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Extended Dividend, Cash Flow and Residual Income ValuationModels - Accounting for Deviations from Ideal Conditions
Hess, Dieter; Homburg, Carsten; Lorenz, Michael; … - Universität <Köln> / Seminar für Allgemeine … - 2009
, such as infinite payoffs and cleansurplus accounting. Since these conditions are hardly ever met, we provideextensions of …
Persistent link: https://www.econbiz.de/10005866810
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Accounting for Stock-Based Compensation:An Extended Clean Surplus Relation
Hess, Dirk; Lüders, Erik - Zentrum für Europäische Wirtschaftsforschung <Mannheim> - 2001
Residual income valuation is based on the assumption that the clean surplusrelation holds. As pointed out by Ohlson (2000), among others, the standardclean surplus relation is frequently violated. Moreover, standard residualincome valuation models rest on the implicit assumption that future...
Persistent link: https://www.econbiz.de/10005867832
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The Conditional Value of R&D Investments
Damianova, Kremena - Institut für Schweizerisches Bankwesen <Zürich> - 2005
Companies' investments in research and development (R&D) are usually associated with better growth opportunities incorporated in the firms' market valuation. This study focuses on the question how does the firms' market value attributable to R&D investments depend on the firms' ability to employ...
Persistent link: https://www.econbiz.de/10005858881
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Extended Dividend, Cash Flow and Residual Income Valuation Models -Accounting for Deviations from Ideal Conditions
Heinrichs, Nicolas; Hess, Dieter; Homburg, Carsten; … - Centre for Financial Research <Köln> - 2011
conditions, such as infinite payoffs and clean surplus accounting. Becausethese conditions are hardly ever met, we extend the …
Persistent link: https://www.econbiz.de/10009284863
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Conservatism Correction in Linear Information Models
Henschke, Stefan; Homburg, Carsten; Nasev, Julia - Universität <Köln> / Seminar für Allgemeine … - 2007
Recent research concerned with enhancing conservatism corrections of linearinformation models (LIMs) reports a decrease in bias as compared to the Ohlson (1995)model. However, inaccuracy is not significantly reduced. These findings raise twoquestions: First, are LIMs able to capture...
Persistent link: https://www.econbiz.de/10009360712
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Die Ziele des Neuen Kommunalen Rechnungswesens (Doppik) und ihre Einführung in die öffentliche Haushaltswirtschaft
Wyborny, Andreas - Hochschule <Wismar> / Fachbereich Wirtschaft - 2006
ein Neues Kommunales Rechnungswesen (NKR) mit einer ressourcenorientierten und outputorientierten Darstellung zuersetzen …. Vom Rechnungswesen bis hin zur Kosten- und Leistungsrechnung sollen damit den Kommunen die notwendigen Instrumente zur …
Persistent link: https://www.econbiz.de/10005863561
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An Investigation into the Capital Market Reaction on Accounting Standards Enforcement
Böckem, Hanne - Universität <Frankfurt, Main> / Fachbereich … - 1998
Compliance with prevailing accounting standards is induced if the expected disadvantage due to sanctions imposed if non …-compliance is detected outweighs the advantage of non-compliant accounting choices.(...) …
Persistent link: https://www.econbiz.de/10005840396
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Strategic Management Accounting, Coordination and long-term Cost Structure
Ewert, Ralf; Ernst, Christian - 1997
During the last years issues of strategic management accounting have received widespread attention in the accounting … the most prominent approaches of strategic management accounting, i.e., Target Costing. First, the relationship between … more „strategic“ is the firm´s cost function, the less valid is „strategic“ management accounting in terms of the usual way …
Persistent link: https://www.econbiz.de/10005840427
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Manipulation des Börsenkurses durch gezielte Informationspolitik im Rahmen von Squeeze-Outs? – Eine empirische Untersuchung am deutschen Kapitalmarkt
Daske, Holger; Bassemir, Moritz; Fischer, Felix - Universität <Frankfurt, Main> / Fachbereich … - 2009
Der vorliegende Beitrag untersucht, ob der Mehrheitsaktionär einer Gesellschaftim Vorfeld eines Zwangsausschlusses von Minderheitsaktionären (sog.Squeeze-Out) versucht, die Kapitalmarkterwartungen negativ zu beeinussen.Ein solches "manipulatives\ Verhalten wird häufig in der juristischen wie...
Persistent link: https://www.econbiz.de/10005866790
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When Uncertainty Blows in the Orchard: Comovementand the Equilibrium Volatility Risk Premia
Buraschi, Andrea; Trojani, Fabio; Vedolin, Andrea - Swiss National Centre of Competence in Research North … - 2010
In a Lucas orchard with heterogeneous beliefs, we study the link between market-wide uncertainty, difference of opinionsand co-movement of stock returns. We show that this link plays an important role in explaining the dynamics of equilibriumvolatility and correlation risk premia. In our...
Persistent link: https://www.econbiz.de/10009305103