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The Value Relevance of Consolidated Financial Statements in an Emerging Market: The Case of India

Padmini Srinivasan and Narasimhan M S
Journal Name
Asian Review of Accounting
Journal Publication
others
Publication Year
2012
Journal Publications Functional Area
Finance & Accounting
Publication Date
Vol. 20(1), PP 1-30, 2012
Abstract

India is one of the few countries where companies are required to give both consolidated financial statements (CFS) as well as parent-only financial statements. While parent-only statements are in existence for a long time, CFS was introduced recently. This study examines the value relevance of consolidated financial statements in India. The value relevance of consolidated financial statements is examined through an empirical study. The study examines the relationship between market values and consolidated earnings and parent-only earnings is analysed. The study uses four years data of 59 companies whose subsidiary earnings are more than 20% of consolidated revenue.

Author(s) Name: Padmini Srinivasan and Narasimhan M S
Journal Name : Asian Review of Accounting
Volume : Vol. 20(1), PP 1-30, 2012
Year of Publication : 2012
Abstract :

India is one of the few countries where companies are required to give both consolidated financial statements (CFS) as well as parent-only financial statements. While parent-only statements are in existence for a long time, CFS was introduced recently. This study examines the value relevance of consolidated financial statements in India. The value relevance of consolidated financial statements is examined through an empirical study. The study examines the relationship between market values and consolidated earnings and parent-only earnings is analysed. The study uses four years data of 59 companies whose subsidiary earnings are more than 20% of consolidated revenue.