This paper is motivated by the links that continue to be forged between security pricing and accounting, building on recent findings that firms tend to be asymmetrically conservative in the timeliness of earnings recognition. The evidence is that firms in the European Union tend to recognise...

This paper focuses on development of rules and practices of accounting and on the application of IFRS in the Czech Republic. The article deals with historical background of the Czech accounting and subsequently with particular features of implementation of IFRS after 1989, when the economic...

Innovation is without doubts one of the key production factors. The aim of this paper is to analyze the recent development in the field of social innovation and, more importantly the practical impact of this concept to society. As we may observe, currently, the cheap and highly developed...

Successful and mature corporations can alter their financial structure and optimize their debt asset ratio according to their needs. This is not, however, so easy for companies in the start-up phase, when entrepreneurs have to rely almost ultimately on equity funding. This paper concentrates on...

The principal goal of this paper is to review recent studies on small and medium sized companies in order to concentrate on the main critical issues of SMEs financial management. There are three core elements of financial management: (1) the question of liquidity management and cash flow...

In this paper, we explore two of the most relevant theories that explain financial policy in small and medium enterprises (SMEs): pecking order theory and trade-off theory. The theoretical section provides an overview of contemporary theories of capital structure. According to the pecking order...

The principal goal of this paper is to review recent studies on small and medium sized companies in order to concentrate on the main critical issues of SMEs financial management. There are three core elements of financial management: (1) the question of liquidity management and cash flow...

Generally, stock prices reflect future expectations of earnings, whereas accounting data reflect past performance. This paper attempts to discover the relationship between accounting data and market price returns of the companies listed on the Prague Stock Exchange (PSE). The Prague Stock...

This paper briefly reviews one recent development in real options modeling. This development aims to extend traditional real options models.We show that previous models are incomplete in that only the optimal action threshold is derived. The new literature provides further information on optimal...