English English
DeutschEnglish
Research
CommentariesStudiesFvS Wealth Price Index for GermanyFvS Wealth Price Series for the Euro AreaFvS Business Cycle IndicatorFvS Real Economy TrackerFvS Inflation TrackerThe Euro MeltdownPressPeer reviewed publications
About us
The instituteTeamContact
Research
CommentariesStudiesFvS Wealth Price Index for GermanyFvS Wealth Price Series for the Euro AreaFvS Business Cycle IndicatorFvS Real Economy TrackerFvS Inflation TrackerThe Euro MeltdownPressPeer reviewed publications
Press

26.09.2019 - Studies

Adjusted but still biased

by Philipp Immenkötter

About half of the DAX companies report adjusted earnings per share that deviate from the accounting standard. Often costs are declared as special effects but are recurrent in nature. Likewise, income that was generated by the costs is left in the result. Instead of a clearer picture, the adjustments form a biased picture of a firm’s profitability. Adjusted earnings per share are on average 33% higher than IFRS earnings.

This study is available in German only.

Related Articles

09.09.2019 - Companies

Provisions as an instrument of influencing earning (?)

The DAX companies do not use the leeway in accounting for provisions for accounting purposes. Thus, there is only a weak correlation between the development of provisions and the earnings situation.

07.12.2018 - Companies

Compensation remains intransparent

by Philipp Immenkötter

The transparency of executive compensation in Germany is disappointing. Numerous details are lacking in order to be able to understand executive salaries and their financial incentives. In comparison to the previous year, transparency has improved sl ...