journal port science research

Abstract This research investigates the value relevance of accounting information, namely earnings and book value of equity (separately and aggregately), related to stock market values and stock market returns models, for Iraqi services companies for the four years 2015 - 2018. The paper finds that, related to stock market values model, the value relevance of earnings and book value has increased separately; the value relevance for earnings increased while it is irrelevant for book value when they are associated. In the other hand and related to stock market returns model, the value relevance of earnings either separately or aggregately has increased while that of book value has decreased. Generally, it is shown that earnings figures can importantly demonstrate variances in stock market values and stock market returns compared with book value figures. Moreover, the findings show that earnings and book value separately are more value relevant in stock market values model. Differently, these variables aggregately are more value relevant in stock market returns model. The study finds earnings can widely help in demonstrating the changes stock market values in Iraqi services companies. The value relevance of accounting information using two models of stock market values and stock market returns has not examined before in one study in Iraq.