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| Author: | Jermakowicz, E.K. Prather-Kinsey, J. Wulf, I. |
| Title: | The value relevance of accounting income reported by DAX-30 German companies |
| Journal: | Journal of international financial management & accounting
2007 : AUTUMN, VOL. 18:3, p. 151-191 |
| Index terms: | financial reporting standards implementation financial statements joint stock companies Germany |
| Freeterms: | IFRS |
| Language: | eng |
| Abstract: | This article reviews the adoption process of International Financial Reporting Standards (hereafter as IFRS) from the viewpoint of companies listed in the German premium stock market. The survey for DAX-30 companies indicated that the negative effects of IFRS are related to the complexity of standards, implementing costs and the lack of guidance. On the other hand after adopting IFRS the financial statements of companies are more comparable. Also the association between the book values and income and the market values of these companies were examined. The regression method analysis covering the period 1995-2004 a reveals positive relationship between the book value of earnings and the market value of equity. |
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