We examine the influence of common ownership on commonalities in the information environment. Specifically, we study commonalities in financial statements and in the actions of key agents such as financial analysts and firm managers who contribute and respond to the information environment....

This article investigates the implementation of the "Optimal Strategic Performance Positioning (OSPP) Matrix" (Kipley et al., 2012), which evaluates the interconnectedness of four factors: "Strategic Posture," "Strategic Investment," "Future Competitive Position," and "Future Industry...

Purpose – The primary research purpose of this study is to investigate the valuation impact of firm's strategic choices in a setting of intangibles-rich industries. Design/Methodology/Approach – We adopt the conceptual framework of Miles and Snow (1978, 2003), which identifies three viable...

No one in United States financial and business history is as misunderstood, and under-appreciated, as the late Jay Gould (1836-1892). There are a number of reasons for this, primary amongst them is that Gould earned a reputation as the most hated man in America. Two early episodes, the Erie...

The paper addresses a basic model of moral hazard (risk) (Gibbons, 2010, Gibbons, 2005) and suggests some of its modifications. In the basic model of moral risk, questions are put and examined that have not been considered in the previous researches. In particular, it is proved that the level of...

In the original model constructed relations between the state and subsidized by them company, taking into account the level of subsidy, the value of the effort further by the company, as well as the possibility of an additional influence of the state on the resulting company cash flows. Assess...

In this paper, we deliver US-sample based evidence that segment reporting biases analysts' earnings per share (EPS) forecasts. We show that the error in EPS forecasts corresponds to a profitability “gap” between profitability aggregated from segment reporting and profitability computed from...

This is the first paper that profiles the financial strategy of the late Jay Gould, the legendary 19th Century financial and business titan, and applies it to modern executive management. It proposes a financial strategy framework based on Mr. Gould’s various financial and business activities,...

There are various valuation methodologies applicable to both the financial evaluation of projects as to the valuation of companies. First, have developed methods of Discounted Cash Flows (DCF), which allow discounting, or bring to present value, a series of projected future cash flows over time....

No one in United States financial and business history is as misunderstood, and under-appreciated, as Jay Gould. This article assesses Gould’s skills as a corporate executive following his distressed investment in, and subsequent managerial control of, the Union Pacific Railroad (UP). The UP...