| Popis: |
The value relevance of financial reports has been the preoccupation of researchers and regulators during the last three decades. Therefore, this study is an attempt to reinvestigate the comparative value relevance of the main accounting figures (equity book value, earning, and cash flow) in two prominent economic and accounting models in the world, France and the UK. Using 115 French companies and 100 UK companies over the period 2011-2019, and relying on Ohlsonʼs model, the results indicated that equity book value and earnings are value-relevant in two countries, but cash flow has no value relevance. In France, the equity book value has low-value relevance versus a high-value relevance of earnings. However, in the UK, equity book value and earnings have close levels of value relevance. Although the differences between French and UK companies in terms of relative value relevance of equity book value and earnings, they have very close common value relevance. |
