Using a large sample of 3,066 firm-year observations, representing 372 distinct firms listed on IDX during the period 1995-2012, we show that dividends are reliably positively priced by the capital market, violating thus the dividend displacement theorem. This result persists even after...

This study aims to revisit the role of accounting information on equity valuation after the Asian economic crisis. The accounting information examined including earnings, cash flows, and book value of equity. The sample is the end of 2002 LQ45 listed in IDX during 2003-2007 period. The result...

Using the accounting valuation model, this study investigates the value relevance of management expectation, which is reflected in forecasted earnings and pro-forma book value of equity on IPO prices in the UK over the 1987-1997 period.The empirical results show robust relationships between the...

To reduce the well-known information asymmetry in the IPO market, the issuing firms are required to publish offering prospectuses. One type of information disclosed in the prospectus is the management financial forecasts in which the IPO firms predict expected earnings at the end of year after...