VALUE RELEVANCE OF COMPANIES’ FINANCIAL STATEMENTS IN POLAND

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Marek Gruszczyński
Rafał Bilicz
Monika Kubik-Kwiatkowska
Aleksander Pernach


Abstrakt
Paper presents three attempts to model the relationship between financial reports of the companies listed on the Warsaw Stock Exchange and their market valuation. Main sections of the paper include: (1) overview of the contemporary issues in the “value relevance” studies with reference to the methodology of financial microeconometrics, (2) outcome of the research by M. Kubik-Kwiatkowska on value relevance of annual and quarterly reports, (3) results of the attempts by R. Bilicz on the association between E/P ratio and quarterly accounting data, (4) findings by A. Pernach on the relationship between ROIC or revenue and the market value. All results show that various connections between financials and valuation exist, depending on the approach.

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Jak cytować
Gruszczyński, M., Bilicz, R., Kubik-Kwiatkowska, M., & Pernach, A. (2016). VALUE RELEVANCE OF COMPANIES’ FINANCIAL STATEMENTS IN POLAND. Metody Ilościowe W Badaniach Ekonomicznych, 17(4), 40–49. Pobrano z https://qme.sggw.edu.pl/article/view/3883
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