메뉴 건너뛰기




Volumn 6, Issue 1, 2001, Pages 109-154

Ratio analysis and equity valuation: From research to practice

Author keywords

Equity valuation; Financial statement analysis; Ratio analysis

Indexed keywords


EID: 0001618889     PISSN: 13806653     EISSN: None     Source Type: Journal    
DOI: 10.1023/A:1011338221623     Document Type: Article
Times cited : (397)

References (36)
  • 2
    • 0034340636 scopus 로고    scopus 로고
    • Biases and Lags in Book Value and their Effects on the Ability of the Book-to-Market Ratio to Predict Book Return on Equity
    • Beaver, W. H., and S. G. Ryan. (2000). "Biases and Lags in Book Value and their Effects on the Ability of the Book-to-Market Ratio to Predict Book Return on Equity." Journal of Accounting Research 38, 127-148.
    • (2000) Journal of Accounting Research , vol.38 , pp. 127-148
    • Beaver, W.H.1    Ryan, S.G.2
  • 3
    • 0000534448 scopus 로고
    • The Role of the Accounting Rate of Return in Financial Statement Analysis
    • Brief, R. P., and R. A. Lawson. (1992). "The Role of the Accounting Rate of Return in Financial Statement Analysis." The Accounting Review 67, 411-426.
    • (1992) The Accounting Review , vol.67 , pp. 411-426
    • Brief, R.P.1    Lawson, R.A.2
  • 4
    • 0000337650 scopus 로고
    • Earnings Forecasting Research: Its Implications for Capital Markets Research
    • Brown, L. D. (1993). "Earnings Forecasting Research: Its Implications for Capital Markets Research." International Journal of Forecasting 9, 295-320.
    • (1993) International Journal of Forecasting , vol.9 , pp. 295-320
    • Brown, L.D.1
  • 6
    • 0039250386 scopus 로고    scopus 로고
    • Equity Premium as Low as Three Percent? Evidence from Analysists' Earnings Forecasts for Domestic and International Stocks"
    • Forthcoming
    • Claus, J. J., and J. K. Thomas. (2001). "Equity Premium as Low as Three Percent? Evidence from Analysists' Earnings Forecasts for Domestic and International Stocks" Journal of Finance. Forthcoming.
    • (2001) Journal of Finance
    • Claus, J.J.1    Thomas, J.K.2
  • 7
    • 0011454437 scopus 로고
    • Retrospectives: The Lost Art of Economics
    • Colander, D. (1992). "Retrospectives: The Lost Art of Economics." Journal of Economic Perspectives 6, 191-198.
    • (1992) Journal of Economic Perspectives , vol.6 , pp. 191-198
    • Colander, D.1
  • 9
    • 0030305179 scopus 로고    scopus 로고
    • Accounting Classification and the Predictive Content of Earnings
    • Fairfield, P. M., R. J. Sweeney, and T. L. Yohn. (1996). "Accounting Classification and the Predictive Content of Earnings." The Accounting Review 71, 337-355.
    • (1996) The Accounting Review , vol.71 , pp. 337-355
    • Fairfield, P.M.1    Sweeney, R.J.2    Yohn, T.L.3
  • 10
    • 0040805996 scopus 로고    scopus 로고
    • Forecasting Profitability and Earnings
    • Fama E. F., and K. R. French. (2000). "Forecasting Profitability and Earnings." Journal of Business 73.
    • (2000) Journal of Business , vol.73
    • Fama, E.F.1    French, K.R.2
  • 11
    • 84984207803 scopus 로고
    • Valuation and Clean Surplus Accounting for Operating and Financial Activities
    • Feltham, G. A., and J. A. Ohlson. (1995). "Valuation and Clean Surplus Accounting for Operating and Financial Activities." Contemporary Accounting Research 11, 689-731.
    • (1995) Contemporary Accounting Research , vol.11 , pp. 689-731
    • Feltham, G.A.1    Ohlson, J.A.2
  • 12
