تحليل أثر الخصائص التشغيلية للشركة على منفعة المعلومات المحاسبية لربحية السهم و قيمته الدفترية لأغراض تحديد أسعار الأسهم في سوق الأوراق المالية المصري

Abstract EN

This study aims at studying the value relevance of accounting information (in terms of earning and book value per share) in determining stock prices in the Egyptian stock market.

The research aims to test the impact of size of the company, type of industry, leverage, and losses on the value relevance of accounting information, in order to answer the following research questions: Is there a value relevance of accounting information (earnings and book value per share) in the Egyptian stock market? What is the effect of the size of the company on the value relevance of accounting information? What is the effect of the type of industry on the the value relevance of accounting information? What is the effect of the leverage on the the value relevance of accounting information? Is the company suffering of losses affecting the value relevance of accounting information? In order to achieve this objective, a sample of non-financial companies listed on the Egyptian stock market was used for a period of six years from 2012 to 2017.

The results of the study showed that accounting information (earning and book value per share) have value relevance in Egyptian Stock market.

The results also showed that there is evidence of a significant impact of the size of the company and the level of the company's financial leverage on the role of earnings per share for purposes of determining the share price in the market.

On the other hand, the results showed that there is evidence that there is a significant impact of the type of industry to which the Company belongs, or for the loss on the role of book value per share for the purpose of determining the share price in the market.