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Testing of Value Relevance of Accounting Measures Based on IFRS in Borsa Istanbul Equity Market

Author

Listed:
  • Ulusan, Hikmet

    (Bozok University)

  • Ata, H. Ali

    (Gaziantep University)

Abstract

This study is to examine whether firms listed on “Borsa Istanbul Equity Market” have shown in the value relevance of accounting measures presented according to International Financial Reporting Standards and any difference in the value relevance specific to the firm features for the period 2009-2011. This research is based on Ohlson’s (1995) price regression model which assumes there is a linear relationship between stock price and shareholders’ equity book value, and income. Furthermore, the method of panel data analysis has been used. According to the findings, it has been identified that shareholders’ equity book value and net income or comprehensive income are value relevance for the firms. Additionally, the findings have indicated that, the value relevance of accounting measures based on International Financial Reporting Standards has shown difference in the features specific to the firm such as being multinational or not, the level of free float ratio, reporting comprehensive income or not except from firm size.

Suggested Citation

  • Ulusan, Hikmet & Ata, H. Ali, 2014. "Testing of Value Relevance of Accounting Measures Based on IFRS in Borsa Istanbul Equity Market," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 5(2), pages 61-78, April.
    • Handle: RePEc:ris:buecrj:0151
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    More about this item

    Keywords

    International Financial Reporting Standards (IFRS); Accounting Measures Value Relevance; Features Specific to Firm; Panel Data Analysis;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

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