Nonfinancial Reporting: Theoretical and Empirical Evidence

The paper is focused on the evaluation of the impacts of the implementation of Directive 2014/95 / EU in terms of the introduction of non-financial information into Czech accounting legislation, specifically the Accounting Act with effect from 2017. The subject of this research are financial institutions, specifically commercial banks based in the Czech Republic. Banks such as public interest entities must operate not only monitor and manage credit risk, which results from their active subject matter, but along with it the risk of longterm sustainability in a comprehensive and consistent. This requirement is fulfilled by the regular reporting of non-financial information by banks. Transparent disclosure of this information should help to eliminate banking risks and creating greater credibility, which is crucial for banks. Trendy sustainability should be fully consistent with the principles of business and commercial activities. Purpose: The aim of the paper is to evaluate the benefits of the implementation of the Directive in the Accounting Act on the quantity and quality of reported non-financial information by banks operating in the Czech Republic. The paper evaluates and compares approaches to this fact not only for banks that have this obligation, but also for banks that do not have this obligation. There was also a comparison of the reporting rate of nonfinancial information by banks within the Visegrad countries. Methodology: Based on Directive 2014/95 / EU and the EUKI 2020 database, key indicators in the area of non-financial reporting were identified, for which the level of their reporting by the monitored banks was subsequently monitored. It has established five basic areas, ie. The environment, social issues, employees, respect for human rights and the fight against corruption and bribery. Within individual areas, partial indicators were defined and subsequently monitored. The starting point was the content analysis of banks' annual reports. All banks in the Czech Republic (a total of 48 banks) were analyzed, which were then divided into three basic groupsThese are banks with an obligation to disclose nonfinancial information, banks that are defined as large entities and a group of other banks according to the Accounting Act. After the identification of defined areas and the content analysis of the annual reports, the quantity and quality of non-financial reporting for the monitored groups of banks were evaluated. These results were compared with data obtained from the EUKI database for banks in other V4 countries. Findings: Significant differences were found between the reporting of non-financial information by banks with the obligation to report, when a growing trend can be noted in the quality and quantity of reported non-financial information. This cannot be confirmed for banks that do not have this obligation. It should be added that some smaller banks, despite their importance, still do not report non-financial information. It was also found that when reporting non-financial information by banks,...

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Pandemic crisis management

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2020

Holist. approach environ.

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The first recorded COVID-19 case emerged in China and, within a few months, it has spread to 210 countries globally, thrusting people into danger, uncertainty, fear, and of course physical and social isolation. The impacts of this pandemic are significant for every aspect of our lives. Crises include risk and chances at the same time. As Shakespeare said, “There is nothing either good or bad, but thinking makes it so“. This paper focuses on threats and opportunities of the pandemic crisis for humans and planet Earth. Crisis is defined as an unplanned and unwanted process of limited duration and impact, which endangers primary goals, and produces ambivalent outcome. Crisis management encompasses three phases: avoiding the crisis, identifying its symptoms when they occur and finding ways out of the crisis. There are several research questions related to that. First, could the COVID-19 crisis be avoided? Or at least could its onset be recognized early? Second, how can the pandemic crisis be measured in terms of its intensity and depth? Third, which ways lead us out of the crisis? And fourth, which lessons have to be learned? Exploring the novel literature and research findings provides new insights into the pandemic crisis and the crisis management process, which is the aim of the paper. With its results and major conclusions this paper provides a holistic perspective to the pandemic crisis and crisis management.

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Nonfinancial Reporting: Theoretical and Empirical Evidence

Cited by 6 publications

References 29 publications

Quantitative and Qualitative Aspects of Non-financial Reporting in Hotel Enterprises in Croatia

Quantitative and Qualitative Aspects of Non-financial Reporting in Hotel Enterprises in Croatia

Social Responsibility for Banking Institutions

Pandemic crisis management

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