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Author: Flora Muiño Publisher: ISBN: Category : Languages : en Pages :
Book Description
Firms widely use graphs in their financial reports. In this respect, prior research demonstrates that companies use graphs to provide a favorable outlook of performance, suggesting that they try to manage the impression created in users' perceptions. This study tests whether by means of distorted graphs managers are able to influence users' decisions in the capital market. By focusing on the effects of distorted graphs on the cost of equity capital, we provide preliminary evidence on one of the possible economic consequences of graph usage. The results of this investigation suggest that graph disclosure bias has a significant, but temporary, effect on the cost of equity. Moreover, our results highlight the important role played by the overall level of disclosure as a conditioning factor in the relationship between graphs and the cost of equity. Consequently, the results of the current study enhance our understanding of the complex interactions that take place in the stock market between information, information intermediaries and investors.
Author: Flora Muiño Publisher: ISBN: Category : Languages : en Pages :
Book Description
Firms widely use graphs in their financial reports. In this respect, prior research demonstrates that companies use graphs to provide a favorable outlook of performance, suggesting that they try to manage the impression created in users' perceptions. This study tests whether by means of distorted graphs managers are able to influence users' decisions in the capital market. By focusing on the effects of distorted graphs on the cost of equity capital, we provide preliminary evidence on one of the possible economic consequences of graph usage. The results of this investigation suggest that graph disclosure bias has a significant, but temporary, effect on the cost of equity. Moreover, our results highlight the important role played by the overall level of disclosure as a conditioning factor in the relationship between graphs and the cost of equity. Consequently, the results of the current study enhance our understanding of the complex interactions that take place in the stock market between information, information intermediaries and investors.
Author: Comite, Ubaldo Publisher: IGI Global ISBN: 179988869X Category : Medical Languages : en Pages : 408
Book Description
The healthcare industry has been the center of attention recently as it continues to have a major impact on private and public organizations, government institutions, and consumers. An increasing number of requests for healthcare has led to the implementation of new policies and reform proposals that are challenging as they can have a simultaneous impact on different categories of users. As many health, individual, and organizational activities continue to grow and are conducted in the general environment, new vulnerabilities have emerged that have led to the need to study the system from a different angle. The nature, source, and complexity of healthcare is not always clear, and many times health issues are underestimated. The Handbook of Research on Healthcare Standards, Policies, and Reform examines the complex issues, various problems, and innovative solutions that are linked to healthcare standards, policies, and reform. This comprehensive reference work provides important knowledge that impacts healthcare improvement from the perspective of multiple disciplines, adding innovation value to solving health issues. Covering topics such as health protection, psychological health, and healthcare technology, it is an essential resource for academicians, healthcare practitioners, researchers, healthcare scientists, professional bodies, professors and students of higher education, and policymakers.
Author: Nicholas Jewczyn, Ph.D. Publisher: AuthorHouse ISBN: 1491845430 Category : Business & Economics Languages : en Pages : 268
Book Description
This book is my doctoral dissertation. It has been published here because many people have the desire to read an old-fashioned book and enjoy turning the pages to digest the information at a comfortable rate. The original idea for this study, as many of my graduate students already know, came from a lecture by a previous graduate school professor of mine. His parable concerned a famous baseball coach who was really hungry after a baseball game and decided, because he was more hungry than usual, to slice the post-game pizza into eight slices instead of just four. If you understand why that is funny, then you have a good head start on the road to understanding the concept of true valuation. In the Field of Economics, concerning the long-term, price is the ultimate arbiter. When we couple price with non-traditional, relative valuation, whether it's pizza, a corporate entity for purchase for billions of dollars, or just the price of one share of stock, we get a better understanding of what something is actually worth. Therefore, we understand very quickly whether or not we are getting a "good deal" for the price paid. If you are not a rocket-scientist, but want a step-by-step and thorough understanding of what things are really worth - this book is for you.
