This research is concerned with the diffusion of management accounting innovations viewed as a process of actor-network building and translation. The aim is to better understand the nature of accounting change. Using Actor-Network Theory (ANT), we analyze two innovations that have had different...

Provides some theoretical developments on the topic of the performativity of economics.

Over the last few years European banks have spent billions of euros on new electronic channels. However, after some years of excitement it was clear that the banks’ long-awaited sky-rocketing profits from this area would not be netted. Estonian banks have also invested in expanding and...

We explain price and earnings momentum by investigating dynamics of cash flow (CF) news and discount rate (DR) news. We find that before the holding period, winners experience higher DR news than losers, which makes winners display lower ex-ante expected returns than losers. Momentum returns...

En este documento se analiza la evolución del IBEX y de las 75 empresas españolas que cotizaron en bolsa (en el mercado continuo) desde diciembre de 1992 hasta diciembre de 2003. Los datos de 2003 se incluyen en los Anexos del artículo.

We develop an investigation regarding the determinants of the stock prices in six Latin American emerging markets (Argentina, Brazil, Chile, Colombia, Mexico and Peru). We test the traditional Ohlson model and an international version of it. The international model includes the Dow Jones index...

We develop an investigation regarding the determinants of the stock prices listed in the Mexican Stock Exchange (BMV). We use the valuation Ohlson model and an extension of it. The Ohlson-Beta model includes the Beta elasticity as an additional explanatory variable. We use time-series and...

In this article we use a real life case from an emerging country to illustrate the valuation with discounted cash flow methods, witch include complexities such as unpaid taxes, losses carried forward, foreign exchange debt, presumptive income and inflation adjustments to the Financial...

This article presents a formal derivation of general expressions for cost of equity (Ke) and weighted average cost of capital (WACC) in perpetuities with constant growth, which do not make any assumption on what the proper discount rate is to be applied to the firm's tax shield. The formulas are...