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Which is More Value-Relevant

1998
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Release : 1998
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Book Synopsis Which is More Value-Relevant by : Ervin L. Black

Download or read book Which is More Value-Relevant written by Ervin L. Black. This book was released on 1998. Available in PDF, EPUB and Kindle. Book excerpt: Statements in the financial press and recent research suggest that controversy exists as to which accounting measure is more value-relevant: earnings or cash flows. This study examines the relative value-relevance of earnings and cash flow measures in the context of the firm life-cycle. Earnings are predicted to be more value-relevant in mature stages. Cash flows are expected to be more value relevant in stages characterized by growth and/or uncertainty. In general the hypotheses are supported using Wald chi-square tests (Biddle, Seow, and Siegel 1995) of the Edwards, Bell, Ohlson (1995) model. Evidence supports the hypothesis that earnings are more value-relevant than operating, investing, or financing cash flows in mature life-cycle stages. However, in the start-up stage investing cash flows are more value relevant than earnings. In growth and decline stages, operating cash flows are more value relevant than earnings.

Principles of Econometrics

1971-06-15 Business & Economics
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Release : 1971-06-15
Genre : Business & Economics
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Book Synopsis Principles of Econometrics by : Henri Theil

Download or read book Principles of Econometrics written by Henri Theil. This book was released on 1971-06-15. Available in PDF, EPUB and Kindle. Book excerpt: Mathematical tools: matrix algebra; Statistical tools: inference and distribution theory; Least squares and the standerd linear model; Partial and miltiple correlation; The statistical analysis of sisturbances; Generalized least squares and linear constraints; The combination of several linear relations; Asymptotic distribution theory.

Value Relevance of Accounting Information in Capital Markets

2016-12-12 Business & Economics
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Release : 2016-12-12
Genre : Business & Economics
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Book Synopsis Value Relevance of Accounting Information in Capital Markets by : Ojo, Marianne

Download or read book Value Relevance of Accounting Information in Capital Markets written by Ojo, Marianne. This book was released on 2016-12-12. Available in PDF, EPUB and Kindle. Book excerpt: Among banking industries and insurance and security sectors, systemic risk and information uncertainty can generate negative consequences. By developing solutions to address such issues, financial regulation initiatives can be optimized. Value Relevance of Accounting Information in Capital Markets is an essential reference source for the latest scholarly research on the importance of information asymmetries and uncertainties and their effects on the overall regulation of financial industries. Featuring extensive coverage on a wide range of perspectives, such as financial reporting standards, investor confidence, and capital flows, this publication is ideally designed for professionals, accountants, and academics seeking current research on the effects of the underlying elements in investing.

Incremental Information Content of Statement 33 Disclosures

1983 Business & Economics
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Release : 1983
Genre : Business & Economics
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Book Synopsis Incremental Information Content of Statement 33 Disclosures by : William H. Beaver

Download or read book Incremental Information Content of Statement 33 Disclosures written by William H. Beaver. This book was released on 1983. Available in PDF, EPUB and Kindle. Book excerpt:

Accounting, Cash Flow and Value Relevance

2020-07-29 Business & Economics
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Release : 2020-07-29
Genre : Business & Economics
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Book Rating : 886/5 ( reviews)

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Book Synopsis Accounting, Cash Flow and Value Relevance by : Francesco Paolone

Download or read book Accounting, Cash Flow and Value Relevance written by Francesco Paolone. This book was released on 2020-07-29. Available in PDF, EPUB and Kindle. Book excerpt: Although the concept “Cash is King” is today widely recognized, the cash flow statement was rather neglected until the EU accounting regulators discovered its relevance in explaining the real value of the business. This book investigates the value relevance of the operating cash flow as reported under the International Financial Reporting Standards (IAS/IFRS) for the largest European listed companies and US listed companies in the past recent years. Using the model based on the valuation theory developed by Ohlson, which measures the market value of equity as a function of accounting variables, the author concludes that operating cash flow represents a significant variable in determining the value relevance of the largest European and US listed companies. These findings provide siginificant implications for standard setters and support the continued requirements for disclosure of cash flow information under IAS 7.

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