engleski

Value relevance of accounting information: evidence from South Eastern European countries

In this article the authors analyzed value relevance of accounting information based on a sample of 97 corporations listed on one of the following capital markets: Ljubljana Stock Exchange, Zagreb Stock Exchange, Sarajevo Stock Exchange, Banja Luka Stock Exchange and Belgrade Stock Exchange. Research results show that accounting information is value relevant on all the observed markets. Value relevance analysis for the period 2005–2010 has shown that there was no increase in the explanatory power of accounting variables, but just the opposite. Research results indicate decreases or large oscillations in the value relevance for the observed period.

accounting information; value relevance; South East European (SEE) capital markets

nije evidentirano