This book contains a solid framework for valuation: analyzing historical performance, including reorganizing a company's financial statements to reflect economic rather than accounting performance; forecasting performance, with emphasis on not just the mechanics of forecasting but also how to...

In this paper, we show that Tobin's q and firm diversification are negatively related. This negative relation holds for different diversification measures and when we control for other known determinants of q. We show further that diversified firms have lower q's than equivalent portfolios of...

For the last two decades, non-US firms have lower valuations than similar US firms. We study the evolution of this valuation gap to assess whether financial markets are less integrated after the 2008 global financial crisis (GFC). The valuation gap for firms from developed markets increases by...