Accounting and Market-Value Measures of Profitability: Consistency, Determinants, and Uses
研究企业会计盈利指标与市场价值盈利指标的关系，发现两者在行业内外均有差异，并利用LISREL模型识别出研发强度、电视广告强度、杠杆率和行业增长是盈利的重要决定因素。
This study examines the relationship between accounting and market-value measures of profitability for individual firms. Differences in measures of profitability are observed both between and within industry groups and thus cannot be explained by differences in uncontrolled industry-specific influences. We suggest that both accounting and market can be used as unique but imperfect indicators of profitability. Using a LISREL model approach, we find R & D intensity, television advertising intensity, leverage, and industry growth to be important determinants of firm profits.