The Contribution of Management Commentary Index Ma.Co.I in Annual Banking Reports ABR and the Chronicle of the Great Greek CrisisReport as inadecuate




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The research explores the extent to which theimplementation of International Financial Reporting Standards IFRS in theGreek banking sector has affected its financial and narrative reporting betweenthe periods prior 2002-2004 and after 2005-2010 the implementation of theIFRS. In particular, we examine the relation between Price per Share P,Earnings per Share EPS and the Book Value BV per share using data fromlisted banks of Athens Stock Exchange ASE. Further, the change of the narrativereporting quality of the Greek banking sector is studied along with the keyfinancial indicators trends between the two above periods. Moreover, weinvestigate the disclosure quality of narrative information of annual reportsfor the period after the Greek financial crisis i.e. from 2008 to 2010. Finally, we assess the relation betweenthe key financial indicators and Management Commentary MC. The findingsindicate a positive relationship between P, BV and EPS after the first periodof IFRS adoption i.e. from 2005 to2007. In addition, we report that MC has been considerably improved in thesame period, while a positive impact in the key financial Indicators has beenobserved. Furthermore, empirical evidence specifies that Debt tends to be themost important indicator of Management Commentary. Finally, in the beginning ofGreek crisis period the disclosure quality of narrative portion of annualreports are lower except. An important innovative characteristic of the aboveresults is that the Management Commentary Index Ma.Co.I is able to measurethe actual quality of Annual Banking Reports ABR and provide a reliable andunique tool for the investors.

KEYWORDS

IFRS, Annual Banking Reporting Quality, Management Commentary, Ma.Co.I

Cite this paper

Garefalakis, A. and Dimitras, A. 2016 The Contribution of Management Commentary Index Ma.Co.I in Annual Banking Reports ABR and the Chronicle of the Great Greek Crisis. Theoretical Economics Letters, 6, 1060-1087. doi: 10.4236-tel.2016.65103.





Author: Alexandros Garefalakis, Augustinos Dimitras

Source: http://www.scirp.org/



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