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The Value Relevance Of The Performance Of Listed Italian Companies Following The Introduction Of The Ias/Ifrs


  • Stefano Azzali

    () (University of Parma Parma, Italy)

  • Luca Fornaciari

    () (University of Parma Parma, Italy)

  • Caterina Pesci

    () (University of Parma Parma, Italy)


This paper aims to offer a contribution to the area of value relevance studies. The analyzed var- iables are therefore partly accounting-related and partly market-related. The specific research area considered concerns the role of the International Accounting Standards (IAS/IFRS), investigating whether the adoption of IAS/IFRS has led to a greater correlation between some important financial statement values (net income, comprehensive income and equity) and stock market capitalization in comparison with ante-IAS/IFRS period. The study focuses on the Italian situation, analyzing a sample of 122 companies listed on the Milan Stock Exchange. We analyse a period of six years (2003-2008). The research shows specific results on the value relevance of accounting information referred to in- dustrial and financial sectors, and to net income in comparison with comprehensive income.

Suggested Citation

  • Stefano Azzali & Luca Fornaciari & Caterina Pesci, 2011. "The Value Relevance Of The Performance Of Listed Italian Companies Following The Introduction Of The Ias/Ifrs," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 2011, pages 3-18, july.
  • Handle: RePEc:aic:journl:y:2011:v:se:p:3-18

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    More about this item


    Value relevance; Comprehensive income; International Accounting Standards;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting


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