Book Value, Residual Earnings, and Equilibrium Firm Value with Asymmetric Information
The residual income valuation model (RIM) by Ohlson (1995) and Feltham and Ohlson (1995) assumes that investors are risk-neutral with homogenous beliefs. Thus, the present value of expected dividends represents firm value. The purpose of the present study is to derive a RIM in a market setting of th...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2001
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| Online Access: | https://ink.library.smu.edu.sg/soa_research/621 http://dx.doi.org/10.1023/A:1012445830268 |
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| Institution: | Singapore Management University |
| Language: | English |