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ザイム ショヒョウ ト カブシキ ヒョウカ モデル ソ ヨンダル キョウジュタイニン キネンゴウ
https://stars.repo.nii.ac.jp/records/4579
https://stars.repo.nii.ac.jp/records/457941442094-4849-47c3-a474-975746375c08
名前 / ファイル | ライセンス | アクション |
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KJ00000154992.pdf (267.6 kB)
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Item type | [ELS]紀要論文 / Departmental Bulletin Paper(1) | |||||
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公開日 | 2017-03-21 | |||||
タイトル | ||||||
タイトル | 財務諸表と株式評価モデル (徐龍達教授退任記念号) | |||||
タイトル | ||||||
言語 | en | |||||
タイトル | Financial Statements and Stock Evaluation Models | |||||
言語 | ||||||
言語 | jpn | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | 株式評価モデル,キャッシュ・フロー,DCF法,割引超過利益モデル,会計情報 | |||||
資源タイプ | ||||||
資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||
資源タイプ | departmental bulletin paper | |||||
雑誌書誌ID | ||||||
収録物識別子タイプ | NCID | |||||
収録物識別子 | AN00240555 | |||||
論文名よみ | ||||||
タイトル | ザイム ショヒョウ ト カブシキ ヒョウカ モデル ソ ヨンダル キョウジュタイニン キネンゴウ | |||||
著者 |
桜井, 久勝
× 桜井, 久勝× Sakurai, Hisakatsu |
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著者所属(日) | ||||||
値 | 神戸大学大学院経営学研究科 | |||||
記事種別(日) | ||||||
内容記述タイプ | Other | |||||
内容記述 | 論文 | |||||
記事種別(英) | ||||||
内容記述タイプ | Other | |||||
内容記述 | Article | |||||
抄録(英) | ||||||
内容記述タイプ | Other | |||||
内容記述 | Stock price is expected to be the fair indicator in financial market for efficient allocation of capital among firms, reflecting the estimated intrinsic value based on the financial information through the convincing models for stock evaluation. Among such models are discountel dividends model, discounted cash flow model, and discounted excess earnings model. This paper introduces these models and presents rationale of each model at first. Then, it is demonstrated using some simple example that each model leads to the same amount of value as long as the input variables to the models are estimated correctly. Superiority among models, therefore, depends largely on the quality of estimation of input variables needed by each model. Only an estimation of dividends is sufficient for an application of discountrd dividend model. Both discounted cash flow model and discounted excess earnings model can make use of logical relationship between accounting numbers to enhance the quality of the estimated variables. Accounting earnings, as a basis for estimation of future value, is vulnerable because of earnings management in a sense, but is able to reflect future plan and intention of managements and become richer information. Quantitative superiority could be verified based on the empirical evidence which compares the ex post stock price with the ex ante intrinsic value estimated by each model. | |||||
書誌情報 |
桃山学院大学経済経営論集 en : ST. ANDREW'S UNIVERSITY ECONOMIC AND BUSINESS REVIEW 巻 44, 号 3, p. 5-21, 発行日 2002-12-20 |
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表示順 | ||||||
内容記述タイプ | Other | |||||
内容記述 | 2 | |||||
アクセション番号 | ||||||
内容記述タイプ | Other | |||||
内容記述 | KJ00000154992 | |||||
ISSN | ||||||
収録物識別子タイプ | ISSN | |||||
収録物識別子 | 02869721 |