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Intangible Assets, IFRS, and Analysts’ Earnings Forecasts

Chalmers, Keryn - 2011

We investigate whether the adoption of IFRS in 2005 by Australian firms has been associated with a loss of potentially useful information about intangible assets, as conjectured by Matolcsy and Wyatt (2006). We find that the negative association between analyst forecast error...

Persistent link: https://www.econbiz.de/10013132307

Company Valuation in an Emerging Economy - Caldonia : A Case Study

Velez-Pareja, Ignacio - 2011

In this article we use a real life case from an emerging country to illustrate the valuation with discounted cash flow methods that include complexities such as unpaid taxes, losses carried forward, foreign exchange debt, presumptive income and inflation adjustments to the Financial Statements....

Persistent link: https://www.econbiz.de/10013132604

Is the Decline in the Value Relevance of Accounting Driven by Increased Conservatism?

Balachandran, Sudhakar V. - 2011

:237–264, (2002) and Beaver and Ryan, Journal of Accounting Research 38:127–148, (2000) and value relevance using (1) adjusted R2 from …

Persistent link: https://www.econbiz.de/10013132984

Cost of Capital and Value Without Circularity for Constant Growth Perpetuities

Mejia-Pelaez, Felipe - 2011

This paper presents the derivation of non-circular formulas for the calculation of the cost of equity, WACC, equity value (as a function either of initial debt or leverage), and levered firm value, using some previous results and showing their consistency with other well-known expressions....

Persistent link: https://www.econbiz.de/10013133106

Cost of Equity and WACC for Perpetuities with Constant Growth

Mejia-Pelaez, Felipe - 2011

This paper presents a formal derivation of general expressions for Ke and WACC in perpetuities with constant growth, which do not make any assumption on what the proper discount rate is to be applied to the firm's tax shield, and are complemented with numerical examples of its application....

Persistent link: https://www.econbiz.de/10013133176

Analytical Solution to the Circularity Problem When Using Discounted Cash Flow Valuation (Solución Analítica al Problema de la Circularidad Usando Flujos de Caja Descontados) (Span...

Mejia-Pelaez, Felipe - 2011

In this paper we propose an analytical solution to the circularity problem between value and cost of capital. Our solution is derived starting from a central principle of finance that relates value today to value, cash flow, and the discount rate for next period. We derive a general formulation...

Persistent link: https://www.econbiz.de/10013133179

Determinants of Purchase Price Allocation Decisions - Accounting for Goodwill In IFRS and US-GAAP Business Combinations

Ott, Christian - 2011

The first convergence project of IASB and FASB created the widely equivalent international and U.S. accounting standards for business combinations IFRS 3 and SFAS 141. The purchase price must be allocated to identifiable assets acquired and liabilities assumed with the residual amount recognized...

Persistent link: https://www.econbiz.de/10013133236

The Buyback Monitor – July 2010 : Corporate Stock Buyback Profits of 275 Firms 2000-2010

Gumport, M. A. - 2011

This report updates and expands earlier studies to look at the profitability of $349.7 billion of buybacks executed from 2000 through early 2010 by a sample of 275 corporations. The sample companies, drawn mainly from the technology sector, enjoy total equity market value today of $945.6...

Persistent link: https://www.econbiz.de/10013133330

Orphans Deserve Attention : Financial Reporting in the Missing Months When Corporations Change Fiscal Year

Du, Kai - 2011

We examine firms' financial reporting practices during stub periods that are induced by fiscal year changes and not covered by regular quarters. We find that firms report much lower income for the missing months than for adjacent quarters, mainly by recording higher operating expenses. We also...

Persistent link: https://www.econbiz.de/10013133481

Individual Accounting Faculty Research Rankings by Topical Area and Methodology

Pickerd, Jeffrey S. - 2011

This paper ranks individual accounting researchers based on their research productivity in the most recent 6, 12, and … 20 years. We extend prior individual faculty rankings by providing separate individual faculty research rankings for each … individual faculty research rankings for each research methodology commonly used by accounting researchers (analytical, archival …

Persistent link: https://www.econbiz.de/10013133555