{"id":"https://openalex.org/W1925705606","doi":"https://doi.org/10.1111/j.1475-679x.2011.00428.x","title":"Accrual Accounting, Informational Sufficiency, and Equity Valuation","display_name":"Accrual Accounting, Informational Sufficiency, and Equity Valuation","publication_year":2011,"publication_date":"2011-09-01","ids":{"openalex":"https://openalex.org/W1925705606","doi":"https://doi.org/10.1111/j.1475-679x.2011.00428.x","mag":"1925705606"},"language":"en","primary_location":{"id":"doi:10.1111/j.1475-679x.2011.00428.x","doi":"https://doi.org/10.1111/j.1475-679x.2011.00428.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1475-679x.2011.00428.x","pdf_url":null,"source":{"id":"https://openalex.org/S111116695","display_name":"Journal of Accounting Research","issn_l":"0021-8456","issn":["0021-8456","1475-679X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Accounting Research","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://autopapers.ssrn.com/sol3/papers.cfm?abstract_id=1915637","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5060530632","display_name":"Alexander Nezlobin","orcid":"https://orcid.org/0000-0003-0179-7923","observed_orcids":["https://orcid.org/0000-0003-0179-7923"]},"institutions":[{"id":"https://openalex.org/I1174212","display_name":"University of Southern California","ror":"https://ror.org/03taz7m60","country_code":"US","type":"education","lineage":["https://openalex.org/I1174212"]},{"id":"https://openalex.org/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]},{"id":"https://openalex.org/I74973139","display_name":"Carnegie Mellon University","ror":"https://ror.org/05x2bcf33","country_code":"US","type":"education","lineage":["https://openalex.org/I74973139"]},{"id":"https://openalex.org/I78577930","display_name":"Columbia University","ror":"https://ror.org/00hj8s172","country_code":"US","type":"education","lineage":["https://openalex.org/I78577930"]},{"id":"https://openalex.org/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"ALEXANDER NEZLOBIN","raw_affiliation_strings":["Stern School of Business, New York University. This paper is a chapter from my dissertation that I completed at the Stanford University Graduate School of Business. I would like to thank my academic advisor, Stefan Reichelstein, for his continuous support, guidance, and encouragement. I am also grateful to Bill Beaver, Anne Beyer, Ilan Guttman, Jack Hughes, Maureen McNichols, Jim Ohlson, Joe Piotroski, Madhav Rajan, Haresh Sapra (the editor), Dan Taylor, and an anonymous referee for their comments and suggestions. This paper benefited from comments from seminar participants at Carnegie-Mellon University, Columbia University, Dartmouth College, INSEAD, New York University, University of California, Berkeley, University of California, Los Angeles, and University of Southern California. Last, but not least, I wish to acknowledge the advice and patient support of Nikolai Nezlobin and Polina Nezlobin","New York University (NYU), Leonard N. Stern School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Stern School of Business, New York University. This paper is a chapter from my dissertation that I completed at the Stanford University Graduate School of Business. I would like to thank my academic advisor, Stefan Reichelstein, for his continuous support, guidance, and encouragement. I am also grateful to Bill Beaver, Anne Beyer, Ilan Guttman, Jack Hughes, Maureen McNichols, Jim Ohlson, Joe Piotroski, Madhav Rajan, Haresh Sapra (the editor), Dan Taylor, and an anonymous referee for their comments and suggestions. This paper benefited from comments from seminar participants at Carnegie-Mellon University, Columbia University, Dartmouth College, INSEAD, New York University, University of California, Berkeley, University of California, Los Angeles, and University of Southern California. Last, but not least, I wish to acknowledge the advice and patient support of Nikolai Nezlobin and Polina Nezlobin","institution_ids":["https://openalex.org/I1174212","https://openalex.org/I57206974","https://openalex.org/I74973139","https://openalex.org/I78577930","https://openalex.org/I97018004"]},{"raw_affiliation_string":"New York University (NYU), Leonard N. Stern School of Business","institution_ids":["https://openalex.org/I57206974"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":5,"corresponding_author_ids":["https://openalex.org/A5060530632"],"corresponding_institution_ids":["https://openalex.org/I1174212","https://openalex.org/I57206974","https://openalex.org/I74973139","https://openalex.org/I78577930","https://openalex.org/I97018004"],"apc_list":{"value":4420,"currency":"USD","value_usd":4420},"apc_paid":null,"fwci":5.6754,"has_fulltext":false,"cited_by_count":21,"citation_normalized_percentile":{"value":0.9580886,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"50","issue":"1","first_page":"233","last_page":"273"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T13366","display_name":"Accounting