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Reitmaier, Christine, and Wolfgang Schultze. "Enhanced business reporting: value relevance and determinants of valuation-related disclosures." Journal of Intellectual Capital 18, no. 4 (October 9, 2017): 832–67. http://dx.doi.org/10.1108/jic-12-2016-0136.
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Purpose Enhanced business reporting (EBR) seeks to address the information needs of investors when making company valuations for investment decisions. The purpose of this paper is to analyze the relevance for market valuation of EBR disclosures that are directly related to firm valuation (value-based reporting (VBR)). Design/methodology/approach Data are hand collected from annual reports of German publicly listed companies over five years. The content analysis is based on the valuation-related disclosure framework of the German Schmalenbach Society of Business Administration. A 2SLS approach accounts for potential endogeneity. Findings Share-based compensation, leverage, corporate size, and share volatility are significant determinants of VBR. The level of VBR is significantly associated with market values and provides additional market value explanatory power, indicating its relevance to investors in the process of valuation and decision making. Also, the relevance of book value and earnings for explaining market values increases for firms with better VBR. The findings are robust to the exclusion of banks and assurance companies and to alternative model and variable specifications. Research limitations/implications The research contributes to the literature on voluntary disclosures by testing an EBR framework explicitly derived from valuation theory. The results provide indirect evidence of the investors’ use of respective valuation techniques in decision making. A contribution is made to the value relevance literature by showing that valuation-related disclosures constitute a suitable proxy for “other information” in the Ohlson’s (1995) model. Such disclosures complement traditional accounting metrics, i.e. book value and earnings, as basis for valuations. Potential caveats relate to the content analysis of annual reports and the endogeneity of voluntary disclosures. Originality/value This paper informs the debate on further developments of EBR in helping to identify important components thereof.
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Shaikh, Omar. "On the relevance of higher-moments for portfolio-management within Islamic finance." International Journal of Islamic and Middle Eastern Finance and Management 13, no. 3 (June 10, 2020): 533–52. http://dx.doi.org/10.1108/imefm-11-2018-0388.
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Purpose Using a convenient tail-risk measure of performance, this paper aims to explore the extent to which incorporating higher statistical moments such as an assets skewness and kurtosis, provides further insight into the potential benefits of asset-class diversification within the realm of Islamic finance. Design/methodology/approach The authors use Engle’s (2002) DCC-GARCH model to study the dynamic conditional correlations between asset classes. Furthermore, the authors use the modified value-at-risk (Favre and Galeano, 2002), which incorporates higher statistical moments, to measure the performance of portfolios during both crisis and bullish regimes. Findings The most important finding relates to the estimation of portfolio tail-risk. In particular, the authors find that using a standard two-moment value-at-risk (VaR) measure, which assumes normally distributed returns, rather than a four-moment VaR, which incorporates an asset skewness and kurtosis, can lead to a substantial underestimation of portfolio risk during the most extreme market conditions. Originality/value This paper contributes to the extremely limited research considering higher-moments within the realm of Islamic portfolio-management. The results suggest that Islamic portfolio managers should remain cognisant of the skewness and kurtosis parameters of their assets. Ignoring higher-moments could induce misleading inferences and would, therefore, constitute imprudent risk-management.
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Benavides, Guillermo. "Asymmetric Volatility Relevance in Risk Management: An Empirical Analysis using Stock Index Futures." Revista Mexicana de Economía y Finanzas 16, TNEA (September 14, 2021): 1–18. http://dx.doi.org/10.21919/remef.v16i0.704.
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The objective of this research work is to show the relevance of asymmetries in estimating volatility. The methodology consists in the application of ARCH-type models and implied volatilities of options (IV) to estimate Value-at-Risk (VaR). These for a portfolio of stock index futures for various time horizons. The empirical analysis is carried out for the futures contracts for the Standard and Poors 500 and Mexican Stock Exchange Indices. According to the results, the IV model is superior in terms of precision compared to the ARCH-type models. It is recommended to use the relevant statistical gains when asymmetries are included with respect to when asymmetries are not used. The referred gains range from 4 to 150 basis points of minimum capital risk requirements. The originality of the present work consists of showing the importance of considering the asymmetric effects with IV and ARCH-type models in volatility forecasts within risk management analysis. It is concluded that the methodology means gains in monetary terms.
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Schrage, Stephanie. "Ethnografische Methoden in der Managementforschung." Der Betriebswirt: Volume 61, Issue 4 61, no. 4 (October 1, 2020): 195–203. http://dx.doi.org/10.3790/dbw.61.4.195.
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Abstract This paper deals with the subject of ethnographic methods and discusses them regarding their relevance in management research. Ethnographic methods describe longitudinal studies of well-defined communities that are based on direct observation and the researcher’s participation in the research context. The paper identifies ethnography as especially capable to study communities in their specific context, temporality, culture and complexity. However, the method is limited concerning generalization and value judgement, and requires time, effort, and willingness to deal with uncertainty. Considering these limitations, the paper concludes that ethnographic methods are of high relevance to management research in order to address inductive and theory-building research questions. Zusammenfassung Dieses Paper befasst sich mit ethnografischen Methoden und diskutiert ihre Relevanz in der Managementforschung. Die Ethnografie beschreibt Langzeitstudien, die auf direkter Beobachtung und Teilhabe der Forschenden am Forschungskontext basieren. Die Ethnografie wird als geeignet identifiziert, um Gemeinschaften in ihrem Kontext und ihrer Temporalität, Kultur und Komplexität zu beforschen. Als Limitationen der Methode lassen sich die erschwerte Generalisiertbarkeit, der hohe Studienaufwand und die Studienunsicherheit und die problematische Wertfreiheit festhalten. Das Paper schließt mit dem Fazit, dass die Ethnografie, unter Berücksichtigung der Limitationen, einen großen Beitrag zur Managementforschung leisten kann und insbesondere für induktive und theoriebildende Fragestellungen geeignet ist. Es lässt sich vermuten, dass die Methode vor Hintergrund der Globalisierung und Digitalisierung weiter an Bedeutsamkeit gewinnen wird, da diese die Komplexität von Forschungskontexten erhöhen.
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Amrial, Ahmad Mikail, and Tika Arundina. "Implementation of dual monetary policy and its relevance to inflation and unemployment in the Phillips curve context in Indonesia." International Journal of Islamic and Middle Eastern Finance and Management 12, no. 5 (November 11, 2019): 680–97. http://dx.doi.org/10.1108/imefm-11-2018-0398.
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Purpose Studies linking monetary policy to inflation and unemployment rates in the context of the Phillips curve are limited to conventional economics. On the other hand, research related to application of the dual monetary policy is limited to discussion of monetary policy transmission lines, especially in Islamic banking channels. Therefore, this study aims to determine the monetary policy response in implementation of the dual monetary policy to two important indicators in the macro economy, namely, inflation and unemployment. In addition, the study reveals the relevance of the Phillips curve in Indonesia. Design/methodology/approach The method used is vector auto regression vector autoregression (VAR) with monthly data from February 2005 to October 2016 for the first model and semi-annual data from February 2005 to August 2017 for the second model. Analysis of VAR estimation in this research uses the impulse response function (IRF) to analyze the degree of sensitivity or responsiveness to a shock between variables and the variance decomposition (VD) application to analyze how the proportion of each independent variable’s contribution affects the money supply. Findings The result shows that monetary policy has responded appropriately to the problems of inflation and unemployment. However, inflation generates a bigger response than unemployment. Bank Indonesia considers the inflation expectations aspect of both conventional and Islamic references. Finally, the concept of the Phillips curve proves to be irrelevant in Indonesia. Practical implications The central bank is expected to build a more effective policy for transmission from the monetary sector to the real sector to effectively overcome the problems of inflation and unemployment. Furthermore, Indonesia needs to increase policies to overcome problems on the supply side. Originality/value The results of this study provide new insights into application of the dual monetary policy toward inflation and unemployment.
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Hamilton, Lindsay, Nick Evans, and James Allcock. ""I don’t go to Meetings": understanding farmer perspectives on bovine TB and biosecurity training." Veterinary Record 184, no. 13 (January 7, 2019): 410. http://dx.doi.org/10.1136/vr.104995.
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In 2016, a veterinary service company, XL Farmcare UK, was awarded a Defra contract to manage a series of on-farm demonstration workshops to raise biosecurity awareness. The workshops provided free training for cattle farmers in England on the practical measures that they could take to limit the threat of bovine tuberculosis (bTB). Despite communicating these events to farmers, the number who subsequently attended them was low and the company decided to conduct research to seek explanation. Farmers were interviewed at agricultural shows, their comments analysed and the frequency of words in use were measured to produce a set of common themes. This thematic analysis provides an illustrative rather than representative picture of farmer opinions yet holds significant explanatory value for understanding the apparent lack of engagement with biosecurity training. Broad-ranging farmer perspectives can be understood through a ‘typology’ of feelings about bTB, particularly expressions of blame, loss, confusion, ignorance, resignation and fear. The cumulative effect amounts to one of overwhelming negativity, explaining why so many farmers disengaged from training provision; a finding with relevance and value for the way training providers plan future communication methods in relation to biosecurity risk mitigation.
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Kushnirenko, Оksana, and Olga Zarudna. "Opportunities for the integration of the Ukrainian industry into global value chains." University Economic Bulletin, no. 39 (December 20, 2018): 65–74. http://dx.doi.org/10.31470/2306-546x-2018-39-65-74.
