The demand for accounting information: young NASDAQ listings versus S&P 500 NYSE listings

被引：0

作者：

Saito, Yoshie ^{[1
]}

机构：

[1] Eastern Illinois Univ, Lumpkin Coll Business & Appl Sci, Charleston, IL 61920 USA

来源：

REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING | 2012年 / 38卷 / 02期

关键词：

NASDAQ and NYSE; Demand for accounting information; Valuation;

D O I：

10.1007/s11156-010-0223-y

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The main purpose of this paper is to examine accounting information which can be of poor quality for some industries because uniform regulation applies to all. However, there is a strong demand for reliable accounting data even when the quality of the data is poor. Consistent with this premise, I show that among young NASDAQ listings the valuation coefficient on BVE is higher and that on earnings is not lower for intangible-intensive ventures than for other firms. I also show that GAAP OCF provides additional information that enhances the quality of earning information. This results in a shift in valuation weight from BVE to earnings for intangible-intensive young NASDAQ listings. However, these phenomena do not appear for intangible-intensive S&P 500 firms listed on NYSE. My results suggest that variations in the demand for reliable financial data affect the valuation coefficients on earnings and BVE.

引用

页码：149 / 175

页数：27

共 41 条

[1] The demand for accounting information: young NASDAQ listings versus S&P 500 NYSE listings
Yoshie Saito
[J]. Review of Quantitative Finance and Accounting, 2012, 38 (2) : 149 - 175
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[8] The Supply and Demand of S&P 500 Put Options
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