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The Accounting Variable And Stock Price Determination

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Author Info
stanley c. w. salvary (Canisius College)

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Abstract

Several tests have been conducted to determine which valuation model best fits stock price data. Given very little success, those studies suggest the need for a clear understanding of the market process of stock price determination. This paper advances the concepts of product costing and product pricing, which pertain to financial accounting valuation and the stock market price determination, respectively. This research effort presents a workable hypothesis of stock price determination.

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File URL: http://129.3.20.41/eps/fin/papers/0502/0502011.pdf
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Publisher Info
Paper provided by EconWPA in its series Finance with number 0502011.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 29 pages
Date of creation: 11 Feb 2005
Date of revision:
Handle: RePEc:wpa:wuwpfi:0502011

Note: Type of Document - wps; pages: 29
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Web page: http://129.3.20.41

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Related research
Keywords: stock valuation models; fundamental value; committed finance; financial product costing; financial product pricing; 'investment base'; risk/return preferences; sequential expectations adjustment model; heterogeneous expectations; economic space.;

Find related papers by JEL classification:
G - Financial Economics

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Stavros B. Thomadakis, 1976. "A Model of Market Power, Valuation and the Firm's Returns," Bell Journal of Economics, The RAND Corporation, vol. 7(1), pages 150-162, Spring. [Downloadable!] (restricted)
  2. Kormendi, Roger & Lipe, Robert, 1987. "Earnings Innovations, Earnings Persistence, and Stock Returns," Journal of Business, University of Chicago Press, vol. 60(3), pages 323-45, July. [Downloadable!] (restricted)
  3. Kleidon, Allan W, 1986. "Variance Bounds Tests and Stock Price Valuation Models," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 953-1001, October. [Downloadable!] (restricted)
  4. Stanley C. W. Salvary, 2005. "On Financial Accounting Measurement: A Reconsideration Of Sfac 5 By The Fasb Is Needed," Finance 0502015, EconWPA. [Downloadable!]
  5. James Tobin, 1977. "Monetary Policies and the Economy -- The Transmission Mechanism," Cowles Foundation Discussion Papers 456, Cowles Foundation, Yale University. [Downloadable!]
  6. Campbell, John Y & Shiller, Robert J, 1988. " Stock Prices, Earnings, and Expected Dividends," Journal of Finance, American Finance Association, vol. 43(3), pages 661-76, July. [Downloadable!] (restricted)
    Other versions:
  7. Scott, Louis O, 1985. "The Present Value Model of Stock Prices: Regression Tests and Monte Carlo Results," The Review of Economics and Statistics, MIT Press, vol. 67(4), pages 599-605, November. [Downloadable!] (restricted)
  8. Shiller, Robert J, 1990. "A Scott-Type Regression Test of the Dividend Ratio Model," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 356-61, May. [Downloadable!] (restricted)
  9. Turnovsky, Stephen J, 1970. "Financial Structure and the Theory of Production," Journal of Finance, American Finance Association, vol. 25(5), pages 1061-80, December. [Downloadable!] (restricted)
  10. Lindenberg, Eric B & Ross, Stephen A, 1981. "Tobin's q Ratio and Industrial Organization," Journal of Business, University of Chicago Press, vol. 54(1), pages 1-32, January. [Downloadable!] (restricted)
  11. Vickers, Douglas, 1970. "The Cost of Capital and the Structure of the Firm," Journal of Finance, American Finance Association, vol. 25(1), pages 35-46, March. [Downloadable!] (restricted)
  12. Greenberg, Edward & Marshall, William J & Yawitz, Jess B, 1978. "The Technology of Risk and Return," American Economic Review, American Economic Association, vol. 68(3), pages 241-51, June. [Downloadable!] (restricted)
  13. Arzac, Enrique R, 1975. "Structural Planning under Controllable Business Risk," Journal of Finance, American Finance Association, vol. 30(5), pages 1229-37, December. [Downloadable!] (restricted)
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