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Relevance of the research topic is due to the impact of globalization which had brought an increasing number of more and more products pass through global value-added chains to reach the end users. That has led to new forms of transnational production, that gives new opportunities for Ukrainian producers. Formulation of the problem. The utilizing the opportunities and mitigating the negative impact of the liberalization of foreign trade makes new requirements for production oriented businesses in a more open and competitive international environment. The development of global production systems provides opportunities for participating in global value chains, that opens up new opportunities for the industry of Ukraine and requires further scientific researches. Analysis of recent research and publications. There are various dimensions to the development of global value chains of industry that need to be taken into account. The most important of these are P.Marsh, R.Kaplinski and Morris, K.Schwab, R.Rajk, D.Rodrik, E.Rajnert, S.Veber, P Labasta, G. Dzerffi, Geets VM, Vishnevsky AS, Deineko LV, Kizim NA, Kvasha TK, Lyashenko VI, Musina LA, Pyatnitsky VT, Sidenko V.R. and others. Selection of unexplored parts of the general problem. In the context of increasing influence of integration processes on the development of international trade and production, the problem of choosing the most effective ways of integration into global value chains for the processing industry of Ukraine as a reliable supplier of products with a higher degree of processing remains insufficiently studied. Setting the task, the purpose of the study. The objective of the article is to analyze the features of the formation of value added chains and ways of integrating them into the processing industry of Ukraine as a reliable supplier of products with a higher degree of processing. The purpose of the study is developing the proposals for possible constructive ways of promoting the integration of Ukrainian processing industry into global value-added chains. Method or methodology for conducting research. This paper used of general scientific: abstract-logical, induction and deduction, systemic approach; analysis, and synthesis and special scientific research methods: statistical comparisons, grouping, sampling; structure-functional analysis, expert judgments. Presentation of the main material (results of work).The existing approaches to the definition of the notion of value added chains are disclosed and their grouping is carried out on significant grounds; The features and modern trends in the development of global value chains in the processing industry are explored; The opportunities and the existing risks have been identified in the chain of value added for the developing countries; and substantiated practical recommendations for choosing the most effective ways of integration into global value chains for the processing industry of Ukraine as a reliable supplier of products with a higher degree of processing. The field of application of results. The results of this research can be applied in the process of formation and implementation of Ukraine's integration industrial policy. Conclusions according to the article. In the article authors was made in assessment of the integration of Ukrainian manufacturing companies into global value chains. The adoption of effective tools and instruments for encouraging the entry of Ukraine's processing industry into global value chains provides for the creation of effective policies and institutions, aimed at eliminating restrictions in the the Ukrainian producers integration into international production networks.
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Urazbaeva, Alina, Valentin Voytenkov, and Rogneda Groznykh. "The analysis of COVID-19 impact on the internet and telecommunications service sector through modelling the dependence of shares of Russian companies on the American stock market." R-Economy 6, no. 3 (2020): 162–70. http://dx.doi.org/10.15826/recon.2020.6.3.014.
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Relevance. The coronavirus pandemic has both negative and less obvious positive effects on the world economy. In order to better understand these processes, it is necessary to examine the sectors that have shown growth against the general decline in production. Such sectors include the Internet and telecommunication services. Research objective. The purpose of this study is to model the impact of the pandemic and foreign companies on the value of shares of Russian tech companies. Data and methods. The study involves daily share price data of such American corporations as Google, PayPal, Netflix, Adobe, and the Russian company Yandex. Moreover, we used the dummy variable Covid-19. The econometric analysis was conducted by using vector autoregression (VAR). The direction of cause-and-effect relationships was investigated with the help of the Granger test, and the effect of single shocks, through impulse response functions (IRF). Results. A stable VAR model was built. The IRF graphs were used to describe the impact of the pandemic and the value of US. companies on Russian companies. Conclusions. The study shows that the 2020 pandemic has proven to be a positive shock for companies in the ICT sector, contributing to increased demand for their services and market capitalization. The pandemic has affected both Russian and foreign companies. The study has also found the influence of the American stock market on share prices in Russia. Russian companies reacted to changes in the American stock market with a lag of up to 10 days.
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Ushakova, O. V., A. V. Molchanova, and L. L. Bondareva. "Content of biologically active substances in seedlings of cabbage of the genus Brassica L." Vegetable crops of Russia, no. 1 (March 5, 2021): 96–104. http://dx.doi.org/10.18619/2072-9146-2021-1-96-104.
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Relevance. Photosynthetic seedlings, as a model object, are interesting both in the study of nutritional value and the species response of a plant organism to the cultivation.Material and methods. The study was carried out on the basis of the laboratory analytical department of the FSBSI FSVC. The material of the research was sprouts of Brassica chinensis L., cv. Vesnyanka; Brassica oleraceae L. var. italica Plenck, cv. Tonus; Brassica oleracea L. convar. acephala DC., cv. Malinovka; Brassica oleracea var. gongylodes L., hybrid F1 Sonata and cv. Venskaya Belaya 1350; Brassica oleracea L. convar. capitata (L.) Alef. var. capitata L. f. rubra (L.) Thell., cv. Gako 741. The seeds of the 2018 harvest were germinated in filter paper cassettes using distilled water. The cassettes with seeds were placed in a thermostat under constant illumination and a temperature of 25°C. They have been germinated for 8 days, after which a biochemical analysis of the samples was carried out.Results. It was found out that the total content of water-soluble antioxidants in the studied of cabbage crops was in the range of concentrations from 3.58-4.57 mg-eq HA/g (wet weight). According to this indicator of 8-day-old seedlings, red cabbage variety Gako 741 was distinguished by the maximum values. The total content of antioxidants in the alcoholic extract ranged from 21.24 to 28.23 mg-eq HA/g (dry weight). The content of polyphenols – in the concentration range of 16.39-24.94 mg-eq of HA/g (dry weight). As a result of the research, direct correlations of the studied characteristics were revealed. A high correlation was shown between the content of water-soluble antioxidants and dry matter (r=0.72...0.98) and between the content of carotenoids and chlorophylls (r=0.98...0. 99).
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Solovyeva, Alla E., Tatiana V. Shelenga, and Anna M. Artemyeva. "The metabolomic approach to the complex biochemical characteristics of cole Brassica oleracea L." Vegetable crops of Russia, no. 4 (September 7, 2019): 72–79. http://dx.doi.org/10.18619/2072-9146-2019-4-72-79.
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Relevance A commonly cultivated and demanded type of vegetable crops – cabbage Brassica oleracea L. – in the process of evolution and domestication was divided into three clusters: leafy cabbage, headed cabbage and broccoli (cauliflower). According to modern data, cabbage originated in culture from the large-leaved forms of leafy cabbage. Portuguese tronchuda is a transitional form to a typical headed cabbage. It is represented by leafy and semi-capped forms and evolutionarily related to Portuguese halega (Galician) leafy cabbage. White cabbage (Brassica oleracea L. convar. capitata (DC.) Alef. var. capitata L. f. alba DC.) is the most significant in the world and Russian economy. The characteristic of cultures of Brassica oleracea L. (varieties of white cabbage and tronchuda) is given according to the most important biochemical quality characteristics. Methods The research material included 48 samples of cabbage, including 27 samples of 13 European cultivar types, including Dutch, Central European and South European cultivar types, 8 samples – two Russian northwestern and central Russian cultivar types and 13 samples – five oriental cultivar types of Caucasian and Turkish-Balkan origin, 9 samples – Portuguese cabbage tronchuda from the VIR collection, reflecting the ecological, geographic and genetic diversity of cabbage. Samples of cabbage were grown at the research and production base "Pushkin and Pavlovsk laboratories VIR" (St. Petersburg), biochemical analysis was carried out in the laboratory of biochemistry and molecular biology of VIR. Results As a result of using of the modern non-specific metabolic approach to the study of the biochemical composition in samples of white cabbage, about 100 components have been identified from the groups of organic acids, free amino acids, including essential, fatty acids, including essential, polyhydric alcohols, sugars, and also phenolic compounds, wax, nucleosides, and others. Regularity in the accumulation of nutrient and biologically active substances by cultures of Brassica oleracea L., by cultivar types and individual samples were revealed. As a result of our research using modern techniques, including the nonspecific metabolic approach, new data on the biochemical composition of white and semi-capped forms were obtained. The cabbage within the studied botanical varieties and groups of cultivar types has a complex biochemical composition that characterizes cabbage samples as samples with potentially high value (the role and importance of far from all compounds in the organization of healthy human nutrition is known), which confirms the need for in-depth control of the biochemical composition of plants when breeding new varieties. Samples with the optimal component composition for balanced human nutrition, which are proposed to be used in breeding for quality, including obtaining varieties for healthy (functional) and therapeutic and prophylactic nutrition of the population of theRussian Federation were found.
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Fateev, D. A., A. E. Solovyeva, T. V. Shelenga, and A. M. Artemyeva. "Complex biochemical characteristics of broccoli and cauliflower." Vegetable crops of Russia, no. 6 (December 26, 2020): 104–11. http://dx.doi.org/10.18619/2072-9146-2020-6-104-111.
