Bookcover of Accounting Conservatism in Accounting-Based valuation models
Booktitle:

Accounting Conservatism in Accounting-Based valuation models

Interaction between conservatism and growth

LAP LAMBERT Academic Publishing (2010-09-14 )

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ISBN-13:

978-3-8383-2475-3

ISBN-10:
3838324757
EAN:
9783838324753
Book language:
English
Blurb/Shorttext:
Accounting based valuation models use accounting numbers (earnings and book values) to infer the value of ongoing businesses (as a whole or on a per share basis). The most common accounting valuation model is the Discounted Residual Income model. Although this model is, in theory, insensitive to the accounting regime, the necessary truncation through terminal values leaves it dependent on the accounting. This monograph studies the effect of the accounting regime on the accuracy of the residual income model. It characterizes first the concept of accounting conservatism (through an index) and second, analyzes the interaction among the drivers of residual income: profitability and growth in assets. The results show how the parameters capturing the evolution of profitability and growth vary with the level of conservatism and also that valuation models that that account for that interaction are more accurate than models with continuing values estimated under more simple assumptions.
Publishing house:
LAP LAMBERT Academic Publishing
Website:
https://www.lap-publishing.com/
By (author) :
Luis Palencia
Number of pages:
184
Published on:
2010-09-14
Stock:
Available
Category:
Business management
Price:
68.00 €
Keywords:
Valuation, Accounting-based Valuation models, Accounting Conservatism, Ohlson model

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