IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-01899159.html
   My bibliography  Save this paper

L'Analyse De L'Influence Des Composants Des Etats Financiers Sur La Capitalisation Boursière Des Entreprises Roumaines, Dans Les Conditions De La Crise

Author

Listed:
  • Costel Istrate

    (UAIC - Alexandru Ioan Cuza University of Iași = Universitatea Alexandru Ioan Cuza din Iași)

  • Bogdan Robu Ioan

Abstract

The global financial crisis has greatly affected the Romanian financial market and also the listed companies, with a direct impact on the content of the published financial statements. This reduced the satisfaction regarding the informational requirements of shareholders. This study aims to estimate the influence of the financial statements, under the conditions of the crisis on the market capitalization. The study was conducted at the level of Romanian companies listed between 2005 and 2011. For data analysis the advanced statistical methods were used. The research results show the major components of the financial statements that were identified for the Romanian listed companies and include the estimation of the influence of identified components on market capitalization.

Suggested Citation

  • Costel Istrate & Bogdan Robu Ioan, 2014. "L'Analyse De L'Influence Des Composants Des Etats Financiers Sur La Capitalisation Boursière Des Entreprises Roumaines, Dans Les Conditions De La Crise," Post-Print hal-01899159, HAL.
  • Handle: RePEc:hal:journl:hal-01899159
    Note: View the original document on HAL open archive server: https://hal.science/hal-01899159
    as

