Discount rate selection represents a centrally material factor impacting valuation models. Given the strong reliance on discounted cash flow modelling as a basis for determining an assets recoverable amount, the judgement exercised by reporting entities regarding rate selection is of paramount...

This paper reports on the life-time annual returns and volatility of the largest Australian five-star rated investment funds. Using this actual performance data, we model the likelihood that an investor would have viewed the actual performance as either positive or negative based upon the...

The issue of hybrid instruments by firms is often justified on the grounds that these instruments allow issuers to achieve a lower cost of capital than would be the case under issues of straight debt and equity. In order to assess the validity of such claims it is necessary to examine the...

Welcome to this edition of the Journal of Law and Financial Management ( JLFM). Now in its 11th year, JLFM continues to provide a forum for the publication of research and analysis focused on the nexus of the general disciplinary areas of law (primarily business and commercial law) and financial...

Welcome to this edition of the Journal of Law and Financial Management ( JLFM). Now in its 11th year, JLFM continues to provide a forum for the publication of research and analysis focused on the nexus of the general disciplinary areas of law (primarily business and commercial law) and financial...

In this issue, we proudly present our 10th-year edition of the Journal of Law and Financial Management. We would firstly like to thank each of the members of our editorial advisory board for their invaluable contribution, assistance and support over the decade, as well as numerous authors whose...

As we begin the second decade of this new millennium, the global economy continues to exhibit weaknesses in a number of dimensions. Bailouts, failures and restructures seem to be the norm in an environment reeling from the pressure of the global financial crisis, a continued lack of confidence...

That which at first blush seems simple often reveals deep complexity upon closer, more prolonged investigation. So it is with discount rates. As hammers and nails are to a builder, discount rates are to practitioners in the domain of accounting, finance and financial management. They are, and...