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Journal articles on the topic 'Market value of equity'

Author: Grafiati

Published: 4 June 2025

Last updated: 14 July 2025

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1

Savitri, Enni, Tatang Ary Gumanti, Almasdi Syahza, and Nik Herda Nik Abdullah. "The market value of equity of manufacturing companies during the COVID-19 pandemic." Investment Management and Financial Innovations 18, no. 4 (2021): 1–11. http://dx.doi.org/10.21511/imfi.18(4).2021.01.

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The market value of a public company reflects the expectations of investors. It is influenced by many factors, both internal and external to the company. This study aims to analyze whether intellectual capital moderates the effect of the debt-to-equity ratio and earnings per share on the market value of equity. A set of historical data was collected and analyzed based on a sample of 114 manufacturing companies listed on the Indonesia Stock Exchange from 2017 to 2019. This study uses moderated regression analysis to test proposed hypotheses and a robustness test to examine the sensitivity and c

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Bhatt, Dr Pushpa, and Sumangala J. K. Sumangala J. K. "Impact of Book Value on Market Value of an Equity Share – An Empirical Study in Indian Capital Market." Indian Journal of Applied Research 3, no. 2 (2011): 49–51. http://dx.doi.org/10.15373/2249555x/feb2013/17.

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Longstaff, Francis A., and Brett W. Myers. "How Does the Market Value Toxic Assets?" Journal of Financial and Quantitative Analysis 49, no. 2 (2014): 297–319. http://dx.doi.org/10.1017/s0022109014000222.

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AbstractHow does the market value “toxic” structured-credit securities? We study the valuation of what is possibly the most toxic of all toxic assets: the equity tranche of a collateralized debt obligation (CDO). In theory, CDO equity should be similar in nature to bank stock since both represent residual claims on a portfolio of loans. We find CDO equity returns are much more related to stock returns than to fixed-income returns. CDO equity returns track the returns of financial stocks much more closely than any other industry. Nearly two-thirds of the variation in CDO returns can be explaine

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Camara, Omar. "Information Content of Earnings Opacity on Firm Value." International Journal of Accounting and Financial Reporting 8, no. 1 (2018): 410. http://dx.doi.org/10.5296/ijafr.v8i1.12906.

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This study use a panel data set of balance sheet and income statement of US firms within manufacturing and services industries for the period 1987-2015 to examine the impact of two dimensions of earnings opacity on firm value – earnings aggressiveness (i.e. measured by accounting accruals) and earnings smoothing (i.e. measured by the correlation between accruals and operating cash flows). Specifically, the paper investigate if earnings opacity affects equity markets and if there is a differential effect of earnings opacity on equity markets across manufacturing and services industries. Informa

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Sumaryanto, Sumaryanto, Erni Widajanti, and Nani Irma Susanti. "The Impact of Social Media Marketing Activities on Value Equity, Brand Equity, and Relationship Equity in Ngarsopura Market of Surakarta." West Science Interdisciplinary Studies 2, no. 01 (2024): 83–100. http://dx.doi.org/10.58812/wsis.v2i01.537.

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Even in Surakarta, traditional marketplaces continue to play an essential role in the commercial activities that take place in Indonesia. Because of the proliferation of digital technology, the utilization of social media in marketing endeavors has become increasingly important. On the other hand, there is currently a dearth of research about the influence that social media marketing operations have on value equity, brand equity, and customer relationship equity in traditional markets. In the Ngarsopuro Market in Surakarta, the purpose of this study is to provide an explanation of the potentia

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Tekin, Bilgehan. "The Factors Affecting the Market Value/Book Value and Profitability of REITs in Turkey." International Real Estate Review 24, no. 3 (2021): 469–99. http://dx.doi.org/10.53383/100328.

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Increasing income level and the desire to live a more comfortable life in countries with an increasing population are constantly driving the demand for real estate. Real estate investment trusts (REITs) are capital market institutions that can invest in real estate, real estate-based capital market instruments, real estate projects, real estate-based rights and capital market instruments. In addition, they establish partnerships to realize specific projects, engage in other permitted activities, and are organized by the Capital Market Law in Turkey. In this study, the fixed effects panel data

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SATWIKO, RUTJI, and VLADIMIR AGUSTO. "ECONOMIC VALUE ADDED, MARKET VALUE ADDED, DAN KINERJA KEUANGAN TERHADAP RETURN SAHAM." Media Bisnis 13, no. 1 (2021): 77–88. http://dx.doi.org/10.34208/mb.v13i1.956.

