This study examines whether mergers and acquisitions create value for shareholders in the Athens Stock Exchange, during an extremely volatile period. The results indicate, on average, statistically insignificant investor reaction around merger announcements. However, further analysis suggests...

Purpose – This study aims to test empirically the validity of the accounting valuation model that is based on earnings and book values for loss-reporting firms under a conservative accounting regime. Design/methodology/approach – The empirical tests are performed by employing returns models...

Purpose -This paper seeks to deal with the problem of the anomalous negative price-earnings relation for firms listed in the Athens Stock Exchange (ASE). Design/methodology/approach -The simple earnings capitalization model is employed to investigate the association between price and earnings...

This paper investigates whether taxes presented according to the IFRS financial statements convey value relevant information. We ask the following questions: do taxes derived from published IFRS financial statements convey information on tax planning policies and thus be used to predict future...