El papel del análisis fundamental en la investigación del mercado de capitalesanálisis crítico de su evolución

  1. Giner Inchausti, Begoña
  2. Reverte Maya, Carmelo
  3. Arce Gisbert, Miguel
Revista:
Revista española de financiación y contabilidad

ISSN: 0210-2412

Año de publicación: 2002

Número: 114

Páginas: 1111-1150

Tipo: Artículo

DOI: 10.1080/02102412.2002.10779470 DIALNET GOOGLE SCHOLAR

Otras publicaciones en: Revista española de financiación y contabilidad

Resumen

Uno de los hechos más relevantes de la investigación contable orientada hacia el mercado de capitales durante la última década ha sido, sin duda alguna, la vuelta al análisis fundamental. Este hecho ha supuesto romper con una línea de investigación, iniciada con el trabajo de Ball y Brown [1968], donde se negaba la validez de dicho análisis. En la nueva orientación de la investigación contable se deja de lado la perspectiva informativa para adoptar una perspectiva de medición o valoración. En la perspectiva de medición, a través del llamado modelo EBO, se reconcilia el análisis fundamental con la teoría de valoración, en la medida que se reconoce la necesidad de predecir los futuros resultados anormales de la empresa como paso previo para la determinación del valor intrínseco de sus accionas. Además, una característica importante de la nueva orientación es su carácter contextual, ya que se reconoce que las implicaciones valorativas de las magnitudes contables pueden variar en función de las características de la empresa.

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Fuente de los datos: Dialnet