Pro forma analysis is often performed with the idea that a firm's cash flows are cyclic. Yet, after forecasting cash flows following a cyclic pattern, the remaining cash flows are calculated using a constant growth perpetuity calculation as a quot;terminal valuequot;. Such a calculation for the...

This chapter presents research to assess the impact of the recent financial crisis on technology-based small firms (TBSFs) in the United Kingdom based on findings from an extended telephone survey with the owner-managers of 49 young and 51 more mature TBSFs, undertaken in 2010. Even before the...

This study investigates the market's reaction to companies hiring accounting and finance officers directly from their external audit firms - the auditor to - client hiring practice referred to as the ‘‘revolving door.'' The Sarbanes-Oxley Act (SOX) eliminated this hiring practice, reflecting...