The previous chapters' evidence, showed the following: (i) Over the past 60 years, the role of corporate earnings, book values, and other key financial indicators in setting share prices diminished rapidly, and (ii) in terms of information timeliness, or relevance to investors' decisions, financial report information (not just earnings and book values) is increasingly preempted by more prompt and relevant information sources. When the financial reports are publicly released, their thunder is largely stolen.
While solidly based on large-scale empirical data, ...
Get The End of Accounting and the Path Forward for Investors and Managers now with O’Reilly online learning.
O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.