Publicação

Firm valuation and accounting numbers

Detalhes bibliográficos
Resumo:	Accounting information on earnings and book values is commonly used to help value a firm. The errors that arise from the use of these data stem from the fact that accounting depreciation is not generally equal to expected economic depreciation and that earnings are liable to random shocks. In this paper I discuss some general statements that can be made about the relative efficiency of estimates of firm value which are derived from accounting data.
Autores principais:	Brealey, Richard A.
Ano:	2000
País:	Portugal
Tipo de documento:	artigo
Tipo de acesso:	acesso aberto
Instituição associada:	Universidade de Lisboa
Idioma:	inglês
Origem:	Repositório da Universidade de Lisboa

Descrição
Resumo:	Accounting information on earnings and book values is commonly used to help value a firm. The errors that arise from the use of these data stem from the fact that accounting depreciation is not generally equal to expected economic depreciation and that earnings are liable to random shocks. In this paper I discuss some general statements that can be made about the relative efficiency of estimates of firm value which are derived from accounting data.