Value Relevance of Inflation-adjusted Equity and Income

  • Berna Kirkulak, Cagnur Kaytmaz Balsari
  • Published 2009


This paper investigates the role incremental information content of inflation-adjusted data plays in explaining the market value of equity and stock returns on the Istanbul Stock Exchange (ISE). We show the effect of inflation accounting application on basic financial ratios, and we test the value relevance of inflation-adjusted and historical cost-based… (More)

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