Abstract

http://ssrn.com/abstract=256931
 
 

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Accounting Standards and Value Relevance of Financial Statements: An International Analysis


Mingyi Hung


Hong Kong University of Science & Technology (HKUST); University of Southern California - Leventhal School of Accounting; Hong Kong University of Science & Technology (HKUST) - Department of Accounting


Journal of Accounting & Economics, Vol. 30, No. 3, December 2000

Abstract:     
Using 17,743 firm-year observations of industrial companies in 21 countries from 1991 to 1997, this paper finds that the use of accrual accounting (versus cash accounting) negatively affects the value relevance of financial statements in countries with weak shareholder protection. This negative effect, however, does not exist in countries with strong shareholder protection. These findings are consistent with the belief that shareholder protection improves the effectiveness of accrual accounting, and suggest the importance of considering shareholder protection when formulating accounting policies related to accruals.

Keywords: International financial reporting; Accounting standards; Accrual accounting

JEL Classification: G15, M41, M47


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Date posted: March 22, 2001  

Suggested Citation

Hung, Mingyi, Accounting Standards and Value Relevance of Financial Statements: An International Analysis. Journal of Accounting & Economics, Vol. 30, No. 3, December 2000. Available at SSRN: http://ssrn.com/abstract=256931

Contact Information

Mingyi Hung (Contact Author)
Hong Kong University of Science & Technology (HKUST) ( email )
Clearwater Bay
Kowloon
Hong Kong
University of Southern California - Leventhal School of Accounting ( email )
CA
United States
Hong Kong University of Science & Technology (HKUST) - Department of Accounting ( email )
Clear Water Bay
Kowloon
Hong Kong
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