<?xml version="1.0" encoding="UTF-8"?>
<feed xmlns="http://www.w3.org/2005/Atom" xmlns:dc="http://purl.org/dc/elements/1.1/">
  <title>EconStor Community:</title>
  <link rel="alternate" href="https://hdl.handle.net/10419/109804" />
  <subtitle />
  <id>https://hdl.handle.net/10419/109804</id>
  <updated>2026-04-28T11:20:59Z</updated>
  <dc:date>2026-04-28T11:20:59Z</dc:date>
  <entry>
    <title>Non-IFRS earnings measures in annual reports of European companies</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/319724" />
    <author>
      <name>Zahradnícek, Tomáš</name>
    </author>
    <id>https://hdl.handle.net/10419/319724</id>
    <updated>2025-06-25T06:14:11Z</updated>
    <published>2024-01-01T00:00:00Z</published>
    <summary type="text">Title: Non-IFRS earnings measures in annual reports of European companies
Authors: Zahradnícek, Tomáš
Abstract: The article examines disclosure of non-IFRS earnings measures (also called alternative performance measures). The data sample consists of 600 companies that constitute index EUROSTOXX 600 for the years 2021 and 2022. We prove that non-IFRS earnings measures hold a very prominent role in financial reporting. We provide evidence that the reporting of solely IFRS earnings measures in annual reporting is very rare, with only 3% of companies use only IFRS measures. On the contrary, a substantial number of companies (74%) include adjusted non-IFRS measures into unaudited parts of annual reports. Moreover, 25% of companies put adjusted non-IFRS measures into their audited income statements. Our findings enlighten how widespread non-IFRS measures are among European companies and how the European institutions approach this practice of financial reporting.</summary>
    <dc:date>2024-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Numbers beyond the pitch: A conceptual review concerning the impact of data analysis on football club valuation</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/319723" />
    <author>
      <name>Oprisor, Tudor</name>
    </author>
    <author>
      <name>Cordos, George-Silviu</name>
    </author>
    <id>https://hdl.handle.net/10419/319723</id>
    <updated>2025-06-25T06:14:21Z</updated>
    <published>2024-01-01T00:00:00Z</published>
    <summary type="text">Title: Numbers beyond the pitch: A conceptual review concerning the impact of data analysis on football club valuation
Authors: Oprisor, Tudor; Cordos, George-Silviu
Abstract: This article investigates how data analytics is revolutionizing how football clubs are valued. Previously, valuations were based on biased opinions and past financial results, which often resulted in errors and missed chances. Data analytics offers a more impartial method that considers elements including player worth, brand power, fan involvement, and online presence. The article delves into specific methodologies employed in data-driven valuations, highlighting their advantages over traditional methods. The article - structured as a literature review - showcases how various stakeholders benefit from this approach. Club owners gain a more reliable way to assess assets, while players and agents leverage data for contract negotiations. The article uses existing studies to delineate elements of data analysis which are prone to be included in valuation models. The article highlights the drawbacks of data-driven valuations, such as data reliability and the difficulty in quantifying intangible elements. It advocates for a hybrid strategy that balances data analysis with the judgment of human experts. Additionally, the article outlines the potential of data analytics for valuing intangible assets and making analytics more common in football, paving the way for a sports industry that is more competitive and driven by data.</summary>
    <dc:date>2024-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>The impact of hedge accounting on a firm market value</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/315554" />
    <author>
      <name>Čiperová, Lenka</name>
    </author>
    <id>https://hdl.handle.net/10419/315554</id>
    <updated>2025-04-25T06:22:40Z</updated>
    <published>2024-01-01T00:00:00Z</published>
    <summary type="text">Title: The impact of hedge accounting on a firm market value
Authors: Čiperová, Lenka
Abstract: In 2018, the International Accounting Standards Board (IASB) introduced International Financial Reporting Standard 9 (IFRS 9), which sets out principles for hedge accounting and replaces International Accounting Standard 39 (IAS 39). IFRS 9 aims to provide better information about companies' risk management policies by simplifying reporting requirements and improving risk disclosures compared to IAS 39. The objective of hedge accounting is to facilitate investors' understanding of companies' risk management strategies and provide information on the effectiveness of hedging. In this study, we attempt to determine how hedge accounting fulfils the IASB's objective and whether better risk management information translates into value attributed by investors. In the empirical part of this study, a firm valuation framework is used to analyse the impact of hedge accounting on the market value of a sample of Polish companies listed on the Warsaw Stock Exchange. The results show the positive effect of using hedge accounting, suggesting that information about risk management strategies can positively affect investors' valuation of the firm. The results also show that the simplified reporting requirements under IFRS 9 motivated companies that used hedge accounting to switch to the new accounting standard but, contrary to expectations, did not motivate new companies to adopt hedge accounting.</summary>
    <dc:date>2024-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Cointegration analysis of US M2 and gold price over the last half century</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/315553" />
    <author>
      <name>Synek, Richard</name>
    </author>
    <id>https://hdl.handle.net/10419/315553</id>
    <updated>2025-04-25T06:23:18Z</updated>
    <published>2024-01-01T00:00:00Z</published>
    <summary type="text">Title: Cointegration analysis of US M2 and gold price over the last half century
Authors: Synek, Richard
Abstract: In this article I have analysed the long-term relationship between US M2 money supply and the price of gold per troy ounce using Engle-Granger cointegration. The analysis shows the existence of long-term price dependency of gold in relation to US M2 money supply. M2 was used in two variants, seasonally adjusted and not seasonally adjusted. No relevant difference was observed between them. A period spanning 53 years, from 1970 to 2023, was analysed. An EC model using monthly observations indicates very weak correlation between the change of M2 and the subsequent change of the gold price, so semiannual observations were used instead which proved fully conclusive. This, together with results from the long-term model, confirms long price cycles and fluctuation around its equilibrium price lasting for years, which allows the use of gold as a hedge against increasing M2. This article may prove beneficial in filling the gap as it confirms gold price to be dependent on US M2 on longer time span analysed than previous studies and is fully able to explain gold price analysing dependency of two variables only.</summary>
    <dc:date>2024-01-01T00:00:00Z</dc:date>
  </entry>
</feed>

