Izvorni znanstveni članak

https://doi.org/10.1080/1331677X.2019.1650655

Accounting quality and stock price informativeness: a cross-country study

Adriana Tiron-Tudor orcid.org/0000-0001-5530-5635 ; The Faculty of Economics and Business Administration, Accounting and Audit Department, Babes- Bolyai University, Cluj-Napoca, Romania
Andra Maria Achim (Nasca) ; The Faculty of Economics and Business Administration, Accounting and Audit Department, Babes- Bolyai University, Cluj-Napoca, Romania

Sažetak

This study investigates how accounting quality impacts the incorporation of firm-specific information into stock prices. Using data from 18 developed countries that apply IFRS, during the period 2004–2015, we find strong evidence that supports the hypothesis that accounting quality determines stock price informativeness. The results yield important policy implications because stock prices are a valuable source of information for many users, especially for the management of the listed companies. The study reveals accounting quality’s direct influence over the stock price informativeness, in the way that along with the improvement of accounting quality also increases the amount of firm-specific information embedded into stock prices.

Ključne riječi

Accounting quality; IFRS; financial reporting; stock price informativeness; synchronicity; idiosyncratic volatility

Hrčak ID:

229553

URI

https://hrcak.srce.hr/229553

Datum izdavanja:

22.1.2019.

Posjeta: 1.434 *