LIFO‐FIFO, ACCOUNTING RATIOS AND MARKET RISK: A RE‐ASSESSMENT
重新检验了存货计价方法对会计风险指标与市场风险之间关系的影响，发现基于先进先出法的预测优于市场预测，但后进先出法未能改善预测。
This paper re‐examines the effect of the inventory costing method on the association between accounting risk measures (ARMs) and market risk, and extends earlier research in several respects. The groups of FIFO and LIFO firms are matched on the basis of various financial characteristics to reduce selfselection bias, and the effect of inventory costing methods on the usefulness of ARMs in predicting market risk is investigated. The findings indicate that predictions based on FIFO show an improvement on market based predictions, but predictions based on LIFO fail to show such an improvement.