Intangible assets and related performance measures assume increasing importance in valuation processes. Value relevance studies testify to their importance through an analysis of market stock prices. We aim to examine the value relevance of non-financial indicators in European fashion companies. The indicator selected is the "change in mono-brand stores". Applying the models proposed by current literature, we have refuted the value relevance hypothesis. However, refining both the "operationalization" of the concepts and the related result analysis procedure, the value relevance is confirmed. In this way, we contribute to increasing the generalizability of this research trend and to fuel the debate concerning the standardization process of this information. In particular, following in the footsteps of the Gartner/EBRC project, supported by AICPA (Gartner-EBRC, 2010), our results can help the national and international standard setters to pinpoint the indicators that really matter for the fashion industry and standardize their communication.

The value relevance of non-financial performance indicators: new cues from the European fashion industry / F. Dainelli; F. Giunta. - In: FINANCIAL REPORTING. - ISSN 2036-671X. - STAMPA. - special issue:(2011), pp. 81-102. [10.3280/FR2011-SU003005]

The value relevance of non-financial performance indicators: new cues from the European fashion industry

DAINELLI, FRANCESCO;GIUNTA, FRANCESCO
2011

Abstract

Intangible assets and related performance measures assume increasing importance in valuation processes. Value relevance studies testify to their importance through an analysis of market stock prices. We aim to examine the value relevance of non-financial indicators in European fashion companies. The indicator selected is the "change in mono-brand stores". Applying the models proposed by current literature, we have refuted the value relevance hypothesis. However, refining both the "operationalization" of the concepts and the related result analysis procedure, the value relevance is confirmed. In this way, we contribute to increasing the generalizability of this research trend and to fuel the debate concerning the standardization process of this information. In particular, following in the footsteps of the Gartner/EBRC project, supported by AICPA (Gartner-EBRC, 2010), our results can help the national and international standard setters to pinpoint the indicators that really matter for the fashion industry and standardize their communication.
2011
special issue
81
102
F. Dainelli; F. Giunta
File in questo prodotto:
File Dimensione Formato  
paper_DAINELLI-GIUNTA[1].pdf

Accesso chiuso

Tipologia: Altro
Licenza: Tutti i diritti riservati
Dimensione 225.16 kB
Formato Adobe PDF
225.16 kB Adobe PDF   Richiedi una copia

I documenti in FLORE sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificatore per citare o creare un link a questa risorsa: https://hdl.handle.net/2158/554699
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus ND
  • ???jsp.display-item.citation.isi??? ND
social impact