Value Relevance of the Ohlson model with Mexican data
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| Formato: | Artículo científico |
| Lenguaje: | en |
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Universidad Nacional Autónoma de México
2007
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| _version_ | 1876475115988844544 |
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| author | Rocío Durán Vázquez |
| author_facet | Rocío Durán Vázquez |
| contents | Value Relevance of the Ohlson model with Mexican data Rocío Durán Vázquez Humberto Valencia Herrera Arturo Lorenzo Valdés Administración y Contabilidad C33 Panel Data Ohlson Model Value relevance JEL classifi cation: M41 In this study, the value relevance of Mexican accounting variables is tested undereconometric terms. The aim of the study is to provide evidence of the ability of Mexicanaccounting numbers to summarize the information underlying stock prices. Theaccounting variables used are from companies listed in the Mexican stock marketfrom 1991 to 2003. The value relevance was operationalized using the Ohlson modelcriteria (1995) from the market-based accounting research fi eld. The methodologyemployed is that described by Collins, Maydew, and Weiss (1997). The econometricresults show that, under Panel Data Analysis, book value and earnings are value relevantin Mexican stock market companies, and only the book value is value relevantunder Ordinary Least Squared Regression Analysis. In addition to the Ohlson modelresults, an alternative model is presented as a better proxy of the value relevanceof the characteristics of Mexican information. The operative cash fl ow variable pershare was identifi ed as the third variable to be considered, and together with bookvalue and earnings, constitutes the alternative model. The proposed alternative modelwas tested under the full-sample and Intangible versus Tangible economical classification. In these tests, the alternative model provides extra information and betterstatistics than the original Ohlson model. 2007 artículo científico 0186-1042 https://www.redalyc.org/articulo.oa?id=39522303 en http://www.redalyc.org/revista.oa?id=395 Contaduría y Administración application/pdf Universidad Nacional Autónoma de México Contaduría y Administración (México) Num.223 |
| format | Artículo científico |
| id | redalyc_39522303 |
| institution | Redalyc |
| language | en |
| publishDate | 2007 |
| publisher | Universidad Nacional Autónoma de México |
| spellingShingle | Value Relevance of the Ohlson model with Mexican data Rocío Durán Vázquez Administración y Contabilidad C33 Panel Data Ohlson Model Value relevance JEL classifi cation: M41 Value Relevance of the Ohlson model with Mexican data Rocío Durán Vázquez Humberto Valencia Herrera Arturo Lorenzo Valdés Administración y Contabilidad C33 Panel Data Ohlson Model Value relevance JEL classifi cation: M41 In this study, the value relevance of Mexican accounting variables is tested undereconometric terms. The aim of the study is to provide evidence of the ability of Mexicanaccounting numbers to summarize the information underlying stock prices. Theaccounting variables used are from companies listed in the Mexican stock marketfrom 1991 to 2003. The value relevance was operationalized using the Ohlson modelcriteria (1995) from the market-based accounting research fi eld. The methodologyemployed is that described by Collins, Maydew, and Weiss (1997). The econometricresults show that, under Panel Data Analysis, book value and earnings are value relevantin Mexican stock market companies, and only the book value is value relevantunder Ordinary Least Squared Regression Analysis. In addition to the Ohlson modelresults, an alternative model is presented as a better proxy of the value relevanceof the characteristics of Mexican information. The operative cash fl ow variable pershare was identifi ed as the third variable to be considered, and together with bookvalue and earnings, constitutes the alternative model. The proposed alternative modelwas tested under the full-sample and Intangible versus Tangible economical classification. In these tests, the alternative model provides extra information and betterstatistics than the original Ohlson model. 2007 artículo científico 0186-1042 https://www.redalyc.org/articulo.oa?id=39522303 en http://www.redalyc.org/revista.oa?id=395 Contaduría y Administración application/pdf Universidad Nacional Autónoma de México Contaduría y Administración (México) Num.223 |
| title | Value Relevance of the Ohlson model with Mexican data |
| topic | Administración y Contabilidad C33 Panel Data Ohlson Model Value relevance JEL classifi cation: M41 |
| url | https://www.redalyc.org/articulo.oa?id=39522303 |