Download or read book Cross sectional Tobin s Q written by Frederico Belo and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The neoclassical investment model matches cross-sectional asset prices both in first differences and in levels. With ten book-to-market deciles as the testing portfolios, the investment model largely matches the Tobin's Q spread and the average return spread across the extreme deciles. The parameter estimates imply low adjustment costs around 1.7% of sales. The model's fit results from three aspects of our econometric strategy: (i) We test the model at the portfolio level to alleviate the impact of measurement errors; (ii) we match the first moment to mitigate the impact of temporal misalignment between asset prices and investment; and (iii) we allow for nonlinear marginal costs of investment. Our evidence suggests that any differences between the intrinsic value of equity and the market value of equity tend to dissipate in the long run.
Download or read book Tobin s Q and the Cross Sectional Variation of Stock Returns written by Ian R. Davidson and published by . This book was released on 2002 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Statement Analysis written by Martin S. Fridson and published by John Wiley & Sons. This book was released on 2002-10-01 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Financial Statement Analysis A Practitioner's Guide Third Edition "This is an illuminating and insightful tour of financial statements, how they can be used to inform, how they can be used to mislead, and how they can be used to analyze the financial health of a company." -Professor Jay O. Light Harvard Business School "Financial Statement Analysis should be required reading for anyone who puts a dime to work in the securities markets or recommends that others do the same." -Jack L. Rivkin Executive Vice President (retired) Citigroup Investments "Fridson and Alvarez provide a valuable practical guide for understanding, interpreting, and critically assessing financial reports put out by firms. Their discussion of profits-'quality of earnings'-is particularly insightful given the recent spate of reporting problems encountered by firms. I highly recommend their book to anyone interested in getting behind the numbers as a means of predicting future profits and stock prices." -Paul Brown Chair-Department of Accounting Leonard N. Stern School of Business, NYU "Let this book assist in financial awareness and transparency and higher standards of reporting, and accountability to all stakeholders." -Patricia A. Small Treasurer Emeritus, University of California Partner, KCM Investment Advisors "This book is a polished gem covering the analysis of financial statements. It is thorough, skeptical and extremely practical in its review." -Daniel J. Fuss Vice Chairman Loomis, Sayles & Company, LP
Download or read book Handbook of Marketing Strategy written by Venkatesh Shankar and published by Edward Elgar Publishing. This book was released on 2012 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative, comprehensive, and accessible volume by leading global experts provides a broad overview of marketing strategy issues and questions, including its evolution, competitor analysis, customer management, resource allocation, dynamics, branding, advertising, multichannel management, digital marketing and financial aspects of marketing. The Handbook comprises seven broad topics. Part I focuses on the conceptual and organizational aspects of marketing strategy while Part II deals with understanding competition. Customers and customer-based strategy, marketing strategy decisions, and branding and brand strategies are covered in the next three parts while Part VI looks at marketing strategy dynamics. The final part discusses the impact of marketing strategy on performance variables such as sales, market share, shareholder value and stakeholder value. All of the chapters in this Handbook offer in-depth analyses of research developments, provide frameworks for analyzing key issues, and highlight important unresolved problems in marketing strategy. Collectively, they provide a deep understanding of and key insights into the foundations, antecedents and consequences of marketing strategy. This compendium is an essential resource guide for researchers, doctoral students, practitioners, and consultants in the field of marketing strategy.
Download or read book Investment Valuation written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2002-01-31 with total page 1014 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuation is a topic that is extensively covered in business degree programs throughout the country. Damodaran's revisions to "Investment Valuation" are an addition to the needs of these programs.
Download or read book Damodaran on Valuation written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2016-02-08 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do." -- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of today?s critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You'll gain an understanding of the vitality of today?s valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.
Download or read book Essays on the Cross sectional and Time series Behavior of Stock Returns written by Vinod Chandrashekaran and published by . This book was released on 1994 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Approaches to CSR Sustainability and Accountability Volume V written by Kıymet Tunca Çalıyurt and published by Springer Nature. This book was released on with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Ownership and Corporate Governance written by Stijn Claessens and published by World Bank Publications. This book was released on 1997 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book James Tobin written by R. Dimand and published by Springer. This book was released on 2014-10-30 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: James Tobin, 1981 Nobel laureate in economics, was the outstanding monetary economist among American Keynesian economists. This book, the first written about James Tobin, examines his leading role as a Keynesian macroeconomist and monetary economist, and considers the continuing relevance of his ideas.
