English, Article edition: Abnormal Earnings in the Ohlson’s Model: A Proposal for their Estimation J. David Cabedo Semper; Jose M. Tirado Beltrán

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Abnormal Earnings in the Ohlson’s Model: A Proposal for their Estimation
Author
  • J. David Cabedo Semper
  • Jose M. Tirado Beltrán
Physical Description
  • article
Notes
  • In this paper we propose a model to estimate the expected abnormal earnings required by the linear information dynamics of the Ohlson’s (1995) model. Our proposal, based on ootstrapping techniques, allows us to estimate easily the value of the expected abnormal earnings. Furthermore, it allows us the estimation of confidence intervals for this value and for the estimated values of stock prices. The empirical application of the model that we have done in the paper has provided the following results: the forecasting power of our proposal is as good as the one provided by other models that, as ours, assume persistence in the expected abnormal earnings, but, additionally, require subjective opinions for their estimation.
  • Ohlson model, abnormal earnings, valuation, bootstrapping.
  • RePEc:sar:journl:v:10:y:2007:i:1:p:75-98
Language
  • English
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