Bussiness ManagementMBAstrategyHuman ResourceMarketingHospitalityE-commerceInternational Tradingproject managementmedia managementLogisticsFinanceAccountingadvertisingLawBusiness LawEducationEconomicsBusiness Reportbusiness planresearch proposal
英语论文题目英语教学英语论文商务英语英语论文格式商务英语翻译广告英语商务英语商务英语教学英语翻译论文英美文学英语语言学文化交流中西方文化差异英语论文范文英语论文开题报告初中英语教学英语论文文献综述英语论文参考文献
ResumeRecommendation LetterMotivation LetterPSapplication letterMBA essayBusiness Letteradmission letter Offer letter
澳大利亚论文英国论文加拿大论文芬兰论文瑞典论文澳洲论文新西兰论文法国论文香港论文挪威论文美国论文泰国论文马来西亚论文台湾论文新加坡论文荷兰论文南非论文西班牙论文爱尔兰论文
小学英语教学初中英语教学英语语法高中英语教学大学英语教学听力口语英语阅读英语词汇学英语素质教育英语教育毕业英语教学法
英语论文开题报告英语毕业论文写作指导英语论文写作笔记handbook英语论文提纲英语论文参考文献英语论文文献综述Research Proposal代写留学论文代写留学作业代写Essay论文英语摘要英语论文任务书英语论文格式专业名词turnitin抄袭检查
temcet听力雅思考试托福考试GMATGRE职称英语理工卫生职称英语综合职称英语职称英语
经贸英语论文题目旅游英语论文题目大学英语论文题目中学英语论文题目小学英语论文题目英语文学论文题目英语教学论文题目英语语言学论文题目委婉语论文题目商务英语论文题目最新英语论文题目英语翻译论文题目英语跨文化论文题目
日本文学日本语言学商务日语日本历史日本经济怎样写日语论文日语论文写作格式日语教学日本社会文化日语开题报告日语论文选题
职称英语理工完形填空历年试题模拟试题补全短文概括大意词汇指导阅读理解例题习题卫生职称英语词汇指导完形填空概括大意历年试题阅读理解补全短文模拟试题例题习题综合职称英语完形填空历年试题模拟试题例题习题词汇指导阅读理解补全短文概括大意
论文作者:留学生论文论文属性:硕士毕业论文 dissertation登出时间:2010-08-29编辑:vshellyn点击率:7453
论文字数:9000论文编号:org201008292157379944语种:英语 English地区:荷兰价格:$ 44
关键词:Feltham–Ohlsonequity valuationconservatismnet operating assetsgrowth
Feltham–Ohlson 模型的实证检验
Empirical Tests of the Feltham–Ohlson (1995) Model
Abstract.
This paper tests the Feltham–Ohlson (1995) model by transforming the undefined ‘‘otherinformation’’ variables into expectational variables, as suggested by Liu and Ohlson [Liu and Ohlson(2000). Journal of Accounting, Auditing and Finance 15, 321–331]. The signs of the estimated coefficientsconform to the model’s predictions using panel data techniques, non-parametric estimation, reverseregressions and portfolio regressions. The tests reject the Ohlson model in favor of Feltham–Ohlson.Nevertheless, the estimated leverage coefficient takes a value of three instead of one for most variations ofthe model. Also, the 1-year-ahead price predictions of the Feltham–Ohlson model are no more accuratethan those of the Ohlson model or a naive earnings valuation model.
Keywords: Feltham–Ohlson, equity valuation, conservatism, net operating assets, growth
References
Abarbanell, J. S. and B. J. Bushee. (1997). ‘‘Fundamental Analysis, Future Earnings, and Stock Prices’’.
Journal of Accounting Research 35, 1–24.
Ahmed, A. S., R. M. Morton and T. F. Schaefer. (2000). ‘‘Accounting Conservatism and the Valuation of
Accounting Numbers: Evidence of the Feltham-Ohlson (1996) Model’’. Journal of Accounting, Auditing
and Finance 15, 271–292.
Beaver, W. H. (1999). ‘‘Empirical Assessment of the Residual Income Valuation Model: Comment’’.
Journal of Accounting and Economics 26, 35–42.
Begley, J. and G. A. Feltham. (2002). ‘‘The Relation between Market Values, Earnings Forecasts, and
Reported Earnings’’. Contemporary Accounting Research 19, 1–48.
Belsley, D. A., E. Kuh and R. F. Welsch. (1980). Regression Diagnostics. New York: Wiley.
Callen, J. L. andM.Morel. (2001). ‘‘Linear Accounting ValuationWhen Abnormal Earnings Are AR(2)’’.
Review of Quantitative Finance and Accounting 16, 191–203.
Dechow, P. M., A. P. Hutton and R. G. Sloan. (1999). ‘‘An Empirical Assessment of the Residual Income
Valuation Model’’. Journal of Accounting and Economics 26, 1–34.
Fama, E. F. and K. R. French. (1997). ‘‘Costs Of Equity’’. Journal of Financial Economics 43, 153–193.
Feltham, G. A. and J. A. Ohlson. (1995). ‘‘Valuation and Clean Surplus Accounting for Operating and
Financial Activities’’. Contemporary Accounting Research 11, 689–732.
Feltham, G. A. and J. A. Ohlson. (1996). ‘‘Uncertainty Resolution And The Theory Of Depreciation
Measurement’’. Journal of Accounting Research 34, 209–234.
Frankel, R. and C. M. C. Lee. (1998). ‘‘Accounting Valuation, Market Expectation, and Cross-Sectional
Stock Returns’’. Journal of Accounting and Economics 25, 283–319.
Greene, W. (2000). Econometric Analysis, 4th edn. Prentice Hall.
Liu, J. and J. A. Ohlson. (2000). ‘‘The Feltham–Ohlson (1995) Model: Empirical Implications’’. Journal of留学生论文https://www.51lunwen.org/
Accounting, Auditing and Finance 15, 321–331.
Morel, M. (2003). ‘‘Endogenous Parameter Time Series Estimation of the Ohlson Model: Linear and
Nonlinear Analyses’’. Journal of Business Finance and Accounting 30, 1341–1362.
Myers, J. N. (1999). ‘‘Implementing Residual Income Valuation with Linear Information Dynamics’’. The留学生论文https://www.51lunwen.org/
Accounting Review 74, 1–28.