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Timeliness, conservatism and financial transparent firms under the Greek accounting setting

Author

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  • Panagiotis E. Dimitropoulos
  • Dimitrios Asteriou

Abstract

Purpose - This paper's aim is twofold: first, it seeks to examine the impact of financial transparency on the returns‐earnings relation and second, to test for the existence of conservative accounting between 1995 and 2004. Design/methodology/approach - The data were collected from a sample of 105 non‐financial firms listed at the Athens Stock Exchange and were analyzed using ordinary least square (OLS) regression models. Findings - Results indicated that conservative accounting is existent in the Greek accounting setting, but weak evidence regarding earnings timeliness was found. Additionally, evidence was found showing that disclosure improves earnings informativeness for firms with low conservatism but not in the case of firms with high timeliness. Overall the findings suggest that there are cases where better disclosure may not result on more informative stock prices. Originality/value - The present study adds to the existing literature by examining the issue of timeliness and conservatism within the context of an emerging capital market like Greece. To the authors' knowledge, this the first study which considers the aforementioned issues in the Greek accounting setting.

Suggested Citation

  • Panagiotis E. Dimitropoulos & Dimitrios Asteriou, 2008. "Timeliness, conservatism and financial transparent firms under the Greek accounting setting," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 7(3), pages 252-269, August.
    • Handle: RePEc:eme:rafpps:v:7:y:2008:i:3:p:252-269
    DOI: 10.1108/14757700810898249
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    Citations

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    Cited by:

    1. Theodora Kosma & Pavlos Petroulas & Evangelia Vourvachaki, 2020. "What drives wage differentials in Greece: workplaces or workers?," Economic Bulletin, Bank of Greece, issue 52, pages 69-72, December.
    2. Panayotis Manganaris & Jordan Floropoulos & Irini Smaragdi, 2011. "Conservatism and Value Relevance: Evidence from the European Financial Sector," American Journal of Economics and Business Administration, Science Publications, vol. 3(2), pages 259-269, April.
    3. Nikos Vettas & Konstantinos Peppas & Sophia Stavraki & Michail Vasileiadis, 2020. "The contribution of Industry to the Greek economy: facts and prospects," Economic Bulletin, Bank of Greece, issue 52, pages 29-67, December.
    4. Ioannis Asimakopoulos & Athanasios P. Fassas & Dimitris Malliaropulos, 2020. "Does earnings quality matter? Evidence from the Athens Exchange," Economic Bulletin, Bank of Greece, issue 52, pages 93-112, December.
    5. Constantina Backinezos & Stelios Panagiotou & Evangelia Vourvachaki, 2020. "Multiplier effects by sector: an input-output analysis of the Greek economy," Economic Bulletin, Bank of Greece, issue 52, pages 7-28, December.
    6. Tsipouridou, Maria & Spathis, Charalambos, 2012. "Earnings management and the role of auditors in an unusual IFRS context: The case of Greece," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 21(1), pages 62-78.
    7. Athanasios Vazakidis & Stergios Athianos, 2010. "Measuring Investors' Reaction to the Adoption of International Financial Reporting Standards in Greece, Using a Market-Based Model," American Journal of Economics and Business Administration, Science Publications, vol. 2(1), pages 103-112, March.

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