This study provides formal theoretical evidence that, in of itself, and subsequent to the first day of trading, applications of the Gordon Growth Model to pricing of publicly traded equity incorporate informational `noise' and/or `shading of information' that, theoretically, are unbounded....

This study shows listings of new issues that occur in order of increasing, or decreasing average quality are general equilibrium listing paths, equivalently necessary conditions for maintenance of best valuations within stock markets. This finding demonstrates robustness of an existing price...

Using data for three publicly quoted firms, all of whom operate within the upstream oil industry, this study provides evidence for feasibility of incidence of contradictions (`contradictions of ranking') between a ranking of fundamental valuations, and corresponding ranking of market valuations....

With formal theoretical conditions as premise, this study develops a formal empirical structure which facilitates, simultaneously inferences in respect of each of rationality and efficiency of pricing of idiosyncratic risk. Using exactly the same data, the new empirical structure revolves around...