Value relevance of financial reporting on the Warsaw Stock Exchange

Monika Kubik-Kwiatkowska
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Monika Kubik-Kwiatkowska: Warsaw School of Economics

No 60, Working Papers from Department of Applied Econometrics, Warsaw School of Economics

Abstract: The paper is associated with value relevance research, investigating whether information from financial reports is reflected in the value of listed companies. The study includes annual reports of 440 companies listed on the Warsaw Stock Exchange in the years from 2000 to 2010. Models describing the relationship between information from financial reports and a measure of stock prices are based, in part, on a factor analysis. Validation of models on the test sample confirmed their effectiveness. The results show that the value relevance models may be one of the tools in building investment strategies.File-Format: Application/pdf

Keywords: value relevance; company valuation; principal component analysis; capital markets (search for similar items in EconPapers)
Pages: 13
Date: 2012-01-12
New Economics Papers: this item is included in nep-acc and nep-fmk
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