Marijana Bartulović

Value relevance of accounting information: evidence from South Eastern European countries

In this article the authors analysed value relevance of accounting information based on a sample of 97 corporations listed on one of the following capital markets: Ljubljana Stock Exchange, Zagreb Stock Exchange, Sarajevo Stock Exchange, Banja Luka Stock Exchange and Belgrade Stock Exchange. Research results show that accounting information is value relevant on all the observed markets. Value relevance analysis for the period 2005–2010 has shown that there was no increase in the explanatory power of accounting variables, but just the opposite. Research results indicate decreases or large oscillations in the value relevance for the observed period.

Determinants Of Internet Financial Reporting Of Croatian Banks – Panel Analysis

In the recent years, reporting and transparency of banks is in the focus of national and international regulators and their aim is to increase the transparency of financial institutions in order to strengthen stability of the banking system. In this paper, the authors used dynamic panel analysis in order to analyze the practice of Internet financial reporting of Croatian banks in the period from 2010 to 2014. Research of Banks Internet financial reporting practices was carried out at two levels. At the first, descriptive level, the goal of the research was to determine the level as well as trends of Internet financial reporting of 27 Croatian banks during the observed period. It is assumed that the level of Internet financial reporting during the analyzed period increased as a result of stricter regulations in the financial sector. In order to measure the level of financial reporting by banks, Bank Internet financial reporting score was developed on the basis of 45 elements - criteria which are divided into two groups: financial reporting (20 elements) and corporate governance and risks (25 elements). The second goal of the research was to determine factors that significantly affect the practice of Bank Internet financial reporting in Croatia. The authors applied dynamic panel analysis in order to determine the impact of size, profitability, adequacy of capital and ownership structure on the level of Internet financial reporting of banks.