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기업가치 평가이론과 회계정보의 공시 : Equity Valuation and Disclosure of Accounting Information
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 김성기 | - |
dc.date.accessioned | 2010-01-25T04:35:16Z | - |
dc.date.available | 2010-01-25T04:35:16Z | - |
dc.date.issued | 2003-03 | - |
dc.identifier.citation | 경영논집, Vol.37 No.1, pp. 1-27 | - |
dc.identifier.issn | 1229-0491 | - |
dc.identifier.uri | https://hdl.handle.net/10371/43302 | - |
dc.description.abstract | Based on the following two assumptions, Ohlson(1995) developes a theoretical model
which explains a relation between equity value and accounting data. ① The market value of a stock is equal to the present value of future expected dividends. ② The ending book value of the equity can be stated as follows : The ending book value = the beginning book value + net income – dividends This relationship is called the clean surplus relations(CRS). Feltham and Ohlson(1995) expand the Ohlson model. Under the Ohlson model, the market value of a stock is characterized by book value and expected abnormal earnings. In spite of the fact that if is not certain how severe the CRS assumption is, a model based on net income is very attractive. Although, the Ohlson model is very simple, it possesses a generality. The main contribution of Ohlson(1995) and Feltham-Ohlson(1995) is to develop a logically consistent framework that links the dividend discount model to accounting numbers. In particulars they show that under a set of assumptions, if the value/price of a firm is determined by the dividend discount model, the same value/price can be expressed by a combination of accounting numbers (such at an beginning book value and current earnings)and non-accounting information. | - |
dc.language.iso | ko | - |
dc.publisher | 서울대학교 경영대학 경영연구소 | - |
dc.title | 기업가치 평가이론과 회계정보의 공시 | - |
dc.title.alternative | Equity Valuation and Disclosure of Accounting Information | - |
dc.type | SNU Journal | - |
dc.citation.journaltitle | 경영논집 | - |
dc.citation.endpage | 27 | - |
dc.citation.number | 1 | - |
dc.citation.pages | 1-27 | - |
dc.citation.startpage | 1 | - |
dc.citation.volume | 37 | - |
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