Divergent Patterns of Value Relevance

Karol Klimczak and Grzegorz Szafrański ()
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Grzegorz Szafrański: University of Lodz, Department of Econometrics, Poland

Chapter 3 in FindEcon Monograph Series: Advances in Financial Market Analysis, 2012, vol. 10, pp 37-57 from University of Lodz

Abstract: Chapter 3, written by K. M. Klimczak and G. Szafrański, is another example of microeconometric approach which attempts to explain the relationship between accounting numbers and stock valuation based on French and German data. There is a longstanding research showing that book values and earnings are correlated with market values and that investors react to corporate disclosures. The Authors' findings may have implications for comparative accounting research as they show that researchers need to examine value relevance both before and after publication of financial statements.

Keywords: Microeconometric approach; Financial statements; Corporate disclosures (search for similar items in EconPapers)
JEL-codes: C01 E02 F00 G00 (search for similar items in EconPapers)
Date: 2012
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