The Ohlson model: contribution to valuation theory, limitations, and empirical applications
The work of Ohlson (1995) and Feltham and Ohlson (1995) had a profound impact on
accounting research in the 1990s. In this paper, we first discuss this valuation framework …
accounting research in the 1990s. In this paper, we first discuss this valuation framework …
A comprehensive look at the empirical performance of equity premium prediction
Our article comprehensively reexamines the performance of variables that have been
suggested by the academic literature to be good predictors of the equity premium. We find …
suggested by the academic literature to be good predictors of the equity premium. We find …
Capital markets research in accounting
SP Kothari - Journal of accounting and economics, 2001 - Elsevier
I review empirical research on the relation between capital markets and financial statements.
The principal sources of demand for capital markets research in accounting are fundamental …
The principal sources of demand for capital markets research in accounting are fundamental …
Investor psychology and asset pricing
D Hirshleifer - The journal of Finance, 2001 - Wiley Online Library
The basic paradigm of asset pricing is in vibrant flux. The purely rational approach is being
subsumed by a broader approach based upon the psychology of investors. In this approach …
subsumed by a broader approach based upon the psychology of investors. In this approach …
[BOOK][B] Beyond greed and fear: Understanding behavioral finance and the psychology of investing
H Shefrin - 2002 - books.google.com
Even the best Wall Street investors make mistakes. No matter how savvy or experienced, all
financial practitioners eventually let bias, overconfidence, and emotion cloud their …
financial practitioners eventually let bias, overconfidence, and emotion cloud their …
Toward an implied cost of capital
WR Gebhardt, CMC Lee… - Journal of accounting …, 2001 - Wiley Online Library
In this study, we propose an alternative technique for estimating the cost of equity capital.
Specifically, we use a discounted residual income model to generate a market implied cost …
Specifically, we use a discounted residual income model to generate a market implied cost …
Environmental and social disclosures: Link with corporate financial performance
Environmental and social disclosures entail costs, yet increasingly, large listed firms are
making higher and better quality disclosures. In this paper we examine the link between a …
making higher and better quality disclosures. In this paper we examine the link between a …
Investor sentiment and the near-term stock market
GW Brown, MT Cliff - Journal of empirical finance, 2004 - Elsevier
We investigate investor sentiment and its relation to near-term stock market returns. We find
that many commonly cited indirect measures of sentiment are related to direct measures …
that many commonly cited indirect measures of sentiment are related to direct measures …
Accruals, accounting-based valuation models, and the prediction of equity values
This study uses out-of-sample equity value estimates to determine whether earnings
disaggregation, imposing linear information valuation model (LIM) structure and separate …
disaggregation, imposing linear information valuation model (LIM) structure and separate …
Price momentum and trading volume
This study shows that past trading volume provides an important link between “momentum”
and “value” strategies. Specifically, we find that firms with high (low) past turnover ratios …
and “value” strategies. Specifically, we find that firms with high (low) past turnover ratios …