Resumen de Accounting Valuation and Cost of Equity Capital Dynamics

Jeffrey L. Callen

• This paper provides a selective survey of Ohlson and Vuolteenaho-type accounting valuation models. The focus is on the valuation, return, and cost of capital dynamics of these models. Emphasis is placed primarily on variations of these models that incorporate risk aversion, parameter uncertainty, and/or time-varying costs of equity. Empirical papers that address the dynamics of these models are also surveyed.