Results 251 to 260 of about 876,779 (294)

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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The Role of Smog in Firm Valuation

Emerging Markets Finance and Trade, 2021
This paper examines the influence of smog on firm earnings and information content using the data of Chinese A share listed firms and the air quality monitoring data released by the China National ...
Muze Peng, Yating Zeng, David C. Yang, Bin Li   +3 more
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Accounting diversity and firm valuation

The International Journal of Accounting, 1998
Abstract We examine accounting numbers and stock prices across three countries: Germany, Norway, and the United Kingdom (UK). The accounting systems in the three countries differ in faithfulness to clean surplus accounting and in conservatism. We address three questions.
Raymond D. King, John Christian Langli
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The Purpose of the Firm, Valuation, and the Management of Intangibles

Journal of Applied Corporate Finance, 2017
This article provides a different way of thinking about, and responding to, four important issues that confront most public companies. First, in articulating the overarching corporate purpose, the author suggests a middle ground between shareholder value maximization and stakeholder theory that aims to achieve the end result of value maximization while
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The Valuation of Private Firms

2017
The absence of time series and other public data about a private company forces the analyst to estimate some of the parameters required to carry on the valuation. In particular the beta, cost of debt and growth rate are needed for the purpose. When the information about comparable firms is acquired, it is then possible to estimate the beta as an ...
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The Role of Revenue in Firm Valuation

Accounting Horizons, 2008
SYNOPSIS: This study examines the role of revenue in valuing firms beyond earnings and investigates whether this (1) is pervasive or limited to certain situations in which earnings may be less informative, (2) is sensitive to nonlinearity in the relation between returns and earnings, and (3) has changed over time. Our analysis indicates that revenue is
Uday Chandra, Byung T. Ro
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THE COST OF CAPITAL AND VALUATION OF A TWO‐COUNTRY FIRM

The Journal of Finance, 1974
THIS SEQUENCE OF COMMENT and reply are the end-product of a lengthy series of exchanges between Professors Goldberg and Lee and me in the course of which their comment has been revised twice. The trouble they have gone to enables me to define more clearly the issues between us, an opportunity for which I am grateful.
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Firm Valuation, Corporate Taxes, and Default Risk

The Journal of Finance, 1975
SINCE MODIGLIANI AND MILLER [10] demonstrated that the values of firms in the same risk class are equal and are independent of the capital structure of the firm if the probability of default is zero and there are no taxes, a number of extensions of these results to the case of default risk have been given by Stiglitz [16], Smith [15], Baron [2, 3], and
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