A compelling reason for engaging in on-market buy-backs is that it provides a signal about the undervaluation of the company. In this paper an alternative, accounting based, method of determining fundamental value and undervaluation is used, namely the Ohlson residual income valuation framework....

In recent years, academic staff unions and associations have argued for higher salaries for academics on the grounds that existing salaries have not kept pace with inflation, are well below commercial salaries and, most glaringly, are much lower than the salaries of their overseas counterparts....

The contemporary press frequently makes mention of, and identifies significance with, specific numerical values in financial markets. This focus has been suggested to result in clustering. Furthermore, these symbolic numbers are often referred to as psychological barriers. These effects are...