La capacidad de los modelos Feltham-Ohlson para predecir el resultado anormaluna aplicación empírica

  1. Giner Inchausti, Begoña
  2. Íñiguez Sánchez, Raúl
Revista:
Revista española de financiación y contabilidad

ISSN: 0210-2412

Año de publicación: 2006

Número: 132

Páginas: 729-760

Tipo: Artículo

DOI: 10.1080/02102412.2006.10779604 DIALNET GOOGLE SCHOLAR

Otras publicaciones en: Revista española de financiación y contabilidad

Objetivos de desarrollo sostenible

Referencias bibliográficas

  • AHMED, A. S.; MORTON, R. M., y SCHAEFER, T. F. [2000]: «Accounting Conservatism and the Valuation of Accounting Numbers: Evidence on the Feltham and Ohlson [1996] model», Journal of Accounting Auditing and Finance, Vol. 15, no 3, Summer (Conference Issue), pp. 271-300.
  • BARTH, M. E.; BEAVER, W H.; HAND, J. R.M., y LANDSMAN, W. R. [1999]: «Accruals, Cash Flow, and Equity Values», Review of Accounting Studies, Vol. 4, no 3/4, December, pp. 205-229.
  • BARTH, M. E.; BEAVER, W H., y LANDSMAN, W R. [1998]: «Relative Valuation Roles of Equity Book Value and Net Income as a Function of" Financial. Health», Journal of Accounting and Economics, 25, pp. 1-34.
  • BAR-YOSEF, S.; CALLEN, J. L., y LIVNAT, J. [1996]: «Modeling dividends, Earnings and Book Value Equity: An empirical, investigation of the Ohlson Valuation Dynamics», Review of Accounting Studies, Vol. 1, no 3, pp. 207-224.
  • BAUMAN, M. P. [1999]: «An empirical. Investigation of Conservatism in Book Value Measurement», Managerial Finance 25, no12, pp. 42-54.
  • BURGSTAHLER, D. C., y DICHEV, I. D. [1997]: «Earnings, Adaptation and Equity Value», The Accounting Review, Vol. 72, no 2, April, pp. 187-215.
  • CALLEN, J. I., y MOREL, M. [2001]: «Linear accounting Valuation When Abnormal Earnings Are AR(2)», Review of Quantitative Finance and Accounting 16, pp. 191-203.
  • CHOI, Y.; O'HANLON, J., y POPE, P. E [2001]: «Linear Information Models in Residual. Income-Based Valuation: A Development of the Dechow, Hutton & Sloan Empirical Approach», Working Paper, Lancaster University.
  • CLAUS, J., y THOMAS, J. K. [2001]: «Equity Premia as Low as Three Percent? Empirical Evidence From. Analysts' Earnings Forecasts for Domestic and International Stock Markets», Journal of Finance, Vol. 56, no 5, pp. 1.629-1.666.
  • COURTEAU, L.; KAO, J., y RICHARDSON, G. D. [2000]: «The Equivalence of Dividend, Cash Flows and Residual Earnings Approaches to Equity Valuation Employing Ideal Terminal Value Expressions», Working Paper, Universite Laval. University of Alberta, University of Waterloo.
  • DARRAT, A. F. y ZHONG, M. [2000]: «On testing the Random-Walk Hypothesis: A Model-Comparision Approach», The Financial Review, Vol. 35, no 3, pp. 105-124.
  • DECHOW, P. M.; Hutton, A. P., y Sloan, R. G. [1999]: «An Empirical Assessment of the Residual Income Valuation Model», Journal of Accounting and Economics, 26, pp. 1-34.
  • EASTON, P. D., and SOMMERS, G. [2003]: «Scale and Scale Effects in Market-Based Accounting Research», Journal of Business, Finance and Accounting,Vol. 30 (1) & (2), January-March, pp. 25-55.
  • EASTON, P. D.; TAYLOR, G., y SHROFF, P. K. [2000]: «Empirical Estimation of the Expected Rate of Return on a Portfolio of Stocks», Working Paper. Ohio State University, University of" Alabama, University of Illinois.
  • FELTHAM, G. A., y OHLSON, J. A. [1995]: «Valuation and Clean Surplus Accounting for Operating and Financial Activities», Contemporary Accounting Research, Vol. 11, no 2, Spring, pp. 689-731.
