Purpose - Our purpose is to examine the impact of the financial crisis that occurred in the United States of America in 2008 on the value relevance of companies ‘financial statements. Also to examine what changed on the importance of the two most significant accounting variables, earnings and...

A combination of cyclical and structural factors has lead to a situation which could threaten financial stability worldwide. As the current financial turmoil is unfolding it becomes clearer that the effects of the initial sub-prime crisis, which originated in the US, are spreading across other...

The aim of this paper is to examine what has been the role of information provision to the market throughout the crisis. We consider two main sources of information to the market, financial statements and information provided by credit rating agencies. We examine how these sources of information...