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Relevance. A commonly cultivated and demanded type of vegetable crops – cabbage Brassica oleracea L. – in the process of evolution and domestication was divided into three clusters: leafy cabbage, headed cabbage and broccoli (cauliflower). According to modern data, Broccoli was developed by hybridization from collard greens and is the genetic precursor to cauliflower. Broccoli and cauliflower have a valuable biochemical composition and are recommended for daily consumption. The characteristic of cultures of Brassica oleracea L. (broccoli and cauliflower) is given according to the most important biochemical quality characteristics. Material and methods. The research material included 30 accessions of broccoli and 35 accessions of cauliflower from the VIR collection, reflecting the ecological, geographical and genetic diversity. Accessions were grown at the research and production base "Pushkin and Pavlovsk Laboratories VIR" (St. Petersburg), biochemical analysis was carried out in the laboratory of biochemistry and molecular biology VIR using gas chromatography/mass spectrometry. Results. The characterization of Brassica oleracea L. species (broccoli and cauliflower) is given according to the main most important biochemical quality characteristics. As a result of using of the modern gas chromatography/mass spectrometry approach to the study of the biochemical composition in samples of broccoli and cauliflower, about 136 components have been identified from the groups of organic acids, free amino acids, including essential, fatty acids, including essential, polyhydric alcohols, sugars, and also phenolic compounds, nucleosides, and others. Regularity in the accumulation of nutrient and biologically active substances by cultures of Brassica oleracea L., by cultivar types and individual samples were revealed. As a result of our research using modern techniques new data on the biochemical composition of broccoli and cauliflower were obtained. B.oleracea within the studied botanical varieties and cultivar types has a complex biochemical composition that characterizes them as accessions with potentially high value, which confirms the need for indepth control of the biochemical composition of plants when breeding new varieties. Accessions with the optimal component composition for balanced human nutrition, which are proposed to be used in breeding for quality, including obtaining varieties for healthy (functional) and therapeutic and prophylactic nutrition of the population of the Russian Federation were found.
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Liow, Kim Hiang, and Felix Schindler. "Linkages between office markets in Europe: a volatility spillover perspective." Journal of Property Investment & Finance 35, no. 1 (February 6, 2017): 3–25. http://dx.doi.org/10.1108/jpif-02-2016-0010.
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Purpose Using a data set comprising 16 European office markets provided by the DTZ Research Institute from Q1 2003 to Q4 2013, the purpose of this paper is to measure the strength of the unconditional transmission of volatility in the returns to direct property between 16 European office markets with the objective of determining the degree of unconditional spillover between markets. Design/methodology/approach To examine volatility spillovers across the 16 office markets, the authors adopted the generalized VAR methodology, variance decomposition and the generalized spillover index of Diebold and Yilmaz (2012) by measuring cross-office market volatility transmission in asset pricing through estimates of several “volatility spillover indices.” Findings Volatility spillovers are important and time-varying across the leading office markets, with cross-market volatility interaction being bi-directional and of relative endogenous nature for many markets. The London office market is the “volatility leader” and has exerted significant net volatility influence on the other markets. Additionally, the volatility spillovers between business cycle fluctuations and asset market cycle volatilities are linked across some European economies. Research limitations/implications Evidence of co-integration among the domestic volatility spillover cycles implies the presence of unobserved common shocks and might not be good news for international investors who pursue diversification strategies in European office real estate markets. Originality/value No previous study has addressed formally the measurement and assessment of the nature and intensity of volatility spillovers across direct office markets on such a broad range of European office markets. The relevance of the topic has been even increasing over the previous years as more and more investors seek for flexibility and participation in the investment process and asset management.
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Tulinov, A. G., and T. V. Kosolapova. "Productivity and parameters of adaptability of collection specimens of the cocksfoot." Agrarian science, no. 2 (April 10, 2022): 76–79. http://dx.doi.org/10.32634/0869-8155-2022-356-2-76-79.
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Relevance. The cocksfoot (Dactylis glomerata L.) remains an agricultural crop of high fodder value for the Komi Republic, grown both in pure form and as one of the components in grass mixtures. This forage grass is recommended for use in hayfields and pastures, being high-yielding, retaining for a long time in grass mixtures, growing quickly after mowing and grazing.Methods. In the collection nursery of the Institute of Agrobiotechnology named A.V. Zhuravsky of the Komi Scientific Center of the Ural Branch of the Russian Academy of Sciences (Komi Republic, Syktyvkar), from 2016 to 2018, promising populations of cocksfoot of various ecological and geographical origin were studied by economic characteristics and parameters of adaptability, obtained from the world collection of Federal research center «N.I. Vavilov all-Russian Institute of Plant Genetic Resources – VIR»: 11 from the Northwestern Federal District of Russia (Komi Republic, Arkhangelsk, Pskov and Leningrad regions), 3 from the Ural Federal District (Tyumen and Sverdlovsk regions), 1 from the Siberian Federal District (Tomsk Region), 4 foreign samples from Northern Europe (Norway, Finland) and North America (Canada). The purpose of the research is to evaluate the yield indicator of green mass of specimens of cocksfoot in the collection nursery, to establish the parameters of adaptability and, on their basis, to select the most promising numbers for further breeding work. During the growing season during the years of research, various meteorological conditions were noted, which reflected the unstable nature of the fallout and distribution of precipitation, which made it possible to comprehensively evaluate the specimens of the cocksfoot and give them a more objective assessment based on the prevailing external environmental conditions.Results. As a result of research, it was found that according to a set of economically valuable parameters, specimens 45945, 47268 and 41826 were identified with a yield of green mass on average for two cuttings of 205–237 c/ha. Based on the obtained parameters of adaptability, specimens 36684, 47268, 33392 are classified as the most stable and plastic ones, which represent a valuable source material for further study and breeding work.
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Kosova, Т., S. Smerichevskyi, А. Ivashchenko, and H. Radchenko. "THEORETICAL ASPECTS OF RISK MANAGEMENT MODELS IN ECONOMICS, MARKETING, FINANCE AND ACCOUNTING." Financial and credit activity: problems of theory and practice 3, no. 38 (June 30, 2021): 409–18. http://dx.doi.org/10.18371/fcaptp.v3i38.237474.
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Abstract. The relevance of the study is determined by the objective need to model the processes and results of business entities in conditions of the internal and external environment uncertainty in order to identify and reduce risks. The aim of the research is to make systematization of the risk sources and its main types inherent in Economics, Marketing, Finance and Accounting, as well as to develop recommendations for the use of Risk Management Models. The source of information was the International Organization for Standardization Guidelines, International Financial Reporting Standards, Directives of the European Parliament and the Council, scientific articles. Research methods are: system approach, formalization, theory of risk and modeling, analysis and synthesis. The main scientific result is to generalize the principles, structure, processes, sources of risks, approaches to its modelling, monitoring, quantification, reflection in accounting and reporting. The content and purpose of Risk Management Models, requirements to the information base and methods of their construction, approaches to description, practical application and validation were formalized. Such Risk Management Models as: reflexive, simulation, scenario, Value-at-Risk (VAR), Expected Shortfall (ES), SWOT-analysis, gap-management were considered in details. Authors’ contribution is mainly focused on the improvement of the modelling process based on the recommendation to apply an additional stage-model risk assessment, which will improve the quality of Risk Management Models and their further application. The practical significance of the obtained results is to increase the efficiency of economic, marketing, financial decision-making on the basis of Risk Management Models in conditions of uncertainty.
Keywords: risk, management, model, economics, marketing, finance, accounting.
JEL Classifications C50, D81, G32, M00, O21
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Dreher, M., L. Wojnowski, D. Tibyampansha, A. Hilt, and A. Schwarting. "AB1299-HPR THE RHEUMA-VOR APP: OPTIMIZING THE EARLY DIAGNOSIS OF RHEUMATIC DISEASES." Annals of the Rheumatic Diseases 79, Suppl 1 (June 2020): 1940.1–1940. http://dx.doi.org/10.1136/annrheumdis-2020-eular.5646.
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Background:The proof-of-concept network study “Rheuma-VOR” aims to improve the quality of rheumatological care through coordinated cooperation. In particular, rheumatic diseases should be diagnosed as early as possible and treated quickly in a targeted manner [3]. Smartphone apps have a potential to improve the management of chronic diseases. For example, they can be used to provide health information, or to offer self-monitoring and self-screening options [1, 2].Objectives:The Rheuma-VOR Screening-App study examines whether a smartphone-based app can increase the detection rate of the three most common chronic inflammatory rheumatic diseases: rheumatoid arthritis, psoriatic arthritis and spondylarthritis.Methods:Based on the multi-stage Delphi Procedure, a minimal list of questions for detection and differentiation between the three diseases was defined. The app for iOS and Android is in use since October 2018 during the screening consultation at the Division of Rheumatology and Clinical Immunology and at the ACURA Center of Rheumatology Rhineland-Palatinate. An additional validation will be performend with a non-preselected cohort based on the data of the Rheuma Bus Tour 2019.Results:The Delphi Procedure identified 17 questions, including four laboratory parameters. They have been deployed in German as a smartphone app. The questions are read to the patient and can be answered with “YES”, “NO”, or “I DO NOT KNOW”. Answering the questions takes approximately four minutes. The suspected diagnoses are based on a cumulative score. Some diagnoses are excluded or confirmed already after a few questions.To date (31 Dec 2019), the app has been used on 466 patients. The sensitivity is 0.91, while the specificity is 0.25. The positive predictive value and the negative predictive values are 0.60 and 0.32, respectively. The false positive value is 0.33 and the false negative value 0.05.Conclusion:The Rheuma-VOR App helps doctors and patients to invalidate or to confirm the suspicion of a possible rheumatic disease. Data from the cohort is currently analyzed to increase the screen’s specificity. The additional validation, based on a non-preselected cohort collected during the Rheuma Bus Tour 2019, is in progress. A final validation concept is currently being developed.In 2020, a section with the most important information about the aforementioned three diseases will be added. The section will include definition, etiology, prognosis, symptoms, therapeutic principles, medication and case studies.Current data will be presented at the conferenceReferences:[1]Kuijpers W, Groen WG, Aaronson NK et al. (2013) A systematic review of web-based interventions for patient empowerment and physical activity in chronic diseases: relevance for cancer survivors. Journal of medical Internet research 15:e37[2]Payne HE, Lister C, West JH et al. (2015) Behavioral functionality of mobile apps in health interventions: a systematic review of the literature. JMIR mHealth and uHealth 3:e20[3]Schwarting A (2018) From ADAPTHERA to Rheuma-VOR: Concept of Coordinated Cooperation to Improve the Quality of Rheumatology Care Akt Rheumatol 43 (05): 406-409Acknowledgments:The authors thank all partners and participants of Rheuma-VORDisclosure of Interests:None declared
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Shah, Vandna, Maria Roman-Escorza, Karen Clements Clements, Lennart Mulder, Esther H. Lips, Jelle Wesseling, Sarah Pinder, Alastair M. Thompson, and Elinor J. Sawyer. "Abstract A016: Identification of methylated regions in ductal carcinoma in situ and association with disease progression." Cancer Prevention Research 15, no. 12_Supplement_1 (December 1, 2022): A016. http://dx.doi.org/10.1158/1940-6215.dcis22-a016.
