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The Value Relevance Of The Performance Of Listed Italian Companies Following The Introduction Of The Ias/Ifrs

Author

Listed:
  • Stefano Azzali

    (University of Parma Parma, Italy)

  • Luca Fornaciari

    (University of Parma Parma, Italy)

  • Caterina Pesci

    (University of Parma Parma, Italy)

Abstract

This paper aims to offer a contribution to the area of value relevance studies. The analyzed var- iables are therefore partly accounting-related and partly market-related. The specific research area considered concerns the role of the International Accounting Standards (IAS/IFRS), investigating whether the adoption of IAS/IFRS has led to a greater correlation between some important financial statement values (net income, comprehensive income and equity) and stock market capitalization in comparison with ante-IAS/IFRS period. The study focuses on the Italian situation, analyzing a sample of 122 companies listed on the Milan Stock Exchange. We analyse a period of six years (2003-2008). The research shows specific results on the value relevance of accounting information referred to in- dustrial and financial sectors, and to net income in comparison with comprehensive income.

Suggested Citation

  • Stefano Azzali & Luca Fornaciari & Caterina Pesci, 2011. "The Value Relevance Of The Performance Of Listed Italian Companies Following The Introduction Of The Ias/Ifrs," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 2011, pages 3-18, july.
    • Handle: RePEc:aic:journl:y:2011:v:se:p:3-18
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    References listed on IDEAS

    as
    1. Mary E. Barth & Wayne R. Landsman & Mark H. Lang, 2008. "International Accounting Standards and Accounting Quality," Journal of Accounting Research, Wiley Blackwell, vol. 46(3), pages 467-498, June.
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    Cited by:

    1. Vilena Tișcenco & Veronica Grosu & Galina Bădicu, 2023. "Accounting, Financial And Tax Risk Mapping. A Bibliometric Approach," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 11(2), pages 82-88, June.
    2. Gavana, Giovanna & Gottardo, Pietro & Moisello, Anna Maria, 2020. "Did the switch to IFRS 11 for joint ventures affect the value relevance of corporate consolidated financial statements? Evidence from France and Italy," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 38(C).

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    More about this item

    Keywords

    Value relevance; Comprehensive income; International Accounting Standards;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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