Decision Useful Financial Reports In Efficient Securities Markets
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Decision Useful Financial Reports In Efficient Securities Markets
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Author : Dennis Teichmann
language : en
Publisher: GRIN Verlag
Release Date : 2005-03-08
Decision Useful Financial Reports In Efficient Securities Markets written by Dennis Teichmann and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-03-08 with Business & Economics categories.
Seminar paper from the year 2002 in the subject Business economics - Controlling, grade: 1,0, University of Hannover (Lehrstuhl für Controlling), course: Seminar zur "Financial Accounting Theory", language: English, abstract: This paper studies the decision-usefulness of accounting information and the implications of financial reports, especially against the background of efficient securities markets. The decision-usefulness of financial statements gained in importance in the literature of accounting research due to the decline in helpfulness for decision taking of traditional financial statements like earnings, cash flows and stock returns.1 This deterioration is accompanied by a deficit of future-oriented indicators, in particular intangible assets, which are not integrated in the actual financial reporting requirements.2 These outstanding problems lead to incompleteness of capital markets, which are tried to be solved by different mechanisms, e.g. penalties, incentives and voluntary disclosure, to attain to efficient securities markets, the social advantageous solution.3 Section 2 describes the requirements of efficient securities markets, its various forms and the origin of inefficient working securities markets. Chapter 3 illustrates the usefulness of financial statements for different constituencies, especially for investors and management, and the legal standards for mandatory disclosure. Division 4 expresses the information dilemma and presents diverse solutions for an approximation to social optimal allocations, i.e. allocations that diminish securities markets inefficiencies. Chapter 5 gives a short summary of this paper. 1 See LEV / ZAROWIN (Boundaries of Financial Reporting 1999), pp. 354 – 362. 2 See GÜNTHER / BEYER (Value Based Reporting 2001), pp. 1627 – 1629. 3 See SCOTT (Financial Accounting Theory 1997), pp. 81 – 82.
Stock Market Efficiency
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Author : Simon M. Keane
language : en
Publisher: Philip Allan
Release Date : 1983
Stock Market Efficiency written by Simon M. Keane and has been published by Philip Allan this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Business enterprises categories.
Efficient Capital Markets And Accounting
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Author : Thomas R. Dyckman
language : en
Publisher: Prentice Hall
Release Date : 1975
Efficient Capital Markets And Accounting written by Thomas R. Dyckman and has been published by Prentice Hall this book supported file pdf, txt, epub, kindle and other format this book has been release on 1975 with Business & Economics categories.
The End Of Accounting And The Path Forward For Investors And Managers
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Author : Baruch Lev
language : en
Publisher: John Wiley & Sons
Release Date : 2016-06-02
The End Of Accounting And The Path Forward For Investors And Managers written by Baruch Lev and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-02 with Business & Economics categories.
An innovative new valuation framework with truly useful economic indicators The End of Accounting and the Path Forward for Investors and Managers shows how the ubiquitous financial reports have become useless in capital market decisions and lays out an actionable alternative. Based on a comprehensive, large-sample empirical analysis, this book reports financial documents' continuous deterioration in relevance to investors' decisions. An enlightening discussion details the reasons why accounting is losing relevance in today's market, backed by numerous examples with real-world impact. Beyond simply identifying the problem, this report offers a solution—the Value Creation Report—and demonstrates its utility in key industries. New indicators focus on strategy and execution to identify and evaluate a company's true value-creating resources for a more up-to-date approach to critical investment decision-making. While entire industries have come to rely on financial reports for vital information, these documents are flawed and insufficient when it comes to the way investors and lenders work in the current economic climate. This book demonstrates an alternative, giving you a new framework for more informed decision making. Discover a new, comprehensive system of economic indicators Focus on strategic, value-creating resources in company valuation Learn how traditional financial documents are quickly losing their utility Find a path forward with actionable, up-to-date information Major corporate decisions, such as restructuring and M&A, are predicated on financial indicators of profitability and asset/liabilities values. These documents move mountains, so what happens if they're based on faulty indicators that fail to show the true value of the company? The End of Accounting and the Path Forward for Investors and Managers shows you the reality and offers a new blueprint for more accurate valuation.
