, the modelling depends on two critical ingredients. First, it requires an unbiased valuation anchor which in the long run …

disclosure, where additional disclosure reduces estimation risk or information asymmetry. Empirical studies based on these models …

valuation-useful accounting information. Namely, this paper expects wealthy economies to have more controlling-useful, but not … necessarily more valuation-useful accounting information. For wealthy economies, the authors expect the reporting environments … participants require more valuation-useful and the banking sector participants more controlling-useful accounting information. To …

establishing tax neutrality in corporate valuation …