  • FRANKEL, R., y Lee, C. M. C. [1998]: «Accounting Valuation, Market Expectation, and Cross-Sectional Returns», Journal of Accounting and Economics, 25, pp. 283-319.
  • FRANKEL, R., y LEE, C. M. C. [1999]: «Accounting Diversity and International Valuation», Working Paper, University of Michigan and Cornell University.
  • GEBHARDT, W R.; Lee, C. M.C., y Swaminathan, B. [2001]: «Toward an Implied Cost of Capital», Journal of Accounting Research, Vol. 39, no1, pp. 135-176.
  • KAPLAN, S. N., y RUBACK, S. [1995]: «The Valuation of Cash Flow Forecast: An Empirical Analysis», The Journal of Finance, Septiembre, pp. 1.059-1.093.
  • KOTHAR, S. P. [1992]: «Price-Earnings Regressions in the Presence of Prices Leading Earnings: Earnings Level Versus Earnings Change Specifications and Alternative Deflators?», Journal of Accounting and Economics, Vol. 1.5, pp. 173-202.
  • KOTHARI, S. P,. y ZIMMERMAN, J. [1995]: «Price and Return Models», Journal of Accounting and Economics, Vol. 20, pp. 155-192.
  • Lo, K., y LYS, T. [2000]: «The Ohlson Model: Contribution to Valuation Theory, Limitations, and Empirical Applications», Journal of Accounting, Auditing and Finance, Vol. 15, no 3, pp. 337-370.
  • LUNDHOLM, R. J. [1995]: «A Tutorial on the Ohlson and Feltham/Ohlson Models: Answers to Some Frequently Asked Questions», Contemporary Accounting Research, Vol. 11, no 2, pp. 749-761.
  • McCRAE, M., and NILSSON, H. [2001]: «The Explanatory and Predictive Power of Different Specifications of the Ohlson [1995] Valuation Models», The European Accounting Review, Vol. 10 (2), pp. 315-341.
  • MOREL, M. [1999]: «Multi-Lagged Specification of the Ohlson Model», Journal of Accounting, Auditing and Finance, 14,Vol. 2, Spring, pp. 147-161.
  • MYERS, J. N. [1999]: «Implementing Residual Income Valuation With Linear Information Dynamics», The Accounting Review, Vol. 74, no1, pp. 1-28.
  • OHLSON, J. A. [1995]: «Earnings, Book Values, and Dividends in Equity Valuation», Contemporary Accounting Research, Vol. 11, no 2, pp. 661-687.
  • OHLSON, J. A. [1.998]: «Earnings, Book Values, and Dividends in Equity Valuation: An Empirical Perspective», Working Paper, Columbia University.
  • OHLSON, J. A. [2001.]: «Earnings, Book Values, and Dividends in Equity Valuation: An empirical perspective», Contemporary Accounting Research, Vol. 18, no 1, pp. 107-120.
  • OTA, K. [2002]: «A test of the Ohlson (1995) Model: Empirical Evidence from Japan», The International Journal of Accounting, Vol. 37, no 2, pp. 157-182.
  • PENMAN, S. H., y SOUGIANNIS, T. [1998]: «A Comparision of Dividend, Cash Flow and Earnings Approaches to Equity Valuation», Contemporary Accounting Research, Vol. 15, no 3, pp. 343-383.
  • REVERTE, C. [2002]: «Evidencia empírica sobre la utilidad de la información financiera para la predicción de los resutlados futuros», Revista Española de Financiación y Contabilidad, Vol. XXXI, no 111, pp.
  • SOUGIANNIS, T., y YAEKUHA, T. [2001]: «The Accuracy and Bias of Equity Values Inferred from. Analysts' Earnings Forecasts», Journal of Accounting, Auditing and Finance, 16, pp. 331-362.
  • STOBER, T. L. [1996]: «Do Prices Behave As If Accounting Book Values Are Conservative? Cross Sectional Tests of the Feltham and Ohlson [1995] Valuation Model», Working Paper, University of Notre Dame.
  • WILLIAMS, J. [1938]: The Theory of Investment Value, Harvard University Press, Cambridge, MA.
Fuente de los datos: Dialnet