Ionel Jianu | The Bucharest Academy of Economic Studies (original) (raw)

Papers by Ionel Jianu

Research paper thumbnail of The Share Price and Investment: Current Footprints for Future Oil and Gas Industry Performance

The share price has become a very important indicator for shareholders, banks, and financial inst... more The share price has become a very important indicator for shareholders, banks, and financial institutions evaluating the performance of companies. The oil and gas industry seems to be in a difficult era of development, due to the market prices for its products. Moreover, climate change and renewable energies are barriers for fossil energy. This state of affairs, and the fact that oil and gas shares are considered one of the most solid and reliable shares on the London Stock Exchange (LSE), have drawn our attention. International institutions encourage the investment in the oil and gas economic sector. This study investigates how investments of oil and gas companies in long-term assets influence the share price. Using the Ohlson share price model for a sample of 51 listed companies on the LSE proves that investments in long-term assets influence the share price in the case of companies which record losses. Investments in long-term assets are responsible for the attractiveness of the oil and gas company shares.

Research paper thumbnail of THE VALUE RELEVANCE OF FINANCIAL REPORTING IN ROMANIA

Economic Computation and Economic Cybernetics Studies and Research, 2014

This study examines empirically whether investors in the Romanian stock market perceive accountin... more This study examines empirically whether investors in the Romanian stock market perceive accounting information based on domestic GAAP to be value relevant. The study is motivated by the value-relevance literature in the emerging stock markets in which Romania is also included. Using a sample of all productive listed companies in the Bucharest Stock Exchange from 2005 to 2008 with available data, we obtain evidence of value relevance of accounting information in Romania based on the return and price models. The results of this study are the following: accounting information is value relevant to investors in the emerging stock markets despite the young age of the market; the improvement of the accounting rules leads to increase the relevance of accounting information; the value relevance of accounting information is greater for the companies which: has positive earnings, are large, recorded a decrease of turnover; and/or are high indebted.

Research paper thumbnail of MEASURING THE COMPANY'S REAL PERFORMANCE BY PHYSICAL CAPITAL MAINTENANCE

The measurement of profit depends on the concepts of capital maintenance used by the company in p... more The measurement of profit depends on the concepts of capital maintenance used by the company in preparing its financial statements. The IASB Framework offers the option of choosing between two concepts of capital maintenance: financial capital and physical capital. This study highlights the adverse consequences of financial capital maintenance and supports for the recognition of profits by maintaining the physical capital. In this study we proposed a theoretical model to calculate the real profit by maintaining the physical capital. The model is applied for all Romanian production companies listed with available data by the restatement of information disclosed in the financial statements. The results demonstrate that the model based on physical capital maintenance captures the company's real performance. This model could be an alternative to the model based on financial capital maintenance which operates nowadays on the financial markets.

Research paper thumbnail of Influence Factors for the Choice of a Software Development Methodology

Journal of Accounting and Management Information Systems, 2011

Research paper thumbnail of The Reporting and Sustainable Business Marketing

Sustainability, 2016

Abstract: Companies have to communicate to be noticed on the market, to promote their services an... more Abstract: Companies have to communicate to be noticed on the market, to promote their services and products, and to give assurances that they are a credible partner in the relationship with stakeholders. In this article, starting from the importance of marketing communication in business, an index of sustainability communication was created for the companies listed on the Bucharest Stock Exchange for the period 2008–2009, during the financial crisis, seeking to show the awareness of the difficult
moment and the use of communication. Then, based on the relevance of accounting information model, we study the relationship between the index of sustainability communication and the share price, basically its influence on the future performance of the company. The regression analysis emphasizes the positive influence of the index of sustainability communication on the share price.

Keywords: sustainable development; sustainability communication; marketing campaign;
accounting and financial reporting

Research paper thumbnail of The Share Price and Investment: Current Footprints for Future Oil and Gas Industry Performance

The share price has become a very important indicator for shareholders, banks, and financial inst... more The share price has become a very important indicator for shareholders, banks, and financial institutions evaluating the performance of companies. The oil and gas industry seems to be in a difficult era of development, due to the market prices for its products. Moreover, climate change and renewable energies are barriers for fossil energy. This state of affairs, and the fact that oil and gas shares are considered one of the most solid and reliable shares on the London Stock Exchange (LSE), have drawn our attention. International institutions encourage the investment in the oil and gas economic sector. This study investigates how investments of oil and gas companies in long-term assets influence the share price. Using the Ohlson share price model for a sample of 51 listed companies on the LSE proves that investments in long-term assets influence the share price in the case of companies which record losses. Investments in long-term assets are responsible for the attractiveness of the oil and gas company shares.

Research paper thumbnail of THE VALUE RELEVANCE OF FINANCIAL REPORTING IN ROMANIA

Economic Computation and Economic Cybernetics Studies and Research, 2014

This study examines empirically whether investors in the Romanian stock market perceive accountin... more This study examines empirically whether investors in the Romanian stock market perceive accounting information based on domestic GAAP to be value relevant. The study is motivated by the value-relevance literature in the emerging stock markets in which Romania is also included. Using a sample of all productive listed companies in the Bucharest Stock Exchange from 2005 to 2008 with available data, we obtain evidence of value relevance of accounting information in Romania based on the return and price models. The results of this study are the following: accounting information is value relevant to investors in the emerging stock markets despite the young age of the market; the improvement of the accounting rules leads to increase the relevance of accounting information; the value relevance of accounting information is greater for the companies which: has positive earnings, are large, recorded a decrease of turnover; and/or are high indebted.

Research paper thumbnail of MEASURING THE COMPANY'S REAL PERFORMANCE BY PHYSICAL CAPITAL MAINTENANCE

The measurement of profit depends on the concepts of capital maintenance used by the company in p... more The measurement of profit depends on the concepts of capital maintenance used by the company in preparing its financial statements. The IASB Framework offers the option of choosing between two concepts of capital maintenance: financial capital and physical capital. This study highlights the adverse consequences of financial capital maintenance and supports for the recognition of profits by maintaining the physical capital. In this study we proposed a theoretical model to calculate the real profit by maintaining the physical capital. The model is applied for all Romanian production companies listed with available data by the restatement of information disclosed in the financial statements. The results demonstrate that the model based on physical capital maintenance captures the company's real performance. This model could be an alternative to the model based on financial capital maintenance which operates nowadays on the financial markets.

Research paper thumbnail of Influence Factors for the Choice of a Software Development Methodology

Journal of Accounting and Management Information Systems, 2011

Research paper thumbnail of The Reporting and Sustainable Business Marketing

Sustainability, 2016

Abstract: Companies have to communicate to be noticed on the market, to promote their services an... more Abstract: Companies have to communicate to be noticed on the market, to promote their services and products, and to give assurances that they are a credible partner in the relationship with stakeholders. In this article, starting from the importance of marketing communication in business, an index of sustainability communication was created for the companies listed on the Bucharest Stock Exchange for the period 2008–2009, during the financial crisis, seeking to show the awareness of the difficult
moment and the use of communication. Then, based on the relevance of accounting information model, we study the relationship between the index of sustainability communication and the share price, basically its influence on the future performance of the company. The regression analysis emphasizes the positive influence of the index of sustainability communication on the share price.

Keywords: sustainable development; sustainability communication; marketing campaign;
accounting and financial reporting