Theory and Financial Reporting","score":0.5595999956130981,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T13366","display_name":"Accounting Theory and Financial Reporting","score":0.5595999956130981,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.39010000228881836,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.03889999911189079,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/accrual-accounting","display_name":"accrual accounting","score":0.9850000143051147},{"id":"https://openalex.org/keywords/depreciation","display_name":"depreciation","score":0.6029999852180481},{"id":"https://openalex.org/keywords/replacement-cost-accounting","display_name":"replacement cost accounting","score":0.9919999837875366},{"id":"https://openalex.org/keywords/stock-valuation","display_name":"stock valuation","score":0.7929999828338623},{"id":"https://openalex.org/keywords/value-relevant-information","display_name":"value-relevant information","score":0.7599999904632568},{"id":"https://openalex.org/keywords/book-value","display_name":"book value","score":0.7570000290870667},{"id":"https://openalex.org/keywords/firm-value","display_name":"firm value","score":0.30399999022483826}],"concepts":[{"id":"https://openalex.org/C4577558","wikidata":"https://www.wikidata.org/wiki/Q384475","display_name":"Accrual","level":3,"score":0.705703854560852},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.6173871755599976},{"id":"https://openalex.org/C43326092","wikidata":"https://www.wikidata.org/wiki/Q362098","display_name":"Historical cost","level":3,"score":0.6071293950080872},{"id":"https://openalex.org/C138838536","wikidata":"https://www.wikidata.org/wiki/Q7798507","display_name":"Throughput accounting","level":4,"score":0.5864661931991577},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.5852521061897278},{"id":"https://openalex.org/C163867264","wikidata":"https://www.wikidata.org/wiki/Q4672792","display_name":"Accounting information system","level":2,"score":0.572437584400177},{"id":"https://openalex.org/C190832808","wikidata":"https://www.wikidata.org/wiki/Q1900567","display_name":"Mark-to-market accounting","level":4,"score":0.5458815097808838},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.544777512550354},{"id":"https://openalex.org/C94107157","wikidata":"https://www.wikidata.org/wiki/Q1077518","display_name":"Cost accounting","level":2,"score":0.5171424746513367},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5108751654624939},{"id":"https://openalex.org/C126415523","wikidata":"https://www.wikidata.org/wiki/Q7233247","display_name":"Positive accounting","level":4,"score":0.45579349994659424},{"id":"https://openalex.org/C63149375","wikidata":"https://www.wikidata.org/wiki/Q14136184","display_name":"Fair value","level":2,"score":0.44377461075782776},{"id":"https://openalex.org/C74275925","wikidata":"https://www.wikidata.org/wiki/Q2990807","display_name":"Management accounting","level":2,"score":0.4426718056201935},{"id":"https://openalex.org/C202552767","wikidata":"https://www.wikidata.org/wiki/Q1901350","display_name":"Market value","level":2,"score":0.435558944940567},{"id":"https://openalex.org/C182931732","wikidata":"https://www.wikidata.org/wiki/Q339466","display_name":"Accounting method","level":2,"score":0.4300568997859955},{"id":"https://openalex.org/C195724061","wikidata":"https://www.wikidata.org/wiki/Q4672791","display_name":"Accounting identity","level":5,"score":0.4211004972457886},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.41954484581947327},{"id":"https://openalex.org/C30472729","wikidata":"https://www.wikidata.org/wiki/Q955421","display_name":"Fixed asset","level":3,"score":0.4178030788898468},{"id":"https://openalex.org/C169824061","wikidata":"https://www.wikidata.org/wiki/Q1761731","display_name":"Book value","level":3,"score":0.41731345653533936},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3780704140663147},{"id":"https://openalex.org/C544937707","wikidata":"https://www.wikidata.org/wiki/Q949180","display_name":"Financial accounting","level":3,"score":0.3462415933609009},{"id":"https://openalex.org/C2778348673","wikidata":"https://www.wikidata.org/wiki/Q739302","display_name":"Production (economics)","level":2,"score":0.1259203553199768},{"id":"https://openalex.org/C2781426361","wikidata":"https://www.wikidata.org/wiki/Q5326940","display_name":"Earnings","level":2,"score":0.07963815331459045},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1111/j.1475-679x.2011.00428.x","doi":"https://doi.org/10.1111/j.1475-679x.2011.00428.