This paper studies some fundamental issues concerning the relation between market value of equity and the fair value of financial derivatives determined according to International Accounting Standard No. 39, Financial Instruments: Recognition and Measurement (IAS 39) in non-aktive markets. It is...

In this paper we study the changes in corporate valuations induced by the adoption of the euro as the common currency in Europe. We use corporate-evel data from ten countries that adopted the euro, the three EU countries that did not start using the euro, as well as Norway and Switzerland. We...

In this paper we study the changes in corporate valuation, investments, and financing choices induced by the formation of Economic and Monetary Union (EMU) in Europe. We use corporate-level data from ten countries that adopted the euro, the three EU countries that did not join EMU, as well as...