Who do you trust while bubbles grow and blow?

Show simple item record

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