From Business Accounting to Market Valuations

Woongki Lee
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Woongki Lee: Yonsei University

No h9q8w_v1, SocArXiv from Center for Open Science

Abstract: In this study, we examine how accounting variables represent the core elements of firm activity and how the relations among these variables connect business accounting to market valuation. Building on this account, we develop a unified framework that expresses market values in accounting terms. A key contribution of this framework is that it places market-based and book-based measures of return within a single coherent structure. This unification, in turn, provides a new theoretical basis for refining central principles in corporate finance and valuation.

Date: 2026-08-01
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:h9q8w_v1

DOI: 10.31235/osf.io/h9q8w_v1

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