Search results for "value relevance"
showing 3 items of 3 documents
The value relevance of losses revisited: the importance of earnings aggregation
2011
Accepted version of an article published in the journal: Global Business and Economics Review. Also available from the publisher at: http://dx.doi.org/10.1504/GBER.2011.040728 Prior research has suggested that earnings explain a larger portion of the variation in stock returns when disaggregated into components. This study shows that the increase in explanatory power stems primarily from disaggregation of negative earnings. When accounting earnings are sufficiently disaggregated into items, there is no longer a statistical difference in the value relevance of positive and negative earnings. Thus, negative earnings are also useful to stock investors. The findings are attributed to earnings p…
Goodwill impairments and the value relevance of goodwill of the small listed companies in Finland
2016
Tutkimuksen tavoitteena on tarkastella, miten liikearvon arvo määräytyy ja onko liikearvo arvorelevanttia. Kohdeyritysten taloudellisten tietojen ja niiden analysoinnin pohjalta on tarkoituksena selvittää, onko liikearvon ja yrityksen markkina-arvon välillä yhteys sekä miten liikearvon määrä on vaihdellut kohdeyritysten taseissa vuosina 2007-2014. Tavoitteena on myös selvittää, miten markkinat suhtautuvat liikearvon arvonalentumiskirjauksiin. Tutkimusmenetelmä on kvantitatiivinen tutkimus, jossa on myös ominaispiirteitä field-tutkimuksesta. Tutkimusaineisto koostuu kirjallisuuden lisäksi kohdeyritysten tilinpäätöstiedoista sekä muusta taloudellisesta informaatiosta, kuten pörssikurssitiedoi…
The predictive ability and value relevance of accounting measures
2011
Accepted version of an article published in the journal: International Journal of Economics and Accounting. Also available from the publisher at: http://dx.doi.org/10.1504/IJEA.2011.041894 Empirical accounting research sometimes assumes that the value relevance of accounting variables can be indirectly assessed by studying the ability of the variables to forecast future cash flow and earnings. This study investigates the relationships between short-term cash flow and earnings prediction tests and value relevance analyses. I find that earnings prediction tests might be good substitutes for value relevance analyses, whereas cash flow prediction tests merely provide indications with respect to…