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Accounting and prices

In: Handbook of Financial Decision Making

Author

Listed:
  • Steven J. Monahan

Abstract

I discuss the role that the financial reporting system plays in facilitating the security price system. Security prices are important and the primary objective of financial reporting is to provide investors with information that they can use when valuing companies and the securities that they issue. Moreover, analytical and empirical evidence implies that the financial reporting system plays a central role in determining enterprise and equity value. Nonetheless, fundamental questions about the role that the financial reporting system plays in facilitating the security price system remain unanswered.

Suggested Citation

  • Steven J. Monahan, 2023. "Accounting and prices," Chapters, in: Gilles Hilary & David McLean (ed.), Handbook of Financial Decision Making, chapter 12, pages 256-276, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21126_12
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    File URL: https://www.elgaronline.com/doi/10.4337/9781802204179.00025
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