Effect of PFRS 15 adoption on the value relevance of selected Philippine publicly-listed companies' financial ratios and macroeconomic attributes

Lawrence J.M. Marcella, Patricia M. Empleo and Ma. Belinda S. Mandigma

International Journal of Monetary Economics and Finance, 2025, vol. 18, issue 2/3, 147-155

Abstract: Ball and Brown (Aladwan, 2019) originated the research on value relevance. The study used a descriptive-correlational research design to analyse if the book value, earnings, dividends, firm size, firm growth, leverage, inflation rate, and GDP growth rate are value relevant. More so, it tested if the PFRS 15 adoption affected the stock price. The financial data from 58 publicly-listed companies went through fixed effect regression as statistical treatment. Results revealed that earnings per share and firm size are value-relevant with significant positive effect on the stock price, while the adoption of PFRS 15 has significant negative influence on it.

Keywords: PFRS 15; value relevance; stock price; Ohlson Price Model; book value per share; earnings per share; dividends per share. (search for similar items in EconPapers)
Date: 2025
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