Financial Highlights on Corporate Websites: Empirical Evidence from Poland

Marek Masztalerz

Chapter Chapter 21 in Regulation of Finance and Accounting, 2022, pp 261-271 from Springer

Abstract: Abstract The main purpose of this paper is to identify the scope of the voluntary disclosures of the financial highlights (FH) on the websites of public companies in Poland. All the companies listed on the Warsaw Stock Exchange (excluding banks and financial institutions) and reporting FH on their websites were analyzed. The content of the FH sections of the websites of 225 selected companies was analyzed in order to identify the scope of the FH disclosure and to assess the frequency of the reported measures: the absolute numbers (figures from financial statements) and relative indicators (profitability, liquidity, activity, leverage, and capital market ratios). As a result of the conducted research, it was found that nearly three quarters of the companies listed on the WSE present FH on their website. However, companies make different choices regarding their selected financial measures. Almost all of the surveyed companies present absolute numbers (mostly from the profit and loss statement), and only 72% enhance their FH with relative financial ratios (mostly profitability and capital market ratios). Unfortunately, only a quarter of the companies reporting relative ratios present calculation formulas.

Keywords: Accounting communication; Investor relations; Financial performance indicators; Financial highlights (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-99873-8_21

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DOI: 10.1007/978-3-030-99873-8_21

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