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Factors that influence the performance of listed companies considering the IFRS approach: Evidence from Romania

Author

Listed:
  • Laura BRAD

    (Bucharest University of Economic Studies, Romania)

  • Radu CIOBANU

    (Bucharest University of Economic Studies, Romania)

  • Florin DOBRE

    (Bucharest University of Economic Studies, Romania)

Abstract

The Romanian Companies that are listed on stock market have to report their individual financial statements under IFRS from 2012. The present research tries to reveal the influence of individual factor upon financial performance, measured through return on equity and cash flow to total assets ratio. The results provide evidence that the companies that open their insolvency procedure have indeed a lower performance, while the external auditor who has audited their financial statement is not significantly important. Considering the CEO-Chair duality, no relevant conclusions about the influence of financial performance were observed. Furthermore, opposite reaction to foreign and Romanian institutional shareholders was observed upon financial performance.

Suggested Citation

  • Laura BRAD & Radu CIOBANU & Florin DOBRE, 2014. "Factors that influence the performance of listed companies considering the IFRS approach: Evidence from Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(Special), pages 32-39, June.
    • Handle: RePEc:agr:journl:v:xxi:y:2014:i:special:p:32-39
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