Naslov
The information content of earnings and operating cash flows from annual report – analysis for Croatian listed companies

Autori
Pervan, Ivica ; Arnerić, Josip ; Malčak, Mario

Izvornik
Ekonomska istraživanja- Economic Research (1331-677X) 24 (2011), 3; 102-114

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, prethodno priopćenje, znanstveni

Ključne riječi
earnings; operating cash flow; information content; stock returns

Sažetak
The main purpose of this research was to test the information content of accounting information (earnings and operating cash flow) in the context of investors' decisions at capital markets. Research is based on event study approach where return volatility index RVIit is used as measure of market reaction in period of 10 days before and after publishing of accounting information. Research was done on the sample of companies from CROBEX 10, i.e. on the sample of 10 most traded companies from Zagreb stock exchange in period 2005-2009. As a general conclusion we can point out that accounting information (earnings and operating cash flow) from annual report have information content since market reacts on published information with abnormal returns.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA