MARKET INEFFICIENCY AND VALUE RELEVANCE OF ACCOUNTING INFORMATION

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ETEMADI HOSSEIN; AHMADIAN VAHID; AGHAEI MOHAMADALI; MEHREGAN NADER

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Paper Information

Journal: JOURNAL OF SECURITIES EXCHANGE Year:2017 | Volume:10 | Issue:39 Page(s): 5-22

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Title

MARKET INEFFICIENCY AND VALUE RELEVANCE OF ACCOUNTING INFORMATION

Author(s)

ETEMADI HOSSEIN | AHMADIAN VAHID | AGHAEI MOHAMADALI | MEHREGAN NADER | Issue Writer Certificate

Keywords

PRICE DELAYQ2

RESPONSE COEFFICIENTQ2

MARKET INEFFICIENCYQ2

CONTEMPORARY RELATIONSQ2

Abstract

Assumption governing the current literature of researches related to the information content of accounting variables is that market prices are good alternative for the stock value, the claim that according to a number of researchers may create wrong perceptions conclusion based on research related to value relevance. In fact, due to inefficiency in the market, it is possible that the impact of accounting information on stock price is not done immediately and without delay. In this case, measuring the relationship between the mentioned variables is not suitable, because market values have been adjusted yet due to the presentation of financial information and the association between information and market variables is considered irrelevant. In this study, the effect of MARKET INEFFICIENCY on the estimation of coefficients in conventional models to assess the value relevance was evaluated analytically and empirically based on data from 100 companies in Tehran Stock Exchange during the years 2008 to 2015. It was found that MARKET INEFFICIENCY has a negative impact on the value relevance of accounting information.

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APA: Copy

ETEMADI, HOSSEIN, AHMADIAN, VAHID, AGHAEI, MOHAMADALI, & MEHREGAN, NADER. (2017). MARKET INEFFICIENCY AND VALUE RELEVANCE OF ACCOUNTING INFORMATION. JOURNAL OF SECURITIES EXCHANGE, 10(39 ), 5-22. SID. https://sid.ir/paper/187750/en

Vancouver: Copy

ETEMADI HOSSEIN, AHMADIAN VAHID, AGHAEI MOHAMADALI, MEHREGAN NADER. MARKET INEFFICIENCY AND VALUE RELEVANCE OF ACCOUNTING INFORMATION. JOURNAL OF SECURITIES EXCHANGE[Internet]. 2017;10(39 ):5-22. Available from: https://sid.ir/paper/187750/en

IEEE: Copy

HOSSEIN ETEMADI, VAHID AHMADIAN, MOHAMADALI AGHAEI, and NADER MEHREGAN, “MARKET INEFFICIENCY AND VALUE RELEVANCE OF ACCOUNTING INFORMATION,” JOURNAL OF SECURITIES EXCHANGE, vol. 10, no. 39 , pp. 5–22, 2017, [Online]. Available: https://sid.ir/paper/187750/en

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