Evidencia empírica sobre la utilidad de la información financiera para al predicción de los resultados futuros

  1. Reverte Maya, Carmelo
Revista:
Revista española de financiación y contabilidad

ISSN: 0210-2412

Año de publicación: 2002

Número: 111

Páginas: 189-224

Tipo: Artículo

DOI: 10.1080/02102412.2002.10779448 DIALNET GOOGLE SCHOLAR

Otras publicaciones en: Revista española de financiación y contabilidad

Resumen

El objetivo de este trabajo es analizar la utilidad de la informaciónm financiera (datos contables y precios de mercado) para evaluar los resultados futuros de las empresas españolas, considerando un horizonte de predicción de hasta tres años vista.En cuanto a las magnitudes contables, tenemos en cuenta, además de las sugeridas por la estructura teórica de Ohlson [1995], ciertas varibales fundamentales consideradas en trabajos previos [Lev y Thiagarajan,1993;Abarbanell y Bushee, 1997 y Joos y Joos, 1998]. La inclusión de los precios de mercado pretende paliar la insuficiencia del sistema contable en captar de forma oportuna toda aqeulla información relevante para la valoración de la empresa. Los resultados muestran que es necesario incluir como predictores adicionales al resultado no sólo al neto sino también a los precios de mercado y a ciertas variables fundamentales de cara a evaluar la persistencia del resultado a dos y tres años vista.Sin embargo, para las predicciones a un año vista, es suficiente con utilizar el resultado del periodo.

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