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International differences in value relevance of accounting data and explaining country factors

Author

Listed:
  • Susana Callao
  • Beatriz Cuellar
  • Jose Ignacio Jarne

Abstract

Based on financial reporting and stock market information for 13,768 firms in 23 countries over the period 1995–1999, we perform a comparative analysis of the value relevance of reported earnings and their components. We also search the country and market factors explaining the relationship between financial reporting and prices. Our study provides evidence for the value relevance of net earnings figure. Breakdown of earnings into their components provides the investor with incremental information. Both factors related directly with the quantity and quality of the disclosed financial data and others country factors do affect the value relevance of accounting earnings.

Suggested Citation

  • Susana Callao & Beatriz Cuellar & Jose Ignacio Jarne, 2006. "International differences in value relevance of accounting data and explaining country factors," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 3(4), pages 387-408.
    • Handle: RePEc:ids:ijaape:v:3:y:2006:i:4:p:387-408
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