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The research objective is to determine the variables that affect stock returns. The independent variables used in this study are economic value added, market value added, debt to equity ratio, price to book value, total assets turnover, return on equity, net profit margin, and earnings per share. The dependent variable in this study is stock returns. The population in this study were non-financial companies listed on the Indonesia Stock Exchange for 5 consecutive years, from 2013 to 2017. The sample selection method used was purposive sampling. The research sample is 52 non-financial companies

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Maung, Min, and Reza H. Chowdhury. "Is there a right time for corporate investment?" Studies in Economics and Finance 31, no. 2 (2014): 223–43. http://dx.doi.org/10.1108/sef-08-2013-0112.

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Purpose – The purpose of this paper is to determine whether corporate investment in real fixed assets in hot issue markets leads to higher income to shareholders than that in other equity market conditions. Design/methodology/approach – The authors address the research question in two steps: first, the authors identify how security issuances in hot and cold issue markets influence corporate investment decisions. Second, the authors examine how debt- and equity-financed investments in two different market conditions affect future holding period returns. The sample includes an unbalanced panel d

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Pandey, Asheesh, Sanjay Sehgal, Amiya Kumar Mohapatra, and Pradeepta Kumar Samanta. "Equity market anomalies in major European economies." Investment Management and Financial Innovations 18, no. 2 (2021): 245–60. http://dx.doi.org/10.21511/imfi.18(2).2021.20.

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This paper investigates five leading equity market anomalies – size, value, momentum, profitability, and asset growth, for four Western European markets, namely, Germany, France, Italy and Spain, from January 2002 to March 2018. The study tests whether these anomalies reverse under different macro-economic uncertainty conditions, and evaluates if strategies based on time diversification can be formed using these equity market anomalies. Market anomalies were tested using four major asset pricing models – the Capital Asset Pricing Model, the Fama-French three-factor model, the Carhart model, an

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Aremu Akinde, Mukail, Eriki Peter, and Ochei Ailemen Ikpefan. "Portfolio selection strategies and cognitive psychology biases: a behavioral evidence from the Nigerian equity market." Investment Management and Financial Innovations 15, no. 3 (2018): 267–82. http://dx.doi.org/10.21511/imfi.15(3).2018.22.

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The empirical evidence in the developed equity markets such as the United States, the United Kingdom, Germany, Japan and emerging markets had pronounced that there are institutional and individual investors’ cognitive psychology and mental biases in favor of the Growth Stocks, that is, the Growth Stocks are always preferred to the Value Stocks by the investors. The investors most times prefer the Growth Stocks to the Value Stocks irrespective of the stock fundamentals behavior in the equity market. The paper investigated whether Cognitive Psychology and Mental biases affect Portfolio Selection

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Graaf, Johan. "Equity market interactions." Accounting, Auditing & Accountability Journal 31, no. 4 (2018): 1230–56. http://dx.doi.org/10.1108/aaaj-05-2016-2565.

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Purpose The purpose of this paper is to contribute to the sociology of financial analysis by exploring how sell-side analysts enact their professional roles during public earnings presentations. It addresses the following research question: How do analysts perform their professional roles in interactions with managers, fund managers and other analysts? Design/methodology/approach The research adopts a dramaturgical analysis of analysts’ interactions with managers and fund managers. The empirical material includes 50 hours of direct observations of earnings presentations and 21 interviews with

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Young Chung, Chune, Kangjin Ju, and Doojin Ryu. "Stock split, unseasoned equity offering, and firm value: evidence from the Korean stock market." Investment Management and Financial Innovations 13, no. 3 (2016): 105–9. http://dx.doi.org/10.21511/imfi.13(3).2016.09.

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This study examines the extent to which announcements of stock splits and unseasoned equity offerings (capital increase without consideration) affect firm values in the Korean stock market. The authors find that, based on analyses of the cumulative abnormal return (CAR) around the announcement dates, CARs are significantly positive for both corporate events. This result suggests that both events are positive in relation to the firm’s value. The authors also examine whether the performance of firms that execute stock splits and/or unseasoned equity offerings differs from that of firms that do n

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Kaczmarek, Jarosław. "Effectiveness of Company Value Creation Based on Excess Market Value-Added Assessment." Sustainability 16, no. 9 (2024): 3711. http://dx.doi.org/10.3390/su16093711.

