Clean Surplus Accounting Models and Market-based Accounting Research: A Review
Martin Walker
Accounting and Business Research, 1997, vol. 27, issue 4, 341-355
Abstract:
This paper reviews recent attempts to provide a rigorous theoretical basis for market-based accounting research based on the pioneering ideas of Ohlson. We argue that the Ohlson development can best be understood as an attempt to restate economic theories of income measurement in the light of advances in the economics of asset pricing under uncertainty. We contrast the Ohlson approach with other economic theories of financial reporting, and conclude that, while the Ohlson approach has made a significant contribution to understanding the theoretical basis of market-based accounting research, it remains to be seen whether the method can be extended beyond the simple linear models that have so far been developed.
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:taf:acctbr:v:27:y:1997:i:4:p:341-355
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DOI: 10.1080/00014788.1997.9729559
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