Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/30466
Title: Value relevance of operating income versus non-operating income in the Taiwan stock exchange
Authors: Bao, BH
Bao, DH
Issue Date: 2004
Publisher: Elsevier
Source: Advances in international accounting, 2004, v. 17, p. 103-117 How to cite?
Journal: Advances in international accounting 
Abstract: Taiwanese firms generally have a higher proportion of non-operating income than U.S. and U.K. firms. Taiwan also has many investors who focus only on short-term returns and ignore risks. It therefore is possible that non-operating income is at least as value relevant as operating income in the Taiwan Stock Exchange. Results show that valuation models based on earnings components have a higher explanatory power than those based solely on earnings. The contribution of non-operating income is not significantly different from that of operating income.
URI: http://hdl.handle.net/10397/30466
ISSN: 0897-3660
DOI: 10.1016/S0897-3660(04)17006-2
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