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This article aims to assess the usefulness of excess market value added to equity as an external measure of company value creation from the perspective of meeting shareholder expectations. This measure compares the expected value as an increase in stock exchange capitalisation in relation to return on equity, equivalent to its cost, decreased by this capital, in relation to the actually achieved level of capitalisation. This paper investigates relations with other external and internal measures. This research is based on measuring value creation in WIG30 Warsaw Stock Exchange companies in 2017

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Milanda, Senja, Edyanus Halim, and Enni Savitri. "The Effect of Debt to Equity Ratio, Earning Per Share and Company Size on Market Value of Equity With Intellectual Capital As Moderating Variable." Indonesian Journal of Economics, Social, and Humanities 4, no. 1 (2022): 41–54. http://dx.doi.org/10.31258/ijesh.4.1.41-54.

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The purpose of this study was to examine the effect of debt-to-equity ratio, earnings per share, and company size on market value of equity. In this study, intellectual capital was used as a moderating variable. The samples in this study are companies listed in manufacturing companies in 2017-2019 periods on the IDX. Data was processed using the method of moderated regression analysis (Rev Mou1). The results of this study found that debt to debt-to-equity ratio and company size affect the market value of equity meanwhile earning per share can’t affect the market value of equity. Intellectual c

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Quy Duong, Le. "The value premium in the Vietnamese equity market." Journal of Eastern European and Central Asian Research (JEECAR) 11, no. 1 (2024): 42–52. http://dx.doi.org/10.15549/jeecar.v11i1.1549.

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In recent decades, the Efficient Market Hypothesis has been the subject of debate among professionals and academics. In this hypothesis, the value premium is a key aspect that challenges market efficiency. The main objective of this study is to comprehensively investigate the value versus growth anomaly in the Vietnamese market between 2013 and 2023. Based on the empirical data, value portfolios have yielded a greater average return than growth portfolios in the Vietnamese stock market during this period. Although their levels of market risk (measured by beta) are nearly the same, the added-ri

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Kunz, Roger M. "Simplification of equity capital structure and market value." Financial Markets and Portfolio Management 16, no. 1 (2002): 30–52. http://dx.doi.org/10.1007/s11408-002-0103-0.

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Hand, John R. M. "The Value Relevance of Financial Statements in the Venture Capital Market." Accounting Review 80, no. 2 (2005): 613–48. http://dx.doi.org/10.2308/accr.2005.80.2.613.

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This study examines the value relevance of financial statement data and nonfinancial statement information within and across the pre-IPO venture capital and post-IPO public equity markets. For a sample of U.S. biotechnology firms, I find that financial statements are highly value-relevant in the venture capital market, and that the signs of the associations between equity values and financial statement data in that market are similar to those in the public equity market, despite significant structural differences between the two. I also find that the value relevance of financial statements gen

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Nurjannah, Darwanis, and Saputra Mulia. "The INFLUENCE OF PROFITABILITY, CASH FLOW, AND STOCK RETURNS ON EQUITY MARKET VALUES BASED ON COMPANY LIFE CYCLE (Study of Manufacturing Companies Listed in Indonesian stock exchange)." Journal of Research in Business, Economics and Management 12, no. 2 (2019): 2314–21. https://doi.org/10.5281/zenodo.3952003.

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The purpose of this study is to examine the effect of profitability, cash flow, and stock returns on equity market values based on company life cycle of manufacturing companies listed in Indonesian Stock Exchange over the period of 2012-2014. The data used in this study were obtained from audited financial reports which published by the capital market reference center on the Indonesian Stock Exchange. The type of this research is the hypothesis testing which is applied the purposive sampling method and there are 204 samples of the company as the research object. The results of the study indica

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Saka, Chika, and Tomoki Oshika. "Disclosure effects, carbon emissions and corporate value." Sustainability Accounting, Management and Policy Journal 5, no. 1 (2014): 22–45. http://dx.doi.org/10.1108/sampj-09-2012-0030.

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Purpose – The main purpose of this study is to examine the impact of corporate carbon emissions and disclosure on corporate value, especially regarding whether disclosure helps to reduce uncertainty in valuation as predicted by carbon emissions using a unique data set on Japanese companies. Design/methodology/approach – Empirical analysis of the relations between corporate carbon emissions using compulsory filing data to Japanese Government covering more than 1,000 firms, corporate carbon management disclosure (CDP disclosure), and the market value of equity. Findings – The authors find that c

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Scislaw, Kenneth E., and David G. McMillan. "Portfolio constituency rules and the value premium in the small-cap space." Managerial Finance 41, no. 5 (2015): 418–36. http://dx.doi.org/10.1108/mf-02-2014-0035.

