This paper examines the value-relevance of consolidated financial statements disclosed by China's listed firms. Based on data from 2001 to 2007,with valuation model,this paper tests whether consolidated financial statements provide more additional value information than that provided in parent individual financial statements,and whether consolidated financial statements based on Entity Theory provide more additional value information than that based on Parent Theory. The results show that,although not all year-samples support the hypothesis that consolidated financial statements dominate parent individual statements,due to the fact that cosolidated financial statements can disclose deeply the risks related to leverage and profitability,cosolidated financial statements are useful. The results also show that,consolidated financial statements based on Entity Theory dominate that based on Parent Theory.
基于1个网页-相关网页
The paper introduces the whole process in valuation with the Discounted Cash Flow Model of FCFE and indicates some possible problem in valuation.
结合案例较详细地分析了利用股权资本现金流贴现模型对上市商业银行估价的过程,并指出了在估价中可能存在的问题。
Basing on the analysis of those models, this paper studies the default risk valuation model, investigates reset option with random time.
本文在分析了重置期权与带违约风险的期权定价模型的特点基础上,研究了随机时间的重置期权的定价问题。
This paper proposes an valuation index system of creative industries supporting environment, and constructs an evaluation model with TOPSIS theory.
提出了创意产业支撑环境的评价指标体系,并运用TOPS IS理论构建了相应的城市创意产业支撑环境评价模型。
应用推荐