Gavious, Ilanit; Schwartz, Dafna - In: Journal of entrepreneurial finance : JEF ; official … 13 (2008) 2, pp. 1-24
relate changes in the value-relevance of financial statements to a firm's maturity, as measured on the basis of time (firm … age), our findings indicate that the main factor affecting value-relevance is a firm's degree of market penetration …. -- financial statements ; market penetration ; start-up ; sales growth ; technology adoption ; value-relevance ; valuation …