Earnings, Book Values, and Dividends in Equity Valuation: An Empirical Perspective

James Arvid Ohlson

Research output: Journal article publicationJournal articleAcademic researchpeer-review

118 Citations (Scopus)

Abstract

This paper revisits Ohlson 1995 to make a number of points not generally appreciated in the literature. First, the residual income valuation (RIV) model does not serve as a crucial centerpiece in the analysis. Instead, RIV plays the role of condensing and streamlining the analysis, but without any effect on the substantive empirical conclusions. Second, the concept of "other information" in the model can be given concrete empirical content if one presumes that next-period expected earnings are observable.
Original languageEnglish
Pages (from-to)107-120
Number of pages14
JournalContemporary Accounting Research
Volume18
Issue number1
DOIs
Publication statusPublished - 1 Jan 2001
Externally publishedYes

Keywords

  • Accounting data
  • Equity valuation
  • Expected earnings
  • Residual income valuation

ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics

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