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Residual income and value creation: An investigation into the lost-capital paradigm

Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2007

This paper presents a new way of measuring residual income, originally introduced by Magni (2000a, 2000b, 2003). Contrary to the standard residual income, the capital charge is equal to the capital lost by investors. The lost capital may be viewed as (a) the foregone capital, (b) the capital...

Persistent link: https://www.econbiz.de/10011111180

Residual income and value creation: An investigation into the lost-capital paradigm

Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2007

Persistent link: https://www.econbiz.de/10005789544

The Separate Valuation Relevance of Earnings, Book Value and their Components in Profit and Loss Making Firms: UK Evidence

Akbar, S - Volkswirtschaftliche Fakultät, … - 2007

This study examines the separate value relevance of earnings, book value and their components in profit and loss-making firms. The investigation take place in a context that both profit and loss-making firms have different features that might affect conclusions concerning the value relevance of...

Persistent link: https://www.econbiz.de/10005789857

Market Valuation and Risk Assessment of Indian Banks using Black -Scholes -Merton Model

Sinha, Pankaj; Sharma, Sakshi; Sondhi, Kriti - Volkswirtschaftliche Fakultät, … - 2013

value and volatility of bank’s assets for a random sample of 13 Public and 8 Private sector banks in India over the period … from March 2003 to March 2012. Further, it calculates yearly Z-score for each bank, allowing for capital adequacy as per … value of bank’s assets obtained from Black-Scholes-Merton is characteristically below its enterprise value since market …

Persistent link: https://www.econbiz.de/10011259139

An analysis of the R&D effect on stock returns for European listed firms

duqi, andi; mirti, riccardo; torluccio, giuseppe - Volkswirtschaftliche Fakultät, … - 2011

Almost all studies on research and development (R&D) activity are based on US and British companies, and most of them show that this activity positively influences both stock returns and corporate value. This empirical study evaluates the effects of R&D on stock returns for a sample of listed...

Persistent link: https://www.econbiz.de/10011113269

Market Value and Patent Quality in Japanese Manufacturing Firms

Yasuo, Nakanishi; Setsuo, Yamada - Volkswirtschaftliche Fakultät, … - 2007

We investigate the effect of quality of patents on the market value of firms represented by the Tobin's q. We consider the number of objections as well as the number of citations. We construct the database of patent stock, citation-weighted patent stock and objection-weighted patent stock. Our...

Persistent link: https://www.econbiz.de/10005623395

Firm Value and the mis-use of the CAPM for valuation and decision making

Magni, Carlo Alberto - Volkswirtschaftliche Fakultät, … - 2005

This paper shows that a decision maker using the CAPM for valuing firms and making decisions may contradict Modigliani and Miller’s Proposition I, if he adopts the widely-accepted disequilibrium NPV. As a consequence, CAPM-minded agents employing this NPV are open to arbitrage losses and miss...

Persistent link: https://www.econbiz.de/10004980381

Interrelationship between taxes, capital structure decisions and value of the firm: A panel data study on Indian manufacturing firms

Sinha, Pankaj; Bansal, Vishakha - Volkswirtschaftliche Fakultät, … - 2014

Since the development of efficient proxies for taxes, many researchers have proved the existence of impact of tax on financing decisions. The ultimate aim of each business decision is to enhance the value of the firm; hence it is important to study the tax implications of financing decisions on...

Persistent link: https://www.econbiz.de/10011109655

Corporate Governance, Affirmative Action and Firm Value in Post-Apartheid South Africa: A Simultaneous Equation Approach

Ntim, Collins G. - Volkswirtschaftliche Fakultät, … - 2013

The post-Apartheid South African corporate governance (CG) model is a unique hybridisation of the traditional Anglo-American and Continental European-Asian CG models, distinctively requiring firms to explicitly comply with a number of affirmative action and stakeholder CG provisions, such as...

Persistent link: https://www.econbiz.de/10011110097

Corporate governance, affirmative action and firm value: evidence from post-apartheid South African firms

Ntim, collins g; Opong, kwaku k; Danbolt, jo - Volkswirtschaftliche Fakultät, … - 2010

Research Question/Issue: The post-Apartheid South African (SA) corporate governance (CG) model is a unique hybridisation of the traditional Anglo-American and Continental European-Asian CG models, distinctively requiring firms to explicitly comply with a number of affirmative action and...

Persistent link: https://www.econbiz.de/10011258442