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Value relevance of financial reporting on the Warsaw Stock Exchange

Author

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  • Monika Kubik-Kwiatkowska

    (Warsaw School of Economics)

Abstract

The paper is associated with value relevance research, investigating whether information from financial reports is reflected in the value of listed companies. The study includes annual reports of 440 companies listed on the Warsaw Stock Exchange in the years from 2000 to 2010. Models describing the relationship between information from financial reports and a measure of stock prices are based, in part, on a factor analysis. Validation of models on the test sample confirmed their effectiveness. The results show that the value relevance models may be one of the tools in building investment strategies.File-Format: Application/pdf

Suggested Citation

  • Monika Kubik-Kwiatkowska, 2012. "Value relevance of financial reporting on the Warsaw Stock Exchange," Working Papers 60, Department of Applied Econometrics, Warsaw School of Economics.
    • Handle: RePEc:wse:wpaper:60
    as

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    File URL: http://kolegia.sgh.waw.pl/pl/KAE/struktura/IE/struktura/ZES/Documents/Working_Papers/aewp01-12.pdf
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    References listed on IDEAS

    as
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    4. Monika Witkowska, 2006. "Fundamentals and stock returns on the Warsaw Stock Exchange. The application of panel data models," Working Papers 11, Department of Applied Econometrics, Warsaw School of Economics.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    value relevance; company valuation; principal component analysis; capital markets;
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