논문 해외 국제전문학술지(SCI급) VALUATION ROLE OF ACCOUNTING INFORMATION IN PROFIT AND LOSS FIRMS
- 학술지 구분 국제전문학술지(SCI급)
- 게재년월 2017-02
- 저자명 권기정
- 학술지명 INTERNATIONAL BUSINESS AND MANAGEMENT
- 발행처명 Canadian Research & Development Centre of Sciences and Cultures
- 발행국가 해외
- 논문언어 외국어
- 전체저자수 1
홈페이지논문 초록 (Abstract)
Purpose of the research: This study identifiesthe most important value-relevant factor across profit and loss companies listed onthe Korean Securities Exchange over the period 2000 to 2015.Weaim to improve understanding of the role of accounting information provided by financial statements in firm value across companies. Materials and methods: We use the residual income valuation model of Ohlson (1995). Results: The impact of accounting information on enterprise value is significantly different across profit and loss companies. We believe that this phenomenon occurs because of the assumption of linear information dynamics in theresidual income model. These findings show that accounting information of profitable companies is likely to reflect on the future firm value; however, accounting information of loss companies tends to provide no such information to financial markets.