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The value relevance of earnings disaggregation provided in the Spanish profit and loss account
16 references·2 citing·51 second hopsampled
The value relevance of earnings disaggregation provided in the Spanish profit and loss account (1999)The value relevance of earnings disaggreg…Equity Valuation and Negative Earnings: The Role of Book Value of Equity (1999)Equity Valuation and Negative…An empirical assessment of the residual income valuation model (1999)An empirical assessment of th…Valuation of Permanent, Transitory, and Price-Irrelevant Components of Reported Earnings (1998)Valuation of Permanent, Trans…Relative valuation roles of equity book value and net income as a function of financial health (1998)Relative valuation roles of e…Combining Earnings and Book Value in Equity Valuation* (1998)Combining Earnings and Book V…The Impact of Dividends, Debt and Investment on Valuation Models (1997)The Impact of Dividends, Debt…Changes in the value-relevance of earnings and book values over the past forty years (1997)Changes in the value-relevanc…Earnings, Book Values, and Dividends in Equity Valuation* (1995)Earnings, Book Values, and Di…The market valuation implications of net periodic pension cost components (1992)The market valuation implicat…Return to Fundamentals (1992)Return to FundamentalsDisaggregated Accounting Data as Explanatory Variables for Returns (1992)Disaggregated Accounting Data…The association between accounting earnings and security returns for large and small firms (1987)The association between accou…Firm size and the information content of prices with respect to earnings (1987)Firm size and the information…Cross-Sectional Dependence and Problems in Inference in Market-Based Accounting Research (1987)Cross-Sectional Dependence an…The Information Contained in the Components of Earnings (1986)The Information Contained in …Book Rate-of-Return and Prediction of Earnings Changes: An Empirical Investigation (1982)Book Rate-of-Return and Predi…Market value, book value and earnings: is bank efficiency a missing link? (2009)Market value, book value and …Valuation implications of capital structure: a contextual approach (2001)Valuation implications of cap…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Differential information and the small firm effect (1984)Earnings news and small traders (1992)Financial Reporting: An Accounting Revolution. (1982)Dividend Policy under Asymmetric Information (1985)Earnings Innovations, Earnings Persistence, and Stock Returns (1987)Association between accounting performance measures and stock prices (1992)Ratio Analysis and Equity Valuation: From Research to Practice (2001)The Predictive Value of Expenses Excluded from Pro Forma Earnings (2003)SOME TIME SERIES PROPERTIES OF ACCOUNTING INCOME (1972)THE SUPERIORITY OF ANALYST FORECASTS AS MEASURES OF EXPECTATIONS: EVIDENCE FROM EARNINGS (1978)The information content of security prices (1980)The implied cost of capital: A new approach (2011)Accounting earnings and cash flows as measures of firm performance (1994)The information content of losses (1995)Does EVA® beat earnings? Evidence on associations with stock returns and firm values (1997)Perspectives on Recent Capital Market Research (2002)The value relevance of environmental performance (2005)Financing Constraints and Corporate Investment (1987)Financing Constraints and Corporate Investment (1988)Accounting valuation, market expectation, and cross-sectional stock returns (1998)Capital markets research in accounting (2001)The Capital Asset Pricing Model: Theory and Evidence (2004)The conservatism principle and the asymmetric timeliness of earnings1 (1997)The Boundaries of Financial Reporting and How to Extend Them (1999)The effect of international institutional factors on properties of accounting earnings (2000)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)The Behavior of Stock-Market Prices (1965)Special Information and Insider Trading (1974)The theory and practice of econometrics (1986)Consistent Covariance Matrix Estimation with Cross-Sectional Dependence and Heteroskedasticity in Financial Data (1989)Abnormal returns to a fundamental analysis strategy. (1998)Managerial Decisions and Long-Term Stock Price Performance (1998)An Empirical Evaluation of Accounting Income Numbers (1968)On the Impossibility of Informationally Efficient Markets (1980)The relationship between return and market value of common stocks (1981)An evaluation of alternative proxies for the market's assessment of unexpected earnings (1987)Institutional Ownership and the Extent to which Stock Prices Reflect Future Earnings (2002)Information Markets and the Comovement of Asset Prices (2006)Financial Ratios As Predictors of Failure (1966)FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY (1968)Do investors overvalue firms with bloated balance sheets? (2004)Innovative efficiency and stock returns (2012)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)The Theory and Measurement of Business Income (1961)Valuation and Clean Surplus Accounting for Operating and Financial Activities* (1995)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)
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References

  • 1995Earnings, Book Values, and Dividends in Equity Valuation*5,061 cited
  • 1997Changes in the value-relevance of earnings and book values over the past forty years1,788 cited
  • 1999An empirical assessment of the residual income valuation model918 cited
  • 1998Relative valuation roles of equity book value and net income as a function of financial health897 cited
  • 1999Equity Valuation and Negative Earnings: The Role of Book Value of Equity745 cited
  • 1987Cross-Sectional Dependence and Problems in Inference in Market-Based Accounting Research548 cited
  • 1987The association between accounting earnings and security returns for large and small firms528 cited
  • 1986The Information Contained in the Components of Earnings511 cited
  • 1987Firm size and the information content of prices with respect to earnings453 cited
  • 1982Book Rate-of-Return and Prediction of Earnings Changes: An Empirical Investigation405 cited
  • 1992The market valuation implications of net periodic pension cost components276 cited
  • 1992Return to Fundamentals237 cited
  • 1992Disaggregated Accounting Data as Explanatory Variables for Returns184 cited
  • 1998Combining Earnings and Book Value in Equity Valuation*173 cited
  • 1997

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The Impact of Dividends, Debt and Investment on Valuation Models
156 cited
  • 1998Valuation of Permanent, Transitory, and Price-Irrelevant Components of Reported Earnings140 cited
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    • 2009Market value, book value and earnings: is bank efficiency a missing link?49 cited
    • 2001Valuation implications of capital structure: a contextual approach23 cited