ASSET PRICING AND FINANCIAL REPORTING WITH CHANGING PRICES
实证检验SFAS No.33通胀披露是否反映在证券回报中，发现现行成本数据与市场信息一致，且提供了贝塔系数未包含的风险信息。
This study empirically investigates the recent SFAS No. 33 requirements to determine if the inflation disclosures, or information similar to it, are impounded in security returns. An attempt is also made to determine which of the two diverse disclosures best represent the information impomded by the market. The investigation utilizes a methodological framework arising out of currently accepted asset pricing theory. The results suggest that the current cost data parallels the information impounded in security returns and that it provides risk information not included in the commonly employed systematic risk factor, beta.