis of Selected Listed Companies in Sri Lanka 210
Introduction 211
Data and Methodology 212
Empirical Results and Discussion 214
Descriptive Statistics 214
Correlation Analysis 217
Test of Hypotheses 218
Conclusion 221
References 221
Searching for Today´s Purpose of Remunerating Employee Inventions Through Grounded Theory 222
Introduction 222
Employee Inventions 223
Employee Inventions in the Czech and Slovak Republic 223
Review of Literature 224
Data and Methodology 225
Results and Discussion 227
Employees´ Interests 228
Incentiveness 228
Satisfaction 229
Employers´ Interests 229
Countries´ Interests 230
Conclusions 230
References 231
A Fiscal Demography: Toward Demographic Approach to Public Finance 233
Introduction 233
The Essence of Fiscal Demography 234
The Scope of Fiscal Demography 236
Conclusion 238
References 239
Spatial Concentration of Local Government Expenditure in the Czech Republic 240
Introduction 240
Data and Methodology 241
Results and Discussion 243
Conclusion 245
Appendix 246
References 247
Economic Voting in the 2006 Czech General Election 248
Introduction 248
Theoretical Background 249
Data and Methodology 250
Results 253
Conclusion 257
References 258
Social Expenditures and Poverty in Central and Eastern European Union Countries: A Causality Analysis 259
Introduction 259
Literature Review 260
Data and Methodology 261
Data 261
Econometric Methodology 262
Empirical Analysis 262
Cross-Sectional Dependency and Homogeneity Tests 262
Panel Unit Root Test 263
Causality Test 263
Conclusion 264
References 264
Are Health-Care Services Luxury Goods? 266
Introduction 267
Data and Methodology 268
Results and Discussion 269
Conclusion 270
References 271
The Relationship between Corruption and Tax Burden: The Moderator Effect of Strength of Auditing and Reporting Standards 273
Introduction 273
Data and Methodology 275
Dependent Variable 275
Independent Variable 275
Moderator Variable 276
Results and Discussion 277
Conclusion 278
References 279
Different Approaches in Business Information Disclosures in European Annual Reports 280
Introduction 280
Regulatory Frameworks and Methodology 281
Results and Discussion 282
Czech Experience 283
British Experience 284
Results from the Survey 285
Conclusion 286
References 287
What Are the Origins of New Leasing Conceptual Models and How These Models Are Coming True in IFRS 16? 289
Introduction 289
Lease Conceptual Models 290
Existing Approach by IAS 17 291
The G4+1 Proposal 292
New Approach by IFRS 16 293
Conclusion 295
References 297
Company in a Global Environment and Intangible Assets 298
Introduction 298
Company in the Process of Social and Economic Changes 299
Intangible Assets in Accounting 301
Conclusion 304
References 305
The Concept of Measurement and Reporting of Human Capital 307
Introduction 307
Alternative Model of Human Capital Measurement 309
An Outline of Human Capital Reporting 311
Conclusion 312
References 313
Exploratory Analysis of Voluntary Reporting on Human Resources in the Czech Republic 315
Introduction 315
Data and Methodology 317
Data 317
Methodology 317
Results and Discussion 318
Conclusion 320
References 321
The Pricing of Audit Fees: Empirical Evidence from Czech Republic 322
Introduction 322
Data and Methodology 324
Data 324
Methodology 325
Results and Discussion 326
Conclusion 327
Appendix 328
References 329
The Going Concern Threats and Deferred Tax Assets Recognition: The Gap Between Theory and Practice 330
Introduction 330
Data and Methodology 331
Results and Discussion 332
Conclusion 334
References 335
The IFRS Assessment by Publicly Traded Companies 336
Introduction 336
Results and Discussion 339
Conclusion 341
References 341
IFRS 5 and Its Reporting in the Czech Republic 342
Introduction 342
Literature Review 343
IFRS 5 344
Assets Held for Sale and Disposal Groups 344
Discontinued Operations 345
Data and Methodology 346
Results and Discussion 347
Conclusion 349
References 350
Explaining Risk Premium on Bank Bonds by Financial Ratios 351
Introduction 351
Data and Methodology 353
Results and Discussion 353
Conclusion 355
Appendix 356
