VALUE RELEVANCE OF COMPANIES’ FINANCIAL STATEMENTS IN POLAND

• Authors: Gruszczyński Marek , Bilicz Rafał , Kubik-Kwiatkowska Monika , Pernach Aleksander
• Languages of publication: EN

Abstracts

EN

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.

Keywords

EN

value relevance of accounting statements; financial microeconometrics; comparative valuation

• Publisher: Katedra Ekonometrii i Statystyki, Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
• Journal: Metody Ilościowe w Badaniach Ekonomicznych
• Year: 2016
• Volume: 17
• Issue: 4
• Pages: 40-49

Contributors

author

Gruszczyński Marek

• Institute of Econometrics, SGH Warsaw School of Economics, Poland

author

Bilicz Rafał

• Sollers Consulting

author

Kubik-Kwiatkowska Monika

author

Pernach Aleksander

• Institute of Econometrics, SGH Warsaw School of Economics, Poland

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