We address how value relevance of accounting information evolved as the new economy developed. Prior research concludes … accounting information—primarily earnings—has lost relevance. We consider more accounting amounts and find no decline in combined … price and accounting information that reflects the new economy …

The purpose of this book is to offer a more systematic and structured treatment of the research on accounting based … of accounting information in making managerial decisions. Since its inception, valuation research in accounting has … accounting information in capital markets, it is obvious that the lack of a rigorous theoretical framework has hindered the …