Value Relevance of Comprehensive Income

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type 01 Jan 2014 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Shahwali Khan; Michael E. Bradbury; Stephen Courtenay;

doi: 10.2139/ssrn.2375508 , 10.1111/auar.12181

Value Relevance of Comprehensive Income

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Abstract

AbstractIn this paper, we investigate the value relevance of comprehensive income and its components for a sample of 92 New Zealand companies over the period 2003–2010. We find a stronger association of aggregate comprehensive income with stock price and market returns relative to net income. The change in the asset revaluation reserve and the change in fair value of available‐for‐sale securities drive this association. However, foreign currency translation and cash flow hedges are also associated with prices and returns.

Related Organizations

Massey University
New Zealand
Institute of Management Sciences Peshawar
Pakistan

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