Accounting-based downside risk, cost of capital, and the macroeconomy
Y Konchitchki, Y Luo, MLZ Ma, F Wu - Review of Accounting Studies, 2016 - Springer
We hypothesize that earnings downside risk, capturing the expectation for future downward
operating performance, contains distinct information about firm risk and varies with cost of …
operating performance, contains distinct information about firm risk and varies with cost of …
Do Earnings Announcements Affect Employee Spending? Evidence from Transaction Data
Leveraging micro-level data on individual employees' bank and credit card transactions, we
examine the impact of earnings announcement (EA) news on employee spending. Utilizing …
examine the impact of earnings announcement (EA) news on employee spending. Utilizing …
Equity Value as a Function of (eps1, eps2, dps1, bvps, beta): Concepts and Realities. Discussion of Ohlson and Johannesson
A Nekrasov - Abacus, 2016 - papers.ssrn.com
Ohlson and Johannesson (2016) examine how valuation models and model inputs help
explain stock prices. In particular, they develop and test a new valuation model based on …
explain stock prices. In particular, they develop and test a new valuation model based on …
Tests of long-term abnormal performance: Analysis of power
In tests of long-term performance, researchers are faced with several research design
choices. For instance, when estimating abnormal returns, what specific firm characteristics …
choices. For instance, when estimating abnormal returns, what specific firm characteristics …
The role of cost of capital in regulatory capital discrepancies among developing countries
J Jacobs, G Van Vuuren - South African Journal of Economic and …, 2015 - scielo.org.za
Capital as a regulatory instrument has been shown to contribute to competitiveness
distortions between developed and developing countries. There is a dearth of literature that …
distortions between developed and developing countries. There is a dearth of literature that …
Interfirm differences in earnings variability: an analysis of fundamentals, cash flows and accruals
PA Silhan - Accounting & Finance, 2014 - Wiley Online Library
Prior research shows that the time‐series variability of corporate earnings affects forecasting
accuracy and corporate risk, yet little is known about the determinants of earnings variability …
accuracy and corporate risk, yet little is known about the determinants of earnings variability …
Applying lessons learnt from deficiencies in the basel accords to Solvency II
J Jacobs, G Van Vuuren - Journal of Economic and Financial …, 2013 - journals.co.za
Solvency II is the new European Union (EU) legislation that will review the capital adequacy
regime for the insurance industry. Considerable progress has been made in the banking …
regime for the insurance industry. Considerable progress has been made in the banking …
Do analysts understand the valuation implications of accounting conservatism when forecasting target prices?
JB Kim, A Nekrasov, P Shroff, A Simon - 2012 - ink.library.smu.edu.sg
Conservatism in earnings does not have a direct impact on the present value of future cash
flows. This paper examines whether financial analysts correctly undo the effect of accounting …
flows. This paper examines whether financial analysts correctly undo the effect of accounting …
[PDF][PDF] Earnings downside risk
Y Luo, M Ma, F Wu - Available at SSRN 2022959, 2012 - papers.ssrn.com
This study examines the effects of earnings downside risk on cost of capital and relations
between earnings and return downside risks. Earnings downside risk is found to be …
between earnings and return downside risks. Earnings downside risk is found to be …
[PDF][PDF] Conservatism in Equity Valuation
C Bach, PO Christensen - Danish National Research Foundation, Aarhus …, 2012 - Citeseer
Using a CCAPM-based risk-adjustment model consistent with general asset pricing theory,
we perform yearly valuations of a large sample of stocks listed on NYSE, AMEX and …
we perform yearly valuations of a large sample of stocks listed on NYSE, AMEX and …