The accounting effect of price adjustment on stock prices: A study based on Ohlson valuation model

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MOHAMMAD POURZARANDI MOHAMMAD EBRAHIM; MOHAMMADI SAEED

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Journal Paper

Paper Information

Journal: JOURNAL OF ACCOUNTING KNOWLEDGE AND MANAGEMENT AUDITING Year:2017 | Volume:6 | Issue:21 Page(s): 11-18

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Information Journal Paper

Title

The accounting effect of price adjustment on stock prices: A study based on Ohlson valuation model

Author(s)

MOHAMMAD POURZARANDI MOHAMMAD EBRAHIM | MOHAMMADI SAEED | Issue Writer Certificate

Keywords

historical costsQ2

accounting information adjusted based on inflationQ1

stock market pricesQ2

Abstract

One of the primary goals in an accounting system is to provide relevant, in-time, and reliable information for the users. The accounting structure of historical costs considers past events of companies, on the other hand investors, mostly, need to have a clear image of companies’ future. Therefore, this idea comes to existence that the accountants should provide such information that makes it possible for the investors to forecast the future of the companies better In this paper, we study the relationship between accounting information (earning per share and book value per share), adjusted based on inflation, and stock market prices To this end, the sample includes 169 companies in a six-year period and we analyzed the data by using Eviews software. The statistical method in this research is based on Ohlson assessments model. After adjusting the financial historical information based on the Consumer Price Index, we tested the relationship between market value of stocks and adjusted financial data. The results of the current study show that both the historical financial statements and inflation-adjusted financial statements indicate significant relationship with the stock market, so it is more practical to present both type of statements together as a complementary and not as a substitute of one another.

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APA: Copy

MOHAMMAD POURZARANDI, MOHAMMAD EBRAHIM, & MOHAMMADI, SAEED. (2017). The accounting effect of price adjustment on stock prices: A study based on Ohlson valuation model. JOURNAL OF ACCOUNTING KNOWLEDGE AND MANAGEMENT AUDITING, 6(21 ), 11-18. SID. https://sid.ir/paper/237966/en

Vancouver: Copy

MOHAMMAD POURZARANDI MOHAMMAD EBRAHIM, MOHAMMADI SAEED. The accounting effect of price adjustment on stock prices: A study based on Ohlson valuation model. JOURNAL OF ACCOUNTING KNOWLEDGE AND MANAGEMENT AUDITING[Internet]. 2017;6(21 ):11-18. Available from: https://sid.ir/paper/237966/en

IEEE: Copy

MOHAMMAD EBRAHIM MOHAMMAD POURZARANDI, and SAEED MOHAMMADI, “The accounting effect of price adjustment on stock prices: A study based on Ohlson valuation model,” JOURNAL OF ACCOUNTING KNOWLEDGE AND MANAGEMENT AUDITING, vol. 6, no. 21 , pp. 11–18, 2017, [Online]. Available: https://sid.ir/paper/237966/en

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