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Purpose – Market-based value style equity portfolios do not systematically outperform market-based growth style equity portfolios, despite considerable academic research that suggests that they should. This is an unresolved puzzle in the long lineage of work on this topic. The purpose of this paper is to question whether portfolio constituency rules employed by active growth and value equity investment managers might explain this puzzle. Design/methodology/approach – The authors use the traditional research design and methodology of Fama and French (1993) to ensure comparability of results to

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Viardot, Eric. "Branding in B2B: the value of consumer goods brands in industrial markets." Journal of Business & Industrial Marketing 32, no. 3 (2017): 337–46. http://dx.doi.org/10.1108/jbim-11-2014-0225.

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Purpose This paper aims to explore whether consumer goods brands (CGBs) have more brand equity than exclusively professional brands (EPBs) do in the context of the industrial detergents market. Design/methodology/approach The author conducted direct customer interviews at the outlets of two large wholesale distribution retail chains. The sample included 211 respondents. Findings The study shows that CGBs do have brand equity in business-to-business (B2B) market. First, they enjoy a greater top-of-mind awareness than do EPBs. Second, they have a distinctive brand image, as they are perceived as

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Kumar, Satish, Riza Demirer, and Aviral Kumar Tiwari. "Oil and risk premia in equity markets." Studies in Economics and Finance 37, no. 4 (2020): 697–723. http://dx.doi.org/10.1108/sef-03-2020-0059.

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Purpose This study aims to explore the oil–stock market nexus from a novel angle by examining the predictive role of oil prices over the excess returns associated with the market, size, book-to-market and momentum factors via bivariate cross-quantilograms. Design/methodology/approach This study makes use of the bivariate cross-quantilogram methodology recently developed by Han et al. (2016) to analyze the predictability patterns across the oil and stock markets by focusing on various quantiles that formally distinguish between normal, bull and bear as well as extreme market states. Findings Th

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Pfeiffer, Glenn M., and Timothy W. Shields. "Performance-Based Compensation and Firm Value—Experimental Evidence." Accounting Horizons 29, no. 4 (2015): 777–98. http://dx.doi.org/10.2308/acch-51143.

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SYNOPSISWe study equity price reactions to compensation contracting in experimental markets. Motivated by research reporting positive price reactions to adoption of performance-based compensation plans for executive managers, but postulating competing reasons as to why, we design an experiment that allows us to manipulate variables separately to examine the effect of adverse selection and moral hazard on equity prices. We find that managers select contracts based on their private information, sometimes differing from predicted choices, and that private information is conveyed to the market by

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Ms., Pallavi Pahuja, and Sandeep Passi Mr. "EVALUATION OF ECONOMIC VALUE ADDED AS A PERFORMANCE MEASUREMENT TOOL - A STUDY." International Journal of Marketing & Financial Management 3, no. 5 (2015): 29–40. https://doi.org/10.5281/zenodo.10807921.

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ABSTRACT In traditional method of computing the final results, compensation to labour and management is charged to profit and loss account. Cost of debt is also charged to the profit and loss account. Only the cost of equity capital is ignored. But in reality equity capital is scarce and has an opportunity cost, just as any factor of production. Yet traditional measures like ROI i.e. Return on investment, EPS i.e. Earning per share and Net Income does not account for the cost of equity capital. Economic Value Added is computed by taking into account the cost of equity. Economic Value Added is

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Hatem, Ben Said. "How Can We Increase Shareholder' Wealth? An Empirical Validation from European Countries." Business and Economic Research 7, no. 1 (2017): 323. http://dx.doi.org/10.5296/ber.v7i1.9738.

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This paper tests the determinants of shareholder's wealth. Our study examined three countries: Russia, Sweden and the United Kingdom. The samples contains 69 firms for every country observed over a period of 4 years from 2007 to 2010. Firm value is measured by two ratios: Tobin's Q ratio obtained as the sum of market capitalisation, long term debt and short term capital structure divided by total assets, and market to book ratio measured as market value equity over shareholder's equity. The descriptive statistics manipulate that firms in Sweden and the United Kingdom have higher Tobin's Q and

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Kinateder, Harald. "What drives tail risk in aggregate European equity markets?" Journal of Risk Finance 16, no. 4 (2015): 395–406. http://dx.doi.org/10.1108/jrf-02-2015-0019.

