Authors: PETROS KALANTONIS, SPYRIDON GOUMAS, MARIA RODOSTHENOUS, AGGELOS STRAVODIMOS

Title: Exploring the impact of the recession on the relevance of the disclosed accounting information. Evidence from Greek financial market

Abstract

Value relevance indicates how strongly the disclosed accounting information affects the market value of firms.  Many recent and prior studies have explored the relevance of financial information in different countries, and, specifically, they examined the impact of financial reporting standards changes on the value relevance of accounting information. Furthermore, country-specific factors and legislation adjustments (eg. Sarbanes Oxley Act) were also investigated for their effect on the relation of accounting information with the share prices.   In this study, we investigate the reflection of book value and earnings on the stock prices focusing on the period of financial crisis in Greece. Our findings have been compared with those of the prior research studies.