The decision of whether to buy, hold or sell equities depends on whether the current price reflects the stock’s intrinsic or fundamental value. The residual income valuation model expresses this fundamental value as a function of current book value of equity plus the sum of discounted expected...

We review the academic literature on the use of financial reporting information by capital providers. We classify our findings by investor type and by information objective. While most capital providers use accounting information, our survey indicates that they do so in a variety of ways with...

National Health Service trusts are required to report publicly on two distinct aspects of their activities: finance and patient care. Financial information is included in an annual report and accounts, while patient care performance is released in league tables as part of the Patient’s...

This article discusses the external auditing regime of NHS trusts and analyses the fees charged by their auditors. It adapts approaches developed in the private sector to investigate audit fees paid by NHS trusts and finds that, while similar factors are associated with the audit fees of trusts,...