Results 211 to 220 of about 10,834 (260)

A Dynamic Model of Firm Valuation

Financial Review, 2018
AbstractWe propose a dynamic version of the dividend discount model, solve it in closed form, and assess its empirical validity. The valuation method is tractable and can be easily implemented. We find that our model produces equity value forecasts that are very close to market prices, and explains a large proportion of the observed variation in share ...
Lazzati, Natalia, Menichini, Amilcar A.
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The valuation of IPO and SEO firms

Journal of Empirical Finance, 2001
We examine the pricing of initial public offering (IPO) and seasoned equity offering (SEO) firms using a stochastic frontier methodology. The stochastic frontier framework models the difference between the maximum possible value of the firm and its actual market capitalization at the time of the offering as a function of observable firm characteristics.
Koop, G.M., Li, K.
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Corporate governance and firm valuation

Journal of Accounting and Public Policy, 2005
Abstract Gompers et al. [Gompers, P., Ishii, J., Metrick, A., 2003. Corporate governance and equity prices. Quarterly Journal of Economics 118, 107–155] created G-Index, a summary measure of corporate governance based on 24 firm-specific provisions, and showed that more democratic firms are more valuable. Bebchuk et al.
Lawrence D. Brown, Marcus L. Caylor
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Firm Relationships and Valuation

SSRN Electronic Journal, 2019
We propose a model to study firm relationships that endogenously determine the correlation structure of asset cash flows. Forming a relationship makes firms face the following trade-off in their valuations: On the one hand, collaboration generates an additional payoff component with a positive mean.
Jordi Mondria, Liyan Yang
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Valuation of Bankrupt Firms

Review of Financial Studies, 1998
This study compares the market value of firms that reorganize in bankruptcy with estimates of value based on management's published cash flow projections. We estimate firm values using models that have been shown in other contexts to generate relatively precise estimates of value.
Stuart C. Gilson, Edith S. Hotchkiss, Richard S. Ruback   +2 more
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Valuation of a Firm with a Tax Loss Carryover

Journal of the American Taxation Association, 2003
This paper examines the effects of a tax loss carryover on the market and book values of a firm's assets. The loss carryover has a direct effect on market value by sheltering future income from tax, and a direct effect on book value due to the recognition of a deferred tax asset.
de Waegenaere, A., Sansing, R.C., Wielhouwer, J.L.   +2 more
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Options Trading Activity and Firm Valuation

SSRN Electronic Journal, 2007
We study the effect of options trading volume on the value of the underlying firm after controlling for other variables that may affect firm value. The volume of options trading might have an effect on firm value because it helps to complete the market (allocational efficiency) and because the options market impounds information faster than the stock ...
Roll, Richard, Schwartz, Eduardo, Subrahmanyam, Avanidhar   +2 more
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Asset Valuation, Firm Investment, and Firm Diversification

The Journal of Business, 1972
In Section I of the present paper, it is shown that Proposition I (relationship between income streams) and the irrelevancy of firm-investment diversification hold in the multiperiod case, with risky (as well as riskless) debt and with no assumption regarding which income-stream parameters (e.g.
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Optimal Financial Policy and Firm Valuation

The Journal of Finance, 1984
SINCE THE CLASSIC WORK of Miller and Modigliani (1961) laid down the principles for the valuation of firms under conditions of certainty some two decades ago academic interest in the problem of valuing the individual firm has waned. Yet, in addition to the obvious importance of this problem for security analysts, investors, and acquirers of ...
Brennan, Michael J, Schwartz, Eduardo S
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Firm (Re)valuation and Payouts

SSRN Electronic Journal
Abstract We document an inverted‐U pattern in the frequency and magnitude of share repurchases across firms arranged into deciles (value to price), and a symmetric opposite pattern in equity issuances. These patterns cannot be explained by the market timing theory, which predicts monotonically increasing share repurchases or ...
Chintal A. Desai, Anand M. Vijh
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