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| Author: | Butler, D. Holland, K. Tippett, M. |
| Title: | Economic and accounting (book) rates of return: application of a statistical model |
| Journal: | Accounting and Business Research
1994 : AUTUMN, VOL. 24:96, p. 303-318 |
| Index terms: | ACCOUNTING RATE OF RETURN ECONOMICS |
| Language: | eng |
| Abstract: | The econometric return in this paper is estimated using three cash flow definitions. For all three, the accounting rate of return is significantly lower than the economic return. Further tests show the economic return to be inversely related to the accounting rate of return, although the relationship is weak. In addition, "large" firms tend to report lower accounting rates of return than "small" firms, but again the relationship is weak. |
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