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The usefulness of financial reporting in the process of market valuation of joint stock companies (Uzytecznosc sprawozdawczosci finansowej w procesie wyceny rynkowej spolek akcyjnych)

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  • Michal Pachowski

    (Katedra Finansow i Rachunkowosci, Wydzial Zarzadzania Uniwersytetu Warszawskiego)

Abstract

The aim of the article is to present a connection between market value and chosen financial data of Polish companies listed on Warsaw Stock Exchange. This theoretical analysis has been supported by an empirical study based on linear correlation. This article is only a part of a broader study which includes more than 100 quoted companies over the years 2000-2009.

Suggested Citation

  • Michal Pachowski, 2011. "The usefulness of financial reporting in the process of market valuation of joint stock companies (Uzytecznosc sprawozdawczosci finansowej w procesie wyceny rynkowej spolek akcyjnych)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 9(34), pages 56-74.
    • Handle: RePEc:sgm:pzwzuw:v:9:i:34:y:2011:p:56-74
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    File URL: http://pz.wz.uw.edu.pl/sites/default/files/artykuly/pz_4_2011-2_pachowski.pdf
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    References listed on IDEAS

    as
    1. Grossman, Sanford J & Stiglitz, Joseph E, 1980. "On the Impossibility of Informationally Efficient Markets," American Economic Review, American Economic Association, vol. 70(3), pages 393-408, June.
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