THE INFORMATION CONTENT OF INFLATION-ADJUSTED EARNINGS

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FARAJZADEH DEHKORDI HASSAN; ETEMADI HOSSEIN; FAGHFOOR MAGHREBI YEGANEH

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Journal: The Financial Accounting and Auditing Researches Year:2015 | Volume:7 | Issue:27 Page(s): 111-124

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Title

THE INFORMATION CONTENT OF INFLATION-ADJUSTED EARNINGS

Author(s)

FARAJZADEH DEHKORDI HASSAN | ETEMADI HOSSEIN | FAGHFOOR MAGHREBI YEGANEH | Issue Writer Certificate

Keywords

UNRECOGNIZED INFLATION GAINS AND LOSSESQ2

INFLATION ADJUSTED EARNINGSQ2

HISTORICAL COST EARNINGSQ2

STOCK RETURNSQ2

Abstract

This study investigates the value relevance of UNRECOGNIZED INFLATION GAINS AND LOSSES to explain changes in returns and incremental information content of INFLATION ADJUSTED EARNINGS in comparison with HISTORICAL COST EARNINGS in firms listed in Tehran Stock Exchange. We used inflation adjusted algorithm of Konchitchki (2011) to extract inflation adjusted information from nominal financial statements. Using ordinary least squares regressions, pooled and panel data and applying a two-stage regression approach, results indicate that UNRECOGNIZED INFLATION GAINS AND LOSSES are value relevant for explaining fluctuations in returns. Moreover, INFLATION ADJUSTED EARNINGS and HISTORICAL COST EARNINGS have incremental information content beyond each other. The results of this research suggest that inflation financial reporting should be mandated as supplementary to the historical cost financial reporting rather than a replacement to historical cost financial reporting.

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APA: Copy

FARAJZADEH DEHKORDI, HASSAN, ETEMADI, HOSSEIN, & FAGHFOOR MAGHREBI, YEGANEH. (2015). THE INFORMATION CONTENT OF INFLATION-ADJUSTED EARNINGS. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, 7(27), 111-124. SID. https://sid.ir/paper/197931/en

Vancouver: Copy

FARAJZADEH DEHKORDI HASSAN, ETEMADI HOSSEIN, FAGHFOOR MAGHREBI YEGANEH. THE INFORMATION CONTENT OF INFLATION-ADJUSTED EARNINGS. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES[Internet]. 2015;7(27):111-124. Available from: https://sid.ir/paper/197931/en

IEEE: Copy

HASSAN FARAJZADEH DEHKORDI, HOSSEIN ETEMADI, and YEGANEH FAGHFOOR MAGHREBI, “THE INFORMATION CONTENT OF INFLATION-ADJUSTED EARNINGS,” THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, vol. 7, no. 27, pp. 111–124, 2015, [Online]. Available: https://sid.ir/paper/197931/en

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