By Guochang Zhang
The objective of this booklet is to provide a extra systematic and based therapy of the learn on accounting‐based valuation, with a prime specialise in contemporary theoretical advancements and the ensuing empirical analyses that realize the function of accounting info in making managerial decisions.
Since its inception, valuation examine in accounting has developed basically alongside an “empirically pushed” course. within the absence of versions built in particular to give an explanation for this subject, researchers have trusted fiscal instinct and theories from different disciplines (mainly finance and economics) as a foundation for designing empirical analyses and examining findings. even though this literature has shed vital gentle at the usefulness of accounting details in capital markets, it really is visible that the shortcoming of a rigorous theoretical framework has hindered the institution of a scientific and well‐structured literature and made it tough to probe valuation concerns extensive.
More lately, despite the fact that, development has been made at the theoretical entrance. the 2 so much well-known frameworks are (i) the “linear info dynamic process” and (ii) the “real options‐based method” which acknowledges managerial makes use of of accounting info within the pursuit of price iteration. This quantity devotes its preliminary chapters to an overview of the versions utilizing the linear dynamic technique, after which presents a synthesis of the theoretical experiences that undertake the genuine techniques method and the empirical works which draw on them. The booklet additionally attempts to revisit and critique present empirical learn (value-relevance and earnings-response stories) in the genuine options-based framework. it's was hoping that the publication can heighten curiosity in integrating theoretical and empirical learn during this box, and play a task in assisting this literature become a extra established and cohesive physique of labor.
Value is of final trouble to fiscal decision-makers, and valuation concept may still function a platform for learning different accounting themes. The e-book ends with a choice for elevated hyperlinks of different components of accounting study to valuation theory.
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Extra info for Accounting Information and Equity Valuation: Theory, Evidence, and Applications: 6 (Springer Series in Accounting Scholarship)
Accounting Information and Equity Valuation: Theory, Evidence, and Applications: 6 (Springer Series in Accounting Scholarship) by Guochang Zhang