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SUWID 2961
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Abarbanell, J. 1999. Discussion of Evidence on the usefulness of capital expenditures as an
.alternative measure of depreciation. Review of Accounting Studies 4(3-4): 197-203
Aboody, D. 2006. Discussion of Which approach to accounting for employee stock options
Gjesdal, F. and R. Antle. 2001. Dividend covenants and income measurement. Review of
.Accounting Studies 6(1): 53-76
Gleason, C. A. and L. F. Mills. 2008. Evidence of differing market responses to beating
analysts targets through tax expense decreases. Review of Accounting Studies 13(2-3): 295.318
Glover, J. 2002. Discussion of: Controlling investment decisions: Depreciation and capital
.charges. Review of Accounting Studies 7(2-3): 283-287
Gode, D. and J. Ohlson. 2004. Accounting-based valuation with changing interest rates.
.Review of Accounting Studies 9(4): 419-441
Gode, D. and P. Mohanram. 2003. Inferring the cost of capital using the Ohlson-Juettner
.model. Review of Accounting Studies 8(4): 399-431
Gosman, M. T. Kelly, P. Olsson and T. Warfield. 2004. The profitability and pricing of major
.customers. Review of Accounting Studies 9(1): 117-139
Govindaraj, S. and R. T. S. Ramakrishnan. 2001. Accounting earnings processes, intertemporal incentives and their implications for valuation. Review of Accounting Studies 6(4):
.427-457
Gox, R. F. 2008. Tax incentives for inefficient executive pay and reward for luck. Review of
.Accounting Studies 13(4): 452-478
Griffin, P. A. 2003. Got information? Investor response to Form 10-K and Form 10-Q EDGAR
.filings. Review of Accounting Studies 8(4): 433-460
Hail, L. 2007. Discussion of investor protection and analysts cash flow forecasts around the
.world. Review of Accounting Studies 12(2-3): 421-441
Hammersley, J. S., L. A. Myers and C. Shakespeare. 2008. Market reactions to the disclosure
of internal control weaknesses and to the characteristics of those weaknesses under section
.302 of the Sarbanes Oxley Act of 2002. Review of Accounting Studies 13(1): 141-165
Hand, J. R. M. 2002. Discussion of Earnings surprises, growth expectations, and stock
returns, or, don't let an earnings torpedo sink your portfolio. Review of Accounting Studies
.7(2-3): 313-318
Hayes, R. M. and S. Schaefer. 2005. Bonuses and non-public information in publicly traded
.firms. Review of Accounting Studies 10(4): 431-464
Hilary, G. 2006. Organized labor and information asymmetry in the financial markets. Review
.of Accounting Studies 11(4): 525-548
Hillegeist, S. A., E. K. Keating, D. P. Cram and K. G. Lundstedt. 2004. Assessing the
.probability of bankruptcy. Review of Accounting Studies 9(1): 5-34
Hribar, P. 2002. Discussion of Inventory changes and future returns. Review of Accounting
.Studies 7(2-3): 189-193
risk: Effects of bank technical sophistication and learning over time. Review of Accounting
.Studies 9(2-3): 295-299
Koonce, L. 2006. Discussion of Feedback loops, fair value accounting and correlated
.investments. Review of Accounting Studies 11(2-3): 417-427
Koonce, L., M. G. Lipe and M. L. McAnally. 2008. Investor reactions to derivative use and
.outcomes. Review of Accounting Studies 13(4): 571-597
Kormendi, R. and P. Zarowin. 1996. Dividend policy and permanence of earnings. Review of
.Accounting Studies 1(2): 141-160
Kothari, S. P., T. E. Laguerre and A. J. Leone. 2002. Capitalization versus expensing:
Evidence on the uncertainty of future earnings from capital expenditures versus R&D outlays.
