文章基本信息

标题：Investigation on the value relevance of accounting information: evidence from incorporated companies in the Singapore capital market
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作者：Basil Abeifaa Der ; Petr Polak ; Masairol Masr 等
期刊名称：Investment Management & Financial Innovations
印刷版ISSN：1810-4967
电子版ISSN：1812-9358
出版年度：2016
卷号：13
期号：3
页码：9-21
DOI：10.21511/imfi.13(3).2016.01
语种：English
出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：The purpose of this study is to investigate the relative,incremental and the systematic changes in value relevance of the accounting information.This study also attempts to investigate the effect of earnings management on the value relevance of accounting information.It basically uses Ohlson's(1995)valuation model to test the conceptual framework. The findings of this paper reveal that book value is more value relevant and incremental followed by earnings and, then,cash flow.Cash flow,however,performs a lesser valuation role.The results also show that combined book value and earnings are more value relevant than combined book value and cash flow.As a third contribution,the paper also finds that the value relevance of some accounting variables has increased over time,while others showed no evidence of their inclined or declined patterns in the value relevance of accounting information.Finally,the paper finds that earnings management has no effect on the value relevance of accounting information.Further analyses suggest that earnings management is opportunistic in the short run,but efficient in the long run,when firms are small or have high asset turnover.
关键词：value relevance;capital market;book values;earnings;cash flows;gearing;earnings management.