We propose a methodology to incorporate risk measures based on economic fundamentals directly in the valuation model. Fundamentals-based risk adjustment in the residual income valuation model is captured by the covariance of excess ROE with market-wide factors. We simplify the covariance risk...

We propose a methodology to incorporate risk measures based on economic fundamentals directly in the valuation model. Fundamentals-based risk adjustment in the residual income valuation model is captured by the covariance of excess ROE with market-wide factors. We simplify the covariance risk...

In tests of long-term performance, researchers are faced with several research design choices. For instance, when estimating abnormal returns, what specific firm characteristics should be used as matching criteria to select control firms? What weights should be placed on each characteristic?...

The anomalous dynamic scaling behavior of the d+1 dimensional non-local growth equations is investigated based on the scaling approach. The growth equations studied include the non-local Kardar–Parisi–Zhang (NKPZ), non-local Sun-Guo-Grant (NSGG), and non-local Lai-Das Sarma-Villain (NLDV)...

This paper concentrates on the evaluation of the efficiency of low carbon industrialization in the tourism sector. Combining the general indices of the regional industrialization with the specific characteristics of low carbon development in the tourism sector, a comprehensive index system is...