Univrsity Of Tehran Press Accounting and Auditing Review 2645-8020 12 4 2006 02 20 - - 18447 FA Journal Article This study investigates the value-relevance of earnings and book values over time for securities listed on the in Tehran Stock Exchange (TSE). Our work is motivated by recent researches about value-relevance of earnings and book values in equity valuation includings Ohlson [12], and Collins, Maydew and Weiss [4]. Three set of finding are reported. First, the variable earnings have almost explanatory power in equity valuation. Second, combined value-relevance of earnings and book values is through of reported earnings. Finally, incremental value-relevance of reported earnings is higher than book value and book value has very little explanatory power in equity valuation. This study investigates the value-relevance of earnings and book values over time for securities listed on the in Tehran Stock Exchange (TSE). Our work is motivated by recent researches about value-relevance of earnings and book values in equity valuation includings Ohlson [12], and Collins, Maydew and Weiss [4]. Three set of finding are reported. First, the variable earnings have almost explanatory power in equity valuation. Second, combined value-relevance of earnings and book values is through of reported earnings. Finally, incremental value-relevance of reported earnings is higher than book value and book value has very little explanatory power in equity valuation. https://acctgrev.ut.ac.ir/article_18447_20eec148d5dc3bb8acdbf54ab47862f4.pdf