新兴市场会计信息的价值相关性:沙特阿拉伯非金融上市公司采用《国际财务报告准则》的案例

IF 3.2 Q1 BUSINESS, FINANCE Journal of Accounting in Emerging Economies Pub Date : 2023-03-20 DOI:10.1108/jaee-06-2022-0165
S. Chehade, D. Procházka
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引用次数: 1

摘要

目的本文旨在为沙特阿拉伯新兴市场采用《国际财务报告准则》对会计信息价值相关性的影响提供实证证据。设计/方法/方法样本包括2014年至2019年在沙特阿拉伯经营的98家非金融上市公司,代表采用《国际财务报告准则》前后的年份。作者应用基本价格模型和扩展价格模型来检验所选会计数字的价值相关性。调查结果作者的调查结果提供了证据,证明会计信息的价值通常与沙特阿拉伯资本市场有关。然而,对于特定的会计变量,结果喜忧参半。收益和现金流在采用《国际财务报告准则》前后都与价值相关;衡平法只在采用后的时期才有意义。此外,采用《国际财务报告准则》也增加了收益的解释力。收益和权益的价值相关性增加会损害现金流的价值相关性。杠杆和股息政策缓和了这种影响。原创性/价值作者为正在进行的关于新兴市场采用《国际财务报告准则》的经济影响的讨论做出了贡献。实证结果表明,一旦对财务报表中公布的个别会计变量的有用性进行调查,回归分析中的负系数反映的对采用《国际财务报告准则》的最初担忧就会减轻。
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Value relevance of accounting information in an emerging market: the case of IFRS adoption by non-financial listed firms in Saudi Arabia
PurposeThe paper aims to provide empirical evidence of the impact of IFRS adoption on the value relevance of accounting information in the emerging market of Saudi Arabia.Design/methodology/approachThe sample consists of 98 non-financial listed firms operating in Saudi Arabia from 2014 to 2019, representing the years before and after IFRS adoption. The authors apply basic and extended price models to examine the value relevance of select accounting figures.FindingsThe authors findings provide evidence that accounting information is, generally, value relevant to the Saudi Arabian capital market. However, mixed results exist for particular accounting variables. Both earnings and cash flows are value-relevant in the period before and after IFRS adoption; equity is only relevant in the post-adoption period. Furthermore, IFRS adoption also increases the explanatory power of earnings. An increase in the value relevance of earnings and equity hurts the value relevance of cash flows. The effects are moderated by leverage and dividend policy.Originality/valueThe authors contribute to the ongoing discussion of the economic effects of IFRS adoption in emerging markets. The empirical findings show that initial concerns about IFRS adoption, as reflected by the negative coefficient within the regression analysis, are mitigated once the usefulness of the individual accounting variables published in financial statements is investigated.
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来源期刊
CiteScore
5.80
自引率
13.00%
发文量
38
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