Stephen H. Penman《 財務報表質(zhì)量：從近期股市市場泡沫角度分析》

相似文件 換一批

是 否 +2 論壇幣

k人 參與回答

經(jīng)管之家送您一份

應屆畢業(yè)生專屬福利!

求職就業(yè)群

趙安豆老師微信：zhaoandou666

經(jīng)管之家聯(lián)合CDA

送您一個全額獎學金名額~ !

立即領(lǐng)取

感謝您參與論壇問題回答

經(jīng)管之家送您兩個論壇幣！

+2 論壇幣

The Quality of Financial Statements: Perspectives from the Recent Stock Market Bubble

Stephen H. Penman是Columbia University的教授.

本文INTRODUCTION
Concems about the quality of accounting intensify as economies turn down, companies founder, and investors lose. With the bursting of the recent stock market bubble, the quality of accounting is again under scrutiny. This essay questions the quality of fmancial reporting against the backdrop ofthe stock market bubble.
Bubbles work like a pyramiding chain letter. Speculative beliefs feed rising stock prices that beget even higher prices, spurred on by fiirther speculation. Momentum investing displaces fundamental investing. One role of accounting is to interrupt the chain letter, to challenge speculative beliefs, and so anchor investors on fundamentals. Poor accounting feeds speculative beliefs. Warren Buffett recognized the dot-com boom ofthe late 1990s as a chain letter, with investment bankers the "eager postmen."' He might well have added their assistants, the analysts, many of whom shamelessly disregarded fundamentals.^ But was accounting also to blame?

Penman 2003.pdf (6.16 MB, 需要: 5 個論壇幣)

2010-2-24 00:28:02 上傳

需要: 5 個論壇幣  [購買]

掃碼加我 拉你入群

請注明：姓名-公司-職位

以便審核進群資格，未注明則拒絕

分享0 收藏2 回帖

關(guān)鍵詞：Stephen PENMAN Step 市場泡沫 財務報表 財務報表 Stephen 股市 泡沫 PENMAN

自己頂一下。這也是LSE international management項目用的教材

文件無法打開，請樓主盡快修復并再次上傳，多謝！

文件無法打開，請樓主盡快 發(fā)到我郵箱
newbird3721@gmail.com

文件無法打開，請樓主盡快發(fā)到我郵箱
newbird3721@gmail.com

請樓主盡快更新一下 ca-yh@sohu.com

xiexie lz fenxiang

I found a copy here, dunno if it's the same version

http://papers.ssrn.com/sol3/Deli ... =319262&mirid=1

ectopic 發(fā)表于 2010-2-26 16:22
I found a copy here, dunno if it's the same version

http://papers.ssrn.com/sol3/Deli ... ctid=319262&mirid=1

thank you very much for your information

文件無法打開，請樓主盡快 發(fā)到我郵箱
eric_chak2003@hotmail.com