Unbiased accounting is supposed to provide perfect economic information to decision makers. We identify three notions of unbiased accounting in the literature, promoting return-, cost-, or value-disclosure as guiding principle and evaluate them based on the criterion of informational...

In recent issues of the Journal of Applied Corporate Finance Friedl and Schwetzler (2011) and Bradley and Jarrell (2008, 2011) voiced opposing views on the relation between the retention rate/plowback rate and the growth rate in the context of the constant growth valuation model when considering...