The impact of IFRS on the predictive ability and value relevance of fundamental signals and analysts' efficiency in using these signals

This research examines the impact of International Financial Reporting Standards (IFRS) on the predictive ability and value relevance of financial statement fundamental information (signals). Additionally, this research examines IFRS impact on analysts’ efficiency in using these fundamental signals for their earnings forecasts. The sample is listed companies selected from 11 European countries and Australia. The findings have high practical application for capital market participants, particularly for investors and financial analysts, but are likely to be of interest also to financial statement preparers, policymakers, standard setters and those in countries considering IFRS adoption.