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This paper analyzes dynamic oligopoly models where investment is the principal strategic variable of interest, there are a large number of investment choices, and there are privately observed shocks to the marginal cost of investment. We show that simulation methods to compute these models can...
Persistent link: https://www.econbiz.de/10014544678
Research suggests that investors fail to fully process changes in return on assets due to their incomplete processing of changes in asset turnover. We propose that investors do not fully process changes in return on assets—stemming from changes in asset turnover—because of their (1) fixation...
Persistent link: https://www.econbiz.de/10012965083
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 …
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This study compares incentive effects of various tax depreciation methods currently adopted in European transition economies. In these countries straight-line, geometric-degressive and accelerated depreciation measures are quite popular in combination with different corporate tax rates. Their...
Persistent link: https://www.econbiz.de/10011514138
This research aims to investigate, through simulation models, how the interaction among agents in an artificial stock market can affect the dynamics of asset prices. Thus, the study follows a different methodology for the analysis of prices by exploring the simulation of agents' behavior in an...
Persistent link: https://www.econbiz.de/10013100692
This paper evaluates if sentiment extracted from social media and options volume anticipates future asset return. Using both textual based data and a particular market data derived call-put ratio, between July 2009 and September 2012, this research shows that: 1) features derived from market...
Persistent link: https://www.econbiz.de/10012904252