.Review of Accounting Studies 7(4): 355-382
Krishnan, G. V., B. Srinidhi and L. Su. 2008. Inventory policy, accruals quality and
.information risk. Review of Accounting Studies 13(2-3): 369-410
Kwon, Y. K. 2001. Book value, residual earnings, and equilibrium firm value with asymmetric
.information. Review of Accounting Studies 6(4): 387-395
Kwon, Y. K., D. P. Newman and Y. S. Suh. 2001. The demand for accounting conservatism for
.management control. Review of Accounting Studies 6(1): 29-52
Lambert, R. A. 1999. Discussion of Asset valuation and performance measurement in a
.dynamic agency setting. Review of Accounting Studies 4(3-4): 259-264
Landsman, W. R., K. V. Peasnell, P. F. Pope and S. Yeh. 2006. Which approach to accounting
for employee stock options best reflects market pricing? Review of Accounting Studies 11(2.3): 203-245
Lang, M. 1998. Discussion of Bridging the information gap: Quarterly conference calls as a
.medium for voluntary disclosure. Review of Accounting Studies 3(1-2): 169-173
Lee, C. J., L. Y. Li and H. Yue. 2006. Performance, growth and earnings management. Review
.of Accounting Studies 11(2-3): 305-334
Lehavy, R. 2002. Reporting discretion and the choice of fresh start values in companies
.emerging from chapter 11 bankruptcy. Review of Accounting Studies 7(1): 53-73
Lehavy, R. and R. G. Sloan. 2008. Investor recognition and stock returns. Review of
.Accounting Studies 13(2-3): 327-361
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.Studies 13(4): 419-451
Levi, S. 2008. Voluntary disclosure of accruals in earnings press releases and the pricing of
.accruals. Review of Accounting Studies 13(1): 1-21
Liang, L. 2003. Post-earnings announcement drift and market participants' information
.processing biases. Review of Accounting Studies 8(2-3): 321-345
Liu, C. and H. F. Mittelstaedt. 2002. Materiality judgments and disclosure of retiree health
.care costs under SFAS No. 81. Review of Accounting Studies 7(4): 405-434
Liu, C., S. G. Ryan and H. Tan. 2004. How banks' value-at-risk disclosures predict their total
and priced risk: Effects of bank technical sophistication and learning over time. Review of
.Accounting Studies 9(2-3): 265-294
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.returns. Review of Accounting Studies 9(2-3): 189-196
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.announcements. Review of Accounting Studies 5(2): 127-153
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Lundholm, R. J. 2001. Discussion of: On the aggregation and valuation of deferred taxes.
.Review of Accounting Studies 6(2-3): 299-304
Marquardt, C. A. and C. I. Wiedman. 2007. Economic consequences of financial reporting
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Marques, A. 2006. SEC interventions and the frequency and usefulness of non-GAAP
.financial measures. Review of Accounting Studies 11(4): 549-574
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.Review of Accounting Studies 9(4): 465-493
McNichols, M. F. 2003. Discussion of Why are earnings kinky? An examination of the
.earnings management explanation. Review of Accounting Studies 8(2-3): 385-391
McVay, S., V. Nagar and V. W. Tang. 2006. Trading incentives to meet the analyst forecast.
.Review of Accounting Studies 11(4): 575-598
Melumad, N. D., G. Weyns and A. Ziv. 1999. Comparing alternative hedge accounting
.standards: Shareholders' perspective. Review of Accounting Studies 4(3-4): 265-292
Minton, B. A., C. M. Schrand and B. R. Walther. 2002. The role of volatility in forecasting.
