As well as generating a strong total shareholder accounting return
of 19% and high like-for-like annualised rent roll growth of 7.1%, we've significantly reshaped the portfolio to focus on our seven key cities."
Specifically, we define the binary private state (good or bad), denoted as [S.sub.nt], conditional on the accounting return
to equity that is measured by book value.
But not only this; innovatively, as far as is known, and assuming that the behavior of share prices in the market can reflect the economic-financial situation of the issuing companies, cross-relationships (and potential trade-offs) between liquidity and accounting return
and liquidity and expected market risk/return will be theoretically discussed and estimated for the companies that compose the sample, with joint analysis of the four indicators being the second, and main aim of this paper.
Culp does not point out that Shimpi constructs his examples by using a firm's accounting return
on debt, equity, and ART capital, which casts doubt to the conclusion that ART capital reduces the firm's economic cost of capital.
I also include shareholder return and accounting return
on assets as control variables, since these measures indicate whether CEO pay is tied to firm performance.
We restate their financial statements using the equity method, and we compare the information content of the two accounting methods in predicting accounting return
on common shareholders' equity.
A cursory reading of articles and books could lead you to believe that the notion of accounting return
on investment, or ROI (accounting income divided by accounting asset value), is valid for evaluating investment decisions.
Generally, commercial banking appears to be one of the least risky activities in financial services, as measured by the coefficient of variation of its accounting return
on equity (ROE) or its accounting return
on assets (ROA).
Fisher and McGowan (1983) and Benston (1985) have been extremely critical of empirical research that utilizes accounting rate of return claiming that accounting return
is highly flawed as a measure of economic return.
Accounting betas were estimated for the same banks by regressing the accounting return
(ROA and ROE) on the various indices.
Alternatively, will accounting return
to being a predominately male profession (scenario two) as relatively high numbers of women continue to leave the profession compared to men, and greater numbers of men move into it drawn possibly by increasing relative pay?
Given the inherent weaknesses of single measures of performance and in order to capture and probe different strategic objectives of foreign investors and the corresponding roles of IJVs, in this study, IJV performances is measured along two dimensions: accounting return
(ROI and ROA), and market growth (domestic sales and export growth).