European Financial and Accounting Journal, 2021 (vol. 16), issue 1
Articles
Relevance versus Reliability Trade-off in Financial Reporting among Companies Listed at Visegrad Group Stock Exchanges
Libor Závodný
European Financial and Accounting Journal 2021, 16(1):7-24 | DOI: 10.18267/j.efaj.246 
The objective of this study is to examine the relevance and reliability aspects of accounting with respect to earnings’ usefulness which is measured as the association between earnings and share returns. Motivated by the lack of this research in emerging markets, this paper is focused on the companies listed on the stock exchanges in the Visegrad Group (V4) countries. Multiple regression analyses are used to establish links between accounting attributes on the sample of 64 listed firms for the time period between 2005 and 2017. This study shows that relevance is a more dominant accounting attribute than reliability. Companies listed in the V4...
Knowledge of Basic Accounting Issues of SBA Students and their View on the Qualification Level of Professional Accountants
Markéta Šeligová, Ivana Koštuříková
European Financial and Accounting Journal 2021, 16(1):25-44 | DOI: 10.18267/j.efaj.247
The aim of the article is to evaluate the level of basic knowledge of accounting issues of students of the School of Business Administration in Karviná (SBA) in the Czech Republic and verify the existence of dependence of their knowledge on gender, secondary education, aspects of their university studies, and last but not least, on their work experience. Furthermore, the research aims to find out how these students perceive the importance of the qualification level of professional accountants. In order to achieve the objective of the article, a questionnaire survey was used. On the basis of the acquired nominal data, the non-parametric Kruskal-Wallis...
The Impact of FX Exposure on the Firm’s Stock Market Return
Mariia Bondarenko, Karel Brůna
European Financial and Accounting Journal 2021, 16(1):45-70 | DOI: 10.18267/j.efaj.248
It is generally acknowledged that one of the risks faced by any company is FX risk, especially when the business operates internationally. For individual companies, exposure to FX risk results in different financial implications, stressing such parameters as the industry affiliation and the company’s size with respect to the level of FX risk exposure. In this paper we analyse how FX exposure of companies of different size and operating in industrial and service sectors affects their stock market returns. Using the panel regression with macroeconomic and companies’ specific factors for 208 European companies analysed over the period 2012–2018,...
The Use of Borrower-based Measures within Macroprudential Policy: Evidence from the European Economic Area
Lukáš Fiala, Petr Teplý
European Financial and Accounting Journal 2021, 16(1):71-91 | DOI: 10.18267/j.efaj.249
The article deals with borrower-based instruments within macroprudential policy as measures aimed at reducing systemic risk regarding household debt. Our contribution is three-fold; Firstly, we show that more than 50% of countries in the European Economic Area have incorporated the borrower-based measures into their national legal framework. Secondly, we provide evidence that in countries exceeding the average level of household debt growth, more active caps are used. Thirdly, our results confirm the use of more than one active cap in countries where the house price increase was higher than average house price growth. We also highlight the reaction...