Due to judicial decisions the stock market prices are deemed to be the lower value limit in determining the compensations within structural measures according to German stock corporation law (e.g. squeeze-out of minority stockholders). By applying other valuation methods, in particular the...

This paper investigates whether, and if so, to what extent, Level 3 fair values disclosed by European banks provide useful information to investors and are reflected in firm value changes. Using a unique sample of 416 hand-collected firm-year observations from European banks reporting under...

This study examines the value relevance of fair-value-based pension information using data from German companies that have adopted IFRS or US-GAAP. German companies do not tradition-ally fund pension plans externally. They therefore report large net pension obligations on their balance sheets....

This paper examines how the reporting model for a firm's operating assets affects analyst forecast accuracy. We contrast UK and US investment property firms having real estate as their primary operating asset, exploiting that UK (US) firms report these assets at fair value (historical cost). We...

This paper emanates from the understanding of hyperreality – reality, and on the other hand based on the Baudrillarian postmodernist perspective. Thus, we aim to understand hyperreality and reality in accounting from the perspective of Baudrillarian pospodernism. A thesis by Macintosh...

Fair value concept is widely used in DCF (Discounted Cash Flow) business valuation. One of the main principle of fair value concept is full information symmetry between contracting parties. The assumption enforces specific way of FCF (Free Cash Flow) estimation: all areas of inefficiency of...