The value relevance of EBITDA and book values: Evidence from the Johannesburg Stock Exchange

Orientation: This paper stems from Ohlson’s valuation framework, where residual income as a variable was substituted by the non-Generally Accepted Accounting Practices (GAAP) measure of earnings before interest, taxes, depreciation and amortisation (EBITDA). Research purpose: The primary purpose wa...

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Bibliographic Details
Main Authors: Ronald Nhleko, Daniel P. Schutte, Merwe Oberholzer
Format: Article
Language:English
Published: AOSIS 2023-09-01
Series:Journal of Economic and Financial Sciences
Subjects:
Online Access:https://jefjournal.org.za/index.php/jef/article/view/844