    • 0034340519 scopus 로고    scopus 로고
    • Comparing the Accuracy and Explainability of Dividend, Free Cash Flow, and Abnormal Earnings Equity Value Estimates
    • Francis, J., P. Olsson, and D. R. Oswald. (2000). "Comparing the Accuracy and Explainability of Dividend, Free Cash Flow, and Abnormal Earnings Equity Value Estimates." Journal of Accounting Research 38, 45-70.
    • (2000) Journal of Accounting Research , vol.38 , pp. 45-70
    • Francis, J.1    Olsson, P.2    Oswald, D.R.3
  • 13
    • 0001386234 scopus 로고    scopus 로고
    • Accounting Valuation, Market Expectation and Cross-Sectional Stock Returns
    • Frankel, R., and C. M. C. Lee. (1998). "Accounting Valuation, Market Expectation and Cross-Sectional Stock Returns." Journal of Accounting and Economics 25, 283-319.
    • (1998) Journal of Accounting and Economics , vol.25 , pp. 283-319
    • Frankel, R.1    Lee, C.M.C.2
  • 14
    • 0000960258 scopus 로고
    • Book Rate-of-Return and Prediction of Earnings Changes: An Empirical Investigation
    • Freeman, R. N., J. A. Ohlson, and S. H. Penman. (1982). "Book Rate-of-Return and Prediction of Earnings Changes: An Empirical Investigation." Journal of Accounting Research 20, 639-653.
    • (1982) Journal of Accounting Research , vol.20 , pp. 639-653
    • Freeman, R.N.1    Ohlson, J.A.2    Penman, S.H.3
  • 19
    • 0001475318 scopus 로고
    • Accountants, too, Could be Happy in a Golden Age: The Accountants Rate of Profit and the Internal Rate of Return
    • Kay, J. A. (1976). "Accountants, too, Could be Happy in a Golden Age: The Accountants Rate of Profit and the Internal Rate of Return." Oxford Economic Papers 17, 447-460.
    • (1976) Oxford Economic Papers , vol.17 , pp. 447-460
    • Kay, J.A.1
  • 20
  • 22
    • 0003159891 scopus 로고
    • The Information Contained in the Components of Earnings
    • Lipe, R. C. (1986). "The Information Contained in the Components of Earnings." Journal of Accounting Research 24, 37-64.
    • (1986) Journal of Accounting Research , vol.24 , pp. 37-64
    • Lipe, R.C.1
  • 23
    • 0040150748 scopus 로고    scopus 로고
    • Conservative Accounting and Finite Firm Life: Why Residual Income Valuation Estimates Understate Stock Price
    • University of Washington
    • Myers, J. N. (1999). "Conservative Accounting and Finite Firm Life: Why Residual Income Valuation Estimates Understate Stock Price." Working Paper, University of Washington.
    • (1999) Working Paper
    • Myers, J.N.1
  • 24
    • 84984180909 scopus 로고
    • Earnings, Book Values, and Dividends in Equity Valuation
    • Ohlson, J. A. (1995). "Earnings, Book Values, and Dividends in Equity Valuation." Contemporary Accounting Research 11,661-687.
    • (1995) Contemporary Accounting Research , vol.11 , pp. 661-687
    • Ohlson, J.A.1
  • 25
    • 0033196216 scopus 로고    scopus 로고
    • On the Theory of the Forecast-Horizon in Equity Valuation
    • Ohlson J. A., and X. J. Zhang. (1999). "On the Theory of the Forecast-Horizon in Equity Valuation." Journal of Accounting Research 37, 437-449.
    • (1999) Journal of Accounting Research , vol.37 , pp. 437-449
    • Ohlson, J.A.1    Zhang, X.J.2
  • 26
    • 85017212530 scopus 로고    scopus 로고
    • Estimating the Equity Risk Premium Using Accounting Fundamentals
    • Lancaster University
    • O'Hanlon J., and A. Steele. (1998). "Estimating the Equity Risk Premium Using Accounting Fundamentals." Working Paper, Lancaster University.
