Siekkinen, Jimi <br/><br/>
Value relevance of fair values in different investor protection environments/ 
by Jimi Siekkinen. 
 - Amsterdam:  Elsevier,   c2016. 
 - p.1-15. 
 - Accounting Forum.   p.1-15  Volume 40, Issue 1, March 2016  0155-9982 .
<br/><br/> Includes references. 
<br/><br/> This paper examines whether the value relevance of fair values varies across investor protection environments. By analyzing financial firms from 34 countries this study finds evidence that fair values, irrespective of the level in the fair value hierarchy, are value relevant in countries with a strong or medium investor protection environment. In a weak investor protection environment, only market prices (level 1) are relevant to investors. In addition, the results indicate that the difference in value relevance between market prices (level 1) and fair value estimates (level 3) decreases with the quality of investor protection. 
<br/><br/><label>ISSN: </label>01559982 
<br/><br/><label>Subjects--Topical Terms: </label><br/>IFRS 13<br/>Fair value accounting.<br/>Investor protection.<br/>Value relevance.<br/>Fair value hierarchy.
<br/><br/><label>Dewey Class. No.: </label>BPer. 657  / Ac27  Vol. 40, i1.