VOLUNTARY DISCLOSURE AND PERFORMANCE IN TIME OF ECONOMIC INSTABILITY. THE CASE STUDY OF TURISM FELIX COMPANY
| Autor: | Balint Platon Judit, Bogdan Victoria, Popa Dorina Nicoleta |
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| Jazyk: | German<br />English<br />French<br />Italian |
| Rok vydání: | 2010 |
| Předmět: | |
| Zdroj: | Annals of the University of Oradea: Economic Science, Vol 1, Iss 1, Pp 577-584 (2010) |
| Druh dokumentu: | article |
| ISSN: | 1222-569X 1582-5450 |
| Popis: | In the last few decades, the problem of voluntary disclosure of financial or non-financial information has been, in the attention of specialists, given the fact that information assimetry, as explained by the agency theory, has become an important factor for the actors of financial markets. High quality financial reports consistent with the IAS/IFRS, issued at regular intervals, have the role of offering data for in-depth financial analisys that can be the basis for decisions regarding stock market investments. The performance of company, estimated by using the EVA, MVA, VA indicators, are directly linked with the average cost of capital, which in turn is sensitive to the evolutions of the stock market, measured both by the level of the asset attached to the entity and of the level of financial market. The impact of voluntary disclosure on company’s performance in our paper has been studied on TUFE company listed on the Bucharest Stock Exchange, confirming a refined degree of predictability. |
| Databáze: | Directory of Open Access Journals |
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