On the communicative function of financial accounting reporting: evidence from Romania
Supp/2007 , p 98..102
Author(s):
Mihaela IONASCU
Keywords:
Accounting disclosure, disclosure policies, communicative function of financial accounting, voluntary accounting disclosure
Abstract:
It has been argued (Crowther, 2002a) that the purpose for the publication of annual reports, especially by publicly quoted companies, is not merely to satisfy the statutory requirements. Annual reports are actually thought of as communicating vehicles employed as discursive practices between managers and the company’s stakeholders. After 40 years of communism, it is, however, questionable that the managers of Romanian quoted companies have fully acknowledged the communicative function of financial accounting reporting. Accordingly, the purpose of this paper is to perform an empirical investigation of the quality of accounting disclosure provided by Romanian companies listed at Bucharest Stock Exchange. To gather data we have surveyed the web sites of listed Romanian companies. The results showed that, overall, Romanian businesses incurred mediocre scores for quality of accounting disclosure. The results also showed that companies with better financial information disclosure policies had been more appealing to investors, incurring higher values of transactions
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