THE IMPACT OF LISTED COMPANIES FINANCIAL REPORTING ON THE CAPITAL MARKET - THE CASE OF ROMANIA

Ionescu Luiza
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Ionescu Luiza: VALAHIA UNIVERSITY OF TARGOVISTE

Annals - Economy Series, 2020, vol. 6, 35-41

Abstract: It is known in the specific literaturethat the performance on the capital market is closely related to the quality of investment decisions. However, for these decisions, investors need complete, accurate and timely information from companies that want to trade these curities (shares, bondsetc.) on the capital market. Therefore, it is mandatory for listed companies to provide all interested parties various information and reports that show how they manage their activity or business, information that must comply with the legal regulations. Based on this obligation, we can analyze the extent to which the financial reporting of listed companies has an impact on the capital market. The theoretical research of Romania's national legal context regarding the capital market, including the reporting requirements of listed companies is the starting point for the empirical study on the financial reporting impact analysis on the capital market. We will follow the correlation between the information contained in the mandatory financial statements of the listed companies and the indicators presented by the Bucharest Stock Exchange. The study also highlights how the information contained in the financial statements is useful to the capital market. Thus, we can consider the absolute value of indicators or we can use the rates (known as stock market indicators).

Keywords: financial reporting; capital market; listed company; impact (search for similar items in EconPapers)
Date: 2020
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