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• Consolidated financial statements in light of the Hungarian regulations and the IFRS standards

  75-93

  Alexandra Szekeres

  Angelika Dienes

  Views:

  305

  Companies today have diverse relationship systems. In a legal sense, individual companies exercising influence on each other engage in significant transactions with each other during their operations. Market participants require knowledge of the financial, monetary, and income status of these corporate groups. Therefore, in addition to individual annual reports, it is also important to prepare consolidated financial statements that present the group as a single entity, following either national or international accounting standards.

  In our study, the legal background of consolidation will be presented, as well as the rules of consolidation based on Hungarian regulations and the International Financial Reporting Standards (IFRS). Two IFRS consolidated financial statements will be compared, with a particular focus on the consolidated notes on the accounts (Notes), highlighting those intangible assets whose representation and evaluation are significantly different from Hungarian rules. While the selected parent companies present their corporate groups to varying extents and levels of detail, the requirements of the standards are reflected throughout.

  JEL code: M40

• Allocation Of Residual Income Rights Under Internal Governance Empirical Results from the Hungarian Trucking Industry

  93-104

  Joseph Windsperger

  Maria Jell

  Views:

  258

  The paper offers a property rights and monitoring cost explanation for the allocation of residual income rights between the carriers and truck drivers under internal governance. First, by applying property rights theory, we argue that the structure of residual income rights depends on the importance of noncontractible (intangible) assets of the truck driver to generate a residual surplus. The more important the truck driver’s intangible knowledge
  assets, the more residual income rights should be transferred to him. In addition, we controlled for the monitoring costs as an additional explanatory variable of the allocation of residual income rights. According to agency theory, the higher the variable proportion of the driver’s income, the higher the monitoring costs.These hypotheses were tested by using data from the Hungarian trucking industry. The empirical results are supportive of the hypotheses.

  JEL- Index: G32, M2

• The VAIC™-based efficiency of intellectual capital and quantile panel analysis of profitability in the Visegrad countries and Romania

  146-166

  Mirjam Hamad

  Tibor Tarnóczi

  Views:

  95

  The aim of the study is to examine the efficiency of intellectual capital in companies from the Visegrad Four countries and Romania. The study investigates the development of intellectual capital efficiency in large companies from five countries, focusing on the components of the VAIC indicator. Furthermore, using panel regression, the study analyzes the impact of the elements of the VAIC indicator on profitability indicators considered by investors. The results of the research indicate that most of the independent variables have an impact on profitability indicators. The effect was stronger for companies with lower profitability indicators, while smaller changes were observed in companies with higher profitability. Additionally, it was found that human capital had the greatest impact on profitability.