THE VALUATION IMPLICATIONS OF FUTURE INVESTMENTS IN INFORMATION TECHNOLOGY: THE CASE OF FIRM'S Y2K COMPLIANCE COSTS
This study examines the extent to which expected future investments in information technology are value relevant. Prior research has provided mixed results on this issue. By controlling for current expenditures, and showing that the value relevance of investments in information technology is conditi...
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| Veröffentlicht in: | Academy of Accounting and Financial Studies journal 2008-05, Vol.12 (2), p.61 |
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| creator | Tiras, Samuel L Turner, Jerry L Wheatley, Clark M |
| description | This study examines the extent to which expected future investments in information technology are value relevant. Prior research has provided mixed results on this issue. By controlling for current expenditures, and showing that the value relevance of investments in information technology is conditional on expectations of future growth, our findings provide an explanation for the contradictory results of prior research. Our findings indicate that expected future expenditures are positively valuation relevant only for high-growth firms, and this relevance is significantly greater than that of aggregate accounting earnings. The value relevance of current period Y2K expenditures is found, for both high- or low-growth firms, to be consistent with other types of expenses recognized in earnings. [PUBLICATION ABSTRACT] |
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Prior research has provided mixed results on this issue. By controlling for current expenditures, and showing that the value relevance of investments in information technology is conditional on expectations of future growth, our findings provide an explanation for the contradictory results of prior research. Our findings indicate that expected future expenditures are positively valuation relevant only for high-growth firms, and this relevance is significantly greater than that of aggregate accounting earnings. The value relevance of current period Y2K expenditures is found, for both high- or low-growth firms, to be consistent with other types of expenses recognized in earnings. 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| ispartof | Academy of Accounting and Financial Studies journal, 2008-05, Vol.12 (2), p.61 |
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| source | Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals |
| subjects | Accounting Book value Business valuation Capital investments Compliance Correlation analysis Costs Disclosure Earnings Earnings per share Expenditures Information technology Investments Productivity Studies Valuation Year 2000 |
| title | THE VALUATION IMPLICATIONS OF FUTURE INVESTMENTS IN INFORMATION TECHNOLOGY: THE CASE OF FIRM'S Y2K COMPLIANCE COSTS |
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