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Annual report inquiry letters, disclosure of key audit matters and audit fees: Evidence from Chinese A-share listed companies
No full textResearch background: Issuing an annual report inquiry letter is a powerful means by which securities exchanges regulate the information of listed companies, which can convey information, reveal risks, and sustain the orderly development of capital markets. However, research on the economic consequences is limited.
Purpose of the article: This study analyses the relationships and mechanisms between annual report inquiry letters, key audit matters (KAMs), and audit fees.
Methods: We collected data from Chinese A-share companies listed on the Shanghai and Shenzhen Stock Exchanges between 2017 and 2022, totalling 9,903 observations. We used Stata to conduct mediation effects and heterogeneity tests on the data. We also conducted further research on the relationship between audit fees and the purchase of audit opinions.
Findings & value added: The results indicate that (1) companies that receive annual report inquiry letters have higher audit fees. Furthermore, (2) companies that receive annual report inquiry letters are more likely to increase the number of disclosed KAMs, leading to higher audit fees. Finally, (3) the above relationship is more significant amongst companies audited by non-Big-Four accounting firms than amongst those audited by Big-Four accounting firms. Further, the increase in audit fees for the sample companies is not due to the purchase of audit opinions and is combined with robustness tests, further validating the conclusions of this study. These findings contribute to research on the economic impact of implementing the annual report inquiry system and new auditing standards, providing empirical evidence for the effectiveness of government oversight of capital markets
Labour mobility and international trade
No full textMotivation: The academic debate on whether the relationship between factor mobility and international trade is one of complementarity or substitution is inconclusive. In general, the relationship between the two can vary depending on the specific research methodology and the object of study. Moreover, there are fewer empirical analyses with China and the European Union as subjects, so studying the relationship between labour mobility and trade in the case of China and Europe is worthwhile.
Aim: The purpose of this paper is to determine, through empirical analysis, the relationship between labour mobility in the form of dispatched labour and bilateral trade between China and the European Union in the period of 2005-2021.
Materials and methods: This paper utilises quantitative analysis to investigate the relationship between labour movements and trade (imports and exports) based on data from 2005 to 2021, primarily through co-integration analysis and Granger causality testing.
Results: The study found that there is a substitution relationship between the number of dispatched labour from China and the trade in goods between China and the European Union in the research period. Additionally, Granger causality tests show that China\u27s dispatched labour to the EU is the Granger cause of China-EU export trade, and vice versa. However, China\u27s dispatched labour to the EU is not a Granger cause of China-EU import trade
Intellectual capital and innovativeness of enterprises in Poland in comparison with the European Union countries
No full textThe development of enterprises mostly depends on their innovation. Intellectual capital is one of the factors in building the innovative potential of enterprises. The aim of the article is to analyze and evaluate the impact of intellectual capital on the innovativeness of enterprises in Poland compared to the European Union. The article utilized a critical analysis of the literature on the subject, while the empirical section employed statistical analysis, which included a characterization of the sample\u27s selected features, analysis of a series of Pearson correlations examining the linear interdependence of features, and an examination of the obtained results. Data were obtained from the European Statistical Office for the years 2012-2021. The gathered data were processed using descriptive statistics – mean values, changes in dynamics, and Pearson correlation coefficient
Resilience of small and medium-sized enterprises in the German-Polish border region under changing economic conditions
No full textSME resilience, interpreted as the resistant, flexibility and strategic revitalisation capacity of an organisation, takes on particular importance under conditions of extraordinary threats (e.g. COVID 19 pandemic, war in Ukraine). The important role of SMEs in the economies of many countries makes the resilience of companies in this sector, in times of crisis, crucial for the private sector, national economies and the global economy. The aim of this research is to identify the resilience factors of SMEs in changing economic conditions. The research hypothesis is formulated as follows: the resilience factors of SMEs are time-varying and require constant monitoring to maintain enterprise resilience. The verification of the hypothesis and the realisation of the objective will be carried out through theoretical and empirical studies of SMEs in Poland (West Pomeranian Voivodeship) and Germany (Mecklenburg-Vorpommern and Brandenburg). The analysis of the resilience of SMEs in economically and socially highly interconnected areas located in different countries is
The role of consumer price expectations in shaping inflation
