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BUSINESS AND ECONOMICS RESEARCH JOURNAL

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Article Information

Journal:Business and Economics Research Journal

Title of Article:Testing of Value Relevance of Accounting Measures Based on IFRS in Borsa Istanbul Equity Market

Author(s): Hikmet Ulusan, H. Ali Ata

Volume: 5

Number: 2

Year: 2014

Page:61-78

ISSN:1309-2448

Abstract

This study is to examine whether firms listed on “Borsa Istanbul Equity Market” have shown in the value relevance of accounting measures presented according to International Financial Reporting Standards and any difference in the value relevance specific to the firm features for the period 2009-2011. This research is based on Ohlson’s (1995) price regression model which assumes there is a linear relationship between stock price and shareholders’ equity book value, and income. Furthermore, the method of panel data analysis has been used. According to the findings, it has been identified that shareholders’ equity book value and net income or comprehensive income are value relevance for the firms. Additionally, the findings have indicated that, the value relevance of accounting measures based on International Financial Reporting Standards has shown difference in the features specific to the firm such as being multinational or not, the level of free float ratio, reporting comprehensive income or not except from firm size.

Keywords:International Financial Reporting Standards (IFRS), Accounting Measures Value Relevance, Features Specific to Firm, Panel Data Analysis.

JEL Classification:C23, G10, M40

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