Can the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies

As a part of their strategic transactions, corporations often acquire stakes in other companies that do not grant them control, but allow them to use their resources to increase their profitability, access technological progress and innovation, develop products, or obtain dividends. The main objecti...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	George-Marian AEVOAE, Ioan-Bogdan ROBU, Roxana Manuela DICU, Ionut-Viorel HERGHILIGIU
Formato:	article
Lenguaje:	EN
Publicado:	Chamber of Financial Auditors of Romania 2021
Materias:	audit opinion portfolio investments blue chip companies stock market capitalization return on equity bucharest stock exchange Accounting. Bookkeeping HF5601-5689 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/887e54d0da9f42a5aef882cfd035d89c
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:887e54d0da9f42a5aef882cfd035d89c
record_format	dspace
spelling	oai:doaj.org-article:887e54d0da9f42a5aef882cfd035d89c2021-11-08T12:42:21ZCan the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies10.20869/AUDITF/2021/164/0261583-58121844-8801https://doaj.org/article/887e54d0da9f42a5aef882cfd035d89c2021-11-01T00:00:00Zhttp://revista.cafr.ro/temp/Article_9684.pdfhttps://doaj.org/toc/1583-5812https://doaj.org/toc/1844-8801As a part of their strategic transactions, corporations often acquire stakes in other companies that do not grant them control, but allow them to use their resources to increase their profitability, access technological progress and innovation, develop products, or obtain dividends. The main objective of this paper is to identify the factors influencing the behavior of acquirers who buy securities in the capital of the target companies, listed on Bucharest Stock Exchange, without intending to control them. The study aims to describe two dimensions of the buyers' behavior, when they buy shares that do not lead to the control of the target companies (below 50%). The first dimension refers to the buyer's decision to invest in a certain share of capital, influenced by the profitability of the target company and its market capitalization (dimensions of their performance), but also by the audit opinion on the annual financial statements. The relationship is positive and significant. The second dimension focuses on the decision of the acquirers to invest or not in a blue-chip company (top companies, considered the most efficient and stable on the financial market), with the main purpose of obtaining dividends or trading the respective securities on the capital market, in order to generate cash flows. The result shows that investors buy small shares in blue chip companies, compared to other companies, taking into account their performance and the audit opinion on the annual financial statements.George-Marian AEVOAEIoan-Bogdan ROBURoxana Manuela DICUIonut-Viorel HERGHILIGIUChamber of Financial Auditors of Romaniaarticleaudit opinionportfolio investmentsblue chip companiesstock market capitalizationreturn on equitybucharest stock exchangeAccounting. BookkeepingHF5601-5689FinanceHG1-9999ENAudit Financiar, Vol 19, Iss 164, Pp 759-768 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	audit opinion portfolio investments blue chip companies stock market capitalization return on equity bucharest stock exchange Accounting. Bookkeeping HF5601-5689 Finance HG1-9999
spellingShingle	audit opinion portfolio investments blue chip companies stock market capitalization return on equity bucharest stock exchange Accounting. Bookkeeping HF5601-5689 Finance HG1-9999 George-Marian AEVOAE Ioan-Bogdan ROBU Roxana Manuela DICU Ionut-Viorel HERGHILIGIU Can the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies
description	As a part of their strategic transactions, corporations often acquire stakes in other companies that do not grant them control, but allow them to use their resources to increase their profitability, access technological progress and innovation, develop products, or obtain dividends. The main objective of this paper is to identify the factors influencing the behavior of acquirers who buy securities in the capital of the target companies, listed on Bucharest Stock Exchange, without intending to control them. The study aims to describe two dimensions of the buyers' behavior, when they buy shares that do not lead to the control of the target companies (below 50%). The first dimension refers to the buyer's decision to invest in a certain share of capital, influenced by the profitability of the target company and its market capitalization (dimensions of their performance), but also by the audit opinion on the annual financial statements. The relationship is positive and significant. The second dimension focuses on the decision of the acquirers to invest or not in a blue-chip company (top companies, considered the most efficient and stable on the financial market), with the main purpose of obtaining dividends or trading the respective securities on the capital market, in order to generate cash flows. The result shows that investors buy small shares in blue chip companies, compared to other companies, taking into account their performance and the audit opinion on the annual financial statements.
format	article
author	George-Marian AEVOAE Ioan-Bogdan ROBU Roxana Manuela DICU Ionut-Viorel HERGHILIGIU
author_facet	George-Marian AEVOAE Ioan-Bogdan ROBU Roxana Manuela DICU Ionut-Viorel HERGHILIGIU
author_sort	George-Marian AEVOAE
title	Can the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies
title_short	Can the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies
title_full	Can the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies
title_fullStr	Can the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies
title_full_unstemmed	Can the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies
title_sort	can the audit opinion influence the portfolio investment decisions? the case of listed companies
publisher	Chamber of Financial Auditors of Romania
publishDate	2021
url	https://doaj.org/article/887e54d0da9f42a5aef882cfd035d89c
work_keys_str_mv	AT georgemarianaevoae cantheauditopinioninfluencetheportfolioinvestmentdecisionsthecaseoflistedcompanies AT ioanbogdanrobu cantheauditopinioninfluencetheportfolioinvestmentdecisionsthecaseoflistedcompanies AT roxanamanueladicu cantheauditopinioninfluencetheportfolioinvestmentdecisionsthecaseoflistedcompanies AT ionutviorelherghiligiu cantheauditopinioninfluencetheportfolioinvestmentdecisionsthecaseoflistedcompanies
_version_	1718442258441699328

Can the Audit Opinion Influence the Portfolio Investment Decisions? The Case of Listed companies

Ejemplares similares