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Value-Relevance of Accounting Information:Evidence from Iranian Emerging Stock Exchange
Abstract:This study aims to investigate empirically the valuerelevance of accounting information to domestic investors in Tehran stock exchange from 1999 to 2006. During the present research impacts of two factors, including positive vs. negative earnings and the firm size are considered as well. The authors used earnings per share and annual change of earnings per share as the income statement indices, and book value of equity per share as the balance sheet index. Return and Price models through regression analysis are deployed in order to test the research hypothesis. Results depicted that accounting information is value-relevance to domestic investors in Tehran Stock Exchange according to both studied models. However, income statement information has more value-relevance than the balance sheet information. Furthermore, positive vs. negative earnings and firm size seems to have significant impact on valuerelevance of accounting information.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1084836Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2127
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