Persona:
González Sánchez, Mariano

Foto de perfil
Dirección de correo electrónico
ORCID
0000-0002-8255-9478
Fecha de nacimiento
Proyectos de investigación
Unidades organizativas
Puesto de trabajo
Apellidos
González Sánchez
Nombre de pila
Mariano
Nombre

Filtros

20212
Restablecer filtros

Ajustes

Autor: Fullana, Olga × Fecha de inicio: 2020 ×

Resultados de la búsqueda

Mostrando 1 - 2 de 2
  • Miniatura
    Publicación
    The Role of Assumptions in Ohlson Model Performance: Lessons for Improving Equity-Value Modeling
    (MDPI, 2021) Fullana, Olga; Toscano, David; González Sánchez, Mariano
    In this paper, we test whether the short-run econometric conditions for the basic assumptions of the Ohlson valuation model hold, and then we relate these results with the fulfillment of the short-run econometric conditions for this model to be effective. Better future modeling motivated us to analyze to what extent the assumptions involved in this seminal model are not good enough approximations to solve the firm valuation problem, causing poor model performance. The model is based on the well-known dividend discount model and the residual income valuation model, and it adds a linear information model, which is a time series model by nature. Therefore, we adopt the time series approach. In the presence of non-stationary variables, we focus our research on US-listed firms for which more than forty years of data with the required cointegration properties to use error correction models are available. The results show that the clean surplus relation assumption has no impact on model performance, while the unbiased accounting property assumption has an important effect on it. The results also emphasize the uselessness of forcing valuation models to match the value displacement property of dividends.
  • Miniatura
    Publicación
    IFRS adoption and unconditional conservatism: an accrual-based analysis
    (Emerald, 2021) Fullana, Olga; Toscano, David; González Sánchez, Mariano
    Purpose In this paper we analyse the effect on unconditional conservatism of the mandatory adoption of International Financial Reporting Standards (IFRS) by the European listed firms in January 2005. Under the hypothesis that accounting regulation influences the accounting conservatism, we use a non-market-based measure of unconditional conservatism – the accrual-based measure proposed by Givoly and Hayn (2000) – to test this effect, controlling for the other determinants of the unconditional conservatism found in the accounting literature.