| dc.contributor | 會計系 | |
| dc.creator (作者) | 陳漢鐘 | |
| dc.creator (作者) | Chen, Han-Chung;Chiang, Chia-Hsin;Liao, Chih-Hsien | |
| dc.date (日期) | 2025-11 | |
| dc.date.accessioned | 11-Aug-2026 13:25:29 (UTC+8) | - |
| dc.date.available | 11-Aug-2026 13:25:29 (UTC+8) | - |
| dc.date.issued (上傳時間) | 11-Aug-2026 13:25:29 (UTC+8) | - |
| dc.identifier.uri (URI) | https://ah.lib.nccu.edu.tw/item?item_id=184428 | - |
| dc.description.abstract (摘要) | This study examines the relationship between the comparability of non-generally accepted accounting principles (GAAP) earnings and the cost of equity capital. Using data from 1998 to 2020, we find that greater non-GAAP earnings comparability is associated with a lower cost of equity capital. Furthermore, the effect of non-GAAP comparability is in addition to and significantly greater than the effect of GAAP comparability. This suggests that investors place more weight on the comparability of non-GAAP figures in determining their required rate of return. Additional cross-sectional analyses suggest that the negative association between non-GAAP comparability and the cost of equity is more pronounced for firms with weaker information environment or those facing stronger product market competition. The findings highlight the importance of non-GAAP earnings comparability as a crucial factor affecting capital market participants. Our evidence also provides insights for policy makers seeking to improve the comparability of non-GAAP metrics. | |
| dc.format.extent | 105 bytes | - |
| dc.format.mimetype | text/html | - |
| dc.relation (關聯) | Accounting Horizons, pp.1-25 | |
| dc.subject (關鍵詞) | comparability; non-GAAP earnings; cost of equity; information environment | |
| dc.title (題名) | Non-GAAP Earnings Comparability and Cost of Equity Capital | |
| dc.type (資料類型) | article | |
| dc.identifier.doi (DOI) | 10.2308/HORIZONS-2023-159 | |
| dc.doi.uri (DOI) | https://doi.org/10.2308/HORIZONS-2023-159 | |
