论文部分内容阅读
本文基于Ohlson模型(1995)建立评估模型,对为何现今的财务报告不能为使用者提供相关、及时的财务信息来评估公司运营状况和股价,以及为何股价不能完全与公司的市场价值一致进行检测。本文以澳大利亚45家上市公司为样本,选择企业的研发费以及非审计费占比为变量,研究这两种费用对公司的市场价值的影响,并发现其相关性。
Based on the Ohlson model (1995), this paper builds an evaluation model to test why current financial reports do not provide users with relevant and timely financial information to evaluate the company’s operating conditions and stock prices and why stock prices can not be fully aligned with the company’s market value. In this paper, 45 listed companies in Australia as a sample, select the corporate R & D costs and non-audit fees as a variable to study the impact of these two costs on the company’s market value and found its relevance.