Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2102049
IFRS adoption and value relevance of accounting information in the V4 region
Libor Závodný
David Procházka
Sažetak
The article compares the value relevance of information contained
in financial statements, namely earnings, operating cash flows
and book value of equity, in the V4 countries (the Czech
Republic, Hungary, Poland and Slovakia). Using a dataset of 604
firm-year observations for the period 2005–2017, we identify
higher value relevance of accounting information in the Czech
and Hungarian capital markets than in Poland. The financial statements
of the Slovak listed firms are found not to present value
relevant information. The most relevant metric on the Prague and
Budapest stock exchanges are earnings. For the Czech Republic
and Poland, we find that investors value between-period changes
more than absolute amounts for the period. Finally, the Czech
and Hungarian markets exhibit a considerable improvement in
value relevance of accounting information approximately five
years after adopting the IFRS.
Ključne riječi
IFRS; value relevance; V4 countries; earnings; cash flows; book value of equity
Hrčak ID:
306440
URI
Datum izdavanja:
31.3.2023.
Posjeta: 149 *