Introduction -- Theoretical Framework of Value Relevance -- Disclosure Theories -- Textual Analysis -- Measures in Finance and Accounting -- The Value Relevance of Textual Analysis -- Empirical Analysis of the Annual Reports -- Conclusion.

This article begins with an overview of the general characteristics of the East Asian financial crisis. This is followed by an examination of the immediate causes of the crisis and the role that accounting could have played in providing investors and creditors with the necessary information, on...