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Quality of Information Disclosed in Annual Reports of Listed Companies in the Czech Republic

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  • David Čevela

Abstract

This article examines the periodic information duty of the companies listed on Prague Stock Exchange in relation to the information disclosed within annual reports. The most significant regulatory requirements in force as at December 31, 2013 are identified and divided into several sub-areas - requirements on the financial statements, Report on relations and the Report of the Board of Directors, notes and complementary information and financial position and financial results. The identified requirements are then confronted with actual information disclosed within annual reports of the companies analysed to assess the compliance with the applicable law and IFRS. The main objective of the research is to evaluate the degree to which the listed entities comply with the reporting requirements set by the current legal framework by means of a content analysis using a predefined scoring system. The concluding section summarizes the main findings and suggests further possible research in this area.

Suggested Citation

  • David Čevela, 2016. "Quality of Information Disclosed in Annual Reports of Listed Companies in the Czech Republic," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2016(2), pages 21-36.
    • Handle: RePEc:prg:jnlefa:v:2016:y:2016:i:2:id:155:p:21-36
    DOI: 10.18267/j.efaj.155
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    References listed on IDEAS

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    1. Jana Ištvánfyová & Ladislav Mejzlík & Jiří Pelák, 2010. "Progression of Financial Reporting in Czech Republic and its Regulation," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2010(1), pages 64-77.
    2. John Goodwin & Kamran Ahmed & Richard Heaney, 2009. "Corporate Governance and the Prediction of the Impact of AIFRS Adoption," Abacus, Accounting Foundation, University of Sydney, vol. 45(1), pages 124-145, March.
    3. Joanna Dyczkowska, 2014. "Assessment of Quality of Internet Financial Disclosures Using a Scoring System. A Case of Polish Stock Issuers," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 13(1), pages 50-81, March.
    4. Ana Isabel Morais & José Dias Curto, 2009. "Mandatory Adoption of IASB Standards: Value Relevance and Country-Specific Factors," Australian Accounting Review, CPA Australia, vol. 19(2), pages 128-143, June.
    5. Arnt Verriest & Ann Gaeremynck & Daniel B. Thornton, 2013. "The Impact of Corporate Governance on IFRS Adoption Choices," European Accounting Review, Taylor & Francis Journals, vol. 22(1), pages 39-77, May.
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    Cited by:

    1. Luboš Hlinovský, 2019. "Transparency and Application of IAS 20 by the European Air Navigation Services Providers [Transparentnost a aplikace IAS 20 v podmínkách evropských poskytovatelů letových provozních služeb]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2019(1), pages 51-63.
    2. Jan Dvořák, 2017. "How Do Czech Companies Report Fair Value Measurement Under IFRS 13?," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2017(3), pages 117-127.
    3. Taisia Nistorenco, 2019. "Compliance with Disclosure Requirements under IFRS 3 of Companies Trading at Prague Stock Exchange," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2019(2), pages 5-26.
    4. Michal Novák, 2018. "The Quality of Disclosure under IAS 38 in Financial Statements of Entities Listed on PSE," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2018(2), pages 31-44.

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    More about this item

    Keywords

    Disclosure quality; Periodic disclosure; Prague Stock Exchange;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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