Mali tablo verilerinin değer ilişkisini incelemek için yeni bir yöntem: Varlık yaklaşımı

The value relevance of accounting information has been a subject of intensiveacademic research in the last two decades. By definition, any type ofinformation is value relevant provided that it updates the beliefs of investorsabout the value of an asset. Going forward from that definition, manyresearchers have undertaken studies to investigate the value relevance ofaccounting information as well as other constructs from financial statements ofpublicly traded companies. Ohlsson's valuation model, that relates the marketvalue of shareholders' equity of a company to the book value of shareholders'equity and net income of the company, forms a useful framework that helpsresearchers model their hypothesis.The analysis in my doctoral thesis differs from the work of other scholars in thatI analyze the relationship between the enterprise value of a company, the aftertax operating profit and the modified asset value. Using a similar one to theclassical approach in the literature, I derive the equation relating theaforementioned variables to each other. Thereafter, using data collected fromthe Istanbul Stock Exchange database for market value of listed companies andtheir financial statements, I show that my approach yields higher explanatorypower.