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Financial Disclosure Of Listed Romanian Companies And Analysts' Forecast Accuracy: An Exploratory Research

Author

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  • Mihaela IONA?CU

    () (Academy of Economic Studies Bucharest)

Abstract

The purpose of this paper is to investigate the relationship between financial disclosure of listed Romanian companies and analysts’ forecast accuracy. The results confirmed the European and the international trends showing that increased disclosure leads to lower forecast errors. For the first time for the Romania capital market, the paper documented empirically that analysts’ forecasts are more accurate for Romanian listed entities preparing financial statements conforming to IFRS.

Suggested Citation

  • Mihaela IONA?CU, 2011. "Financial Disclosure Of Listed Romanian Companies And Analysts' Forecast Accuracy: An Exploratory Research," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 1(6(21)), pages 50-56, March.
  • Handle: RePEc:ath:journl:tome:21:y:2011(vi):i:6(21):p:50-56
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    File URL: http://aimr.univath.ro/archive/atharticles/2011-1/2011-1-3.pdf
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    Keywords

    financial reporting; analysts’ forecast errors; IFRS adoption in Romanian;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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