Want to research the value relevance of non-GAAP figures in the field of company valuation. Especially interested in non-GAAP figures/measures like the adjusted EBITDA, and if there is any research that suggest if adjusted EBITDA is better for predicting cash flows etc.
The following 4 research papers and book may help you out in this regard:
The value relevance of mandatory non‐GAAP earnings
ER Venter, D Emanuel, SF Cahan - Abacus, 2014 - Wiley Online Library
Non‐GAAP reporting: Evidence from academia and current practice
DE Black, TE Christensen, JT Ciesielski… - Journal of Business …, 2018 - Wiley Online Library
Non‐GAAP earnings disclosure in loss firms
E Leung, D Veenman - Journal of Accounting Research, 2018 - Wiley Online Library
The value relevance of IFRS earnings totals and subtotals and non-GAAP performance measures
G Clinch, A Tarca, M Wee - Available at SSRN 3178567, 2018 - papers.ssrn.com
[BOOK] The pitfalls of non-GAAP metrics
H Sherman, S Young, P Healy, M Barth, C Wasley… - 2018 - researchgate.net
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