Jakość raportów finansowych a zmiana rynku notowań z NewConnect na rynek regulowany
Quality of financial reports vs. change of stock exchange market from alternative investment market (NewConnect to regulated market

Summary/Abstract: Quality of information disclosed by public companies in financial reports is a crucial problem both from practical and theoretical perspective. The paper checks if the company changes the stock-exchange market form alternative investment market (NewConnect) to regulated market. It results in increasing non-obligatory information range in yearly financial statements. Our sample consists of public companies which changed the market in 2009- -2013. We show that the expected improvement in the quality of reports appeared, although it is still an area for improvement. For the analysis, the quality index proposed by Eugster and Wagner was used, which was modified and adapted to Polish conditions.

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