Adjusted Earnings Yields and Real Rates of Return

Palkar, Darshana D.; Wilcox, Stephen E.

doi:10.2469/faj.v65.n5.3

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Cited by 6 publications

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“…Under U.S. generally accepted accounting principles (GAAP), financial statements (e.g., balance sheets and income statements) are nominal; that is, they are not adjusted for aggregate price-level changes in the dollar's purchasing power over time (e.g., Wilcox 2007;Palkar and Wilcox 2009;Konchitchki 2011). This approach leads to loss of information from U.S. financial statements because the purchasing power of the dollar does change over time, resulting in inflation.…”

Section: Introductionmentioning

confidence: 99%