Empirical Test Of The Ohlson Model: Evidence From The Mauritian Equity Market
用Ohlson模型检验毛里求斯股市1998-2006年38家公司的会计信息价值相关性，发现盈利和账面价值对股价有解释力，且金融与非金融公司存在差异。
This study investigates the existence of value relevance of accounting information in Mauritius Stock Market using the Ohlson model (1995), which encourages the adoption of the historical price model in value relevance studies, defining value as a function of earnings and book values. Using data for the period 1998-2006, the residual earnings and clean surplus book values of thirty eight (38) companies have been computed and analysed alongside their respective quoted market prices. Results from the analysis showed that earnings and book values have value relevance in the price of shares listed on the stock exchange. The study also reveals that there is a variation with regard to value relevance of financial and non-financial firms. Keyword: Ohlson Model, Equity, Accounting Information.