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Purpose – The paper aims to analyse the drivers of changes in European equity tail risk. Design/methodology/approach – For this purpose, the paper uses a panel data model with fixed effects based on five explanatory variables including the VIX, the variance risk premium (VRP), the one-year lagged slope of the riskless term-structure, the default spread and market-specific illiquidity via the measure of Bao et al. (2011). The study analyses a comprehensive database of representative European equity indices from February 2003 to December 2013. The database just contains markets of euro member st

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Balqis, Sitti Bahira, Harry Budiantoro, and Dinda Oktavia. "Enhancing the Appeal: Impact of Economic Value, Market Value, Return Equity, and Total Assets Turnover on Stock Prices." Research of Finance and Banking 2, no. 1 (2024): 25–38. http://dx.doi.org/10.58777/rfb.v2i1.213.

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This research aims to determine the influence of economic value added, market value added, return on equity, and total asset turnover on stock prices. The population in this study was companies that were included in the LQ45 index, and the companies selected as research samples were 22 companies. The sampling technique uses a purposive sampling technique. Data were analyzed using descriptive statistical analysis, classical assumption tests, multiple linear regression analysis, and hypothesis testing using the t-test and determination test. The research results show that partial economic value

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Bhatta, B. "Impact of Corporate Financing Decisions on Firm Value of Listed Hydropower Companies In Nepal." Apex Journal of Business and Management (AJBM) 4, no. 1 (2025): 77–88. https://doi.org/10.5281/zenodo.14992832.

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This study investigates the impact of corporate financing decisions on the market value of listed hydropower companies in Nepal. Specifically, it examines how financial metrics influence firm value, as measured by market capitalization. The analysis is based on 21 listed hydropower companies in Nepal from 2017 to 2023, comprising 147 observations. The study employs descriptive statistics, correlation analysis, and multiple regression analysis to assess the relationship between the dependent variable (firm value) and five independent variables: earnings per share, net worth per share, return on

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Nuhiu, Artor, Florin Aliu, Fisnik Aliu, and Arbër Hoti. "Measuring Market Efficiency Through Valuation Techniques: The Case of Visegrad Countries Stock Markets." Studies in Business and Economics 18, no. 1 (2023): 198–217. http://dx.doi.org/10.2478/sbe-2023-0011.

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Abstract Company valuation stands as the most controversial topic in the field of financial management. The study investigates the extent to which stock prices of the companies listed on Czech, Polish, Hungarian, and Slovak equity markets deviate from their estimated intrinsic value. DCF model was employed using Monte Carlo simulations with 500, 1000, and 10000 trials to generate estimated intrinsic value and compare them to market prices. The results of the study show that the Bratislava Stock Exchange (SAX) on average holds the lowest gap between intrinsic value per share and market prices w

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Mikrad, Mikrad, and Januar Eky Pambudi. "PENGARUH DEBT TO EQUITY RATIO, ECONOMIC VALUE ADDED DAN MARKET TO BOOK VALUE TERHADAP RETURN SAHAM." Dynamic Management Journal 5, no. 1 (2021): 65. http://dx.doi.org/10.31000/dmj.v5i1.4123.

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Tujuan dari penelitian ini adalah untuk menganalisis pengaruh Debt to Equity Ratio , Economic Value Added dan Market to Book Value terhadap Return saham. Objek penelitian ini adalah perusahaan manufaktur sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia Periode 2015-2019. Populasi dalam penelitian ini adalah perusahaan sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia untuk jangka waktu lima tahun dari tahun 2015 sampai 2019 dengan sampel berjumlah 8 perusahaan. Hasil penelitian menunjukkan bahwa secara parsial variabel independen yaitu : variabel Debt

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Zuo, Jiawen. "Valuation and Analysis of Equity Value of Tesla." Advances in Economics, Management and Political Sciences 19, no. 1 (2023): 150–56. http://dx.doi.org/10.54254/2754-1169/19/20230131.

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Tesla has conquered the electric vehicle market in its two-decade history. Key market indicators like stock price, sales units, and customer alignments signify a company on an upward trajectory. Its stocks soared in 2021, and Tesla became a trillion-dollar entity. The research topic will analyze Tesla's financial the electric vehicle market to forge a basis for future projections. By many measures, Tesla is in an excellent financial position. EVs demand is at historical highs, and future predictions are superb; its EV technologies, like batteries and charging stations, are optimal. It has dive

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Rahman, Md Saifur, and Shahari Farihana. "Does the US influence ASEAN+3 equity market integration?" Journal of Financial Economic Policy 13, no. 4 (2021): 502–24. http://dx.doi.org/10.1108/jfep-06-2020-0133.

