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March 18, 2026The Accounting Review

Exchange Valuation: An Empirical Test.

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Authors

RSRobert R. SterlingUniversity of Notre DameJTJohn O. TollefsonUniversity of KansasRFRichard E. FlahertyCollege of Accounting

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Implication

This empirical test compares barter and cash exchange outcomes, highlighting implications for valuation theories.

Key Points

  • The article examines how barter transactions differ from cash exchanges and critiques existing valuation theories.
  • Conducted discriminant analyses comparing responses in barter versus cash scenarios.
  • Analyzed book value versus market value to assess situational variables.
  • Identified effects of liquidity, acquisition, and conservatism on exchange valuations.
  • No significant variation was found in barter responses compared to cash exchanges.
  • 23 percent of practitioners support applying book value to barters, while 77 percent favor market value approaches.
  • A large portion of the variance in valuation remains unexplained, suggesting unrecognized implicit criteria.

Cite This Study

Sterling et al. (1972) studied this question.

synapsesocial.com/papers/69ba422e4e9516ffd37a232ehttps://doi.org/10.2308/tar-4490210
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1"Exploring Differences in the Decision-making Process between Online Auction Sellers and Barter Site Exchangers"2024
  2. 2The Role of Liquidity in Exchange Valuation.1971
  3. 3Comparability and Objectivity of Exit Value Accounting: A Reply.1976
  4. 4Testing Comparability and Objectivity of Exit Value Accounting.1975
  5. 5CONTRASTING THEORIES OF PROFIT.1936