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Value-relevance of acccounting numbers for valuation

Recent empirical work suggested that the ability of accounting numbers to explain the relationship between accounting numbers and stock prices has deteriorated over the past four decades. The findings of this study suggest that the accounting earnings and book value are capturing most of the informa...

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Main Authors: Aba Ibrahim, Muliati, Bujang, Hajah Fatimah, Madi, Nero, Abu Samah, Aizimah, Ismai, Ummi Syarah, Jusoff, Kamaruzaman, Narawi, Azlina
Format: Article
Language:English
English
Published: David Publishing Company, USA 2009
Online Access:http://psasir.upm.edu.my/id/eprint/17578/1/Value.pdf
http://psasir.upm.edu.my/id/eprint/17578/
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spelling my.upm.eprints.175782015-11-30T06:30:30Z http://psasir.upm.edu.my/id/eprint/17578/ Value-relevance of acccounting numbers for valuation Aba Ibrahim, Muliati Bujang, Hajah Fatimah Madi, Nero Abu Samah, Aizimah Ismai, Ummi Syarah Jusoff, Kamaruzaman Narawi, Azlina Recent empirical work suggested that the ability of accounting numbers to explain the relationship between accounting numbers and stock prices has deteriorated over the past four decades. The findings of this study suggest that the accounting earnings and book value are capturing most of the information that is relevant to assess the values of firms. At the same time, it also suggests that earnings and book value as well as non-accounting beta are more valued during the financial crisis as compared to after the financial crisis. Overall, the accounting estimate of the value of the firm is not deviating from the markets' estimate, which suggests that accounting numbers play an important role in the valuation of firms in Malaysia. David Publishing Company, USA 2009 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/17578/1/Value.pdf Aba Ibrahim, Muliati and Bujang, Hajah Fatimah and Madi, Nero and Abu Samah, Aizimah and Ismai, Ummi Syarah and Jusoff, Kamaruzaman and Narawi, Azlina (2009) Value-relevance of acccounting numbers for valuation. Journal of Modern Accounting and Auditing, 5 (9). pp. 30-39. ISSN 1548-6583 English
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
English
description Recent empirical work suggested that the ability of accounting numbers to explain the relationship between accounting numbers and stock prices has deteriorated over the past four decades. The findings of this study suggest that the accounting earnings and book value are capturing most of the information that is relevant to assess the values of firms. At the same time, it also suggests that earnings and book value as well as non-accounting beta are more valued during the financial crisis as compared to after the financial crisis. Overall, the accounting estimate of the value of the firm is not deviating from the markets' estimate, which suggests that accounting numbers play an important role in the valuation of firms in Malaysia.
format Article
author Aba Ibrahim, Muliati
Bujang, Hajah Fatimah
Madi, Nero
Abu Samah, Aizimah
Ismai, Ummi Syarah
Jusoff, Kamaruzaman
Narawi, Azlina
spellingShingle Aba Ibrahim, Muliati
Bujang, Hajah Fatimah
Madi, Nero
Abu Samah, Aizimah
Ismai, Ummi Syarah
Jusoff, Kamaruzaman
Narawi, Azlina
Value-relevance of acccounting numbers for valuation
author_facet Aba Ibrahim, Muliati
Bujang, Hajah Fatimah
Madi, Nero
Abu Samah, Aizimah
Ismai, Ummi Syarah
Jusoff, Kamaruzaman
Narawi, Azlina
author_sort Aba Ibrahim, Muliati
title Value-relevance of acccounting numbers for valuation
title_short Value-relevance of acccounting numbers for valuation
title_full Value-relevance of acccounting numbers for valuation
title_fullStr Value-relevance of acccounting numbers for valuation
title_full_unstemmed Value-relevance of acccounting numbers for valuation
title_sort value-relevance of acccounting numbers for valuation
publisher David Publishing Company, USA
publishDate 2009
url http://psasir.upm.edu.my/id/eprint/17578/1/Value.pdf
http://psasir.upm.edu.my/id/eprint/17578/
_version_ 1643826560403243008
score 13.211869

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