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文章基本信息

  • 标题:The Innovation of Human Resource Investment and Value Relevance in Equity Valuation
  • 本地全文:下载
  • 作者:Gee Jung Kwon
  • 期刊名称:Asian Social Science
  • 印刷版ISSN:1911-2017
  • 电子版ISSN:1911-2025
  • 出版年度:2011
  • 卷号:7
  • 期号:12
  • 页码:22
  • DOI:10.5539/ass.v7n12p22
  • 出版社:Canadian Center of Science and Education
  • 摘要:

    This paper explores the innovation and value relevance of human resource investment and market reactions of investors on education and training expense in Korean security markets over the period of 2001-2008. This study tests whether education and training expense is empirically associated with one year after earnings performance and the information content of education and training is immediately reacted in the Korean stock markets. The empirical result of this paper shows consistent results with the hypothesis of this paper. The results document that education and training investment which proxies for human resource investment have innovative value relevance and Korean stock market participants truly recognize the innovative information content of education and training expense.

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