“…Ernstberger (2008) compares the value relevance of comprehensive income and net income within German companies which have voluntarily adopted IFRS or US GAAP. Many studies have been made on the value relevance under non IFRS adopter, Kanagaretnam et al (2009), Dastgir and Velashani (2008), Chambers et al (2007), Cauwengberde et De Bleede (2007, Wang et al (2006), Pinto (2005), Maines and McDaniel (2000), Cahan et al (2000), O' Hanlon and Pope (1999), Dhaliwal et al (1999), , Cheng et al (1993) . Finally, some studies have also been conducted on value relevance and financial crisis.…”