We apply Final Predication Error methodology to test the Ohlson Valuation Model. We use a simultaneous equations model to determine the sequence of causality between earnings, dividends and equity.
Modeling Dividends, Earnings and Book Value Equity: An Empirical Investigation of the Ohlson Valuation Dynamics,' Review of Accounting Studies, Vol. 1, No. 3 (1996), pp. 207–224
BAR-YOSEF, SASSON;
1996
Abstract
We apply Final Predication Error methodology to test the Ohlson Valuation Model. We use a simultaneous equations model to determine the sequence of causality between earnings, dividends and equity.
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