The relationship between persistence of abnormal earnings and usefulness of accounting information in hotel companies

被引：10
|
作者：
Jeon, S [1 ]
Kang, I
Lee, S
机构：
[1] Sungkyunkwan Univ, Sch Business Adm, Seoul 110745, South Korea
[2] Sejong Univ, Sch Business Adm, Seoul 143747, South Korea
来源：
TOURISM MANAGEMENT | 2004年 / 25卷 / 06期
关键词：
persistence parameter of abnormal earnings; model of abnormal earnings; the quality of accounting profit;
D O I：
10.1016/j.tourman.2003.09.010
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
This study examines whether persistence of abnormal earnings affects book value of equity and earnings. According to Ohlson (Contemporary Accounting Res. (1995) 661-687) theoretical framework, a company's market value is a function of its book value of equity, earnings and other information. The persistence of abnormal earnings has a systematic relation with book value of equity and earnings. The persistence is measured using the first auto-correlation coefficient of abnormal earnings for two consecutive periods. This study intends to measure the persistence of abnormal earnings during 1993-2000 period for hotels and manufacturing companies. The results indicate that the persistence of abnormal earnings is higher for hotels than manufacturing companies and for hotels of first class than of other classes. (C) 2003 Elsevier Ltd. All rights reserved.
引用
收藏
页码：735 / 740
页数：6
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