Under present financial accounting standards, in Japan and in U.S., firms can hoose pension discount rates, which they use for earnings measurement, at their discretion. First, this paper investigates, what factors affect their choice of pension discount rates. The sample firms in this paper...

This paper investigates the value relevance of segment earnings in railroad companies. Operating profits in transportation and real estate business are value relevant. While operating losses in leisure business contains large noise, positive earnings is value relevant. Earnings in other segments...

This paper investigates the value relevance of accounting earnings, with testing empirically the association between stock price levels and earnings of manufacturing firms in Japan. This research provides major five results as follows. First, whether to deflate the variables included in the...

This paper investigates whether earnings of the firms, which belong to the sluggish industries under recent recession in Japan, is value relevant. It is often said that, while the relevance of earnings is recently declining, the relevance of book value of equity increases gradually. Moreover, it...

It is conceived that the percentage of completion method make periodical earnings smoother than the completed contract method and that it can reflect construction activities of the firm on earnings more timely. Based on this intuition, some people believe that earnings recognized by the...

This paper investigates the value relevance of earnings components in the income statement, paying attention to the inter-period allocation of earnings. While prior studies only examine the pattern of allocation, this research examines both the relationship between the components in the year and...

This paper investigates, by industry and by period, the value relevance of earnings of manufacturing firms in Japan. The richness of its relevance is determined by the closeness of relation between expected permanent earnings of a firm and reported earnings, i.e. the persistence of earnings. The...

The value relevance of earnings information depends on the information environments that investors face. In general, under the highly uncertain circumstances, information is not completely nor instantly reflected in stock prices and so the value relevance of earnings is low. The purpose of this...

Under present financial accounting standards, in Japan and in U. S, the firms can choose the pension discount rate, that is used only for earnings measurement, at their discretion. This paper investigates, first, what factors affect the choice of the pension discount rate. The sample firms in...

The purpose of this paper is to investigate the value relevance of earnings by two steps. First, we identify the factors that introduce transitory earnings into the reported earnings. Next, we reexamine the value relevance of earnings by controlling those factors. In first step, we investigate...