HOW TRANSPARENT ARE COMPANIES LISTED ON THE BUCHAREST STOCK
EXCHANGE WHEN DISCLOSE THEM CONSOLIDATED FINANCIAL STATEMENTS?


                  Adriana Tiron-Tudor, „Babes-Bolyai” University of Cluj-Napoca
                  Raluca Valeria Raţiu, „Babes-Bolyai” University of Cluj-Napoca


ABSTRACT: The main objective of this paper is to examine the level of disclosure regarding the
consolidated financial statements in the case of Romanian listed companies. In order to measure
this, a multiple index was used that quantifies the level of dislosure a company has achieved. The
main conclusion, in accordance with our hypotheses is that the disclosure index is higher in the
case of first category of listed entities comparing with the second and third category.

Key words: consolidated financial statements, IFRS, harmonization, disclosure

JEL codes: M41