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Value Relevance of Accounting Information in the United Arab Emirates

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  • Jamal Barzegari Khanagha

    (University of Yazd, Iran)

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    Abstract

    This paper examines the value relevance of accounting information in per and post-periods of International Financial Reporting Standards implementation using the regression and portfolio approaches for sample of the UAE companies. The results obtained from a combination of regression and portfolio approaches, show accounting information is value relevant in UAE stock market. A comparison of the results for the periods before and after adoption, based on both regression and portfolio approaches, shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted to mean that following to IFRS in UAE didn’t improve value relevancy of accounting information. However, results based on and portfolio approach shows that cash flows’ incremental information content increased for the post-IFRS period.

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    Bibliographic Info

    Article provided by Econjournals in its journal International Journal of Economics and Financial Issues.

    Volume (Year): 1 (2011)
    Issue (Month): 2 (June)
    Pages: 33-45

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    Handle: RePEc:eco:journ1:2011-02-2

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    Web page: http://www.econjournals.com

    Related research

    Keywords: Value Relevance; IFRS; Accounting Information; UAE.;

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    1. Andrei Filip, 2010. "IFRS and the value relevance of earnings: evidence from the emerging market of Romania," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 6(2/3), pages 191-223.
    2. Aljifri, Khaled & Khasharmeh, Hussein, 2006. "An investigation into the suitability of the international accounting standards to the United Arab Emirates environment," International Business Review, Elsevier, vol. 15(5), pages 505-526, October.
    3. Carol A. Marquardt & Christine I. Wiedman, 2004. "The Effect of Earnings Management on the Value Relevance of Accounting Information," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(3-4), pages 297-332.
    4. Chan, Kam C. & Seow, Gim S., 1996. "The association between stock returns and foreign GAAP earnings versus earnings adjusted to U.S. GAAP," Journal of Accounting and Economics, Elsevier, vol. 21(1), pages 139-158, February.
    5. Barth, Mary E. & Beaver, William H. & Landsman, Wayne R., 2001. "The relevance of the value relevance literature for financial accounting standard setting: another view," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 77-104, September.
    6. Harris, Mary S. & Muller III, Karl A., 1999. "The market valuation of IAS versus US-GAAP accounting measures using Form 20-F reconciliations1," Journal of Accounting and Economics, Elsevier, vol. 26(1-3), pages 285-312, January.
    7. Filip, Andrei & Raffournier, Bernard, 2010. "The value relevance of earnings in a transition economy: The case of Romania," The International Journal of Accounting, Elsevier, vol. 45(1), pages 77-103, March.
    8. Core, John E. & Guay, Wayne R. & Buskirk, Andrew Van, 2003. "Market valuations in the New Economy: an investigation of what has changed," Journal of Accounting and Economics, Elsevier, vol. 34(1-3), pages 43-67, January.
    9. Holthausen, Robert W. & Watts, Ross L., 2001. "The relevance of the value-relevance literature for financial accounting standard setting," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 3-75, September.
    10. Graham, Roger C. & King, Raymond D., 2000. "Accounting Practices and the Market Valuation of Accounting Numbers: Evidence from Indonesia, Korea, Malaysia, the Philippines, Taiwan, and Thailand," The International Journal of Accounting, Elsevier, vol. 35(4), pages 445-470, 010.
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