The purpose of this paper is to obtain the optimal competitive outputs for three different firms having constant risk utility functions.

Liability, Deferred revenue, Breakage, Accrued expense

Price variation accounting, Price-level adjusted accountings, Net income, Time value of money

Published accounting reports-the balance sheet, income statement, and funds statement-are prepared for the use of investors, creditors, and others with whom the accountant is not in direct contact. It is therefore difficult for him to determine which data they find useful. Consequently, several arguments have arisen as to which data are the best. Examples of these competing theories are the current operating performance concept versus clean surplus, price level versus historical cost depreciation, and sales versus cash flow versus net income. Even if accountants knew which constructs were best, other questions would remain. For example, are the annual data published in corporate reports used by investors to make decisions? Do quarterly reports add useful information? Most corporations publish comparative data that date back many years. Do stockholders use these past data? This paper seeks to answer some of these questions by determining, empirically, which published data are used by investors, as reflected by changes in the market price of common stocks. To provide a meaningful test, the relationship between common stock prices, published accounting information and other factors is specified first. Then models are developed that describe how investors may use, published accounting data. Finally the model is tested with relevant data, and conclusions are drawn.

R. P. Manes, J. M. Samuels, D. J. Smyth, Inventories and Sales: A Cross Section Study, Journal of Accounting Research, Vol. 5, Empirical Research in Accounting: Selected Studies 1967 (1967), pp. 139-156

Journal Article The Consumption and the Output Turnpike Theorems in a von Neumann Type of Model—A Finite Term Problem Get access J. Tsukui J. Tsukui Tokyo College of Economics Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 34, Issue 1, January 1967, Pages 85–93, https://doi.org/10.2307/2296572 Published: 01 January 1967

Journal Article A Note on the Bohm-Bawerk/Wicksell Theory of Interest Get access J. Hirshleifer J. Hirshleifer University of California, Los Angeles Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 34, Issue 2, April 1967, Pages 191–199, https://doi.org/10.2307/2296808 Published: 01 April 1967

Journal Article The Equivalence of Liquidity Preference and Loanable Funds Theories in Stock-Flow Economies: A Comment Get access R. J. Ruffin R. J. Ruffin Washington State University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 34, Issue 4, October 1967, Pages 420–421, https://doi.org/10.2307/2296561 Published: 01 October 1967

Journal Article Optimum Growth when Technology is Changing Get access J. A. Mirrlees J. A. Mirrlees Trinity College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 34, Issue 1, January 1967, Pages 95–124, https://doi.org/10.2307/2296573 Published: 01 January 1967