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1475-679x.2011.00428.x","pdf_url":null,"source":{"id":"https://openalex.org/S111116695","display_name":"Journal of Accounting Research","issn_l":"0021-8456","issn":["0021-8456","1475-679X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Accounting Research","raw_type":"journal-article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.634.6106","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.634.6106","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"https://server1.tepper.cmu.edu/Seminars/docs/nezlobin_job market paper.pdf","raw_type":"text"},{"id":"mag:1925705606","doi":null,"is_oa":true,"landing_page_url":"https://autopapers.ssrn.com/sol3/papers.cfm?abstract_id=1915637","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"pmh:oai:RePEc:bla:joares:v:50:y:2012:i:1:p:233-273","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1111/j.1475-679X.2011.00428.x","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"},{"id":"pmh:oai:eprints.lse.ac.uk:102354","doi":null,"is_oa":false,"landing_page_url":"http://eprints.lse.ac.uk/102354/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401593","display_name":"London School of Economics and Political Science Research Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Article"}],"best_oa_location":{"id":"mag:1925705606","doi":null,"is_oa":true,"landing_page_url":"https://autopapers.ssrn.com/sol3/papers.cfm?abstract_id=1915637","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":0.4099999964237213}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":34,"referenced_works":["https://openalex.org/W62168669","https://openalex.org/W648017865","https://openalex.org/W1498895452","https://openalex.org/W1550212574","https://openalex.org/W1561414467","https://openalex.org/W1563720526","https://openalex.org/W1571332894","https://openalex.org/W1964245799","https://openalex.org/W1965957190","https://openalex.org/W2031404699","https://openalex.org/W2034446748","https://openalex.org/W2042303096","https://openalex.org/W2049783972","https://openalex.org/W2059912207","https://openalex.org/W2079286316","https://openalex.org/W2079344287","https://openalex.org/W2090758019","https://openalex.org/W2129315710","https://openalex.org/W2130392613","https://openalex.org/W2314885096","https://openalex.org/W2316196609","https://openalex.org/W2334816433","https://openalex.org/W2335138673","https://openalex.org/W3121456122","https://openalex.org/W3122533566","https://openalex.org/W3122555292","https://openalex.org/W3122631656","https://openalex.org/W3122785700","https://openalex.org/W3122897525","https://openalex.org/W3123320789","https://openalex.org/W3123912628","https://openalex.org/W3125139305","https://openalex.org/W3125687079","https://openalex.org/W3125788531"],"related_works":["https://openalex.org/W2277145178","https://openalex.org/W2316196609","https://openalex.org/W2903351177","https://openalex.org/W2334393919","https://openalex.org/W2380538982","https://openalex.org/W3122785700","https://openalex.org/W7164651848","https://openalex.org/W7137231898","https://openalex.org/W3010101365","https://openalex.org/W7136689182"],"abstract_inverted_index":{"ABSTRACT":[0],"This":[1],"paper":[2],"studies":[3],"accrual":[4,29],"accounting":[5,30,38,74,103,120,125],"and":[6,18,105],"equity":[7],"valuation":[8],"in":[9,21],"the":[10,40,51,80,92,109,123],"context":[11],"of":[12,43,79,85,91,101,108],"a":[13,27,59,83,99],"firm":[14,81,93],"that":[15,33,53,71,117],"makes":[16],"repeated":[17],"overlapping":[19],"investments":[20],"productive":[22],"capacity.":[23],"The":[24,88],"analysis":[25],"identifies":[26],"particular":[28],"(depreciation)":[31],"rule":[32,126],"is":[34,47,69,115,121],"termed":[35],"replacement":[36,72,118],"cost":[37,73,119],"because":[39],"book":[41],"value":[42,52,90],"existing":[44],"capacity":[45],"assets":[46,55],"set":[48],"equal":[49],"to":[50,63],"such":[54],"would":[56],"have":[57],"if":[58],"competitive":[60],"market":[61],"were":[62],"exist":[64],"for":[65],"used":[66],"assets.":[67],"It":[68],"shown":[70,116],"aggregates":[75],"past":[76],"investment":[77],"decisions":[78],"without":[82],"loss":[84],"value\u2010relevant":[86],"information.":[87],"intrinsic":[89],"can":[94],"then":[95],"be":[96],"expressed":[97],"as":[98],"function":[100],"current":[102],"data":[104],"certain":[106],"parameters":[107],"firm\u2019s":[110],"operating":[111],"environment.":[112],"Further,":[113],"it":[114],"essentially":[122],"only":[124],"with":[127],"this":[128],"informational":[129],"sufficiency":[130],"property.":[131]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":2},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-27T15:51:10.671819","created_date":"2016-06-24T00:00:00"}