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Purpose This paper aims to examine whether the US influences the ASEAN + 3 financial market integration. Design/methodology/approach A two-stage cointegration test is used in the estimation by using equity indices from selected member economies and the USA. Findings The finding of this study shows that the equity markets of ASEAN + 3 are integrated especially after the Asian crisis period reflecting the regional cooperation. There is a strong market nexus between ASEAN + 3 and the USA, but the ASEAN + 3 financial cooperation agreement does not depend on the US financial market. Originality/val

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Amri-Asrami, Mohammad, and Mohammad-Ali Aghaei. "Modeling the Impact of Accounting Conservatism on Information Behaviour in Equity Valuation Based on PLS-SEM." International Journal of Economics, Management and Accounting 31, no. 2 (2023): 275–98. http://dx.doi.org/10.31436/ijema.v31i2.1056.

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Based on residual income valuation models, this study used PLS-SEM with a formative approach to investigate the moderating effects of conservative policies on the relation between accounting information of the current and lagged periods with the equity value of companies listed on the Tehran Stock Exchange. The sample consisted of 149 companies from 2012 to 2019. The moderating effect of conditional / unconditional accounting conservatism on the relation between current/lagged accounting information and equity value is insignificant at the 10% level. In contrast, conditional conservatism has a

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Aisyana, Marsya, and Yen Sun. "Analisis Pengaruh Likuiditas, Solvabilitas, dan Profitabilitas terhadap Market Value Added (MVA)." Binus Business Review 3, no. 1 (2012): 199. http://dx.doi.org/10.21512/bbr.v3i1.1294.

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This study aims for analyzing the influence of liquidity, solvability and profitability to market value added. There are 22 companies of LQ 45 used as samples during the period of 2007-2009. Sampling technique used in this study is purposive sampling. Furthermore, the statistical test used in the data analysis and hypothesis testing is multiple linear regressions. The independent variable consists of 6 variables; acid-test ratio, debt ratio, debt to equity ratio, times interest earned (TIE), return on asset (ROA) dan return on equity (ROE). While the dependent variable used is market value add

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Noor, Md Hasib, and Anupam Dutta. "On the relationship between oil and equity markets: evidence from South Asia." International Journal of Managerial Finance 13, no. 3 (2017): 287–303. http://dx.doi.org/10.1108/ijmf-04-2016-0064.

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Purpose The purpose of this paper is to investigate the volatility linkage between global oil market and major South Asian equity markets. Design/methodology/approach In order to serve the purpose, the authors employ a recently developed vector autoregressive-generalized autoregressive conditional heteroskedastic model to examine whether shocks and volatility spill over from the oil market to various equity markets under consideration. Findings The findings of the empirical analysis suggest that all the markets studied do receive volatility from the oil market. Not surprisingly, the authors do

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Pasaribu, Rosita, Bayu Wulandari, Nikmat Kasih Telaumbanua, Magdalena Silalahi, Tionar Regina Simarmata, and Mhd Zulkifli Hasibuan. "The Impact of Corporate Social Responsibility, Market Equity Value, Information Asymmetry, Market Beta, and Earnings Management on Equity Capital Costs in Property and Real Estate Companies Listed on the Indonesian Stock Exchange in 2019-2021." Journal of Research in Business, Economics, and Education 5, no. 2 (2023): 31–41. http://dx.doi.org/10.55683/jrbee.v5i2.430.

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This study aims to analyze the Influence of Corporate Social Responsibility, Equity Market Value, Information Asymmetry, Market Beta, and Earnings Management on the Cost of Equity Capital in Property and Real Estate Companies listed on the Indonesia Stock Exchange from 2019 to 2021. The type of data used in this study is secondary data sourced from the financial reports of Property and Real Estate Companies from 2019-2021. The sample selection method used in this study is purposive sampling and the data processing method used is the multiple linear regression method, T-Test and F-Test through

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Beukes, Anna. "Value Investing: International Comparison." International Business & Economics Research Journal (IBER) 10, no. 5 (2011): 1. http://dx.doi.org/10.19030/iber.v10i5.4226.

