International differences in value relevanceof accounting data and explaining country factors

Callao Gastón, Susana (Universidad de Zaragoza) ; Cuéllar Fernández, Beatriz (Universidad de Zaragoza) ; Jarne Jarne, José Ignacio (Universidad de Zaragoza)

Resumen: Based on financial reporting and stock market information for 13,768 firms in 23 countries over the period 1995–1999, we perform a comparative analysis of the value relevance of reported earnings and their components. We also search the country and market factors explaining the relationship between financial reporting and prices. Our study provides evidence for the value relevance of net earnings figure. Breakdown of earnings into their components provides the investor with incremental information. Both factors related directly with the quantity and quality of the disclosed financial data and others country factors do affect the value relevance of accounting earnings.

Idioma: Inglés

DOI: 10.1504/IJAAPE.2006.011203

Año: 2006

Publicado en: International journal of accounting, auditing and performance evaluation 3, 4 (2006), 387-408
ISSN: 1740-8008

Tipo y forma: Article (Published version)

Área (Departamento): Área Economía Finan. y Contab. (Dpto. Contabilidad y Finanzas)