...Ching‐Hsiang Lin; Wanncherng Wang Purpose In Taiwan, an employee stock bonus (ESB) was accounted for as an earnings distribution rather than an expense – a remnant of the dominance of tax law over accounting standards. To enhance the usefulness of accounting information, the Securities and Futures...

... next period's return of equity (ROE) and stock prices using disaggregated earnings data. Findings The results show that the mean adjusted R‐square significantly increases with the progressive disaggregation of earnings. The results also demonstrate that disaggregated components are better...