engleski

Comparative analysis of voluntary Internet Financial Reporting for selected CEE countries

Comparative research on the issue of voluntary Internet financial reporting was conducted on the sample of 91 companies whose securities are listed on one of the following capital markets: Zagreb Stock Exchange, Ljubljana Stock Exchange, Belgrade Stock Exchange, Sarajevo Stock Exchange and Banja Luka Stock Exchange. The purpose of this research was to determine the achieved level of voluntary Internet financial reporting on the observed capital markets. The highest level of Internet financial reporting measured through IFR score was reported in Slovenia and it amounted 23.25, than it is followed by Croatia with an average IFR grade of 21.27. Quite lower values of IFR score were noticed on the last three capital markets. For example, IFR score equals 9.75 on the Serbian capital market, on the Sarajevo Stock Exchange the average IFR score was 6.74 and the lowest level of transparency is noticed on Banja Luka Stock Exchange where the IFR score was only 3.61. The differences of the arithmetical means of the IFR scores for the observed countries were tested using Kruskal-Wallis test and conducted analysis indicates that among five countries there is a statistically significant difference in the level of Internet financial reporting measured through IFR score.

voluntary reporting; Internet; comparative analysis; trends

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