Residual income, non-earnings informatio
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Ruey S. Tsay; Yi-Mien Lin; Hsiao-Wen Wang
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Article
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2009
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John Wiley and Sons
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English
β 257 KB
## Abstract We extend Ohlson's (1995) model and examine the relationship between returns and residual income that incorporate analysts' earnings forecasts and other nonβearnings information variables in the balance sheet, namely default probability and agency cost of a debt covenant contract. We fu