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<heading id="h1" level="3" format="inline" implicit="no">Abstract: </heading>This paper conducts a UK test of a version of the <link rid="b45">Ohlson (1995)</link> model. We should only expect abnormal earnings to revert to zero if the book value of assets is economically meaningful. In this paper we make use of the property revaluations common in UK accounts, but estimate other...
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