Article1985

THE INFORMATION CONTENT OF INFLATION‐ADJUSTED FINANCIAL STATEMENTS

13 citations0/0 files storedJournal of Business Finance &amp Accounting

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Accounting Theory and Financial Reporting Auditing, Earnings Management, Governance Financial Reporting and Valuation Research

Abstract

This paper seeks to examine whether current cost accounting information provides additional useful information to users of accounts by examining the impact of such information on stockmarket activity. The statistical tests compare the share price movement of companies reporting current cost informa‐ tion with a control group of matched companies reporting only historic cost information. Wherever possible allowance is made for the impact of other information released at the same time as accounting information. The results seem to indicate that the release of current cost information had no traceable effects on the share market prices of the companies concerned.

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1970EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*1968The Information Content of Annual Earnings Announcements 1963A Simplified Model for Portfolio Analysis 1976The Impact of Earnings Announcements on the Share Price Behaviour of Similar Type Firms 1981The institutional investor and financial information 1981The Relative Information Content of the Release of Financial Results Data by Firms 1976Current Cost Accounting 1980The Lessons to be Learned from the Development of Inflation Accounting in the UK

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