TY - JOUR TT - Value Relevance of Book Value & Earnings Under the Local GAAP and IFRS: Evidence from Turkey AU - Suadiye, Gülhan PY - 2012 DA - July JF - Ege Academic Review JO - eab PB - Ege Üniversitesi WT - DergiPark SN - 1303-099X SP - 301 EP - 310 VL - 12 IS - 3 KW - UFRS KW - hisse senedi fiyatlarına yansıma KW - yerel muhasebe standartları KW - sermaye piyasaları N2 - This study examines empirically the impact of International Financial Reporting Standards (IFRS) on the value relevance of accounting information in Turkey. Turkish listed firms on the Istanbul Stock Exchange (ISE) are required to adopt IFRS in the preparation and presentation of their financial statements since 2005. Using the equity valuation model as suggested by Ohlson (1995), firstly, the value relevance of earnings and book values of equity produced under Turkish Local Standards and under IFRS is analyzed. And then, these two periods are compared to investigate whether the mandatory adoption of IFRS has an impact on value relevance of accounting information. The analysis results show that earnings and book value are, jointly and individually, positively and significantly related to stock price under the two different reporting regimes. Additionally, the results provide that book value of equity is more value relevant than earnings. When two different reporting standards are compared, it is found that the adoption of IFRS increased the value relevance of accounting information for Turkish listed firms. This study contributes to the existing literature on the value relevance of accounting information and to the debate over the mandatory adoption of IFRS CR - Ahmed, K., Goodwin, J. ve Heaney, R. 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UR - http://dergipark.org.tr/tr/pub/eab/issue//473735 L1 - http://dergipark.org.tr/tr/download/article-file/559218 ER -