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Abstract Background: The advent of breast screening has led to a 4-fold increase in the diagnosis of ductal carcinoma in situ (DCIS). Studies following the clinical outcomes of patients show variable progression free survival rates, with only up to 35% of patients progressing to invasive disease without treatment. This highlights the need to find a biomarker to accurately predict which DCIS lesions will recur as invasive tumors. Epigenetics changes are events which occur early in tumorigenesis, this makes DNA methylation a potential biomarker of DCIS progression. However, a lack of DCIS methylation profiling with long term follow-up data exists. This study investigates genome-wide methylation profiles in women with primary DCIS and associates the data with their overall recurrence free survival. Methods: DCIS was macrodissected from 89 formalin-fixed paraffin embedded (FFPE) to extract tumor enriched DNA from patients with DCIS and long term follow up. 39 women had developed an ipsilateral invasive recurrence (classified as cases) and 50 had no evidence of recurrent disease (classified as controls). Genome wide methylation was assessed using the human methylation EPIC BeadChip which, interrogates over 850,000 methylation sites. Data was assessed for quality both at the sample and probe level by the wateRmelon. Further analysis was performed in ChAMP to identify differentially methylated regions (DMR) and by DMRcate packages in R to identify variably methylated regions (VMR). Genes annotated in the most significant VMRs were analysed through Metascape, a web-based tool to perform functional gene set enrichment analysis (GSEA). A cox proportional hazards model was used to calculate the association between the methylation of the VMRs and recurrence free survival. This model was adjusted for DCIS receptor status and grade. Results: 59 samples passed data quality assessment (35 controls and 24 cases). 10 differentially methylated regions were identified. The most significant of which, was a hypomethylated region on chromosome 4, containing CDKL2 (p = 0.001), known to promote the epithelial-mesenchymal transition in breast cancer progression. 5813 VMRs were identified across the genome, (P-value range between 0 and 10-321). 82% of the VMRs aligned to the body of the gene or the surrounding regulatory features. GSEA revealed that VMRs were predominantly involved in pathways involved in cell adhesion (GO:0007156) Assessment of the significant VMRs by COX proportional hazards model showed that a VMR on chromosome 6p was associated with the development of invasive disease after adjusting for oestrogen receptor, human epidermal growth factor 2 status and grade (p=0.001). Conclusions: This preliminary study shows altered sites of methylation could be observed across the genome, in DCIS. The function of the VMRs is currently being investigated to understand how methylation in this region predisposes to invasive recurrence of DCIS. Correlation of methylation status and RNA expression data will be used to understand the biological relevance. Citation Format: Vandna Shah, Maria Roman-Escorza, Karen Clements Clements, Lennart Mulder, Esther H. Lips, Jelle Wesseling, Sarah Pinder, Alastair M. Thompson, Elinor J. Sawyer. Identification of methylated regions in ductal carcinoma in situ and association with disease progression [abstract]. In: Proceedings of the AACR Special Conference on Rethinking DCIS: An Opportunity for Prevention?; 2022 Sep 8-11; Philadelphia, PA. Philadelphia (PA): AACR; Can Prev Res 2022;15(12 Suppl_1): Abstract nr A016.
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Florenzcia, Yolanda, Juniarti Juniarti, and Yulius Jogi Christiawan. "Value Relevance, Sustainability Reporting Award, and Board Structure: An Influence and Analysis of Value Relevance." Binus Business Review 13, no. 2 (July 15, 2022): 171–81. http://dx.doi.org/10.21512/bbr.v13i2.7853.
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Research on the relevance of the value of sustainability reporting as measured by the Sustainability Reporting Award (SRA) in Indonesia is still rarely studied. In Indonesia, many go-public companies have not realized the importance of reporting the environment and succeeded in getting the SRA due to the costs incurred in carrying out sustainability reporting activities in accordance with Global Reporting Initiative (GRI). The research examined whether there was value relevance in sustainability reporting information and a role for the board structure in supporting companies to obtain awards or not. The research was conducted with six-year data, with a sample of 29 companies that had received SRA at least once from 2014 to 2019. Then, Ohlson’s model was used to measure the value relevance of accounting information and SR, which was seen through changes in R2. Board structure was proxied with board size, board independence, and board meeting. The test was conducted using SmartPLS. The research results indicate that information on obtaining the SRA does not have the added value relevance, as evidenced by the R2 value. It does not increase and has an insignificant relationship with stock prices. Meanwhile, the board structure that can influence the company in obtaining the SRA is only the independence of the board. The research contributes to showing the value relevance of accounting information and sustainability reporting observed through SRA in Indonesia. Besides that, observing the roles of board structure encourages sustainability reporting of a company in acquiring an SRA.
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Ertuğrul, Melik. "How Should the Value Relevance Research Employ Book Value of Equity." Journal of Business Research - Turk 12, no. 2 (June 24, 2020): 2031–39. http://dx.doi.org/10.20491/isarder.2020.960.
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Stolpivskaya, Evgeniya V. "Spring barley initial forms for breeding on productivity in the Middle Volga region’s conditions." Agrarian science, no. 11-12 (January 20, 2021): 72–75. http://dx.doi.org/10.32634/0869-8155-2020-343-11-72-75.
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Relevance. Evaluation of initial forms for breeding is one of the stages of the selection process. The global gene pool of spring barley (Hordeum vulgare L.) is replenished annually with hundreds of new varieties containing a different combination of genes. In this regard, it is relevant to constantly study accessions of different geographical origins according to various criteria, including productivity indicators. The research was conducted to identify genotypes for creating a new highly productive breeding material for spring barley.Methods. The objects of study were 59 accessions of spring barley (Hordeum vulgare L.), represented by forms from Russia, CIS countries, Europe and the USA. The study of the initial forms was carried out according to The guidelines for the study of the collection of barley and oats (VIR, 1981).Results. As a result of the study of the spring barley initial material in condition of the Samara region (Kinel) in 2017-2019, 22 varieties were identified that are characterized by consistently high values of productivity indicator: Signal (K-30846, Altai region), Anna (K-30829, Orenburg region), T-12 (K-30990, Orenburg region), Lun’ (K-31101, Penza region), Vityaz (Samara region) — by the value of the indicator “weight thousand grain” above 40 g, recommended as sources for creating breeding material with high values of this criterions. The following varieties are recommended as sources for breeding work to increase the weight of 1000 grains, productive bushiness and plant productivity in the Middle Volga region: Veles (K-30982, Belgorod region), Volgar (K-29831, Samara region), Orlan (Samara region), Omsky 90 (K-30721, Omsk region) and Sasha (K-31110, Omsk region), Charivny (K-31063, Ukraine), KWS Tessa (Germany), AC 06/659/48/2 (Denmark), local (K-9267, Turkey).
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Liu, Chelsea, Graeme Gould, and Barry Burgan. "Value-relevance of financial statements." International Journal of Managerial Finance 10, no. 3 (May 27, 2014): 332–67. http://dx.doi.org/10.1108/ijmf-02-2011-0016.
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Purpose – The Chinese capital markets are divided into two segments comprising of A-shares (traded by domestic investors) and B-shares (traded by foreign investors). Firms issuing A-shares are required to produce accounting reports under the Chinese Accounting Standards (CAS) and firms issuing B-shares are required to report under the International Accounting Standards (IAS). The purpose of this paper is to investigate the comparative value-relevance of accounting information in the Chinese capital markets, in particular whether the value-relevance associated IAS exceeds that of CAS. Design/methodology/approach – This study undertakes a capital market research approach. Two statistical models are employed to test the value-relevance of competing accounting information on share prices: the Price Model and the Return Model. This study takes advantage of the parallel reporting frameworks governing the A-share and B-share markets buy using the same firms which issue both A-shares and B-shares. Findings – The analysis supporting the study demonstrates that both CAS and IAS information is value relevant to investors in the Chinese capital markets but that IAS provide more useful information. Additionally it is observed that reconciliation variables (representing the discrepancy between IAS- and CAS-based accounting figures) are not significant in explaining market valuation or returns on stock. Research limitations/implications – This study provides evidence of value-relevance of accounting reports on the Chinese capital markets for the period of 1999-2005. The period under investigation captures the significant development in China's accounting regulations which took place in 1998 and 2001. The recent shift in accounting regulations in China from CAS to IAS is expected to improve the dissemination of financial information by publicly listed Chinese firms. Practical implications – This study investigates the reporting requirements on the Chinese capital markets during a period in which accounting reporting requirements underwent a significant change as part of the internationalization of accounting standards. Both A- and B-share markets were investigated simultaneously in order to provide an objective analysis and avoid sampling selection bias present in other studies. Social implications – The recent shift in accounting regulations in China from CAS to IAS is expected to improve the dissemination of financial information by publicly listed Chinese firms. Originality/value – This paper extends previous research on value-relevance of accounting reports in the Chinese capital markets by capturing the period in which the reporting requirements had experienced significant change. This paper also takes advantage of the dual reporting framework in order to mitigate potential sampling bias present in previous studies and employs a reconciliation variables not previously used.
