The value relevance of voluntary European embedded value disclosures: evidence from UK life insurance companies

Muhammad Almezweq and Guy Liu

International Journal of Accounting and Finance, 2012, vol. 3, issue 4, 343-366

Abstract: This study examines the value relevance of the voluntary embedded value (EV) disclosures by publicly listed British life insurers pre and post the mandatory adoption of International Financial Reporting Standards (IFRS) in 2005. It provides evidence for the first time that the voluntary European embedded value (EEV) and market consistent embedded value (MCEV) disclosures are value relevant and have incremental information content over and above the statutory accounting information. It also shows that the changes in the methods by which EV numbers are calculated do not have any impact on the value relevance of EV disclosures.

Keywords: embedded value; UK life insurance; value relevance; Europe; voluntary disclosure; United Kingdom; International Financial Reporting Standards; IFRS; accounting information. (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ids:intjaf:v:3:y:2012:i:4:p:343-366

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