The Stock Price Valuation of Earnings Per Share and Book Value: Evidence From Tunisian Firms

Ali Ahmadi ()
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Ali Ahmadi: Faculty of Economic and Management of Sfax, Tunisia

Journal of Internet Banking and Commerce, 2017, vol. 22, issue 01, 01-11

Abstract: Without making any distinction of the applicable accounting standards, the aim of this paper is to present a comparative analysis of accounting value relevance of earnings and book value, of firms listed in Tunisian Stock Exchange. The findings provide that the book value is more relevant than the earnings per share, whilst the combined value relevance of book value and earning has declined when firms have negative earnings. The important contribution of this study is documenting the decreasing of value relevance of negative earnings and the increasing value relevance of book value in the variation of share prices.

Keywords: Accounting Information; Value Relevance; Earnings; Book Value; Stock Price (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ris:joibac:0096

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