Earnings, Earnings Growth and Value

Forsideomslag
Now Publishers Inc, 2006 - 77 sider
1 Anmeldelse
Earnings, Earnings Growth and Value presents a model of earnings and dividends leading up to the core principle that growth in earnings explains the price to forward-earnings ratio. This model is referred to as the OJ (Ohlson and Jeuttner-Nauroth) model. The OJ model takes into account two growth measures of earnings -- the near term and the long term -- to explain the price to forward-earnings ratio. Further, the model allows for a broad set of dividend policies. Earnings, Earnings Growth and Value starts from the basics and derives the valuation formula which shows how value depends on earnings and their growth. Some of the topics developed here are include dividend policy irrelevancy (DPI), how one extends the model to incorporate an underlying information dynamic, accounting rules and their influence on the model, and ways in which the model can be extended to reflect operating vs. financial activities. Earnings, Earnings Growth and Value should be required reading for researchers in accounting and finance with an interest in accounting theory, equity valuation and financial accounting.
 

Hvad folk siger - Skriv en anmeldelse

Vi har ikke fundet nogen anmeldelser de normale steder.

Indhold

Introduction
1
Basics of the OJ Model
9
The OJ Model and Dividend Policy Irrelevancy
31
The Labeling of xt as Expected Earnings
37
Capitalized Expected Earnings as
45
Accounting Rules and the OJ Formula
53
Operating Versus Financial Activities
61
The generalization of Lemma 4 1
67
Acknowledgements
73
Copyright

Almindelige termer og sætninger

Bibliografiske oplysninger