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Book Cover
E-book
Author Zhang, Guochang, author

Title Accounting information and equity valuation : theory, evidence, and applications / Guochang Zhang
Published New York : Springer, [2014]
©2014

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Description 1 online resource (xxiv, 233 pages) : illustrations
Series Springer Series in Accounting Scholarship, 1572-0284 ; 6
Springer series in accounting scholarship, 1572-0284
Contents Accounting Measures of Value Generation: The Residual Income Model -- Mapping Accounting Data to Value via Linear Information Dynamics: the Early Approach -- Capital Following Profitability: Why the Residual Income Dynamic is Nonlinear -- A Basic Model of Equity Value: Incorporating Growth and Abandonment Options -- Testing the Properties of the ROM -- Casting Theoretical Light on the Empirical Valuation Literature -- Valuing Multiple-segment Firms: How Segment-level Data are Incrementally Relevant -- A Valuation-based Theory of Corporate Divestiture: Why Financial Reporting May Fail to Resolve Information Asymmetries -- Accounting Information and Equity Returns: A Derivative of the Value Function -- An Evaluation of the Return-Earnings Research -- Fair Value Accounting and Income Measurement: An Application to Standard Setting -- Interpreting Financial Information in an Industry Context -- Limitations and Future Directions
Summary The purpose of this book is to offer a more systematic and structured treatment of the research on accounting based valuation, with a primary focus on recent theoretical developments and the resulting empirical analyses that recognize the role of accounting information in making managerial decisions. Since its inception, valuation research in accounting has evolved primarily along an empirically driven path. In the absence of models constructed specifically to explain this topic, researchers have relied on economic intuition and theories from other disciplines (mainly finance and economics) as a basis for designing empirical analyses and interpreting findings. Although this literature has shed important light on the usefulness of accounting information in capital markets, it is obvious that the lack of a rigorous theoretical framework has hindered the establishment of a systematic and well structured literature and made it difficult to probe valuation issues in depth. More recently, however, progress has been made on the theoretical front
Bibliography Includes bibliographical references
Notes Online resource; title from PDF title page (SpringerLink, viewed October 1, 2013)
Subject Business enterprises -- Valuation.
Managerial accounting.
Valuation theory.
BUSINESS & ECONOMICS -- Accounting -- Financial.
Science économique.
Affaires.
Accounting
Valuation theory
Form Electronic book
ISBN 9781461481607
1461481600
9781306163682
1306163684
9781461481614
1461481619