Please use this identifier to cite or link to this item: http://hdl.handle.net/20.500.11861/5586
Title: Accounting information for security valuation in diversified firms
Authors: Fan, Hung-Shu 
Dr. LEE Hua 
Issue Date: 2013
Conference: American Accounting Association Annual Meeting 2013 
Abstract: This paper examines the valuation roles of earnings and book value of equity in diversified firms. As predicted, the major results show that the industrially diversified firms have higher price multiples on earnings and lower discretionary accruals, whereas globally diversified firms have higher price multiples on book values and discretionary accruals. Collectively, the findings suggest that earnings (book values) are more value relevant for industrially (globally) diversified firms and that manipulation of earnings by managers of globally diversified firms is associated with the reduced value relevance of earnings.
Type: Presentation
URI: http://hdl.handle.net/20.500.11861/5586
http://www2.aaahq.org/AM2013/abstract.cfm?submissionID=1238
Appears in Collections:Accounting - Publication

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