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最新文章

• Discussion of Potential Errors in Detection of Earnings Management: Reexamining Studies Investigating the AMT of 1986 AI翻译
  作者：Dhaliwal, Dan S.
  作者单位：University of Arizona
• On Comparing Residual Income and Discounted Cash Flow Models of Equity Valuation: A Response to Penman 2001 (CAR, Winter 2001) AI翻译
  作者：Lundholm, Russell J.; O'Keefe, Terrence B.
  作者单位：University of Michigan System; University of Michigan; University of Oregon; University of Queensland
• On Comparing Cash Flow and Accrual Accounting Models for Use in Equity Valuation: A Response to Lundholm and O'Keefe (CAR, Summer 2001) AI翻译
  作者：Penman, Stephen H.
  作者单位：Columbia University
  摘要：A claim is commonly made that cash flow and accrual accounting methods for valuing equities must always yield equivalent valuations. A recent paper by Lundholm and O'Keefe 2001, for example, claims that, because of this equivalence, there is nothing to be learned from empirical comparison of valuation models. So they dismiss recent research that has shown that accrual accounting residual income models and earnings capitalization models perform, over a range of conditions, better than cash flow...
• Equity Valuation Employing the Ideal versus Ad Hoc Terminal Value Expressions AI翻译
  作者：Courteau, Lucie; Kao, Jennifer L.; Richardson, Gordon D.
  作者单位：Laval University; University of Alberta; University of Waterloo
  摘要：Recently, Penman and Sougiannis (1998) and Francis, Olsson, and Oswald (2000) compared the bias and accuracy of the discounted cash flow model (DCF) and Edwards-Bell-Ohlson residual income model (RIM) in explaining the relation between value estimates and observed stock prices. Both studies report that, with non-price-based terminal values, RIM outperforms DCF. Our first research objective is to explore the question whether, over a five-year valuation horizon, DCF and RIM are empirically equiv...
• The Relationship between Board Characteristics and Voluntary Improvements in Audit Committee Composition and Experience AI翻译
  作者：Beasley, Mark S.; Salterio, Steven E.
  作者单位：North Carolina State University; University of Waterloo
  摘要：This study empirically examines the relation between certain board of director characteristics and the extent that audit committee composition voluntarily exceeds minimum mandated levels and includes outside directors with financial reporting and audit committee knowledge and experience. This study focuses on board characteristics because the board directly controls audit committee membership. Such staffing decisions can directly affect the ability of the audit committee to monitor management'...
• Potential Errors in Detecting Earnings Management: Reexamining Studies Investigating the AMT of 1986 AI翻译
  作者：Choi, Won W.; Gramlich, Jeffrey D.; Thomas, Jacob K.
  作者单位：Dongguk University; University of Hawaii System; University of Hawaii Manoa; Columbia University
  摘要：In this paper we seek to document errors that could affect studies of earnings management. The book income adjustment (BIA) of the alternative minimum tax (AMT) created apparently strong incentives to manage book income downward in 1987. Five earlier papers using different methodologies and samples all conclude that earnings were reduced in response to the BIA. This consensus of findings offers an opportunity to investigate our speculation that methodological biases are more likely when there ...
• Untitled AI翻译
  作者：Richardson, Gordon D.