ABSTRACT

This study empirically examined the difference of the value relevance of accounting information based on the level of solvency margin ratio(hereafter SMR) in the non-life insurance industry. The results are as follow:First, the value relevance of equity book value and net income differ according to the level of SMR. On the group which have high or low score in the SMR, the relative value relevance of equity book value is higher. But, on the middle group relative value relevance of net income is higher. Second, the value relevance of equity cleanness exists only when the SMR is high. Therefore, cleanness of equity was not significant variables on the group which have middle or low score in SMR. Our empirical study reconfirmed and specify the result of previous study that firm’s financial health affect the value relevance using the SMR. And this study revealed that the relation with cleanness of equity and firm’s value was significant only when the SMR.

KEYWORD

value relevance, solvency margin ratio, non-life insurance company, equity book value, net income, cleanness of equity

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