.Review of Accounting Studies 7(2-3): 195-215
Mohanram, P. S. 2005. Separating winners from losers among low book-to-market stocks
.using financial statement analysis. Review of Accounting Studies 10(2-3): 133-170
Mohnen, A. and M. Bareket. 2007. Performance measurement for investment decisions under
.capital constraints. Review of Accounting Studies 12(1): 1-22
Monahan, S. J. 2005. Conservatism, growth and the role of accounting numbers in the
.fundamental analysis process. Review of Accounting Studies 10(2-3): 227-260
Monahan, S. J. 2008. Discussion of Is financial reporting shaped by equity markets or debt
Park, C. W. and Earl K. Stice. 2000. Analyst forecasting ability and the stock price reaction to
.forecast revisions. Review of Accounting Studies 5(3): 259-272
Patterson, E. and D. Wright. 2003. Evidence of fraud, audit risk and audit liability regimes.
.Review of Accounting Studies 8(1): 105-131
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Penman, S. H. 1998. A Synthesis of equity valuation techniques and the terminal value
.calculation for the dividend discount model. Review of Accounting Studies 2(4): 303-323
Penman, S. H. 2001. Discussion of Back to basics: Forecasting the revenues of internet firms
and A rude awakening: Internet shakeout in 2000. Review of Accounting Studies 6(2-3):
.361-364
Penman, S. H. 2005. Discussion of On accounting-based valuation formulae and Expected
EPS and EPS growth as determinants of value. Review of Accounting Studies 10(2-3): 367.378
Petroni, K. R., S. G. Ryan and J. M. Wahlen. 2000. Discretionary and non-discretionary
revisions of loss reserves by property-casualty insurers: Differential implications for future
.profitability, risk and market value. Review of Accounting Studies 5(2): 95-125
Piotroski, J. D. 2005. Discussion of Separating winners from losers among low book-tomarket stocks using financial statement analysis. Review of Accounting Studies 10(2-3): 171.184
Pope, P. F. and P. Wang. 2005. Earnings components, accounting bias and equity valuation.
.Review of Accounting Studies 10(4): 387-407
Rajan, M. V., S. Reichelstein and M. T. Soliman. 2007. Conservatism, growth, and return on
.investment. Review of Accounting Studies 12(2-3): 323-370
Rajgopal, S., T. Shevlin and M. Venkatachalam. 2003. Does the stock market fully appreciate
the implications of leading indicators for future earnings? Evidence from order backlog.
.Review of Accounting Studies 8(4): 461-492
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Reichelstein, S. 1997. Investment decisions and managerial performance evaluation. Review
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.Reichelstein, S. 1999. Editorial. Review of Accounting Studies 4(3-4): 143
Richardson, S. 2006. Over-investment of free cash flow. Review of Accounting Studies 11(2.3): 159-189
Riffe, S. and R. Thompson. 1998. The relation between stock prices and accounting
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450 84
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139
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:
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=
= 420 = ( 150 180 ) 450
= ] [ + . +
= ] 274 = 36 + 38 + [ ( 80 100 ) ( 170 200) 250
= 1 : 1.15 = ( 83+ 7+ 281 ) \ 420
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= % 46 = 139 \ 64
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103,000
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= 8,000 = 10,000 - 18,000
= -
= 5,000 = 3,000 - 8,000
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18,000
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= 33,000 = ( 18,000 - 65,000 ) - 80.000
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= ) (
= 20,000 = ( 10,000 - 35,000 ) - 45,000
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55,000 ,
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600 108
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) . ( )+ (100 5
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__________ ______ __________ _____
= 133 = 133
____________________________________________
= 133
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113
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= 20,000 = 36,000 -56,000
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= 240,000 = ( 90,000 - 2,140,000 ) -2,290,000
2,140,000 1/1/2000
240,000 2000
90,000 2000
2,290,000 31/12/2000
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= ) (
= 164,000 = ( 34,000 - 560,000 ) - 690,000
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= 200,000 = 300,000 500,000
= 38,000 = 200,000 238,000
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=
= 18,000 = 218,000 236,000
. 9 :
= 70,000 = 38,000 108,000
70,000
.
:
3700 610
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) . ( ) + (606 . 18
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__________ ______ __________ _____
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= 722
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782
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328
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942
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