Market Valuations in the New Economy: An Investigation of What has Changed

By John E. Core, W. Guay, Andrew Van Buskirk. 2003

298 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/3116a32070b6b61a56491e92676d1f4b5f941a05

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Citations in the corpus

The Impact of Mandatory IFRS Adoption on Equity Valuation of Accounting Numbers for Security Investors in the EU (2010, methodology): “It is for this reason that we also use a market-to-book value regression model suggested by Core et al. (2003) as a robustness test, as discussed in the additional analyses in Section 6.”
The Impact of IFRS on the Value Relevance of Accounting Information: Evidence from Turkish Firms (2013, background): “Core et al. (2001) claim that the U.S.A. entered to a New Economy Period and traditional financial variables do not affect firm value in that period.”
The Impact of Fundamentals on IPO Valuation (2009, unknown): “For example, Core, Guay, and Buskirk (2003) compare the explanatory power of a valuation model in the new economy period (1995-1999) relative to earlier years for a large cross-section of publicly traded firms.”
Understanding Earnings Quality: A Review of the Proxies, Their Determinants and Their Consequences (2010, background): “Core et al. (2008) perform such tests and suggest that the AQ_factor is not priced. In other words, low quality accrual firms may covary with each other, but investors do not price this covariance risk and so do not demand a higher expected return/cost of capital. Ecker, Francis, Kim, Olsson, and Sc”
Is the decline in the value relevance of accounting driven by increased conservatism? (2011, methodology): “Prior literature has found that the value relevance of accounting information has declined in recent years (Lev and Zarowin 1999; Francis and Schipper 1999; Core et al. 2003).”
Going digital: implications for firm value and performance (2019, unknown): “Indeed, Lev and Zarowin (1999) and Core et al. (2003) find that the value-relevance of accounting measures have decreased over time as a result of the greater importance of intangible investments.”
Does advertising spending really work? The intermediate role of analysts in the impact of advertising on firm value (2010, background): “No Osinga et al. (2010) Ad → Return/Risk +/− No Accounting/Finance Chemmanur and Yan (2010a, b) Ad → Return + No Core et al. (2003) Ad → Market-to-book ratio 0 No Han and Manry (2004) Ad → Stock Prices –”
Accounting for Intangibles - A Critical Review of Policy Recommendations (2008, background): “Thus it is interesting to consider a more recent study by Core et al. (2003) , who”
Evolution in Value Relevance of Accounting Information (2019, unknown): “Revenue growth captures expected growth in earnings (Core et al. 2003).”