Accounting information and market forecasts: the Tunisian case (notice n° 547714)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02251cam a2200265 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121114926.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Salem, Faten Nasfi |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Accounting information and market forecasts: the Tunisian case |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2020.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 32 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | To what extent does accounting information disclosed by listed companies enable reliable forecasts to be made concerning the evolution of their value? This is an important question for investors in their decision-making process. Ohlson (1995) and Feltham and Ohlson (1999) have developed a methodology to highlight the relevance of accounting figures. Ohlson’s model models a relationship between stock market value and financial and non-financial information. Its major contribution is summarised by integrating the value of equity, accounting results and “other information” into a same model. The objective of this paper is to test the relevance of “other information” variable in the Ohlson model on a sample of Tunisian listed companies covering the period 2012 to 2017. Thus, we study the additional informational content provided by the operating cash flow variable, compared to classical variables such as the result and the book value.Our results corroborate recent work that shows that the accounting result is the most relevant variable in the prediction of companies’ stock prices. The addition of the operating cash flow variable improves the explanatory power of the basic model, that combines earning and book value. These results obtained in an emerging financial market such as that of Tunisia provide interesting insights into accounting information. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | net earnings |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | stock prices anticipation |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | operating cash flow |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | accounting information |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | net earnings |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | stock prices anticipation |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | operating cash flow |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | accounting information |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Albouy, Michel |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Recherches en Sciences de Gestion | o 136 | 1 | 2020-07-16 | p. 231-252 | 2259-6372 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-recherches-en-sciences-de-gestion-2020-1-page-231?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-recherches-en-sciences-de-gestion-2020-1-page-231?lang=en&redirect-ssocas=7080</a> |
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