Who do you trust while bubbles grow and blow?

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Who do you trust while bubbles grow and blow?

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dc.contributor.author Ramb, Fred en_US
dc.contributor.author Reitzig, Markus en_US
dc.date.accessioned 2009-02-04T10:24:54Z
dc.date.available 2009-02-04T10:24:54Z
dc.date.issued 2004-06-23T00:00:00Z en_US
dc.identifier.uri http://hdl.handle.net/10398/6814
dc.description.abstract We present a theoretical and empirical analysis of the fitness of national German (German Commercial Code – Handelsgesetzbuch (HGB)) and international (IAS and US-GAAP) accounting information, as well as European patent data to explain the market values of German manufacturing firms. For the chosen volatile period from 1997 to 2002, cautious national accounting information does not correlate with the firms’ residual market values (RMV). International accounting information makes no meaningful contribution to explaining firms’ RMV and seems to measure overinvestment only. Finally, patents counted at the individual country level correlate with the firms’ RMV. Keywords: Accounting standards, investor information, market value, patents JEL-classifications: D82, M40, M41, K11 en_US
dc.format.extent 50 s. en_US
dc.language eng en_US
dc.relation.ispartofseries LEFIC Working paper;2004-07 en_US
dc.subject.other kep en_US
dc.title Who do you trust while bubbles grow and blow? en_US
dc.type wp en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Industriøkonomi og Virksomhedsstrategi en_US
dc.contributor.departmentshort LEFIC en_US
dc.contributor.departmentuk Department of Industrial Economics & Strategy en_US
dc.contributor.departmentukshort IVS en_US
dc.idnumber x656409427 en_US
dc.publisher.city København en_US
dc.publisher.year 2004 en_US
dc.title.subtitle A comparative analysis of the explanatory power of accounting and patent information for the market values of German firms en_US


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