Earnings, Book Values, and Dividends in Equity Valuation: An Empirical Perspective
成果类型：
Article
署名作者：
Ohlson, James A.
署名单位：
New York University
刊物名称：
CONTEMPORARY ACCOUNTING RESEARCH
ISSN/ISSBN：
0823-9150
DOI：
10.1506/7TPJ-RXQN-TQC7-FFAE
发表日期：
2001
页码：
107-120
关键词：
摘要：
This paper revisits Ohlson 1995 to make a number of points not generally appreciated in the literature. First, the residual income valuation (RIV) model does not serve as a crucial centerpiece in the analysis. Instead, RIV plays the role of condensing and streamlining the analysis, but without any effect on the substantive empirical conclusions. Second, the concept of other information in the model can be given concrete empirical content if one presumes that next-period expected earnings are observable.
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