Author: Joseph Falzon Publisher: Springer ISBN: 1137332093 Category : Business & Economics Languages : en Pages : 367
Book Description
The latest scholarly developments in research on banking, financial markets, and the recent financial crisis. This selection of papers were presented at the Wolpertinger Conference held in Valletta, Malta, 2012 and provide insights into bank performance, banking risk, securitisation, bank stability, sovereign debt and derivatives.
Author: Irwan Trinugroho Publisher: CRC Press ISBN: 0429781830 Category : Business & Economics Languages : en Pages : 700
Book Description
Business Innovation driven by the advancement of technology has dramatically changed the business landscape over recent years, not only in advanced countries but also in emerging markets. It is expected that business innovation could help achieve economic inclusion, which has been a global initiative over the last decade, creating opportunities for all people to benefit from the economic development. These proceedings provide an outlet for discussing the importance of business innovation, especially in emerging countries in helping to reach inclusive economies. The papers cover the subject areas management, accounting, finance, economics and social sciences.
Author: Jonathan A. Batten Publisher: Springer ISBN: 1137025093 Category : Business & Economics Languages : en Pages : 434
Book Description
The latest research on measuring, managing and pricing financial risk. Three broad perspectives are considered: financial risk in non-financial corporations; in financial intermediaries such as banks; and finally within the context of a portfolio of securities of different credit quality and marketability.
Author: Mehmet Huseyin Bilgin Publisher: Springer ISBN: 3319225960 Category : Business & Economics Languages : en Pages : 520
Book Description
This book is the first of the two volumes featuring selected articles from the 14th Eurasia Business and Economics conference held in Barcelona, Spain, in October 2014. Peer-reviewed articles in this first volume present latest research breakthroughs in the areas of Accounting, Corporate Governance, Finance and Banking, Institutional and International Economics, and Regional Studies. The contributors are both distinguished and young scholars from different parts of the World.
Author: Mohamed Ali Boujelbene Publisher: ISBN: Category : Languages : en Pages : 9
Book Description
The purpose of this paper is to examine empirically the impact of intellectual capital disclosure (IC) on cost of Equity capital. The empirical research is based on companies listed in the French SBF 120 stock market index. The findings confirm our hypotheses that stipulate the existence of a significant and negative association between intellectual capital disclosure with its two components (human capital, structural) and the cost of equity. However, the negative impact of the relational capital disclosure is not validated. The results in this paper are of considerable importance to both policy makers and firms. In fact, the understanding of the impact of Intellectual capital disclosure on cost of equity capital helps policy makers in the evaluation of the costs and benefits of disclosure. Moreover, with regard to managers of firms, the results show the benefit of enhanced IC disclosure regarding the reduction in their cost of capital. This study is one of the very first to provide empirical evidence of the association between Cost of equity capital and the level of disclosure in the three individual intellectual capital categories (human; structural and relational capital).
Author: Dan S. Dhaliwal Publisher: ISBN: Category : Languages : en Pages : 55
Book Description
We examine the effect of Regulation Fair Disclosure (Reg FD) on the cost of equity capital. We find some evidence that (1) the cost of capital declines in the post-Reg FD period relative to the pre-Reg FD period, on average, for a broad cross-section of U.S. firms, (2) the decrease in the cost of capital post Reg FD is mainly for medium and large firms but is insignificant for small firms, and (3) the decrease in the cost of capital post Reg FD is systematically related to firm characteristics indicative of selective disclosure before Reg FD. In contrast, we find little evidence of a decrease in the cost of capital for American Depositary Receipts and U.S.-listed foreign firms, which are legally exempt from Reg FD. Overall, our findings do not support a conclusion in recent studies that the cost of capital has increased post Reg FD and, if anything, suggest the opposite.
Author: Flora Muiño
Author: Flora Muiño
Author: 
Author: Comite, Ubaldo
Author: Nicholas Jewczyn, Ph.D.
Author: Joseph Falzon
Author: Irwan Trinugroho
Author: Jonathan A. Batten
Author: Mehmet Huseyin Bilgin
Author: Mohamed Ali Boujelbene
Author: Dan S. Dhaliwal