The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan

The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan

The purpose of the study was to present empirical evidence on the value relevance of accounting information in Jordan; whether institutional factors influence this value relevance and to determine which share price proxy is more reliable in indicating value relevance. The study examines the influenc...

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Main Author: Jabar, Dhia Shamki
Format: Thesis
Language:eng
eng
Published: 2012
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HF5601-5689 Accounting
Online Access:https://etd.uum.edu.my/3446/1/DHIAA%20SHAMKI%20JABAR.pdf
https://etd.uum.edu.my/3446/7/DHIAA%2520SHAMKI%2520JABAR%281%29.pdf
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institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
advisor Abdul Rahman, Azhar
topic HF5601-5689 Accounting
spellingShingle HF5601-5689 Accounting
Jabar, Dhia Shamki
The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan
description The purpose of the study was to present empirical evidence on the value relevance of accounting information in Jordan; whether institutional factors influence this value relevance and to determine which share price proxy is more reliable in indicating value relevance. The study examines the influence of institutional factors (foreign ownership, trading volume, financial disclosure time, financial disclosure level, number of shareholders, listing status, company’s age and type of industry) on the value relevance of accounting information (earnings, book value and cash flows relative to three share price proxies including average annual share price, annual closing share price and share price after a three-month period following the financial year-end) for Jordanian services and industrial companies during the period from 2004-2009. The study found that book value has the greatest value relevance and the best predictor for firm value. The value relevance of earnings and book value is greater for companies having foreign ownership, larger trading volume, larger shareholder numbers that conform to financial disclosure time, that are listed on the main board and that are older in age. Value relevance of book value is greater for companies complying with disclosure requirements and for services companies. Finally, annual closing share price proxy is more reliable in detecting the value relevance of accounting information. The findings suggest that market participants might be able to extract the firm value through the aforementioned institutional factors. The study extends the valuation model by including cash flows together with earnings and book value. The findings demonstrate that there is a shift away from earnings towards book value as the basis of firm valuation.
format Thesis
qualification_name Ph.D.
qualification_level Doctorate
author Jabar, Dhia Shamki
author_facet Jabar, Dhia Shamki
author_sort Jabar, Dhia Shamki
title The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan
title_short The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan
title_full The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan
title_fullStr The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan
title_full_unstemmed The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan
title_sort influence of institutional factors on the value relevance of accounting information: evidence from jordan
granting_institution Universiti Utara Malaysia
granting_department Othman Yeop Abdullah Graduate School of Business
publishDate 2012
url https://etd.uum.edu.my/3446/1/DHIAA%20SHAMKI%20JABAR.pdf
https://etd.uum.edu.my/3446/7/DHIAA%2520SHAMKI%2520JABAR%281%29.pdf
_version_ 1776103618009628672
spelling my-uum-etd.34462022-11-21T01:53:50Z The Influence of Institutional Factors on the Value Relevance of Accounting Information: Evidence from Jordan 2012-05 Jabar, Dhia Shamki Abdul Rahman, Azhar Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HF5601-5689 Accounting The purpose of the study was to present empirical evidence on the value relevance of accounting information in Jordan; whether institutional factors influence this value relevance and to determine which share price proxy is more reliable in indicating value relevance. The study examines the influence of institutional factors (foreign ownership, trading volume, financial disclosure time, financial disclosure level, number of shareholders, listing status, company’s age and type of industry) on the value relevance of accounting information (earnings, book value and cash flows relative to three share price proxies including average annual share price, annual closing share price and share price after a three-month period following the financial year-end) for Jordanian services and industrial companies during the period from 2004-2009. The study found that book value has the greatest value relevance and the best predictor for firm value. The value relevance of earnings and book value is greater for companies having foreign ownership, larger trading volume, larger shareholder numbers that conform to financial disclosure time, that are listed on the main board and that are older in age. Value relevance of book value is greater for companies complying with disclosure requirements and for services companies. Finally, annual closing share price proxy is more reliable in detecting the value relevance of accounting information. The findings suggest that market participants might be able to extract the firm value through the aforementioned institutional factors. The study extends the valuation model by including cash flows together with earnings and book value. The findings demonstrate that there is a shift away from earnings towards book value as the basis of firm valuation. 2012-05 Thesis https://etd.uum.edu.my/3446/ https://etd.uum.edu.my/3446/1/DHIAA%20SHAMKI%20JABAR.pdf text eng public https://etd.uum.edu.my/3446/7/DHIAA%2520SHAMKI%2520JABAR%281%29.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Aba Ibrahim, M., Bujang, H., Madi, N., Abu Samah, A., Ismai, U., Jusoff, K. and Azlina, N. (2009).Value-relevance of accounting numbers for valuation. 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