... Philippines, and Taiwan, and declining for Indonesia and Thailand and mixed for Malaysia. Similarly, theincremental explanatory power of BVPS is increasing for Korea, the Philippines, and Taiwan, ... Indonesia and Thailand, and mixed for Malaysia. For theincremental explanatory power of residual earnings, results show increases in thePhilippines, Taiwan, and Thailand, decreases for Korea, and ... 2000(over 5 and 2 years) in Indonesia and the Philippines. For comparison, King and Langli(1998) find ROE over the 1980s and 1990s to be about 6 percent in Germany, 10 percentin Norway, and 13 percent...