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We study the determinants of average pay across all levels of staff seniority for UK banks between 2003 and 2012. We show that pay is affected by agency problems but not by bank operating performance. Average pay does not depend on accounting outcomes at the bank level. By contrast, average pay...
Persistent link: https://www.econbiz.de/10015257397
This paper studies the effects of P/E ratio and M/B ratio on stock return of listed firms with Karachi Stock Exchange in the Textile sector of Pakistan. A total of 30 major firms out of 162 in the textile sector listed with the Karachi Stock Exchange for the period of 2001-2006 were selected on...
Persistent link: https://www.econbiz.de/10015222381
This paper investigates whether foreign institutional investors in emerging markets can enhance shareholder value. We pay special attention to two dimensions of investor heterogeneity: whether an investor declares itself as an activist, and whether an investor comes from a country with a strong...
Persistent link: https://www.econbiz.de/10015242849
. On one side, this finding opens terrain for a capital valuation theory yet to be developed; on the other side, it …
Persistent link: https://www.econbiz.de/10015255136
in such different fields as economic theory, management accounting and corporate finance, are considered: O'Hanlon and …
Persistent link: https://www.econbiz.de/10015216472
nonstandard theory of residual income. It is derived from the notion of "unrecovered" capital, which is here named "lost" capital … the simple average residual income play a major role in valuation; a dual relation between the standard theory and the … lost-capital theory is proved, clarifying the way periodic performance is computed in the two paradigms and the rationale …
Persistent link: https://www.econbiz.de/10015218254
nonstandard theory of residual income. It is derived from the notion of "unrecovered" capital, which is here named "lost" capital … the simple average residual income play a major role in valuation; a dual relation between the standard theory and the … lost-capital theory is proved, clarifying the way periodic performance is computed in the two paradigms and the rationale …
Persistent link: https://www.econbiz.de/10015218329
soundly employed in real-life applications as a tool for rewarding managers as well as for appraising firms. Firm value is …
Persistent link: https://www.econbiz.de/10015258876
The Economic Value Added formally translates the theoretical notion of excess profit (also known as residual income). Its use is so firmly entrenched in applied corporate finance and management accounting that its name is often used as a noun for denoting the concept of excess profit itself....
Persistent link: https://www.econbiz.de/10015261767
soundly employed in real-life applications as a tool for rewarding managers as well as for appraising firms. Firm value is …
Persistent link: https://www.econbiz.de/10015261786