An Empirical Test of the Effect of Asset Aggregation on Valuation Accuracy
通过实证检验，探讨在通货膨胀背景下使用不同数量价格指数进行资产估值对准确性的影响，为会计和税务报告提供参考。
Significant increases in the general price level during the past two decades have precipitated an ongoing debate concerning possible inadequacies of financial reports and taxation laws based on historical costs. Many proposed solutions have centered on various methods of asset valuation. Two American Accounting Association committees [1964 and 1966] suggested that direct methods of valuation estimation (appraisal, market quotation) were theoretically preferred, but that adjustments by price indices could be used as surrogates. Regarding the latter, however, there is some uncertainty about how many price indices should be used in the valuation process. Some suggest that a number of price indices will be necessary to ensure reasonably accurate valuations (Arthur Andersen & Co. [1979]). In contrast, others suggest that the use of numerous indices may not significantly improve valuation accuracy (Boersema [1974]), and Sunder's [1978] analysis shows that the use of additional indices sometimes results in less accurate valuation. The purpose of this paper is to offer empirical evidence concerning the effect of the number of price indices on the accuracy of valuation. In Section 1, I briefly review prior works that have addressed similar research questions. The methodology is described in Section 2, followed by the results and analysis in Section 3. Section 4 contains the limitations and conclusions of the study.