| Autor: Elżbieta Wysłocka | 605 |
Strony: 605-614
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Cel – celem niniejszej pracy jest wskazanie, że sprawozdawczość finansowa i ujawnianie są to potencjalnie ważne narzędzia zarządzania i porozumiewania się zarządzających z inwestorami zewnętrznymi. W pracy wskazano również na rolę sprawozdań i decyzji kierowników dotyczących ujawniania informacji na rynkach kapitałowych oraz zidentyfikowano kluczowe pytania badawcze. Metodologia badania – metody zarządzania ryzykiem inwestycyjnym, nieodłącznie związanym z lokowaniem kapitałów, są wyjaśniane poprzez odniesienie do literatury. Następnie wykorzystano zarówno badania prowadzone w środowisku akademickim, jak i badania korelacji wyników publikowanych w raportach spółek giełdowych ze zmianami cen akcji. Wynik – przeprowadzone badania wygenerowały szereg przydatnych spostrzeżeń. Zidentyfikowano wiele podstawowych pytań, które pozostają bez odpowiedzi w środowisku gospodarczym, postawiono nowe pytania oraz tematy badań naukowych. Oryginalność/Wartość – artykuł opiera się na obecnym stanie badań, podsumowując go i uzupełniając.
Słowa kluczowe: informacja, sprawozdanie finansowe, ryzyko inwestycyjne, audyt
THE ROLE OF IFORMATION AND FINANCIAL REPORTING IN THE ASSESSMENT OF INVESTMENT RISK
Abstract
Purpose – the aim of this paper is to demonstrate that the financial reporting and disclosure are potentially important tools for the management and communication between managers and external investors. The study also points out the role of the reports and decisions of managers related to the disclosure into capital markets and last but not least, identifies key research questions. Design/Methodology/approach – methods of investment risk management inherent to capital investments are explained by reference to the literature. Moreover, both research in academic environment as well as study on the correlation between the results published in reports of the listed companies and changes in their stock prices are examined. Findings – the conducted studies have generated a number of useful insights. Several fundamental questions have been identified which remain unanswered in the economic environment, new questions and research topics have also been raised. Originality/value – this article is based on the present state of research, summarizing and supplementing it.
Keywords: information, financial report, investment risk, audit
Abstract
Purpose – the aim of this paper is to demonstrate that the financial reporting and disclosure are potentially important tools for the management and communication between managers and external investors. The study also points out the role of the reports and decisions of managers related to the disclosure into capital markets and last but not least, identifies key research questions. Design/Methodology/approach – methods of investment risk management inherent to capital investments are explained by reference to the literature. Moreover, both research in academic environment as well as study on the correlation between the results published in reports of the listed companies and changes in their stock prices are examined. Findings – the conducted studies have generated a number of useful insights. Several fundamental questions have been identified which remain unanswered in the economic environment, new questions and research topics have also been raised. Originality/value – this article is based on the present state of research, summarizing and supplementing it.
Keywords: information, financial report, investment risk, audit