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Based on accumulated empirical evidence, the academic community has generally come to agree that value investment strategies, on average, outperform growth investment strategies (Chan and Lakonishok, 2004:71). An influential article by Fama and French (1992) tested the notion that United States stock prices might be related to the ratio of a firms book value of common equity (BV) to its market value of common equity (MV). It found that companies with high book value relative to market value of equity (BV/MV) outperform the market. This finding led to extensive testing for the value premium in

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Mao, Weifang, Huiming Zhu, Hao Wu, Zhongqingyang Zhang, and Jin Chen. "The Influence of Equity Market Sentiment on Credit Default Swap Markets: Evidence from Wavelet Quantile Regression." Complexity 2023 (August 16, 2023): 1–21. http://dx.doi.org/10.1155/2023/3475079.

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Previous studies focused on the fundamental channels of the interaction between the equity market and credit default swap (CDS) market. This paper finds another channel, investor sentiment, that contributes to the impact of the equity market on the CDS market under different time horizons and market conditions within the framework of wavelet quantile regression. It absorbs both the merits of wavelet transform and quantile regression and is advantageous in analyzing heterogeneous time horizons and full conditional distributions. Empirical results show that investor attitude turning optimistic h

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Bhatta, Bhuwaneshwar. "Impact of Corporate Financing Decisions on Firm Value of Listed Hydropower Companies in Nepal." Apex Journal of Business and Management 4, no. 1 (2025): 77–88. https://doi.org/10.61274/apxc.2025.v04i01.007.

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This study investigates the impact of corporate financing decisions on the market value of listed hydropower companies in Nepal. Specifically, it examines how financial metrics influence firm value, as measured by market capitalization. The analysis is based on 21 listed hydropower companies in Nepal from 2017 to 2023, comprising 147 observations. The study employs descriptive statistics, correlation analysis, and multiple regression analysis to assess the relationship between the dependent variable (firm value) and five independent variables: earnings per share, net worth per share, return on

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Silveira, Cleo Schmitt, Marta Olivia Rovedder de Oliveira, and Fernando Bins Luce. "Customer equity and market value: Two methods, same results?" Journal of Business Research 65, no. 12 (2012): 1752–58. http://dx.doi.org/10.1016/j.jbusres.2011.10.034.

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Aboulamer, Anas. "Adopting a circular business model improves market equity value." Thunderbird International Business Review 60, no. 5 (2017): 765–69. http://dx.doi.org/10.1002/tie.21922.

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ERTUĞRUL, Melik. "Is other Comprehensive Income a Form of Real Income? Evidence from the Value Relevance Analysis." International Journal of Contemporary Economics and Administrative Sciences 10, no. 1 (2020): 151–72. https://doi.org/10.5281/zenodo.3940510.

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As a part of improvements in accounting standards, other comprehensive income (OCI) has been the common income reporting practice since 2009. By considering the adaptation value of Burgstahler and Dichev (1997) and Hayn’s (1995) arguments on loss firms, this study analyzes whether OCI is a form of real income from the perspective of the value relevance research. Based on a sample of Turkish listed firms over 2009-2018, this study reports that: i) the impact of OCI on market value of equity is not significant, and ii) the impact of neither OCI nor book value of equity on market value of e

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Dagogo, Daibi Wellington, and Saheed K. Ajadi. "PRIVATE COST OF CAPITAL AND INCREMENTAL BUSINESS VALUE OF MID-MARKET FIRMS." Vol. 16, Number 1, 2021 16, Number 1 (2021): 1–20. http://dx.doi.org/10.32890/ijbf2021.16.1.1.

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This study examined the implications of private cost of capital on the incremental business value (IBV) of middle market firms in Nigeria. Specifically, three costs were identified as follows: private cost of debt (PCD), private cost of equity (PCE), and overall private cost of capital (PCOC). The purpose was to investigate the extent to which private cost of capital, which is calculated differently from weighted average cost of capital for large enterprises, could contribute to incremental business value of middle market (mid-market) firms. Two panel data regression models were specified with

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Cheng, Joseph, and Seena Houman. "Tale of Two Markets Before and After Pandemic: Economy Driven vs Dollar Driven." Journal of Finance Issues 20, no. 3 (2022): 18–25. http://dx.doi.org/10.58886/jfi.v20i3.3208.

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The correlation between the U.S. equity market and the U.S dollar is intriguing yet complex. In this paper, we dissect the correlation into two opposing driving forces: purchasing power versus economic strength. A weak dollar inevitably will have a lower purchasing power, causing prices of all dollar denominated assets to rise creating an inverse relationship between the value of the dollar and the U.S. equity market. On the other hand, increasing strength in the U.S. economy will boost the confidence in the U.S. equity market and in the U.S. dollar, thus creating a positive correlation betwee

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Dewi, Nadiah Sri, and Harti Budi Yanti. "Effect of Equity Market Value, Leverage and Information Asymmetry on the Cost of Equity Capital in LQ45 Companies." EBID:Ekonomi Bisnis Digital 1, no. 1 (2023): 31–38. http://dx.doi.org/10.37365/ebid.v1i1.173.