Report Of The Advisory Committee On Corporate Disclosure To The Securities And Exchange Commission
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Author : United States. Securities and Exchange Commission. Advisory Committee on Corporate Disclosure
language : en
Publisher:
Release Date : 1977
Report Of The Advisory Committee On Corporate Disclosure To The Securities And Exchange Commission written by United States. Securities and Exchange Commission. Advisory Committee on Corporate Disclosure and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Disclosure of information categories.
Critical Review About Implications Of The Efficient Market Hypothesis
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Author : Sascha Kurth
language : en
Publisher: GRIN Verlag
Release Date : 2011-10-24
Critical Review About Implications Of The Efficient Market Hypothesis written by Sascha Kurth and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-24 with Business & Economics categories.
Seminar paper from the year 2011 in the subject Business economics - Investment and Finance, grade: 1,0, University of Hull, course: Current Issues Financial Management, language: English, abstract: The study examines and critical reviews the literature for the different implications based on the three levels of the Efficient Market Hypothesis for investors and company managers. If the weak form of the EMH holds, the technical analyse is useless, but ninety percent of traders in London are using it. If the semi-strong-form holds the fundamental analysis, study of published accounts, search for undervalued companies are useless and investors should be focus on diversification and avoiding of transaction costs. Furthermore the semi-strong form would imply for managers, that accounting disclosure to deceived shareholders is useless, the company market value is the best indicator for the company value and management decisions, the company does not need specialists for the timing of issues and there are no opportunities for a cheap acquisition of another company. At least if the strong-form of the EMH holds, it would imply that even with insider information it would not be possible to get above average returns. The literature shows, that the studies of EMH have made an important contribution to our understanding of the security market. It also shows that in some cases scientific results do not strong influence the behaviour of manager and investors in the “real world”.
Investment Management
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Author : Ramanna Vishwanath
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-04-21
Investment Management written by Ramanna Vishwanath and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-21 with Business & Economics categories.
Sound investment decisions require an in-depth knowledge of the financial markets and available financial instruments. This book provides students and professionals with an understanding of the role and activities of an equity security analyst within the investment process. Emphasis is on understanding the process of analyzing companies; the valuation process; and the challenges of achieving success in a highly competitive capital market. The authors present a comprehensive compendium on the financial theory, the empirical evidence and the mathematical tools that form the underlying principles of investment decisions.
Financial Reporting Information And Capital Markets
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Author : Michael Bromwich
language : en
Publisher: Financial Times/Prentice Hall
Release Date : 1992
Financial Reporting Information And Capital Markets written by Michael Bromwich and has been published by Financial Times/Prentice Hall this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Accounting categories.
This text reviews the theory of the economic measurement of income and wealth in financial accounting and presents an informational perspective on accounting information. It is aimed primarily at second and third year accounting undergraduates and first year postgraduates.
Trends In Managerial And Financial Accounting
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Author : Cees van Dam
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Trends In Managerial And Financial Accounting written by Cees van Dam and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
In August, 1976 the research seminar 'Decision-making in business' was organized at Nijenrode, The Netherlands School of Business. More than fifty scientists and practitioners from nine countries presented research papers in one of the six discussion groups. Some of them also presented some of their ideas in front of a large mixed audience at a one-day symposium. Many of the papers presented at Nijenrode were of such a high quality that the decision to publish a selection of them was an easy one. At the same time the new series Nijenrode studies in business was initiated. All who were involved, the policy committee of the N ijenrode studies, the advisory and editorial board of the series, the publisher, and the organizing committee of the seminar and symposium, acclaimed the idea of publishing three volumes in the new series. A collection of eleven papers could be grouped under the title Trends in managerial andfinancial accounting. Another collection will be published as volume 2 of this series under the title TI'ends in financial decision-making, while volume 3 will consist of papers exploring the theme Trends in business ethics. The books are intended for those who are interested in new developments in the decision-making area. They are especially suitable for graduate or advanced undergraduate courses: volume 1 in managerial or financial accounting courses; volume 2 in courses on managerial finance, capital budgeting or decision making; and volume 3 in courses on business ethics or related fields.
A Management Guide To Better Financial Reporting
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Author : Duff and Phelps, Inc
language : en
Publisher:
Release Date : 1976
A Management Guide To Better Financial Reporting written by Duff and Phelps, Inc and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Corporation reports categories.