Value-Relevance and Timeliness of Financial Information Under Different Information Regimes

Posted: 21 Aug 2000

See all articles by Eli Amir

Eli Amir

Tel Aviv University

Tomer Regev

Columbia Business School

Date Written: August 2000

Abstract

Most agree that value-relevance and timeliness are two important and desirable attributes of financial information. In this study, we examine the value-relevance and timeliness of financial information under different information regimes: distinct trading mechanisms and different levels of ownership concentration. We take advantage of a unique setting - companies listed on the Tel Aviv Stock Exchange (TASE) characterized by a high ownership concentration, and availability of two distinct trading methods. The setting is also characterized by a relatively high quality of financial reporting and a low level of analysts' coverage, which allows an examination of accounting attributes in the absence of other sources of information.

JEL Classification: G12, G14, G29, G32, M41

Suggested Citation

Amir, Eli and Regev, Tomer, Value-Relevance and Timeliness of Financial Information Under Different Information Regimes (August 2000). Available at SSRN: https://ssrn.com/abstract=236789

Eli Amir (Contact Author)

Tel Aviv University ( email )

312 Recanati Bldg.
69978 Tel Aviv
Israel
+972 3 640-8510 (Phone)
+972 3 640-7738 (Fax)

Tomer Regev

Columbia Business School ( email )

3022 Broadway
New York, NY 10027
United States

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