    • (1998) Working Paper
    • O'Hanlon, J.1    Steele, A.2
  • 27
    • 0001529262 scopus 로고
    • The Information Content of Nonearnings Accounting Numbers as Earnings Predictors
    • Ou, J. A. (1990). "The Information Content of Nonearnings Accounting Numbers as Earnings Predictors." Journal of Accounting Research 28, 144-163.
    • (1990) Journal of Accounting Research , vol.28 , pp. 144-163
    • Ou, J.A.1
  • 28
    • 0000070375 scopus 로고
    • Financial Statement Analysis and the Prediction of Stock Returns
    • Ou, J. A., and S. H. Penman. (1989). "Financial Statement Analysis and the Prediction of Stock Returns." Journal of Accounting and Economics 11, 295-329.
    • (1989) Journal of Accounting and Economics , vol.11 , pp. 295-329
    • Ou, J.A.1    Penman, S.H.2
  • 29
    • 0004062509 scopus 로고
    • Financial Statement Analysis and the Evaluation of Market-to-Book Ratios
    • University of California at Berkeley
    • Ou, J. A., and S. H. Penman. (1995). "Financial Statement Analysis and the Evaluation of Market-to-Book Ratios." Working Paper, University of California at Berkeley.
    • (1995) Working Paper
    • Ou, J.A.1    Penman, S.H.2
  • 30
    • 0030241930 scopus 로고    scopus 로고
    • The Articulation of Price-Earnings Ratios and Market-to-Book Ratios and the Evaluation of Growth
    • Penman, S. H. (1996). "The Articulation of Price-Earnings Ratios and Market-to-Book Ratios and the Evaluation of Growth." Journal of Accounting Research 34, 235-259.
    • (1996) Journal of Accounting Research , vol.34 , pp. 235-259
    • Penman, S.H.1
  • 32
    • 54649084824 scopus 로고    scopus 로고
    • A Synthesis of Equity Valuation Techniques and the Terminal Value Calculation of the Dividend Discount Model
    • Penman S. H. (1997). "A Synthesis of Equity Valuation Techniques and the Terminal Value Calculation of the Dividend Discount Model." Review of Accounting Studies 2, 303-323.
    • (1997) Review of Accounting Studies , vol.2 , pp. 303-323
    • Penman, S.H.1
  • 33
    • 0001243028 scopus 로고    scopus 로고
    • A Comparison of Dividend, Cash Flow, and Earnings Approaches to Equity Valuation
    • Penman S. H., and T. Sougiannis. (1998). "A Comparison of Dividend, Cash Flow, and Earnings Approaches to Equity Valuation." Contemporary Accounting Research 15, 343-383.
    • (1998) Contemporary Accounting Research , vol.15 , pp. 343-383
    • Penman, S.H.1    Sougiannis, T.2
  • 34
    • 0000673228 scopus 로고
    • Annual Survey of Economic Theory: The Theory of Depreciation
    • Preinreich, G. (1938). "Annual Survey of Economic Theory: The Theory of Depreciation." Econometrica, 219-241.
    • (1938) Econometrica , pp. 219-241
    • Preinreich, G.1
  • 35
    • 0344354183 scopus 로고
    • The Effects of Business Environments and Strategy on a Firm's Rate of Return on Assets
    • Selling, T. I., and C. P. Stickney. (1989). "The Effects of Business Environments and Strategy on a Firm's Rate of Return on Assets." Financial Analysts Journal, 43-52.
    • (1989) Financial Analysts Journal , pp. 43-52
    • Selling, T.I.1    Stickney, C.P.2
  • 36
    • 0000452366 scopus 로고    scopus 로고
    • Conservative Accounting and Earnings Valuation
    • Zhang, X. (2000). "Conservative Accounting and Earnings Valuation." Journal of Accounting and Economics 29, 125-149.
    • (2000) Journal of Accounting and Economics , vol.29 , pp. 125-149
    • Zhang, X.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.