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Ojaghi, Sama, Majid Moradi, and Davood Gorjizadeh. "The relationship of accounting comparability between the profit value relevance and book value." Technium Sustainability 1, no. 1 (October 18, 2021): 71–80. http://dx.doi.org/10.47577/sustainability.v1i1.4977.
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This research tries to investigate the comparability between the profit value relevance and book value of the listed firms in Tehran Stock Exchange. The research sample was selected by using the systematic removal sampling method by applying the research variable, 138 variables, during 2012-2019. Furthermore, this research has two hypotheses. This research is applied and the method is correlational based on nature and content. The research was conducted in the framework of deductive-inductive reasoning and panel analysis was used to analyze the hypotheses. The results of hypothesis testing showed that value relevance of profit and value relevance of book value increase with accounting comparability. Youtube link: https://youtu.be/lGbO2Co0Tyk
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Hu, Lishuan, Caihong Xiang, and Chengming Qi. "Optimization of VRR for Cold Chain with Minimum Loss Based on Actual Traffic Conditions." Wireless Communications and Mobile Computing 2021 (December 10, 2021): 1–10. http://dx.doi.org/10.1155/2021/2930366.
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Recently, fresh agricultural cold-chain logistics have been greatly developed with the increasing needs of people’s life. Reducing costs of cold-chain distribution has become the main object of loss control in logistics enterprises. The objective of this research is to find a set of optimal routes that minimize the total loss, including fuel cost, refrigeration cost, soft time window penalty cost, and cargo damage cost over transit time. In this paper, the definition and model construction of vehicle routing problem (VRP) with multiobjective minimum lost are introduced first. Then, an ant colony optimization (ACO) algorithm combined with Pareto local search (PLS) is put forward to solve the minimum loss model. In order to avoid the influence of complex road conditions during distribution, the distance matrix and the transit time matrix are both derived from the recommended navigation road based on E-map API. At last, a compare experiment between the traditional method and our proposed method is performed. The results indicate that our method has strong applicability and potential advantages in cold-chain logistic and has important practical significance and application value.
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Kouki, Ahmed. "IFRS and value relevance." Journal of Applied Accounting Research 19, no. 1 (February 12, 2018): 60–80. http://dx.doi.org/10.1108/jaar-05-2015-0041.
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Purpose The purpose of this paper is to compare the value relevance of accounting information between International Financial Reporting Standards (IFRS)-firms and non-IFRS-firms over five years before mandatory IFRS adoption from 2000 to 2004 and six years after IFRS adoption from 2006 to 2011. Design/methodology/approach The sample includes 1166 firm-year observations that cover firms from three Europeans countries. Different econometric tests, multivariate and panel regressions have been used to verify the hypotheses. Findings In the pre-IFRS period, voluntary IFRS adoption did not improve the value relevance of accounting information. The results indicate that the information contents of non-IFRS-firms in the post-adoption period have higher quality than in the pre-adoption period. The findings show a higher association between accounting information, stock prices and stock returns over both periods, however, the difference in results is not statistically significant. Research limitations/implications This study was not generalized to other stock exchanges that have a significant weight in the European Union, such as the FTSE 100 companies or the SP/MIB. Practical implications This study has some implications for standards setters, firms and practitioners. The transition to IFRS reduces the diversity of accounting systems and institutional conditions (capital market structure, Taxation systems). In addition, mandatory IFRS adoption engendered changes in firms’ business and organizational models that led accountants to improve their educational and training programs. Originality/value This paper contributes to the value relevance as well as IFRS literature by using a sample from code-law origin countries that switched from a debt-oriented system to shareholder-oriented system. It offers a comparative approach between IFRS-firms and Non-IFRS-firms in the pre- and post-adoption periods. In contrast, prior studies focused on the comparison during only one period. This empirical evidence should be of interest to investors and policymakers in other markets.
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Tsalavoutas, Ioannis, and Dionysia Dionysiou. "Value relevance of IFRS mandatory disclosure requirements." Journal of Applied Accounting Research 15, no. 1 (May 6, 2014): 22–42. http://dx.doi.org/10.1108/jaar-03-2013-0021.
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Purpose – The purpose of this paper is to address recent calls for research regarding the valuation implications of mandatory disclosure requirements (cf. Hassan et al., 2009; Leuz and Wysocki, 2008; Schipper, 2007). Design/methodology/approach – The paper measures compliance with all International Financial Reporting Standards (IFRS) mandatory disclosure requirements for a sample of firms. The paper subsequently explores whether the compliance scores (i.e. the mandatory disclosure levels) are value relevant and whether the value relevance of accounting numbers differs across high- and low-compliance/disclosure companies. Findings – The paper finds that the levels of mandatory disclosures are value relevant. Additionally, not only the relative value relevance (i.e. R2) but also the valuation coefficient of net income of high-compliance companies is significantly higher than that of low-compliance companies. Research limitations/implications – This paper is an indicative single country case study that focuses on the IFRS adoption year (2005) in the EU. It forms a new avenue for research regarding the valuation implications of mandatory disclosure requirements. It remains to future research to examine whether the findings also hold in other countries and periods. Practical implications – These findings are expected to be particularly relevant to standard setters and regulatory bodies that are concerned about the implications of mandatory disclosure requirements (Schipper, 2007). Originality/value – To the best of authors’ knowledge, this is the first paper that examines the value relevance implications of IFRS mandatory disclosure requirements, focusing on European country after 2005. The authors indicate that IFRS mandatory disclosures do lead to more transparent financial statements (cf. Pownall and Schipper, 1999), mitigating concerns about companies’ fundamentals (cf. Anctil et al., 2004).
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Lambert, Douglas M. "Rediscovering relevance." International Journal of Logistics Management 30, no. 2 (May 13, 2019): 382–94. http://dx.doi.org/10.1108/ijlm-02-2019-0059.
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Purpose The purpose of this paper is to document the growing concerns about the lack of relevance of business school research, and offer suggestions for journal editors and faculty members in logistics and supply chain management. Design/methodology/approach This paper is a review of literature related to the relevance of business school research and an analysis of trends related to the editorial review boards of the three main logistics journals. Findings The current business school research model is unsustainable. The metrics used are driving the wrong behavior. Logistics journals, traditionally known for an emphasis on practical relevance, appear to be emulating the journals of other business functions at a time when there is a growing consensus that these journals are publishing, more often than not, research of little or no value to practicing managers or society. Practical implications The cost of faculty research at AACSB schools, which increasingly benefits no one but the authors, has been estimated at roughly US$3.8bn annually. Imagine the potential benefits if business school deans realigned the incentives to encourage faculty to produce credible research that is useful to business and society. Originality/value The hope is to influence senior logistics faculty with tenure to work with business executives or policymakers to identify long-term big idea projects that will impact business and society, and publish their research in the logistics journals. Traditionally, the editors of logistics journals included business executives on the editorial review boards and encouraged research of practical relevance. Journal editors should look back and realize what was good about the journals and not discard the good for current fads.
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Won, Jayoun, and Sang－Lyul Ryu. "Accounting for Research and Development Expenditures and Its Value Relevance." Korea Association of Business Education 33, no. 3 (June 20, 2018): 99–116. http://dx.doi.org/10.23839/kabe.2018.33.3.99.
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Turner, R. K., W. N. Adger, and R. Brouwer. "Ecosystem services value, research needs, and policy relevance: a commentary." Ecological Economics 25, no. 1 (April 1998): 61–65. http://dx.doi.org/10.1016/s0921-8009(98)00018-4.
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Avwokeni, Arthur Joseph. "On the value relevance argument." Journal of Financial Reporting and Accounting 16, no. 4 (December 3, 2018): 660–76. http://dx.doi.org/10.1108/jfra-02-2017-0012.
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PurposePotential investors need information on corporate social issues to choose less risky investments, but the IASB framework excludes corporate social disclosure from financial reporting, and this corroborates Ohlson (1995) and Myers’ (1999) view that financial statements do not provide all domain variables to predict value relevance. The purpose of this study is to ascertain whether market participants place a premium on the future prospect of the firm when making investment decisions, and if they do, then Ohlson and Myers are correct, and this would be glaring evidence to recommend a rethink on the IASB reporting framework.Design/methodology/approachNigeria provides a realistic research setting to detect value relevance attributable to the IFRS because it is less affected by the 2007/2008 financial crisis. The price model was estimated for Nigerian domestic accounting standards and the International Financial Reporting Standards (IFRS). The means for each predictor were plugged into each estimated equation to obtain the average value relevance of each financial reporting system. Then, the IFRS accounting policies were made to play by the rules of the domestic accounting standards. If, in fact, accounting information is the dominant factor that drives value relevance, then equalizing backgrounds should equalize value relevance, otherwise market participants place a premium on the future prospect of the firm.FindingsThe study detects,inter alia, a significant gap even after equalizing backgrounds, suggesting that market participants look beyond the financial statements in forming perceptions on the future prospect of the firm; e.g. relationship with host communities, development stages of new products in their life cycles, etc.Practical implicationsThe findings ring a bell for the IASB to include metrics of future prospect of the firm in corporate financial reporting so that investors can choose less risky investment portfolios. Furthermore, the findings lend support to Ohlson and Myers’ argument that financial statements do not provide all domain variables to predict value relevance.Originality/valueTo date, no study has reported the amount of value relevance attributable to the IFRS vis-à-vis domestic accounting standards and future prospect of the firm.
