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Extended dividend, cash flow and residual income valuation models : accounting for deviations from ideal conditions
Heinrichs, Nicolas; Hess, Dieter; Homburg, Carsten; … - 2011 - This version: May 25, 2011
-State ; Valuation Error …
Persistent link: https://www.econbiz.de/10009270446
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The Pricing of Mismeasured EPS
Partridge, Clay - 2020
This study examines whether and under what conditions common stock prices reflect the accounting mismeasurement of diluted EPS related to convertible instruments. As the costs and benefits of information processing related to the accounting mismeasurement are high, it is unclear under what...
Persistent link: https://www.econbiz.de/10012848151
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Measurement Error in Dependent Variables in Accounting : Illustrations Using Google Ticker Search and Simulations
deHaan, Ed - 2019
This paper illustrates how measurement error (“ME”) in dependent variables not only reduces power but, under common …
Persistent link: https://www.econbiz.de/10012869187
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Surprising Absence of Scale for Forecast Error Magnitudes and Forecast Dispersion
Cheong, Foong Soon - 2010
While levels of actual and consensus forecast earnings per share (EPS) vary with scale (measured typically by share price), magnitudes of the difference do not vary with scale. That is, forecast errors within a certain range (e.g., plus/minus 5 cents per share) are equally likely for both...
Persistent link: https://www.econbiz.de/10013150510
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Information Production, Misconduct Effort, and the Duration of Corporate Fraud
Black, Jonathan - 2016
We develop and test a model linking the duration of financial fraud to information produced by auditors and analysts … and efforts by managers to conceal the fraud. Our empirical results suggest fraud termination is more likely in the …, indicating auditors' observable signals reduce fraud duration. Analyst attention increases the likelihood of fraud termination …
Persistent link: https://www.econbiz.de/10012989065
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Relationship Banking and SMEs: A Theoretical Analysis
Baas, Timo; Schrooten, Mechthild - 2005
Reliable information on small and medium sized enterprises (SMEs) is rare and costly for financial intermediaries. To compensate for this, relationship banking is often considered as the appropriate lending technique in the case of SMEs. In this paper we offer a theoretical model to analyze the...
Persistent link: https://www.econbiz.de/10010260833
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On the Prudence of Rewarding A While Hoping for B
Schnedler, Wendelin - 2003
In multiple-task hidden-action models, the (mis-)allocation of effort may play an important role for benefit creation. Signals which capture this benefit and which are used in incentive schemes should thus not only be judged by the noise and the associated costs but also by the mis-allocation...
Persistent link: https://www.econbiz.de/10010262723
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On the Prudence of Rewarding A While Hoping For B
Schnedler, Wendelin - 2003
In multiple-task hidden-action models, the (mis-)allocation of effort may play an important role for benefit creation. Signals which capture this benefit and which are used in incentive schemes should thus not only be judged by the noise and the associated costs but also by the mis-allocation...
Persistent link: https://www.econbiz.de/10010263061
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The Market for Liars: Reputation and Auditor Honesty
McLennan, Andrew - 2003
In the model there are two types of financial auditors with identical technology, one of which is endowed with a prior reputation for honesty. We characterize conditions under which there exists a "two-tier equilibrium" in which "reputable" auditors refuse bribes offered by clients for fear of...
Persistent link: https://www.econbiz.de/10010263371
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Transfer pricing or formula apportionment?: tax-induced distortions of multinationals' investment and production decisions
Martini, Jan Thomas; Niemann, Rainer; Simons, Dirk - 2007
For mitigating the problems of transfer pricing formula apportionment (FA) is discussed intensively. However, FA could even be more harmful than transfer pricing because income shifting would require changing economic decisions instead of just taking advantage of accounting options. We analyze...
Persistent link: https://www.econbiz.de/10010264148