Conservatism correction for the market-to-book ratio and Tobin’s q
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چکیده
منابع مشابه
Conservatism Correction for the Market-To-Book Ratio and Tobin’s q
We decompose the market-to-book ratio into two additive components: a conservatism correction factor and a future-to-book ratio. The conservatism correction factor exceeds the benchmark value of one whenever the accounting for past transactions has been subject to an (unconditional) conservatism bias. The observed history of a firm’s past investments allows us to calculate the magnitude of its ...
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ژورنال
عنوان ژورنال: Review of Accounting Studies
سال: 2014
ISSN: 1380-6653,1573-7136
DOI: 10.1007/s11142-013-9275-2