 Impact of financial crises on the value relevance of earnings and book value: 1994 and 2001 crises in TurkeySerdar Ozkan () and
Çağnur KAYTMAZ Balsari
Iktisat Isletme ve Finans, 2010, vol. 25, issue 288, 81-95 Abstract: This study examines the change in the value relevance of earnings and book value between years 1992-2007 for non-financial firms listed in Istanbul Stock Exchange. During this period Turkey experienced the economic crises of 1994 and 2001, each with different characteristics. The previous literature shows that both under firm level and macro level economic pressure, the value relevance of book value increase whereas results on earnings are inconclusive. The same financial crises can influence value relevance differently in separate countries depending on country specific factors. Similarly, it can be expected that different economic crises can affect the value relevance differently in the same country depending on the type or severity of the financial crisis. The results show that the impacts of the 2001 and 1994 crises on the value relevance of earnings are different, and this may be due to the different characteristics of these two crises. Keywords: Financial crises; value relevance; book value; earnings; ISE (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:iif:iifjrn:v:25:y:2010:i:288:p:81-95 Ordering information: This journal article can be ordered from Access Statistics for this article Iktisat Isletme ve Finans is currently edited by Ali Bilge More articles in Iktisat Isletme ve Finans from Bilgesel Yayincilik |
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