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This paper determines the value of asset tradeability in an option pricing framework. In our model, tradeability is valuable since it allows investors to exploit temporary mis-pricings of stocks. The model delivers several novel insights on the value of tradeability: The value of tradeability is...
Persistent link: https://www.econbiz.de/10008666521
This paper determines the value of asset tradeability in an option pricing framework. In our model, tradeability is valuable since it allows investors to exploit temporary mis-pricings of stocks. The model delivers several novel insights on the value of tradeability: The value of tradeability is...
Persistent link: https://www.econbiz.de/10009314017
In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...
Persistent link: https://www.econbiz.de/10010515460
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This study examines empirically whether corporate ratings by the credit rating agency Standard & Poor's reflect fundamental and publicly observable shocks to the credit quality of companies. This serves to assess the degree of information sensitivity of external ratings, and the timeliness of...
Persistent link: https://www.econbiz.de/10003922700
We address a number of comparative issues relating to the performance of failure prediction models for small, private firms. We use two models provided by vendors, a model developed by the National Bank of Belgium, and the Altman Z-score model to investigate model power, the extent of...
Persistent link: https://www.econbiz.de/10011610380
erleichtern können. Besondere Defizite zeigen sich bei der Bewertung von Kooperationen, ihrer Leistungsströme und ihrer Ergebnisse … Aspekte der Bewertung von Joint Ventures zum Inhalt hat. Dabei wird klar herausgearbeitet, dass die üblichen Ansätze der … Unternehmensbewertung für Kooperationen zu kurz greifen. Sie ermöglichen keine Entscheidungshilfen und müssen modifiziert werden, um im …
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