The Value Relevance Of Earnings In A Transition Economy: Evidence From Romanian Stock Market
The paper examines the value relevance of accounting information in Romaniancapital market between 2005 and 2010. Value relevance can be interpreted as the usefulnessof accounting data for decision making process of investors and usually its existence is givenby a positive correlation between market and book values. The paper main focus is thevariation of value relevance over the 6 years period and the influence Romania‘s adhesion toEU and consequently IFRS implementation had on it. Additionally issues like transitionprocess, accounting reforms and conservatism of financial reporting are taken intoconsideration as potential explanatory factors for the variation of this fundamental quality ofaccounting.
Volume (Year): 1 (2012)
Issue (Month): 14 ()
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- Dobija, Dorota & Klimczak, Karol Marek, 2010. "Development of accounting in Poland: Market efficiency and the value relevance of reported earnings," The International Journal of Accounting, Elsevier, vol. 45(3), pages 356-374, September.
- 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.
- repec:bla:joares:v:29:y:1991:i:1:p:19-36 is not listed on IDEAS
- Stephen Ryan, 2006. "Identifying Conditional Conservatism," European Accounting Review, Taylor & Francis Journals, vol. 15(4), pages 511-525.
- David Aboody, 2002. "Measuring Value Relevance in a (Possibly) Inefficient Market," Journal of Accounting Research, Wiley Blackwell, vol. 40(4), pages 965-986, 09.
- Kousenidis, Dimitrios V. & Ladas, Anestis C. & Negakis, Christos I., 2009. "Value relevance of conservative and non-conservative accounting information," The International Journal of Accounting, Elsevier, vol. 44(3), pages 219-238, September.
- Basu, Sudipta, 1997. "The conservatism principle and the asymmetric timeliness of earnings," Journal of Accounting and Economics, Elsevier, vol. 24(1), pages 3-37, December.
- Barry Harrison & David Paton, 2005.
"Transition, the Evolution of Stock Market Efficiency and Entry into EU: The Case of Romania,"
Economic Change and Restructuring,
Springer, vol. 37(3), pages 203-223, 09.
- Barry Harrison & David Paton, 2004. "Transition, the Evolution of Stock Market Efficiency and Entry into EU: The Case of Romania," Economic Change and Restructuring, Springer, vol. 37(3), pages 203-223, 09.
- Kothari, S. P., 2001. "Capital markets research in accounting," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 105-231, September. Full references (including those not matched with items on IDEAS)
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