THE VALUE RELEVANCE OF EARNINGS IN A TRANSITION ECONOMY: EVIDENCE FROM ROMANIAN STOCK MARKET
The paper examines the value relevance of accounting information in Romaniancapital market between 2005 and 2010. Value relevance can be interpreted as the usefulnessof accounting data for decision making process of investors and usually its existence is givenby a positive correlation between market and book values. The paper main focus is thevariation of value relevance over the 6 years period and the influence Romania‘s adhesion toEU and consequently IFRS implementation had on it. Additionally issues like transitionprocess, accounting reforms and conservatism of financial reporting are taken intoconsideration as potential explanatory factors for the variation of this fundamental quality ofaccounting.
Year of publication: |
2012
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Authors: | Takacs, Lavinia Minodora |
Published in: |
Annales Universitatis Apulensis Series Oeconomica. - Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia. - Vol. 1.2012, 14, p. 8-8
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Publisher: |
Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia |
Subject: | value relevance | transition economy | accounting earnings | equity valuation |
Saved in:
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