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dc.contributor.authorHess, Dieter E.en
dc.contributor.authorLüders, Eriken
dc.date.accessioned2009-02-16T14:56:27Z-
dc.date.available2009-02-16T14:56:27Z-
dc.date.issued2001-
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
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x01-42en
dc.subject.jelG12en
dc.subject.jelM41en
dc.subject.ddc330en
dc.subject.keywordResidual income valuationen
dc.subject.keywordclean surplus accountingen
dc.subject.keywordUS-GAAPen
dc.subject.keywordemployee stock option programsen
dc.subject.stwGewinnermittlungen
dc.subject.stwBörsenkursen
dc.subject.stwLeistungsorientierte Vergütungen
dc.subject.stwAktienoptionen
dc.subject.stwBilanzen
dc.subject.stwGrundsätze ordnungsmäßiger Buchführungen
dc.subject.stwInformationswerten
dc.subject.stwTheorieen
dc.titleAccounting for stock-based compensation: an extended clean surplus relation-
dc.typeWorking Paperen
dc.identifier.ppn856208744en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:5397en

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