International differences in value relevance of accounting data and explaining country factors

Susana Callao, Beatriz Cuellar and Jose Ignacio Jarne

International Journal of Accounting, Auditing and Performance Evaluation, 2006, vol. 3, issue 4, 387-408

Abstract: 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.

Keywords: value relevance; international capital markets; earnings components; country factors; accounting data; comparative analysis; financial reporting; net earnings. (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijaape:v:3:y:2006:i:4:p:387-408

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