Capital markets research in accounting

• 成果类型: Article; Proceedings Paper
• 署名作者: Kothari, SP
• 署名单位: Massachusetts Institute of Technology (MIT)
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101
• DOI: 10.1016/S0165-4101(01)00030-1
• 发表日期: 2001
• 关键词: time-series properties; analysts earnings forecasts; Book-to-market; incremental information-content; residual income valuation; PRICES FULLY REFLECT; stock returns; VALUE-RELEVANCE; quarterly earnings; SECURITY RETURNS

摘要

I review empirical research on the relation between capital markets and financial statements. The principal sources of demand for capital markets research in accounting are fundamental analysis and valuation, tests of market efficiency, and the role of accounting numbers in contracts and the political process. The capital markets research topics of current interest to researchers include tests of market efficiency with respect to accounting information, fundamental analysis, and value relevance of financial reporting. Evidence from research on these topics is likely to be helpful in capital market investment decisions, accounting standard setting, and corporate financial disclosure decisions. (C) 2001 Elsevier Science B.V. All rights reserved.