Value Relevance of Comprehensive Income
Michael E. Bradbury and
Australian Accounting Review, 2018, vol. 28, issue 2, 279-287
In this paper, we investigate the value relevance of comprehensive income and its components for a sample of 92 New Zealand companies over the period 2003â€“2010. We find a stronger association of aggregate comprehensive income with stock price and market returns relative to net income. The change in the asset revaluation reserve and the change in fair value of availableâ€ forâ€ sale securities drive this association. However, foreign currency translation and cash flow hedges are also associated with prices and returns.
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ausact:v:28:y:2018:i:2:p:279-287
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