The main purpose of this paper is to test the value relevance of IFRS 9, pre-eminently in comparison with its predecessor, accounting standard IAS 39, both at the overall level and with reference only to loans and advances granted by banks to customers. To this end, an empirical analysis was conducted using a sample of 139 banks listed on regulated markets in the European Union. The results descending from the tests conducted suggest that both accounting standards can be considered value relevant. Nonetheless, the introduction of accounting standard IFRS 9 may be related to an increased ability to provide useful information from a predictive perspective on share price, when considered in place of its forerunner IAS 39, although this may be seen with exclusive reference to loans and advances to customers. This goes to represent a new element with respect to the studies already present on the subject of interest, the latter having considered the equity of banking enterprises in an exclusively aggregate manner. Further evidence suggests that the information contributed by the operating result for the year, traditionally regarded as predictive of share price, may be considered value relevant only in countries where international accounting standards tend to be applied more accurately.