Download or read book Firm Value written by Paolo Saona Hoffmann and published by BoD – Books on Demand. This book was released on 2018-08-01 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume aims to discuss the most contemporary state of the determinants of the firm value. This book presents theoretical works as well as empirical studies that contrast the arguments offered by the leading, ground-breaking theories on the firm value. What variables determine the firm value? Are these determinants controllable or uncontrollable by the managers of the companies? Is the impact of corporate governance systems on the firm value symmetrical between different institutional contexts? Do the financial reports affect the value of the firm? What role does corporate social responsibility play as a determinant of the firm value? These and other questions are analyzed and scrutinized step by step throughout this book.
Download or read book Dynamical Corporate Finance written by Umberto Sagliaschi and published by Springer Nature. This book was released on 2021-07-29 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: The way in which leverage and its expected dynamics impact on firm valuation is very different from what is assumed by the traditional static capital structure framework. Recent work that allows the firm to restructure its debt over time proves to be able to explain much of the observed cross-sectional and time-series variation in leverage, while static capital structure predictions do not. The purpose of this book is to re-characterize the firm’s valuation process within a dynamical capital structure environment, by drawing on a vast body of recent and more traditional theoretical insights and empirical findings on firm evaluation, also including asset pricing literature, offering a new setting in which practitioners and researchers are provided with new tools to anticipate changes in capital structure and setting prices for firm’s debt and equity accordingly.
Download or read book Business Analysis and Valuation written by Sue Joy Wright and published by . This book was released on 2014 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Analysis and Valuation has been developed specifically for students undertaking accounting Valuation subjects. With a significant number of case studies exploring various issues in this field, including a running chapter example, it offers a practical and in-depth approach. This second edition of the Palepu text has been revitalised with all new Australian content in parts 1-3, making this edition predominantly local, while still retaining a selection of the much admired and rigorous Harvard case studies in part 4. Retaining the same author team, this new edition presents the field of valuation accounting in the Australian context in a clear, logical and thorough manner.
Download or read book A Literature Review on the Impact of Investment in Human Capital on Economic Success written by Gina Roberts and published by diplom.de. This book was released on 2004-10-26 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: Champions of Human Capital in organisations, such as Human Resources directors, are in need of empirical evidence to justify to board members, CEOs and ultimately shareholders why financial investments into Human Capital should be increased or at least maintained. The research questions posed in this thesis take on the challenge to find empirical evidence that investment in Human Capital, through Human Resources, has a positive impact on intermediate as well as accounting and share-value indicators of organisational performance. This literature review summarises, integrates and evaluates research published between 1998 and 2003 pertaining to the direct and indirect relationship between Human Resources on different indicators of intermediate and bottom-line performance. The review is comprised of 31 articles clustered into the following topics: strategic HRM, Human Resources Development, technology, diverse workforces and flexible working conditions and methodological issues in HR-organisational performance research. Evidence for the direct and indirect impact of HR on organisational performance is discussed and the findings are interpreted with reference to Ostroff and Bowen s Multi-Level Model (2000), which explains the individual, organisational and inter-level relationships between Human Resources and organisational performance. Enabling conditions that strengthen the HR-organisational performance relationship are identified. Methodological issues such as levels of analyses, short-term vs. long-term perspectives and generalisability are evaluated in detail. Employee benefits from enhanced organisational performance and barriers to the diffusion of high-performance work practices are research questions that still remain unanswered (Ichniowski et al., 2000). Future research should focus on building up a portfolio of studies at different levels of analyses and include a broader range of organisational performance variables that are also relevant employees as well as shareholders and top management. The implications of the research findings for HR directors and corporate strategy functions are presented. Inhaltsverzeichnis:Table of Contents: 1.Introduction4 2.Theoretical Background7 2.1How is Human Capital Conceptualised in the Management Literature?7 2.2The Human Capital Project8 2.3The Story so Far: Theoretical Perspectives on Human Resources Management9 2.3.1Current State of Research on HR Practices and Firm [...]
Download or read book Corporate Governance in China written by Jian Chen and published by Psychology Press. This book was released on 2005 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The nature of corporate governance is a key determinant of corporate performance and, therefore, of a country's overall economic power. This title examines key questions relating to corporate governance in China, exploring differences between private and state-owned companies.
Download or read book The Oxford Handbook of Corporate Law and Governance written by Jeffrey Neil Gordon and published by Oxford University Press. This book was released on 2018 with total page 1217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate law and governance are at the forefront of regulatory activities worldwide, and subject to increasing public attention in the wake of the Global Financial Crisis. Comprehensively referencing the key debates, the Handbook provides a much-needed framework for understanding the aims and methods of legal research in the field.
Download or read book Industrial Market Structure and Economic Performance written by Frederic M. Scherer and published by . This book was released on 1980 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
