formulating their trading strategies without paying attention to the accounting procedures used to generate those numbers. This … paper shows analytically that under the conservative accounting, the reported accounting earnings numbers are value … volatility of the economic earnings of the asset. These results support the alternative accounting of mark to market …

, such as the capital asset pricing model (CAPM). However, this model is only used for listed companies, and cannot be used … accounting beta. The main objective of this research was to explore the relationship between market beta and accounting beta … calculated using ROA, ROE and net income to demonstrate the ability of accounting beta to measure risk for unlisted companies. To …