Evidence on the Usefulness of Alternative Earnings per Share Measures
研究了1997年美国财务会计准则委员会新每股收益报告规则下，基本每股收益、主要每股收益和完全稀释每股收益对股价的解释力，发现新标准可能提供更好的信息。
In February 1997, the Financial Accounting Standards Board adopted new reporting rules for earnings per share. The new standard replaces “primary” EPS with “basic” EPS and makes a minor adjustment in the computation of “fully diluted” EPS. A comparison of the extent to which basic, primary, and fully diluted EPS explain variation in stock prices for a large sample of NYSE- and Amex-listed firms from 1989 to 1995 suggests that analysts and investors are likely to be no worse off under the new standard than under the old and may, in fact, have access to better information under the new standard because of its enhanced disclosure requirements.