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Berzegova, A. A., and Yu А. Sapiev. "Results of the study of collection specimens of common bean (<i>Phaseolus vulgaris L.</i>) in the foothill zone of the Northwestern Caucasus." Agrarian science, no. 6 (July 30, 2022): 80–85. http://dx.doi.org/10.32634/0869-8155-2022-360-6-80-85.
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Relevance. The study of collection samples of the common bean (Phaseolus vulgaris L.) in order to identify among them the most adapted to local conditions and designate economically valuable traits in the foothill zone of the North-Western Caucasus for the cultivation of this crop on an industrial scale.Methods. The material for this work was 106 accessions of the common bean (Phaseolus vulgaris L.) from the collection of the All-Russian Institute of Plant Genetic Resources named after N.I. Vavilov of diverse ecological and geographical origin, that arrived in 2019–2021 and were reproduced at the Maikop Experimental Station, a branch of VIR. Research methods: study and evaluation of morphological features, phenological and statistical studies.Results. During growth and development, competitive relationships appear between plants, which directly affects their resistance to environmental conditions and the productivity of individual plants. Based on this, a detailed study of the best European and domestic varieties and the designation of economically valuable traits in the conditions of the foothill zone of the Northwestern Caucasus are very timely. The growth and development of bean plants is affected by a combination of the amount of heat and moisture during the growing season, as well as the individual response of varieties to these indicators, in this case, in the conditions of the foothill zone of the Northwestern Caucasus, due to the genotype. The main characteristics that distinguish the common bean (Phaseolus vulgaris) among food leguminous crops are its wide range in the food industry and nutritional value. The seeds of this crop contain up to 30% protein, up to 3% fat, and the protein contains all amino acids indispensable for humans nutritionally.The article presents the results of studying the collection samples of the common bean (Phaseolus vulgaris L.), identifying among them the most adapted to local conditions and designating the prospects for cultivating the crop on an industrial scale in the soil and climatic conditions of the foothill zone of the Northwestern Caucasus.
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Arnis, Dhissa Miranthi, Lindrianasari, Yuztitya Asmaranti, and Usep Saipuddin. "ANALYSIS OF VALUE RELEVANCE OF INTELLECTUAL CAPITAL DISCLOSURE." International Journal for Innovation Education and Research 7, no. 12 (December 31, 2019): 256–68. http://dx.doi.org/10.31686/ijier.vol7.iss12.2045.
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This research aims to examine whether the disclosure of IC information conducted by the company in the annual report has value relevance. The research dependent variable is PRICE. The independent variables in this research are intellectual capital disclosure index (ICDI) obtained using Li, et. al. (2012) which consists of 61 items of IC information, net income (NI), and book value of equity (BVE). The research sample is a banking sector company listed on the Indonesia Stock Exchange (BEI) of the year 2012 through 2016 using annual report. The result of hypothesis testing with regression analysis using SPSS 23 application shows that ICDI coefficient is not have positive influence to stock price. But if it is divided into 3 components it can be seen that Human Capital Disclosure Index (HCDI) has a positive effect on stock price although Structural Capital Disclosure Index (SCDI) and Customer Capital Disclosure Index (CCDI) have no effect on stock price. This shows that not all information about intellectual capital has value relevance.
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Wulan, Diajeng Fitri. "Value relevance and corporate social responsibility disclosure: A literature review." Asian Journal of Economics and Business Management 1, no. 1 (June 18, 2022): 1–7. http://dx.doi.org/10.53402/ajebm.v1i1.44.
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This article presents a review of the research literature that discusses the relevance of the value of CSR disclosure conducted in various research before. The popularity of the topic of value relevance today is still a hot topic of discussion among researchers, even though there have been many studies that have discussed value relevance analysis. This phenomenon is caused because there is much stigma regarding the discussion of whether CSR disclosure does have a relevant value or not. The literature review is limited to research conducted from 2020 to 2022 using reputable and credible articles. This article discusses the evidence for the value relevance phenomenon. The results of this article indicate that there are still differences in the research results that discuss the relevance value of CSR disclosure. There are several companies with good enough CSR disclosure to have a high relevance value, but there are also companies with the opposite result. This result can be caused by various influencing factors such as the ability of CSR disclosure owned by each company, the ability of the board of directors to regulate and make policies regarding CSR, research samples, political conditions, and assumptions and stigma on investors in certain areas. Further research is expected to expand the scope of research to provide arguments regarding the value of relevance more accurately.
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Pratiwi, Ananta D., Frida M. Sumual, and Linda A. O. Tanor. "The Value Relevance of Fair Value on Non-Financial Asset." Journal of International Conference Proceedings 5, no. 2 (August 1, 2022): 52–63. http://dx.doi.org/10.32535/jicp.v5i2.1670.
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Accounting information is presented in financial statements as one of the information that investors need to make the best judgment. The reaction of investors to the release of accounting information indicates the degree of value relevance of accounting information. This study aimed to examine the value relevance of accounting information through earnings, book value of equity, and fair value on non-financial assets. This study used 21 LQ45 Index companies listed on the Indonesia Stock Exchange (IDX) from 2018-2021. Multiple linear regression was used as an analytical tool to test the relationship between research variables. The results showed that earnings and book value of equity had positive effect on stock price and thus had value relevance. The fair value on non-financial assets was found to have a negative effect on stock price and thus had no value relevance. This study provides empirical evidence that earnings and book value of equity are useful information for investors in decision making.
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Bussemer, F., C. Johannes, L. Richter, T. S. Spengler, and P. Nyhuis. "Wertschöpfungsnetzwerke in Metropolregionen*/Value networks in metropolitan areas - Challenges of siting and safeguarding of manufacturing companies." wt Werkstattstechnik online 105, no. 03 (2015): 148–51. http://dx.doi.org/10.37544/1436-4980-2015-03-72.
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Vor dem Hintergrund zunehmender Urbanisierung und „Landflucht“ bietet der Aufbau von Wertschöpfungsnetzwerken in Metropolregionen vielversprechende Potentiale. In einer interdisziplinären Gesprächsrunde wurden Möglichkeiten und Hemmnisse bei der Standortwahl und -sicherung von produzierenden Unternehmen diskutiert. Im Rahmen einer Forschungskooperation wurden relevante Netzwerk- und Standorttypen ermittelt sowie wesentliche Standortfaktoren für Unternehmensnetzwerke in Metropolregionen identifiziert. Against the background of increasing urbanization and rural exodus, value networks in metropolitan areas offer promising potential. In an interdisciplinary discussion, opportunities and barriers for the siting and safeguarding of manufacturing companies were discussed. As part of a collaborative research project, relevant network and site types were determined and important location factors for production networks in metropolitan areas were identified.
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Schiebel, H. Alexander. "Empirical value relevance of German GAAP and IFRS." Journal of Economic and Financial Sciences 1, no. 2 (October 31, 2007): 141–70. http://dx.doi.org/10.4102/jef.v1i2.365.
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It seems logical to assume that GAAP aimed at informing investors show a higher association with share prices (value relevance) than GAAP aimed at protecting creditors. The majority of empirical studies support this assumption. This paper examines the value relevance of IFRS and German GAAP. Regression analyses are applied to companies listed on the Frankfurt Stock Exchange and publishing exclusively either IFRS or German GAAP consolidated financial reports over the period 2000-2004. As a result of Regulation (EC) No 1606/2002, comparative research becomes impossible after 2004: German GAAP will no longer exist on European stock exchanges. The paper’s study is restricted to a single capital market in order to eliminate pricing differences between capital markets based in different countries that have already been done in earlier research. Improved circumstances for investigating value relevance compared with earlier research are, however, the selection criteria for the listed companies (emphasis on international transparency requirements, free float and free float market capitalisation) and the share prices used (average price around the end of the business year when the financial reporting data is not yet published). The results of the study show that German GAAP is statistically more value relevant than IFRS. These results have to be interpreted in the light of the selection criteria. It is an unexpected outcome calling for further research.
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Puspa, Dwi Fitri, Ietje Nazaruddin, Resti Yulistia M, and Arie Frinola Minovia. "Relevance of Earnings Value, Book Value, and Operating Cash Flow in Manufacturing Companies in Indonesia." Journal of Accounting and Investment 24, no. 1 (November 7, 2022): 120–36. http://dx.doi.org/10.18196/jai.v24i1.15903.
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Research aims: This study examines the value relevance of accounting information consisting of earnings information, book values, and operating cash flows after Indonesia uses the full convergence of IFRS Financial Accounting Standards.Design/Methodology/Approach: The value relevance test was conducted using Ohlson's (1995) pricing model and Easton and Harris' (1991) return model. The valuation model test employed two regression equations, i.e., testing the relationship between earnings information and book value with stock prices and then testing the relationship between earnings information, book value, and cash flow with stock prices. In addition, the return model testing was performed to examine the relationship between earnings information and earnings changes with stock returns and the relationship between cash flow and cash flow changes with stock returns. The research sample was 105 manufacturing companies, with a research period from 2016 to 2019.Research findings: The test results with the pricing model approach revealed that earnings and cash flow had value relevance, while book value had no value relevance. This study’s results suggest that earnings and cash flow information are helpful for investors in making investment decisions. Moreover, the test results with the return model approach also uncovered those earnings, changes in earnings, and changes in operating cash flows had value relevance while operating cash flows, on the other hand, had no value relevance.Theoretical contribution/Originality: The utilized two models complement each other, and this study provides empirical evidence for standard setters who can renew beliefs about how much accounting information is reflected in stock prices in Indonesia, especially the manufacturing sector, after the full convergence of IFRS Financial Accounting Standards is applied.