    Download full text from publisher

    File URL: https://hal.science/hal-01899159/document
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ashoka Mody & Damiano Sandri, 2012. "The eurozone crisis: how banks and sovereigns came to be joined at the hip [‘A pyrrhic victory? Bank bailouts and sovereign credit risk’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(70), pages 199-230.
    2. Mary E. Barth & Wayne R. Landsman & Mark H. Lang, 2008. "International Accounting Standards and Accounting Quality," Journal of Accounting Research, Wiley Blackwell, vol. 46(3), pages 467-498, June.
    3. Mete FERIDUN, 2008. "Currency Crises In Emerging Markets: The Case Of Post‐Liberalization Turkey," The Developing Economies, Institute of Developing Economies, vol. 46(4), pages 386-427, December.
    4. Franklin Allen & Elena Carletti, 2010. "An Overview of the Crisis: Causes, Consequences, and Solutions-super-," International Review of Finance, International Review of Finance Ltd., vol. 10(s1), pages 1-26.
    5. Corduneanu Carmen & Milos Laura Raisa, 2009. "Impact Of Financial Crisis Upon The Romanian Capital Market And Proposed Measures For Its Relaunching," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 3(1), pages 520-526, May.
    6. Hali J. Edison, 2003. "Do indicators of financial crises work? An evaluation of an early warning system," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 8(1), pages 11-53.
    7. Ngaire Kirk, 2006. "Perceptions of the true and fair view concept: an empirical investigation," Abacus, Accounting Foundation, University of Sydney, vol. 42(2), pages 205-235, June.
    8. Brown, Stephen & Lo, Kin & Lys, Thomas, 1999. "Use of R2 in accounting research: measuring changes in value relevance over the last four decades," Journal of Accounting and Economics, Elsevier, vol. 28(2), pages 83-115, December.
    9. Richard D. Morris & Tam Pham & Sidney J. Gray, 2011. "The Value Relevance of Transparency and Corporate Governance in Malaysia Before and After the Asian Financial Crisis," Abacus, Accounting Foundation, University of Sydney, vol. 47(2), pages 205-233, June.
    10. Michel Magnan, 2009. "Fair Value Accounting and the Financial Crisis: Messenger or Contributor?," CIRANO Working Papers 2009s-27, CIRANO.
    11. Gian-Maria Milesi-Ferretti & Cédric Tille, 2011. "The great retrenchment: international capital flows during the global financial crisis [‘The great trade collapse: what caused it and what does it mean?’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 26(66), pages 289-346.
    12. Michel Magnan & Daniel Thornton, 2009. "Fair Value Accounting," CIRANO Working Papers 2009s-47, CIRANO.
    13. Nistor Ioan & Ulici Maria, 2009. "Impact Of Financial Crisis Over The Companies Of Bet Index Composition," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 3(1), pages 281-287, May.
    14. Christina Leijonhufvud, 2007. "Financial Globalisation and Emerging Markets Volatility," The World Economy, Wiley Blackwell, vol. 30(12), pages 1817-1842, December.
    15. Kurt A. Desender & Christian E. Castro & Sergio A. Escamilla De León, 2011. "Earnings Management and Cultural Values," American Journal of Economics and Sociology, Wiley Blackwell, vol. 70(3), pages 639-670, July.
    16. Filip, Andrei & Raffournier, Bernard, 2010. "The value relevance of earnings in a transition economy: The case of Romania," The International Journal of Accounting, Elsevier, vol. 45(1), pages 77-103, March.
    17. Brezinski Horst & Stephan Johannes, 2011. "Capital inflows, Current Accounts, and Exchange Rate Regimes in Central East Europe during and after the Global Financial Crisis," Review of Economics, De Gruyter, vol. 62(1), pages 22-39, April.
    18. Mirko Licchetta, 2011. "Common determinants of currency crises: the role of external balance sheet variables," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 16(3), pages 237-255, July.
    19. repec:aei:rpaper:25935 is not listed on IDEAS
    20. Matt Pinnuck, 2012. "A Review of the Role of Financial Reporting in the Global Financial Crisis," Australian Accounting Review, CPA Australia, vol. 22(1), pages 1-14, March.
    21. Pascal Dumontier & Bernard Raffournier, 2002. "Accounting and capital markets: a survey of the European evidence," European Accounting Review, Taylor & Francis Journals, vol. 11(1), pages 119-151.
    22. Michel L. Magnan, 2009. "Fair Value Accounting and the Financial Crisis: Messenger or Contributor?," Accounting Perspectives, John Wiley & Sons, vol. 8(3), pages 189-213, August.
    23. Franklin Allen & Elena Carletti, 2010. "An Overview of the Crisis: Causes, Consequences, and Solutions," International Review of Finance, International Review of Finance Ltd., vol. 10(1), pages 1-26, March.
    24. Gilles Hilary & Gary C. Biddle, 2006. "Accounting Quality and Firm-Level Capital Investment," Post-Print hal-00481720, HAL.
    25. Basu, Sudipta, 1997. "The conservatism principle and the asymmetric timeliness of earnings," Journal of Accounting and Economics, Elsevier, vol. 24(1), pages 3-37, December.
    26. Mary E. Barth & Sanjay Kallapur, 1996. "The Effects of Cross†Sectional Scale Differences on Regression Results in Empirical Accounting Research," Contemporary Accounting Research, John Wiley & Sons, vol. 13(2), pages 527-567, September.
    27. Rajni Mala & Parmod Chand, 2012. "Effect of the global financial crisis on accounting convergence," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 52(1), pages 21-46, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ioan-Bogdan ROBU & Costel ISTRATE & Ionut Viorel HERGHILIGIU, 2019. "The Use of Audit Opinion in Estimating the Financial Reporting Transparency Level," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 17(153), pages 1-79.
    2. Lavinia Minodora Takacs, 2012. "The Value Relevance Of Earnings In A Transition Economy: Evidence From Romanian Stock Market," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(14), pages 1-8.
    3. Yuri Biondi & Pierpaolo Giannoccolo, 2015. "Share price formation, market exuberance and financial stability under alternative accounting regimes," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(2), pages 333-362, October.
    4. Tamer Elshandidy & Ahmed Hassanein, 2014. "Do IFRS and board of directors' independence affect accounting conservatism?," Applied Financial Economics, Taylor & Francis Journals, vol. 24(16), pages 1091-1102, August.
    5. Dechow, Patricia & Ge, Weili & Schrand, Catherine, 2010. "Understanding earnings quality: A review of the proxies, their determinants and their consequences," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 344-401, December.
    6. Lail, Bradley E., 2014. "Do cross-listers bond to U.S. markets? An examination of earnings quality around SOX," Advances in accounting, Elsevier, vol. 30(2), pages 354-366.
    7. Palea, Vera, 2014. "Are IFRS value-relevant for separate financial statements? Evidence from the Italian stock market," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 23(1), pages 1-17.
    8. Filip, Andrei & Raffournier, Bernard, 2010. "The value relevance of earnings in a transition economy: The case of Romania," The International Journal of Accounting, Elsevier, vol. 45(1), pages 77-103, March.
    9. Maigoshi, Zaharaddeen Salisu & Latif, Rohaida Abdul & Kamardin, Hasnah, 2018. "Change in value-relevance of disclosed RPT across accounting regimes: Evidence from Malaysia," Research in International Business and Finance, Elsevier, vol. 44(C), pages 422-433.
    10. Keryn Chalmers & Greg Clinch & Jayne M Godfrey, 2011. "Changes in value relevance of accounting information upon IFRS adoption: Evidence from Australia," Australian Journal of Management, Australian School of Business, vol. 36(2), pages 151-173, August.
    11. Mihaela Ionascu & Ion Ionascu & Marian Sacarin & Mihaela Minu, 2018. "Benefits of global financial reporting models for developing markets: The case of Romania," PLOS ONE, Public Library of Science, vol. 13(11), pages 1-24, November.
    12. Paul André & Andrei Filip & Luc Paugam, 2013. "Impact of Mandatory IFRS Adoption on Conditional Conservatism in Europe," Working Papers hal-00862683, HAL.
    13. Kothari, S. P., 2001. "Capital markets research in accounting," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 105-231, September.
    14. Daniel Mügge & Bart Stellinga, 2015. "The unstable core of global finance: Contingent valuation and governance of international accounting standards," Regulation & Governance, John Wiley & Sons, vol. 9(1), pages 47-62, March.
    15. William Bradford & Chao Chen & Song Zhu, 2017. "Conservative Accounting, IFRS Convergence and Cash Dividend Payments: Evidence from China," European Financial Management, European Financial Management Association, vol. 23(3), pages 376-414, June.
    16. Vera Palea, 2012. "Are IFRS Value-Relevant for Separate Financial Statements? Evidence from the Italian Stock Market," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201211, University of Turin.
    17. Michel Magnan & Haiping Wang & Yaqi Shi(Sans nom), 2016. "Fair Value Accounting and the Cost of Debt," CIRANO Working Papers 2016s-32, CIRANO.
    18. Cătălina Gorgan & Vasile Gorgan & Valentin Florentin Dumitru & Ileana Cosmina Pitulice, 2012. "The Evolution of the Accounting Practices During the Recent Economic Crisis: Empirical Survey Regarding the Earnings Management," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 550-562, June.
    19. Ozili, Peterson K, 2021. "Accounting and financial reporting during a pandemic," MPRA Paper 105183, University Library of Munich, Germany.
    20. Tamás Szücs & József Ulbert, 2017. "Role and Measurement of Fair Valuation in the Hungarian Credit Institution Sector," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 16(3), pages 51-73.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-01899159. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.