Accounting based valuation models: What have we learned?

Richardson, Gordon and Tinaikar, Surjit (2004) Accounting based valuation models: What have we learned?. Accounting and Finance, 44 2: 223-255.

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Author Richardson, Gordon
Tinaikar, Surjit
Title Accounting based valuation models: What have we learned?
Journal name Accounting and Finance  (ERA 2012 Listed)    (ERA 2010 Rank B)   Check publisher's open access policy
Publication date 2004-07
Sub-type Article
DOI 10.1111/j.1467-629X.2004.00109.x
Volume number 44
Issue number 2
ISSN 0810-5391
1467-629X
0110-5159
Start page 223
End page 255
Total pages 33
Place of publication Oxford, U.K.
Publisher Blackwell
Language eng
Subject 1503 Business and Management
Abstract The present survey article formed the basis of a presentation by G. Richardson to the 8 July 2003 plenary session of the Accounting and Finance Association of Australia and New Zealand Conference in Brisbane, Australia. The present article reconciles the historical and forecasting branches in the published accounting literature. Prior survey articles have primarily focused either on the historical branch or the forecasting branch. While these approaches have yielded useful insights, they do not attempt to synthesize the link between the two branches of the published literature. An obvious link between the two branches is that the Ohlson model begins with the Residual Income Model as an initial assumption. We believe that there are other links that need further emphasis. In the process, we also review the empirical issues and the evidence within these two branches. We know of no paper to date that has surveyed the empirical evidence on both the historical and forecasting branches of the published literature. In particular, we draw inferences on the following question: on balance, what have we learned from nearly a decade of research on accounting based valuation models and its applications?
Keyword Accounting based valuation
Residual income
Linear information dynamics
Conservatism
Accounting based measures of expected returns
Q-Index Code C1

Document type: Journal Article
Sub-type: Article
Collections: Excellence in Research Australia (ERA) - Collection
UQ Business School Publications
 
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