The Value Relevance Of The Performance Of Listed Italian Companies Following The Introduction Of The Ias/Ifrs

Stefano Azzali (stefano.azzali@unipr.it), Luca Fornaciari (luca.fornaciari@nemo.unipr.it) and Caterina Pesci (caterina.pesci@nemo.unipr.it)
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Stefano Azzali: University of Parma Parma, Italy
Luca Fornaciari: University of Parma Parma, Italy
Caterina Pesci: University of Parma Parma, Italy

Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), 2011, vol. 2011SE, 3-18

Abstract: This paper aims to offer a contribution to the area of value relevance studies. The analyzed var- iables are therefore partly accounting-related and partly market-related. The specific research area considered concerns the role of the International Accounting Standards (IAS/IFRS), investigating whether the adoption of IAS/IFRS has led to a greater correlation between some important financial statement values (net income, comprehensive income and equity) and stock market capitalization in comparison with ante-IAS/IFRS period. The study focuses on the Italian situation, analyzing a sample of 122 companies listed on the Milan Stock Exchange. We analyse a period of six years (2003-2008). The research shows specific results on the value relevance of accounting information referred to in- dustrial and financial sectors, and to net income in comparison with comprehensive income.

Keywords: Value relevance; Comprehensive income; International Accounting Standards (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (2)

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