The Value Relevance of Financial Accounting Information in a Transition Economy: The Case of the Czech Republic
| Autor: | Katerina Hellström |
|---|---|
| Rok vydání: | 2006 |
| Předmět: |
Economics and Econometrics
medicine.medical_specialty business.industry Economics Econometrics and Finance (miscellaneous) Accounting Positive accounting Fair value Value (economics) Transition economy Accounting information system medicine Economics Business Management and Accounting (miscellaneous) Relevance (information retrieval) Financial accounting Business and International Management business Finance Financial statement |
| Zdroj: | European Accounting Review. 15:325-349 |
| ISSN: | 1468-4497 0963-8180 |
| DOI: | 10.1080/09638180600916242 |
| Popis: | The paper investigates the value relevance of accounting information in the Czech Republic in 1994–2001. Value relevance is understood as the ability of financial statement information to capture or summarise information that affects share values and empirically tested as a statistical association between market values and accounting values. The objective of the study is to investigate the validity of the value relevance methodology by finding an accounting setting where the results of value relevance tests might be predicted unambiguously. If the results of these tests confirm the predicted results, the validity of the value relevance methodology might be assumed. A transition economy represented by the Czech Republic provides such an institutional and accounting setting. It might be assumed that value relevance of accounting information is lower in a transitional economy than in a well-developed market economy. It can also be assumed that the value relevance increases over time as a result of t... |
| Databáze: | OpenAIRE |
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