References 357
The Use of Tax and Nontax Provisions and Allowances 359
Introduction 359
Literature Review 360
Allowances in Czech Accounting 360
Provisions in Czech Accounting 361
Data and Methodology 362
Results and Discussion 363
The Effect of the Entity Size 363
Statistical Evaluation of the Creation of Provisions and AE 363
The Creation of Other Nontax Provisions 364
Conclusion 365
References 366
Revenue Recognition in the Public Hospitals 368
Introduction 368
Accrual Basis in Accounting of Public Hospital 369
Revenue Recognition in the Public Hospital 370
Comparison of National Accounting Legislation Approach and International Standards Approach 372
Examination of Financial Statements 373
Conclusion 374
Appendix: List of Examined Healthcare-Providing Entities 375
References 376
A Literature Review of Financial Performance Measures and Value Relevance 378
Introduction 378
Methodology 379
Literature Review 380
Corporate Performance Measures 380
Accounting Information and Its Value Relevance 381
Discussion 382
Conclusion 384
References 385
The Relation Between Using Business Intelligence Solutions and Corporate Performance 387
Introduction 387
Data and Methodology 388
Results and Discussion 388
Conclusion 392
References 393
Economic Security Indicators Forecasting for Management Decisions Based on Integrated Reporting Data 394
Introduction 395
Data and Methodology 395
Simulation Modeling 396
Expert and Fuzzy Forecasting Methods 397
Results and Discussion 398
Conclusion 399
References 400
Multidimensional Process of Financial Controlling Implementation 401
Introduction 401
Multidimensional Character of Financial Controlling Implementation 402
People Responsible for Implementing Financial Controlling System 404
Timetable 406
Conclusion 408
References 408
Strategic and Operational Perspective of the Principles of Identification of the Scopes of Responsibility for Costs 410
Introduction 410
Types of Responsibility for Costs 411
Cost Centres and Cost Responsibility Centres 412
The Tasks Performed While Exercising Responsibility for Costs 414
The Costs Dependent on and Independent of the Manager of a Cost Centre and a Suggestion on How to Classify Them 418
Conclusions 419
References 420
The Use of Management Accounting Information in Non-financial Reporting and Interaction with Stakeholders of Public Companies 421
Introduction 422
Data and Methodology 422
Problems of Sustainability Report 423
Results and Discussion 423
Conclusion 426
References 427
The First and the Second Generation of Statistical Methods in Management Accounting Research 428
Introduction 428
Data and Methodology 429
Measurement of Constructs 430
The First-Generation Statistical Procedures Applied 431
The Second-Generation Statistical Procedures Applied 432
Results and Discussion 433
Factor and Regression Analyses (The First-Generation Methods) 433
PLS-SEM Findings (The Second-Generation Method) 433
Discussion 434
Conclusion 434
References 435
Estimation of Housing Demand with Adaptive Neuro-Fuzzy Inference Systems (ANFIS) 436
Introduction 436
Literature Review 437
Data and Methodology 438
Results 439
Conclusion 440
References 442
Corporate Tax as an Instrument of Tax Competition Among the EU Countries 443
Introduction 443
Corporate Tax as an Element of Tax Competition in the EU Member States 444
The Impact of Corporate Income Tax on Foreign Direct Investment 448
Conclusion 454
References 455
Index 456

Produkt-Details

• Erscheint lt. Verlag: 29.12.2017
• Reihe/Serie: Springer Proceedings in Business and Economics
• Reihe/Serie: Springer Proceedings in Business and Economics
• Zusatzinfo: IX, 484 p. 35 illus., 15 illus. in color.
• Verlagsort: Cham
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre
• Schlagworte: 18th Annual Conference on Finance and Accounting • business evaluation • Corporate Finance • Globalization and Accounting • Globalization and International Finance • Management Accounting • Monetary Economics • Monetary Theory • Public Finance • Taxation
• ISBN-10: 3-319-68762-X / 331968762X
• ISBN-13: 978-3-319-68762-9 / 9783319687629