Czech Financial and Accounting Journal, 2023 (vol. 2023), issue 1
Articles
Use of SASB standards for ESG reporting in Europe: Empirical analysis
Richard Stiebal
Český finanční a účetní časopis 2023(1):5-23 | DOI: 10.18267/j.cfuc.579 
This article focuses on non-financial reporting under SASB standards in Europe andis primarily motivated by the development of new ESG reporting frameworks,namely the European Sustainability Reporting Standards under Directive (EU)2022/2464 and Sustainability Disclosure Standards within IFRS. The articleexamines a sample of 110 European companies from various industries in terms ofthe degree of compliance with the requirements of the SASB standards. Usinga document analysis of non-financial reports and a set of double-level metrics, thescope and relevance of published non-financial information is assessed. It is found that European companies largely...
Teaching accounting at a secondary school:Effectiveness of studying based on electronicresources and teacher personality
Pavel Hanuš
Český finanční a účetní časopis 2023(1):25-33 | DOI: 10.18267/j.cfuc.580
This paper investigates the effectiveness of studying accounting from electronicresources among secondary school students. The most preferred electronic resourceis explanatory videos including diagrams, texts and images. Also, presentation filescontaining the teacher's explanation are highly preferred. The aim of the paper is toevaluate whether the success of studies can be related to the use of electronic studyresources. A carefully prepared didactic test presented to the experimental andcontrol study group showed how the pupils react to test questions of different types.The results of this didactic test were used to statistically establish whether...
Discussion
30 years of exchange traded funds: The boom and the risks of market and regulatory failure
Petr Musílek
Český finanční a účetní časopis 2023(1):35-48 | DOI: 10.18267/j.cfuc.581
The discussion paper focuses on the prerequisites for the creation, development and consequences of exchange traded funds. The article first analyzes the defining characteristics of the effective behavior of stock markets as an elementary prerequisite for the investment demand for passive portfolio management. Subsequently, attention is paid to the nature of exchange traded funds and their rapid development in recent decades. Individual types of exchange traded funds are also analyzed. In the final part of the paper, some risks of the rapid development of this financial innovation, which significantly changes the focus of investment management, both...
Current pressure for paradigm shifts in insurance science
Petra Tisová, Jaroslav Daňhel
Český finanční a účetní časopis 2023(1):49-54 | DOI: 10.18267/j.cfuc.582
Catastrophic risks have in recent years brought with them big question marks overwhat attitude insurers should take towards them. This is particularly a problem insituations of recurrent hurricane-type catastrophes on the east coast of the Caribbeanand the United States, where it is already perfectly legitimate to address the fulfilmentof the contingency condition, which is an essential condition for the recognition ofan insurance claim. The solution, beyond the limits and exclusions imposed onclaims, appears to be to involve markets outside the insurance industry and transferrisk, for example, through catastrophe.
Dreadful applications of Taffler’s model in Czechia
Eva Dufková, Petr Marek, Vojtěch Menzl
Český finanční a účetní časopis 2023(1):55-65 | DOI: 10.18267/j.cfuc.583
Taffler’s model belongs to the most well-known models for predicting financial distress based on multidimensional discriminant analysis. However, this model has entered the Czech literature in a significantly modified but, above all, unusable form. The article examines both the differences between the original model from 1977 and the models presented as Taffler’s in Czech literature, and it also investigates the occurrence of various modifications of this model in textbooks, scientific articles,and qualifications theses.
Informations
Harry Max Markowitz (1927–2023) – founder of modern portfolio theory
Petr Marek, Vojtěch Menzl, Eva Dufková
Český finanční a účetní časopis 2023(1):67-73 | DOI: 10.18267/j.cfuc.585
The article on the occasion of the death of H. M. Markowitz, laureate of the Nobel Memorial Prize in Economics, presents his brief biography associated with the development of modern portfolio theory, sparse matrices and the SIMSCRIPTsimulation programming language.