Romanian Journal of Economic Forecasting – XIX (2) 2016 27 STATISTICAL ASSESSMENT OF THE VALUE RELEVANCE OF FINANCIAL INFORMATION REPORTED BY ROMANIAN LISTED COMPANIES Elisabeta JABA 1 Ioan-Bogdan ROBU 2 Costel ISTRATE 3 Christiana Brigitte BALAN 4 Mihai ROMAN 5 Abstract Romanian listed companies must periodically report relevant financial information useful to all investors in the decision-making process. The purpose of this study is to statistically assess the value relevance of financial information reported by Romanian companies listed on the Bucharest Stock Exchange (BSE). The study was conducted on a sample of 67 BSE companies during 2006-2012. To assess the value relevance, we analyzed the influence of the principal indicators related to financial position and performance calculated using information from annual financial statements and the growth ratio of the daily share price. Panel data analysis was used to assess monthly the value relevance of financial information. Research results show that financial information has value relevance for investors but differs significantly in time and from one firm to another. Keywords: financial information, value relevance, stock price, panel data analysis JEL Classification: C23, C58, D53, G14, M41 1 Alexandru Ioan Cuza University of Iasi, E-mail: ejaba@uaic.ro 2 Alexandru Ioan Cuza University of Iasi, E-mail: bogdan.robu@feaa.uaic.ro 3 Alexandru Ioan Cuza University of Iasi, E-mail: istrate@uaic.ro 4 Alexandru Ioan Cuza University of Iasi, E-mail: christiana.balan@uaic.ro 5 Bucharest University of Economic Studies, E-mail: romanm@ase.ro 3.