Residual income valuation: Are inflation adjustments necessary?

Review of Accounting Studies

Volumn 9, Issue 4, 2004, Pages 375-398

  O'Hanlon, John ^a   Peasnell, Ken ^a  

^a LANCASTER UNIVERSITY MANAGEMENT SCHOOL   (United Kingdom)

Author keywords

Equity valuation; Inflation; Residual income

Indexed keywords

EID: 14944349399     PISSN: 13806653     EISSN: None     Source Type: Journal    
DOI: 10.1007/s11142-004-7789-3     Document Type: Article

References (10)

1. Bradley, M. and G. Jarrell. (2003). "Inflation and the constant growth valuation model: A clarification". Working Paper, Duke University and University of Rochester.
2. Edwards, E. and P. Bell. (1961). The Theory and Measurement of Business Income, University of California Press.
3. Financial Accounting Standards Board. (1979). Statement of Financial Accounting Standards No. 33: Financial Reporting and Changing Prices
4. J. Francis P. Olsson D. 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
5. R. Frankel C. Lee 1998 "Accounting valuation, market expectation and cross-sectional stock returns" Journal of Accounting and Economics 25 283 319
6. International Accounting Standards Committee. (1994). International Accounting Standard No. 29: Financial Reporting in Hyperinflationary Economies.
7. C. Lee J. Myers B. Swaminathan 1999 Journal of Finance 54 1693 1741
8. R. Lundholm T. O'Keefe 2001 "Reconciling Value Estimates from the Discounted Cash Flow Model and the Residual Income Model" Contemporary Accounting Research 18 331 335
9. J. Ritter R. Warr 2002 "The decline of inflation and the bull market of 1982-1999" Journal of Financial and Quantitative Analysis 37 29 61
10. Scapens, R. (1981). Accounting in an Inflationary Environment, 2nd ed. Macmillan.