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| Tekijä: | Zhang, H. Zheng, L. |
| Otsikko: | The valuation impact of reconciling pro forma earnings to GAAP earnings |
| Lehti: | Journal of Accounting & Economics
2011 : FEB, VOL. 51: 1-2, p. 186-202 |
| Asiasana: | regulations valuation earnings models |
| Vapaa asiasana: | pro forma earnings GAAP earnings Pre-Reg G Post-Reg G reconciliation quality |
| Kieli: | eng |
| Tiivistelmä: | This article provides three findings related to the impact of reconciliations on mispricing of pro forma earnings. 1) prior to Reg G. It is found that mispricing of pro forma earnings is limited to firms with low reconciliation quality. There is no evidence of mispricing for firms with high reconciliation quality. 2) no evidence of mispricing after Reg G. 3) there is a cross-Reg G reduction of mispricing for firms whose reconciliation quality improves, and there continues to be no mispricing for firms that have high reconciliation quality both before and after Reg G. |
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