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Growth options and firm valuation
Kraft, Holger; Schwartz, Eduardo S.; Weiss, Farina - 2013 - This version: February 5, 2013
(average) Tobin's Q increases with firm-level volatility. However, the significance mainly comes from R&D firms, which have … more growth options than non-R&D firms. By decomposing firm-level volatility into its systematic and unsystematic part, we … also document that only idiosyncratic volatility (ivol) has a significant effect on valuation. Second, we analyze the …
Persistent link: https://www.econbiz.de/10010226082
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Growth options and firm valuation
Kraft, Holger; Schwartz, Eduardo S.; Weiss, Farina - 2017 - This version: April 12, 2017
(average) Tobin's Q increases with firm-level volatility. The significance mainly comes from R&D firms, which have more growth … options than non-R&D firms. By decomposing firm-level volatility into its systematic and unsystematic part, we document that … only idiosyncratic volatility has a significant effect on valuation. Second, we analyze the relation of stock returns to …
Persistent link: https://www.econbiz.de/10012060951
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Growth Options and Firm Valuation
Kraft, Holger - 2013
(average) Tobin's Q increases with firm-level volatility. The significance mainly comes from R&D firms, which have more growth … options than non-R&D firms. By decomposing firm-level volatility into its systematic and unsystematic part, we document that … only idiosyncratic volatility has a significant effect on valuation. Second, we analyze the relation of stock returns to …
Persistent link: https://www.econbiz.de/10013085928
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Growth Options and Firm Valuation
Kraft, Holger - 2013
(average) Tobin's Q increases with firm-level volatility. The significance mainly comes from R&D firms, which have more growth … options than non-R&D firms. By decomposing firm-level volatility into its systematic and unsystematic part, we document that … only idiosyncratic volatility has a significant effect on valuation. Second, we analyze the relation of stock returns to …
Persistent link: https://www.econbiz.de/10012459825
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Growth options and firm valuation
Kraft, Holger; Schwartz, Eduardo S.; Weiss, Farina - In: Essays on empirical asset pricing and …, (pp. 17-49). 2017
(average) Tobin's Q increases with firm-level volatility. The significance mainly comes from R&D firms, which have more growth … options than non-R&D firms. By decomposing firm-level volatility into its systematic and unsystematic part, we document that … only idiosyncratic volatility has a significant effect on valuation. Second, we analyze the relation of stock returns to …
Persistent link: https://www.econbiz.de/10012306051
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Growth options and firm valuation
Kraft, Holger; Schwartz, Eduardo S.; Weiss, Farina - 2013
Persistent link: https://www.econbiz.de/10009727743
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The interpretative ability of coefficient R2 to calculate the firm value
Theodoraki, Chara - In: Spoudai : journal of economics and business 64 (2014) 1, pp. 29-41
Several studies have focused on the relationship between the R2 and the firm value. They have tried to explain how different values of R2 affect the firm value. In this paper we examine this relationship for the Greek companies listed on the Greek Stock Exchange, analyzing a sample of 135 listed...
Persistent link: https://www.econbiz.de/10010469148
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Sustainable Finance : ESG/CSR, Firm Value, and Investment Returns
Chang, Xin; Fu, Kangkang; Jin, Yaling; Liem, Pei Fun - 2022
We review the burgeoning sustainable finance literature, emphasizing the value implications of ESG (environmental, social, and governance) and CSR (corporate social responsibility) practices. We use a discounted cash flow valuation framework to identify value drivers through which such practices...
Persistent link: https://www.econbiz.de/10013405774
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Growth Options and Related Stock Market Anomalies : Profitability, Distress, Lotteryness, and Volatility
Bali, Turan G. - 2019
profitability, distress, lotteryness, and volatility anomalies, influencing their returns via the channel of idiosyncratic skewness …
Persistent link: https://www.econbiz.de/10012901824
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Corporate Governance, Unternehmensbewertung und Wettbewerb : eine Untersuchung für die Schweiz ; Diskussionsbeitrag für das Ottobeuren-Seminar, 13.-15. September 2004
Beiner, Stefan; Drobetz, Wolfgang; Schmid, Markus M.; … - Wirtschaftswissenschaftliches Seminar <34, 2004, Ottobeuren> - 2004
Persistent link: https://www.econbiz.de/10011570425