P. Nguyen

Earnings, Book Value and the Limits of the Credibility Argument: Evidence from Non-Financial Listed Firms in Vietnam (2009–2024)

Two arguments in the literature bear on how accounting information should be priced in emerging markets. The first holds that where enforcement of financial reporting is weak, investors favour book value over earnings because book value depends less on managerial judgement. The second holds that value relevance falls w...