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Krismiaji, Krismiaji. "AUDIT COMMITTEE AND ACCOUNTING INFORMATION VALUE RELEVANCE." Substansi: Sumber Artikel Akuntansi Auditing dan Keuangan Vokasi 4, no. 1 (November 30, 2020): 1–16. http://dx.doi.org/10.35837/subs.v4i1.752.
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This paper describes the results of empirical research investigated the effect of audit committee characteristics (AC) on the accounting information value relevance (VR) for Indonesian companies in 2014 - 2018. VR is measured using the Ohlson Model, while AC is measured using its members and its independence members. By using data of 590 firm-years, this study found that the size of the committee audit and the AC independence positively affects the value relevance of EPS. Yet, the AC size affects negatively the BVS value relevance whereas the AC independence does not affect BVS value relevance. These results enrich the literature of value relevance, especially in connection to the AC characteristics.
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NECHITA, Elena. "The Value Relevance of Non-Financial Reporting in Determining the Market Value of Equity." Audit Financiar 19, no. 162 (May 20, 2021): 320–36. http://dx.doi.org/10.20869/auditf/2021/162/009.
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The value relevance of non-financial reporting is a topic of interest in the academic literature, the results of empirical research being often contradictory. In this context, the research objective is analysing the extent to which the disclosure of non-financial information related to sustainable development in the contents of sustainability reports published by companies listed on the regulated market of the Bucharest Stock Exchange (BSE) is influencing their market value. To conduct the analysis, the present study involves the application of multiple linear regression models developed based on the Ohlson (1995) model for a sample of 34 companies listed on BSE between 2015-2019, forming a number of 166 firm-year observations. The research methodology is based on the association between the firm market value and its equity book value, as well as its net income and other relevant information. Therefore, the value relevance is investigated through their impact on the market value. The findings emphasise an increase in relevance in terms of the influence exerted on the market value of capital as a result of reporting on sustainability issues. Moreover, the study highlights an increase in the impact of equity book value and net income on firms’ market value in the period after the adoption of Directive 2014/95/EUD (2017-2019), compared to the previous period (2015-2016). This research complements the literature in the field of sustainability reporting and value relevance, providing empirical evidence on the importance of publishing nonfinancial information in relation to their market value impact.
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Mubarika, Natatsa Rizqina, and Rr Sri Handayani. "Value Relevance of Accounting Information from PSAK 72." Jurnal Akuntansi dan Keuangan 24, no. 1 (June 3, 2022): 1–9. http://dx.doi.org/10.9744/jak.24.1.1-9.
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This study examines the value relevance of accounting information after PSAK 72 on the companies that are listed on Indonesia Stock Exchange. Ohlson’s model is used to evaluate the research hypothesis and to estimate the research model using Generalized Least Squares (GLS) regression analysis. The results indicate that applying PSAK 72 has value relevance to accounting information. Stock price significantly correlates with the company’s earnings, but the book value of equity has no value. PSAK 72 requires professional interpretation and judgment, which resulted in the recognition of differences for similar transactions. The complexity of PSAK 72 requires adjustments for the company to reduce profits, and it will react negatively to the users. PSAK 72 will better disclose its contract revenue with customers, but it requires lengthy preparation. To provide better information, IAI (Ikatan Akuntan Indonesia) needs to consider the transition period for the implementation.
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Sarumpaet, Susi, Melinda Lydia Nelwan, and Dian Nirmala Dewi. "The value relevance of environmental performance: evidence from Indonesia." Social Responsibility Journal 13, no. 4 (October 2, 2017): 817–27. http://dx.doi.org/10.1108/srj-01-2017-0003.
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Purpose This paper aims to extend previous developed market-based research on the value relevance of environmental performance by testing the relationship between share prices of Indonesian-listed corporations and their environmental performance ratings. Design/methodology/approach The sample consists of 60 listed firms which are rated by the Indonesia Ministry of Environment between 2002 and 2012, resulting in a sample of 246 observations. The Ohlson (1995) model was utilized and modified by including environmental ratings. Findings The research finds that superior environmental performance is associated with higher share price, whereas inferior environmental performance is value irrelevant to the market. Research limitations/implications Considering the significance of PROPER, this research did not observe other types of corporate environmental performance, such as those released by the press and reported in the company annual reports and websites. These limitations are not controlled for in the tests, and this might confound inferences. Originality/value The paper addresses a gap in the literature by providing insight on how a developing capital market values both superior and inferior environmental performance. It also provides implication on the effectiveness of environmental monitoring policy in providing incentives for firms to improve their environmental performance
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Hoon Ki, Do, Wook Bin Leem, and Jee Hoon Yuk. "The effect of IFRS adoption on the value relevance of accounting information: evidence from South Korea." Investment Management and Financial Innovations 16, no. 2 (May 7, 2019): 78–88. http://dx.doi.org/10.21511/imfi.16(2).2019.07.
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This study investigates whether the value relevance of accounting information was changed after IFRS adoption in South Korea. Related prior studies have found mixed empirical evidence depending on research methodologies or research periods. Moreover, the effect of IFRS adoption on value relevance can be different between Korean stock markets (KSE and KOSDAQ) because they have different characteristics. Also, the main financial statements reported by Korean firms had changed from individual financial statements to consolidated financial statements after IFRS adoption. Thus, this study analyzes the effect of IFRS adoption on the value relevance of individual and consolidated accounting numbers expanding research periods (5 years before and after IFRS adoption) and comparing changes in explanatory powers of Ohlson (1995) model on each listing market. The empirical results indicate that the value relevance of Korean listed firms generally decreased after IFRS adoption. However, the value relevance of KSE listed firms decreased, while the value relevance of KOSDAQ listed firms increased after IFRS adoption. In addition, it was found that the effects of IFRS adoption on value relevance of individual and consolidated financial information were different depending on listed markets. This implies that different level of demand for information environment may induce differential effects of IFRS adoption on value relevance.
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Tuffaha, Haitham W., Najwan El Saifi, Suzanne K. Chambers, and Paul A. Scuffham. "Directing research funds to the right research projects: a review of criteria used by research organisations in Australia in prioritising health research projects for funding." BMJ Open 8, no. 12 (December 2018): e026207. http://dx.doi.org/10.1136/bmjopen-2018-026207.
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ObjectivesHealthcare budgets are limited, and therefore, research funds should be wisely allocated to ensure high-quality, useful and cost-effective research. We aimed to critically review the criteria considered by major Australian organisations in prioritising and selecting health research projects for funding.MethodsWe reviewed all grant schemes listed on the Australian Competitive Grants Register that were health-related, active in 2017 and with publicly available selection criteria on the funders’ websites. Data extracted included scheme name, funding organisation, selection criteria and the relative weight assigned to each criterion. Selection criteria were grouped into five representative domains: relevance, appropriateness, significance, feasibility (including team quality) and cost-effectiveness (ie, value for money).ResultsThirty-six schemes were included from 158 identified. One-half of the schemes were under the National Health and Medical Research Council. The most commonly used criteria were research team quality and capability (94%), research plan clarity (94%), scientific quality (92%) and research impact (92%). Criteria considered less commonly were existing knowledge (22%), fostering collaboration (22%), research environment (19%), value for money (14%), disease burden (8%) and ethical/moral considerations (3%). In terms of representative domains, relevance was considered in 72% of the schemes, appropriateness in 92%, significance in 94%, feasibility in 100% and cost-effectiveness in 17%. The relative weights for the selection criteria varied across schemes with 5%–30% for relevance, 20%–60% for each appropriateness and significance, 20%–75% for feasibility and 15%–33% for cost-effectiveness.ConclusionsIn selecting research projects for funding, Australian research organisations focus largely on research appropriateness, significance and feasibility; however, value for money is most often overlooked. Research funding decisions should include an assessment of value for money in order to maximise return on research investment.
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Bawono, Andy Dwi Bayu, Mila Ramadhanti, and Lintang Kurniawati. "Earnings and Cash Flow Information on Its Value Relevance by The Book Value." Riset Akuntansi dan Keuangan Indonesia 5, no. 1 (April 24, 2020): 46–53. http://dx.doi.org/10.23917/reaksi.v5i1.10679.
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This study aims to examine the relationship of earnings and operating cash flow as an independent variable on the value relevance of accounting information proxied by stock returns by using book value as a moderating variable. The utilitation of stock returns as an independent variable is choosed as previous research on value relevance tends to use stock prices as an independent variable. The sample of this study is all population of companies listed on the Jakarta Islamic Index (JII) in the 2016-2018 period June-November (issued from June 1st) using saturation sampling. The data used in this study is compound from annual reports in the Indonesia Stock Exchange (IDX) and stock prices from Yahoo Finance. Further, data were tested using multiple linear regression analysis. The results showed that earnings and cash flow have an effect on value relevance proxied by stock returns. However, book value neither strengthens nor weakens earnings and cash flow towards stock returns as a moderating variable. Keywords : Earnings, Operation Cash Flow, Stock Return, Value Relevance, Jakarta Islamic Index
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Narasimhan, Ram. "The fallacy of impact without relevance – reclaiming relevance and rigor." European Business Review 30, no. 2 (March 12, 2018): 157–68. http://dx.doi.org/10.1108/ebr-01-2017-0005.
