Ohlson(1995) and Feltham and Ohlson (1995) explain the importance of the financial reports through clean surplus relation and build up the relationship of market value, book value and earnings. The main structure of Ohlson model is the balance sheet and the income statement; however, the model doesn¡¦t contain the information of cash flows. The purpose of this paper is to find the relationship of accruals, cash flows, and market value.
The results of this paper show that to divide net income into accruals and cash flows is good at forecasting abnormal earnings and valuing market value. To divide accruals into separate accruals also is helpful to forecast abnormal earnings and value market value. The cash flows and the accruals are different at forecasting and valuing.
Key words¡GAccruals, Cash Flows, Market Value
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0607104-150829 |
| Date | 07 June 2004 |
| Creators | Lin, Wen-Fan |
| Contributors | Henry Y. Lo, Miao-Ling Chen, David Shyu |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0607104-150829 |
| Rights | unrestricted, Copyright information available at source archive |
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