Would anyone know any material whether it be books / articles / journals which explain how retained earnings affect stock valuation.
I'm specifically interested in knowing how the shareholders equity grows and anything related to that.
It's a hard one to find though there may be a simple reference somewhere. I've looked at 'The Theory of Investment Value' by John Bur Williams but it skips around any mention of how the retained earnings affect the company in any detail.
Thanks very much.