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Purpose The purpose of this paper is to underscore the fundamental importance of relevance to an applied field such as supply chain management (SCM). It is argued that simultaneity of research rigor and relevance is necessary to assert claims of impact. Design/methodology/approach This paper acts as a reflective essay, inductive reasoning and prescriptive framework. Findings Impact needs to be evaluated based on both rigor and relevance, and not exclusively based on whether a paper is published in a “top-tier” journal. Without relevance, academic research in SCM will cease to be of practical importance. Research limitations/implications The primary limitation is that this is a conceptual paper relying on logical arguments. Practical implications The paper exhorts academics in SCM to recognize and insure practical relevance in their research. It develops strong arguments for why such a combined focus is needed and should be encouraged by journals. Originality/value Thought provoking paper intended to change how the field evaluates research for its impact. General strategies for increasing relevance in academic research are offered.
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Mayberry, Michael A., Sean T. McGuire, and Thomas C. Omer. "Smoothness and the Value Relevance of Taxable Income." Journal of the American Taxation Association 37, no. 2 (August 1, 2015): 141–67. http://dx.doi.org/10.2308/atax-51252.
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ABSTRACT This study investigates whether the smoothness of estimated taxable income influences its value relevance. Contrary to research that finds that smoothness enhances the value relevance of book income, we find that smoothness reduces the value relevance of taxable income. We decompose the smoothness of taxable income into its innate and discretionary components and find that innate smoothness is not associated with the value relevance of taxable income. However, we find that discretionary smoothness is associated with a reduction in taxable income's value relevance, suggesting that discretionary smoothness either eliminates or reduces the information contained in taxable income. In additional analysis, we find that discretionary smoothness is also associated with higher levels of future tax avoidance, consistent with managers smoothing taxable income as part of their tax avoidance strategy. In combination, our results suggest that the reduced value relevance of estimated taxable income is a byproduct of managers' tax-planning strategy. JEL Classifications: G32; H25; H32; M41.
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Juniarti, Juniarti, Ferbiana Helena, Karina Novitasari, and Wenny Tjamdinata. "The Value Relevance of IFRS Adoption in Indonesia." Jurnal Akuntansi dan Keuangan 20, no. 1 (June 28, 2018): 13. http://dx.doi.org/10.9744/jak.20.1.13-19.
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Pros and cons of the benefits of IFRS adoption have become an ongoing debate following the inconclusive results of prior studies. Whether IFRS increase value relevance of accounting information or not, especially in developing countries is an interesting and relevance research question. Indonesia as one of the developing countries that committed to adopting IFRS has an interest in obtaining empiric evidence on the value relevance of accounting information after nearly five years of IFRS implementation. This study aims to fill the need to enhance adopters' compliance with the standard. Ohlson Modified Model (1995) is used to test the value relevance of accounting information. Using longitudinal data of listed manufacturing companies in Indonesia Stock Exchange (IDX), this study confirms that value relevance of accounting information increase after IFRS adoption than before adoption. The results robust using Pooled Least Square and Random effect model.
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Marsudi, Almatius Setya. "ANALISIS PENGARUH MODERASI KUALITAS AUDIT PADA HUBUNGAN HARGA PASAR SAHAM DAN GOODWILL DI INDONESIA." Jurnal Muara Ilmu Ekonomi dan Bisnis 2, no. 1 (September 11, 2018): 194. http://dx.doi.org/10.24912/jmieb.v2i1.1750.
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The study on intangible assets, goodwill in particular, becomes an interesting topic to reinvestigate since question about the relevance value is often discussed recently. This research aims to test the relevance value of goodwill information and see the effect of moderation variable of audit quality on the relevance value of goodwill. The research was conducted on the companies listed in Indonesia Stock Exchange with regression analysis. The value model of stock exchange as the function from Book Value and Earning was used and the content analysis was conducted when assessing the goodwill of company.With 71 non-financial companies in Indonesia as the samples, this research shows the result that the goodwill has a significant negative relation on stock price. It was also proven that the audit quality improves the relevance value of goodwill. This improvement makes the role of auditor important in assessing the accurate goodwill value.
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Brennan, Ross, Nektarios Tzempelikos, and Jonathan Wilson. "Improving relevance in B2B research: analysis and recommendations." Journal of Business & Industrial Marketing 29, no. 7/8 (July 29, 2014): 601–9. http://dx.doi.org/10.1108/jbim-09-2013-0201.
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Purpose – The purpose of the study is to identify and discuss critical aspects of the academic/practitioner gap and suggest how to make marketing research more relevant. Design/Methodology/Approach – The study uses data from an earlier study of eight qualitative interviews conducted with business-to-business (B2B) marketing practitioners and from an earlier quantitative study among 128 academics and 510 marketing research practitioners. The data are re-analyzed for this article. Findings – Results show that academics and practitioners agree that academic research should be of more practical value. However, their priorities differ. For academics, publishing in refereed journals is the first priority and influencing practice is of much lower priority, while practitioners are not interested in the methodological and theoretical advances of marketing research; their priority is to satisfy day-to-day practical needs. Hence, practitioners have no interest in academic journals. The academic reward system tends to reinforce this divide because academic career progression depends substantially on the production of refereed journal articles. Research limitations/implications – Much prior consideration has been given to how academic journals can be made more relevant to practitioners, which is a desirable goal. However, a more fruitful approach for B2B academics would be to embrace new technologies such as blogging and social media to reach practitioners through their preferred channels. If greater relevance is to be achieved, then consideration needs to be given to the views of doctoral students, and to doctoral training processes in B2B marketing. Practical implications – The study provides academics with guidance concerning how marketing research can have a greater effect on the practice of marketing. Social implications – Originality/value – The study contributes to the research base by identifying and discussing critical aspects of the academic/practitioner gap. The study also offers insights into how managerial relevance in marketing research can, practically, be improved.
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Whelan, Catherine. "The value-relevance of corporate governance: Australian evidence." Corporate Ownership and Control 6, no. 1-2 (2008): 292–300. http://dx.doi.org/10.22495/cocv6i1c2p6.
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This study provides stakeholders with an understanding of the effectiveness of corporate governance practices by demonstrating the link between corporate governance and firm valuation. It is proposed that the presence of good corporate governance practices enhances the reliability of financial statement information, thereby increasing the market’s reliance on this information to value the firm. The specific focus of this research is to determine the impact of corporate governance practices on the value-relevance of earnings and the book value of equity as reported in a firm’s financial statements. Results indicate that corporate governance is not value-relevant in its own right. However, good corporate governance practices enhance the value-relevance of earnings but reduce the value-relevance of the book value of equity.
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Meng, Yue Heng, Hui Qi Li, and Yang Hu. "Partial Discharge Characteristics Research Based on RVM." Advanced Materials Research 989-994 (July 2014): 1260–63. http://dx.doi.org/10.4028/www.scientific.net/amr.989-994.1260.
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In this paper, four original full typical UHF partial discharge signals are measured by using log-periodic antenna in 3-meter anechoic chamber environment. The relevance vector machine is applied for the study of partial discharge characteristics and the two relevance vector machine classifier are applied for the classification and identification of four partial discharge models. The experimental results are satisfactory. Compared with support vector machines, relevance vector machine can obtain more sparse classification model with probabilistic output value. It has a shorter test time and is more suitable for online testing. This method has a good prospect in partial discharge pattern recognition and online monitoring.
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El-Diftar, Doaa, and Tarek Elkalla. "The value relevance of accounting information in the MENA region." Journal of Financial Reporting and Accounting 17, no. 3 (September 2, 2019): 519–36. http://dx.doi.org/10.1108/jfra-09-2018-0079.
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Purpose The purpose of this paper is to examine the value relevance of accounting information in the Middle East and North Africa region (MENA) region with an emphasis on the potential impact of IFRS adoption. This paper aims to not only examine the value relevance of accounting information in the MENA region but also draw comparisons between Gulf countries (GCC) and non-GCC country firms to determine whether there are distinct differences across the two regions. Design/methodology/approach To investigate the value relevance of accounting information in the MENA region, two pooled regression models are used based on the Ohlson (1995) model. The first regression model is conducted for the GCC and non-GCC regions separately. A second regression model is conducted using a pooled sample of the MENA region collectively with dummy and interaction variables to further explore the potential differences between the two regions in terms of the value relevance of accounting information. Findings The empirical results show that the measures of accounting information have a highly significant positive relationship with the market value per share for firms in the MENA region, thereby indicating that accounting information in the MENA region is value relevant. Although book value per share and earnings per share are significant determinants of value relevance in both GCC and non-GCC country firms, operating cash flows per share is only a significant determinant of value relevance in non-GCC country firms. The research findings of the study also show a significant negative impact of IFRS adoption on the value relevance of accounting information in the MENA region. Practical implications This research paper provides important insights for investors and regulators by providing evidence that accounting information is value relevant in the MENA region, and that IFRS adoption does not necessarily lead to a greater degree of value relevance. In fact, investors and regulators should be aware that the adoption of IFRS in MENA country firms results in diminished value relevance of accounting information. This finding is of particular significance to policymakers attempting to improve accounting disclosure. Originality/value The paper expands the value relevance of accounting information literature in the context of developing economies, in general, and the MENA region, in particular. There is a paucity of research into the value relevance of accounting information for MENA country firms, particularly in the case of the impact of IFRS adoption. Thus, this paper provides an important contribution in terms of expanding the value relevance literature in relation to IFRS adoption in the MENA region.