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Accounting Disclosure and Stock Market Reaction. Empirical Analysis on Bucharest Stock Exchange

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  • MiloÅŸ Laura Raisa

    (West University of Timisoara)

  • MiloÅŸ Marius Cristian

    (West University of Timisoara)

Abstract

The paper provides new evidence in what concerns the stock market reaction to preliminary and final corporate accounting disclosure, with application on the Romanian capital market, Bucharest Stock Exchange (BSE). Using GARCH methodology, our results are similar with the results of the previous empirical literature that proved that the accounting information brings new and relevant information for the investors and highlight in the same time the importance of disclosure regulation for the development of stock markets.

Suggested Citation

  • MiloÅŸ Laura Raisa & MiloÅŸ Marius Cristian, 2018. "Accounting Disclosure and Stock Market Reaction. Empirical Analysis on Bucharest Stock Exchange," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 643-648, December.
    • Handle: RePEc:ovi:oviste:v:xviii:y:2018:i:2:p:643-648
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    References listed on IDEAS

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    Cited by:

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    More about this item

    Keywords

    stock market; BSE; disclosure; accounting information; Garch;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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