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This research was conducted to analyze the effect of Market Value on equity, Leverage, and Voluntary disclosure on the Cost of Equity Capital incorporated in LQ 45 companies on the Indonesia Stock Exchange. The data used in this research is secondary data, and a sample of 36 people is taken using purposive sampling technique. The data analysis method is multiple linear regression and the Classical Assumption test. The results of the analysis simultaneously show that the market value of equity, leverage and information asymmetry affect the cost of equity capital incorporated in LQ 45 companies

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Lyandres, Evgeny, Egor Matveyev, and Alexei Zhdanov. "Does the Market Correctly Value Investment Options?*." Review of Finance 24, no. 6 (2020): 1159–201. http://dx.doi.org/10.1093/rof/rfaa002.

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Abstract This paper shows that the stock market misprices firms’ investment options. We build a real options model of optimal investment under uncertainty to estimate the value of firms’ investment options. We show that firms with valuable investment options have a higher likelihood of being mispriced. Importantly, this mispricing is not one-sided, as such firms are equally likely to be undervalued or overvalued. Our paper adds to the debate on whether public equity markets are myopic and systematically undervalue innovative firms. We show that this is not necessarily the case.

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Subedi, Khem Raj. "Quest on Determinants of Stock Price in Nepal: Evidence of Microfinance Sector Share Listed in NEPSE." Journal of Tikapur Multiple Campus 7, no. 1-2 (2024): 85–106. http://dx.doi.org/10.3126/jotmc.v7i1-2.63178.

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Stock markets are crucial for economic prosperity, capital formation, and sustainable economic growth. It facilitates resource flow, investment opportunities, pooling funds, sharing risk, and wealth transfer between savers and users. This paper investigates the determinants of stock price traded in Nepal's secondary market through NEPSE, focusing on the microfinance sector. The study uses descriptive, analytical, and inferential research to analyze the determinants of microfinance companies' market prices. The econometric model's coefficient of variation value is 0.90, indicating that 90 per c

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NECHITA, Elena. "The Value Relevance of Non-Financial Reporting in Determining the Market Value of Equity." Audit Financiar 19, no. 162 (2021): 320–36. http://dx.doi.org/10.20869/auditf/2021/162/009.

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The value relevance of non-financial reporting is a topic of interest in the academic literature, the results of empirical research being often contradictory. In this context, the research objective is analysing the extent to which the disclosure of non-financial information related to sustainable development in the contents of sustainability reports published by companies listed on the regulated market of the Bucharest Stock Exchange (BSE) is influencing their market value. To conduct the analysis, the present study involves the application of multiple linear regression models developed based

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Duarte Cardoso, Daniel, Danilo Soares Monte-mor, Neyla Tardin, and Silvania Neris Nossa. "Hedge funds and the market return." Perspectivas Contemporâneas 18 (May 9, 2023): 1–15. http://dx.doi.org/10.54372/pc.2023.v18.3543.

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This paper investigates if the equity stake, along with hedge funds, generates value for target companies in highly concentrated markets, such as the Brazilian one. In a sample with 324 Brazilian companies listed in São Paulo Stock Market (B3) that are actively participating in the Anbima Hedge Fund Index (IHFA), between 2007 and 2016, we found that the equity stake of hedge funds generates value in Brazilian invested companies, despite the market being more concentrated. We capture the hedge fund effect on invested companies in terms of: (i) how much the firms’ market capitalization is mainta

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Vélez-Pareja, Ignacio, and Joseph Tham. "Market value calculation and the solution of circularity between value and the weighted average cost of capital WACC." RAM. Revista de Administração Mackenzie 10, no. 6 (2009): 101–31. http://dx.doi.org/10.1590/s1678-69712009000600007.

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Most finance textbooks present the Weighted Average Cost of Capital (WACC) calculation as: WACC = Kd×(1-T)×D% + Ke×E%, where Kd is the cost of debt before taxes, T is the tax rate, D% is the percentage of debt on total value, Ke is the cost of equity and E% is the percentage of equity on total value. All of them precise (but not with enough emphasis) that the values to calculate D% y E% are market values. Although they devote special space and thought to calculate Kd and Ke, little effort is made to the correct calculation of market values. This means that there are several points that are not

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