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dc.contributor.authorHess, Dieter E.en_US
dc.contributor.authorLüders, Eriken_US
dc.date.accessioned2009-02-16T14:56:27Z-
dc.date.available2009-02-16T14:56:27Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/24464-
dc.description.abstractResidual income valuation is based on the assumption that the clean surplus relation holds. As pointed out by Ohlson (2000), among others, the standard clean surplus relation is frequently violated. Moreover, standard residual income valuation models rest on the implicit assumption that future stated earnings belong to current shareholders only. This is clearly invalid for companies granting employee options. In order to overcome these deficiencies, this paper establishes an extension of the clean surplus relation and derives simple analytical solutions for the value of outstanding stocks in terms of already known accounting information.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheim-
dc.relation.ispartofseriesZEW Discussion Papers 01-42en_US
dc.subject.jelG12en_US
dc.subject.jelM41en_US
dc.subject.ddc330en_US
dc.subject.keywordResidual income valuationen_US
dc.subject.keywordclean surplus accountingen_US
dc.subject.keywordUS-GAAPen_US
dc.subject.keywordemployee stock option programsen_US
dc.subject.stwGewinnermittlungen_US
dc.subject.stwBörsenkursen_US
dc.subject.stwLeistungsorientierte Vergütungen_US
dc.subject.stwAktienoptionen_US
dc.subject.stwBilanzen_US
dc.subject.stwGrundsätze ordnungsmäßiger Buchführungen_US
dc.subject.stwInformationswerten_US
dc.subject.stwTheorieen_US
dc.titleAccounting for stock-based compensation: an extended clean surplus relationen_US
dc.typeWorking Paperen_US
dc.identifier.ppn332308774en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:5397-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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