Ak, B Korcan; Dechow, Patricia M; Sun, Yuan; Wang, Annika Yu - In: Australian Journal of Management 38 (2013) 3, pp. 553-598
A firm in a steady state generates predictable income and investors can generally agree on its valuation. However, when a significant corporate event occurs this creates greater uncertainty and disagreement about firm valuation, and investors could prefer to avoid holding such a stock. We...