The Optimal Determination of the “Other Information” Variable in Ohlson 1995 Valuation Model

• 영문명: The Optimal Determination of the “Other Information” Variable in Ohlson 1995 Valuation Model
• 발행기관: 동아시아경상학회
• 저자명: Bolor BUREN Altan-Erdene BATBAYAR Khishigbayar LKHAGVASUREN
• 간행물 정보: 『East Asian Journal of Business Economics』Vol.12 No.2, 1~7쪽, 전체 7쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2024.06.30

영문 초록

Purpose: This study delves into the application of the Ohlson 1995 valuation model, particularly addressing the intricacies of the “Other information” variable. Our goal is to pinpoint the most suitable variables for substitution within this category, focusing specifically on the Mongolian Stock Exchange (MSE) context. Research design, data, and methodology: Employing data spanning from 2012 to 2022 from 60 MSE-listed companies, we conduct a comprehensive analysis encompassing both financial and non-financial indicators. Through meticulous examination, we aim to identify which variables effectively substitute for the “Other information” component of the Ohlson model. Results: Our findings reveal significant outcomes. While all financial variables within the model exhibit importance, certain non-financial indicators, notably the company's level and state ownership participation, emerge as particularly influential in determining stock prices on the MSE. Conclusions: This study not only contributes to a deeper understanding of valuation dynamics within the MSE but also provides actionable insights for future research endeavors. By refining key variables within the Ohlson model, this research enhances the accuracy and efficacy of financial analysis practices. Moreover, the implications extend to practitioners, offering valuable insights into the determinants of stock prices in the MSE and guiding strategic decision-making processes.

목차

1. Introduction

2. Theoretical Frame

3. Data and Methodology

4. Empirical Results

5. Conclusion

References

키워드

Ohlson Valuation Model “Other Information” Variable Market Value Book Value Piotroski Score Corporate Governance Indicators