Value-Relevance of Accounting Information and Effective Factors on It

Subject Areas :

Karim Hamdi ¹ (دانشیار دانشگاه آزاد اسلامی واحد علوم و تحقیقات)
Ali Faalghayouomi ² (کارشناس ارشد حسابداری دانشگاه تهران)
Mohsen Borzozade Zavare ³ (کارشناس ارشد حسابداری دانشگاه تهران)
Nastaran Taghikhani ⁴ (کارشناس ارشد مدیریت دولتی دانشگاه پیام نور)

Received: 2015-05-08 Accepted : 2015-05-08 Published : 2013-11-22

Keywords: Value-Relevance of Accounting Information, Return Model, Price Model,

Abstract :

This research investigates the value-relevance of accounting information to domestic investors in Tehran Security Exchange(TSE) during 1999 to 2009. We also investigate the impacts of two factors including positive vs. negative earnings and firm size. We considered earnings per share and annual change of earnings per share as the income statement indexes, and book value of equity per share as the balance sheet index according to return and price models. The regression analysis is used for testing the hypothesis. The result showed that accounting information is value-relevance to investors in Tehran Security Exchange according to both models. However, the income statement information is more value-relevance than the balance sheet information. Furthermore, the positive vs. negative earnings and firm size have significant impacts on value-relevance of accounting information.

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