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The Equity Prices and Accounting Variables

Samithamby Senthilnathan

Published by LAP Lambert Academic Publishing
ISBN 10: 3659103721 / ISBN 13: 9783659103728
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Title: The Equity Prices and Accounting Variables

Publisher: LAP Lambert Academic Publishing

Binding: Paperback

Book Condition: New

Book Type: Paperback

Description:

Paperback. 188 pages. Dimensions: 8.7in. x 6.0in. x 0.6in.Considering reformulation of the Ohlson (1995) model, this book demonstrates how to improve the empirical specification of value relevance models that explore the relevance of accounting information by accommodating the most recent prior periods equity price as an additional explanatory variable. When the model specification is improved by including the most recent prior periods price as an additional explanatory variable, current trailing earnings are shown to be at best marginally value relevant when empirically explaining share prices in value relevance regression models. This book also demonstrates that inclusion of the most recent prior periods price as an additional explanatory variable eliminates the scale problem in value relevance models whereby the scale (or size) of dependent and independent variables in value relevance studies affects the apparent explanatory power of the models. Therefore, this book specifically indicates that value relevance studies that use the Ohlson (1995) model should use, for econometric reasons, change in price or else returns, not the price level, as the dependent variable. This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Bookseller Inventory # 9783659103728

About this title:

Synopsis: Considering reformulation of the Ohlson (1995) model, this book demonstrates how to improve the empirical specification of value relevance models that explore the relevance of accounting information by accommodating the most recent prior period's equity price as an additional explanatory variable. When the model specification is improved by including the most recent prior period's price as an additional explanatory variable, current trailing earnings are shown to be at best marginally value relevant when empirically explaining share prices in value relevance regression models. This book also demonstrates that inclusion of the most recent prior period's price as an additional explanatory variable eliminates the scale problem in value relevance models whereby the scale (or size) of dependent and independent variables in value relevance studies affects the apparent explanatory power of the models. Therefore, this book specifically indicates that value relevance studies that use the Ohlson (1995) model should use, for econometric reasons, change in price or else returns, not the price level, as the dependent variable.

About the Author: Dr.S.Senthilnathan has diverse knowledge with the skills for knowledge dissemination and administration, and written a number of articles in many subjects, such as in Organizational Behaviour and Management, Economics, Marketing and Finance, in particular. He has wide experience in teaching Management, Statistics and Finance related subjects.

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