Object's details: Subsidies in the financial statements of companies listed on the Warsaw Stock Exchange

Provider:Akademicka Platforma Czasopism

Description

Title:
Subsidies in the financial statements of companies listed on the Warsaw Stock Exchange
Creator:
Zawadzki, Aleksander
Description:
Motivation: In connection with the growing popularity of using non-returnable public aid, financed both from national and European Union funds among the enterprises, it is worth looking at the quality of financial reporting in this respect. The author’s earlier studies showed that companies listed on the Warsaw Stock Exchange (WSE) on the NewConnect market do not fully disclose the impact of the subsidy on their financial standing and results.Aim: The aim of the paper is an attempt to diagnose the quality of financial statements of public companies listed on the WSE main market in terms of using subsidies as well as confirming the theses included in the paper. The theses refer to compliance with the reporting obligations and the lack of dependence of the disclosure number on the significance of the subsidy amounts in the financial statement.Results: Both explanatory notes and the management board’s report on operations do not include all required disclosures. This is demonstrated by the average as well as the median of the number of disclosures below half of their maximum number. The number of disclosures is not related to the increased significance of the subsidy amounts in the financial statements, which has been confirmed by comparing the entire population of companies under study to a group of companies with the share of subsidies determined as significant. Analysis results for individual company reports as well as the analysis at sectoral level speak in favour of this finding.
Object availability:
free access
Rights:
Prawa autorskie (c) 2020 Ekonomia i Prawo. Economics and Law
Date:
2020.09.30
Type:
info:eu-repo/semantics/article;
info:eu-repo/semantics/publishedVersion
Language:
English
Source:
Ekonomia i Prawo. Economics and Law; Vol. 19 No. 3 (2020); 585-599;
Ekonomia i Prawo. Economics and Law; Tom 19 Nr 3 (2020); 585-599;
2392-1625;
1898-2255
Format:
application/pdf
Publisher:
Uniwersytet Mikołaja Kopernika w Toruniu
Relation: https://apcz.umk.pl/EiP/article/view/EiP.2020.039/26699
Subject:
subsidies;
financial statement;
IAS 20;
M41;
K22;
H25
Identifier: https://apcz.umk.pl/EiP/article/view/EiP.2020.039
Data provider:
Akademicka Platforma Czasopism

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