作者：Nagar, V; Rajan, MV
作者单位：University of Michigan System; University of Michigan; Stanford University
摘要：Arguing that GAAP is ill suited for estimating the future profitability of intangibles, the accounting literature (e.g., Kaplan and Norton 1996, Lev 2001) has recently proposed alternative measurement models. These models view intangibles as composed of a set of fundamental business activities and use multiple financial and nonfinancial metrics causally interlinked to profits to represent this view. Using a unique and proprietary cross-sectional data set of the retail banking industry, we prov...
