Statistical Assessment of the Value Relevance of Financial Information Reported by Romanian Listed Companies

Elisabeta Jaba (), Ioan-Bogdan Robu (), Costel Istrate, Christiana Brigitte Balan () and Mihai Roman ()
Additional contact information
Elisabeta Jaba: Alexandru Ioan Cuza University of Iasi
Ioan-Bogdan Robu: Alexandru Ioan Cuza University of Iasi
Christiana Brigitte Balan: Alexandru Ioan Cuza University of Iasi
Mihai Roman: Bucharest University of Economic Studies

Journal for Economic Forecasting, 2016, issue 2, 27-42

Abstract: Romanian listed companies must periodically report relevant financial information useful to all investors in the decision-making process. The purpose of this study is to statistically assess the value relevance of financial information reported by Romanian companies listed on the Bucharest Stock Exchange (BSE). The study was conducted on a sample of 67 BSE companies during 2006-2012. To assess the value relevance, we analyzed the influence of the principal indicators related to financial position and performance calculated using information from annual financial statements and the growth ratio of the daily share price. Panel data analysis was used to assess monthly the value relevance of financial information. Research results show that financial information has value relevance for investors but differs significantly in time and from one firm to another.

Keywords: financial information; value relevance; stock price; panel data analysis (search for similar items in EconPapers)
JEL-codes: C23 C58 D53 G14 M41 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://www.ipe.ro/rjef/rjef2_16/rjef2_2016p27-42.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v::y:2016:i:2:p:27-42

Access Statistics for this article

Journal for Economic Forecasting is currently edited by Lucian Liviu Albu and Corina Saman

More articles in Journal for Economic Forecasting from Institute for Economic Forecasting Contact information at EDIRC.
Bibliographic data for series maintained by Corina Saman ( this e-mail address is bad, please contact ).