ROMANIAN COMPANIES’ WEB-BASED DISCLOSURE CHOICES AND CAPITAL MARKETS

This article aims to investigate the web-based disclosure choices andpractices among Romanian companies listed on Bucharest Stock Exchange. Web-based disclosure offers advantages that are absent in paper-based voluntarydisclosure: it can be accessed globally at much lower costs and it can be updatedmuch more timely also at much lower costs. Another goal of the paper is to establishthe criteria in order to select properly the sample companies. After presenting theadvantages and eventual risks of Internet Financial Reporting and analyzing previousinvestigative reports and articles, this paper investigates the degree to whichRomanian listed companies to disclose financial and non-financial information areusing the Internet. The web sites of these companies were examined throughout May2007 to May 2008, with a view to determining which companies present voluntaryfinancial or non-financial data in addition to the Annual Report and Accounts.internet financial reporting, mandatory and voluntary disclosure, capital markets,listed companies

VOLUNTARY INTERNET FINANCIAL REPORTING AND DISCLOSURE – A NEW CHALLENGE FOR ROMANIAN COMPANIES

The majority of IFR and disclosure studies are focused on USA and European developed countries. Only a few studies have been carried on CEE countries. This paper examines the extent of voluntary internet financial reporting and disclosure of the Romanianfinancial reporting, Internet, voluntary disclosure, listed companies

VOLUNTARY INTERNET FINANCIAL REPORTING AND DISCLOSURE – A NEW CHALLENGE FOR ROMANIAN COMPANIES

The majority of IFR and disclosure studies are focused on USA and European developed countries. Only a few studies have been carried on CEE countries. This paper examines the extent of voluntary internet financial reporting and disclosure of the Romania