No full textThe purpose of the study is to assess the role of consumer price expectations in shaping inflation, taking into account changes in the economic environment. The analysis will be carried out on the example of Poland for a period of relatively good economic prosperity and periods of its collapse due to the occurrence of the 2007+ financial crisis and the COVID-19 pandemic and the war in Ukraine. The adopted objective and the related main areas of analysis determined the layout and empirical nature of the article, which consists of three parts and a conclusion. The first reviews the literature on the impact of price expectations on the economy. Then, the subject and temporal scope of the study conducted are presented, and the research method used is discussed. The results of the empirical analysis of the role of price expectations in driving inflation on the example of Poland are included in the third part of the article. The conclusion of the paper formulates the most important conclusions resulting from the analysis. The obtained results of the conducted research are also discussed in the context of the challenges of developing artificial intelligence
Non-economic determinants of consumer purchasing behavior
No full textThe aim of the article is to examine the impact of non-economic factors on consumer purchasing decisions depending on their place of residence. The article discusses non-economic factors influencing consumer purchasing decisions. To verify the research hypothesis regarding the relationship between place of residence and consumer buying behavior, the Mann-Whitney U test was used. The results obtained from the study conducted on a group of 250 consumers residing in the Mazowieckie Voivodeship do not unequivocally confirm that the place of residence influences consumer purchasing decisions
Distribution of the tax burden of a capital enterprise
No full textThe article deals with the phenomenon of shifting income tax burdening the profits of capital enterprises. The tax system tends to discriminate fiscally against the owners of such enterprises, as it means paying tax on the profit made, and then from the profit made after dividends are paid also tax on dividends. This results in lower efficiency of capital allocation in the economy, and causes changes in the relationship between the cost of capital and labor and their use in production processes. As long as the factors of production can substitute for each other, this or even another tax can be borne by both factors to varying degrees depending on the specific characteristics of the market
Contemporary perspective on intangible benefits of IT projects in organization
No full textIntangible benefits play a key role not only in assessing the value of projects, but also in shaping the strategic function of the organization. In particular, new intangible benefits such as cybersecurity are becoming increasingly important in today\u27s digital world. The article analyses the significance of intangible benefits as an important factor in assessing the value of implemented projects. A literature study is provided showing what intangible benefits have been identified to date. These benefits were then compared with intangible benefits in projects implemented in a large organization from the energy industry (based on a sample of nearly 100 projects). This comparison allows for a more up-to-date look at the intangible benefits of IT projects in large organizations, especially those implementing internal projects
Application of Use Cases and the UML language in the design of Intelligent Transportation Systems
No full textThe purpose of this paper is to analyse the applicability of the description of use cases and the UML language that takes them into account in the process of designing Intelligent Transportation Systems (ITS). These systems are built using standardized solutions and devices, but the system itself and the individual organizational solutions used therein are individually tailored to the needs of the employer - the manager of the road network on which the system is implemented. The first stage of the project may include verbal descriptions of the requirements, proposals for solutions, relations between system elements, contents of databases, etc. However, the next stages of the work should involve the use of tools to formalize the record so that it is understandable to the entire project team, the contractors of the system elements, and then form the basis for the development of design and detailed documentation. The tools that can be used in the design process of an ITS solution are, described in the paper use cases that define the interaction of system users ("actors") with the system, and the UML language used in the design of information systems. The paper describes the legal basis for ITS solutions, ways of defining use cases, the UML, including use case diagrams, behavioural diagrams and structural diagrams. Examples of the application of the UML to describe the design of an ITS system are also presented
Effect of oxidized graphene addition on diesel fuel quality parameters
No full textThe effect of oxidized graphene on the quality parameters of diesel fuel for transport was examined in this study. The research covered base diesel fuel and diesel fuel containing an additive package. Both tested fuels contained no biocomponent. The method of preparing a stable mixture of graphene material in each tested diesel fuels was developed for research purposes. Then, for the fuel samples prepared in this way, tests of quality parameters specified in EN 590 [1] were performed, and the test results were related to the criteria indicated in the mentioned standard. For parameters where it was technically possible to perform the determination, the results showed the influence of the graphene material on the content of solid impurities, oxidative stability and lubricity. For fuel samples containing oxidized graphene, the stability of the mixture under storage conditions was also examined