haku: @author Halvorsen, K. T. / yhteensä: 1
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| Tekijä: | McKinnon, S. M. Halvorsen, K. T. |
| Otsikko: | Accounting for non-majority-owned intercorporate investments: a cashflow assessment of alternative methods. |
| Lehti: | Journal of Business Finance and Accounting
1993 : JAN, VOL. 20:1, p. 1-26 |
| Asiasana: | INVESTMENTS CASH FLOW EARNINGS COST ACCOUNTING METHOD STUDY |
| Kieli: | eng |
| Tiivistelmä: | This study examines the cost, market, and equity methods for investments. It compares earnings to stockholders as measured by each method with an idealized cash yield. The study uses the absolute percentage differences between earnings and annualized cash yield to compare the methods' abilities to predict cashflows in a test sample of 148 firms that had 5-50 percent of their outstanding stock owned by other firms. Friedman's Rank Sum Test and a multiple-comparisons test found significant differences among methods, with the equity method having the smallest rank sum for all but one period. Cross-validation in a second sample produced similar results. |
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