Assessing value relevance of comprehensive income in European banks and other financial institutions
Journal title FINANCIAL REPORTING
Author/s Alessandro Mechelli, Riccardo Cimini
Publishing Year 2013 Issue 2013/1
Language Italian Pages 29 P. 13-41 File size 772 KB
DOI 10.3280/FR2013-001003
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The IAS/IFRS compliant groups have been disclosing comprehensive income since 2009, when the IAS 1-revised became effective. This paper aims to investigate the value relevance of comprehensive income and its components in European banks and other financial institutions. The research has been developed by having a sample of 166 European listed groups whose data have been collected in the 2009, 2010 and 2011 (498 firm-year observations) consolidated financial statements. In contrast to previous findings, related to all the sectors, our research highlights a higher value relevance of comprehensive income in respect to net income. Moving to the single OCI components, our results suggest that gains and losses on remeasuring available-for-sale financial assets (AFSit) are value relevant in European banks and other financial institutions.
Keywords: Comprehensive income; net income; value relevance; IAS 1-revised; European listed groups
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DOI: 10.3280/FR2018-002002 - The value relevance of earnings and book value across the EU. A comparative Analysis Alessandro Mechelli, Riccardo Cimini, in FINANCIAL REPORTING 2/2015 pp.83
DOI: 10.3280/FR2014-002004 - The relation between R&D accounting treatment and the risk of the firm: Evidence from the Italian market Riccardo Cimini, Alessandro Gaetano, Alessandra Pagani, in FINANCIAL REPORTING 1/2014 pp.33
DOI: 10.3280/FR2014-001002
Alessandro Mechelli, Riccardo Cimini, Assessing value relevance of comprehensive income in European banks and other financial institutions in "FINANCIAL REPORTING" 1/2013, pp 13-41, DOI: 10.3280/FR2013-001003