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Journal articles on the topic 'Valuation of stocks'

Author: Grafiati

Published: 4 June 2021

Last updated: 2 February 2022

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1

Ivanovski, Zoran, Zoran Narasanov, and Nadica Ivanovska. "Performance Evaluation of Stocks’ Valuation Models at MSE." Economic and Regional Studies / Studia Ekonomiczne i Regionalne 11, no. 2 (2018): 7–23. http://dx.doi.org/10.2478/ers-2018-0011.

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Abstract Subject and purpose of work: The main task of this paper is to examine the proximity of valuations generated by different valuation models to stock prices in order to investigate their reliability at Macedonian Stock Exchange (MSE) and to present alternative “scenario” methodology for discounted free cash flow to firm valuation. Materials and methods: By using publicly available data from MSE we are calculating stock prices with three stock valuation models: Discounted Free Cash Flow, Dividend Discount and Relative Valuation. Results: The evaluation of performance of three stock valua

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2

Barniv, Ran, Ole-Kristian Hope, Mark J. Myring, and Wayne B. Thomas. "Do Analysts Practice What They Preach and Should Investors Listen? Effects of Recent Regulations." Accounting Review 84, no. 4 (2009): 1015–39. http://dx.doi.org/10.2308/accr.2009.84.4.1015.

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ABSTRACT: From 1994 to 1998, Bradshaw (2004) finds that analysts' stock recommendations relate negatively to residual income valuation estimates (scaled by current price) but positively to valuation heuristics based on the price-to-earnings-to-growth ratio and long-term growth. These results are surprising, especially considering that future returns relate positively to residual income valuation estimates and negatively to heuristics. Using a large sample of analysts for the 1993–2005 period, we consider whether recent regulatory reforms affect this apparent inconsistent analyst behavior. Cons

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3

Cici, Gjergji, Alexander Kempf, and Alexander Puetz. "The Valuation of Hedge Funds’ Equity Positions." Journal of Financial and Quantitative Analysis 51, no. 3 (2016): 1013–37. http://dx.doi.org/10.1017/s0022109016000351.

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AbstractWe provide evidence on the valuation of equity positions by hedge funds. Reported valuations deviate from standard valuations based on closing prices from the Center for Research in Security Prices for roughly 7% of the positions. These equity valuation deviations are positively related to illiquidity and price volatility of the underlying stocks. They respond to past performance and intensify after an advisor starts reporting to a commercial database. Furthermore, advisors with more valuation deviations show a stronger discontinuity in their reported returns around 0, manage a higher

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4

Cervellati, Enrico Maria. "Analysts’ distorted valuation of hi-tech stocks." Corporate Ownership and Control 10, no. 1 (2012): 380–95. http://dx.doi.org/10.22495/cocv10i1c3art6.

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This paper aims to examine the distorted valuations of internet companies during the dot.com bubble. The analysis is performed through a clinical study of Tiscali, the most known Italian internet company at the time. First, its IPO is presented, underlining the presence of the three typical phenomena: the decision to go public during a hot issue market, the initial underpricing, and the long run underperformance. Second, a content analysis of the reports issued by analysts in the period 1999-2001 shows the most common mistakes in using relative market valuation techniques. Third, an event stud

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Boehme, Rodney D., Bartley R. Danielsen, and Sorin M. Sorescu. "Short-Sale Constraints, Differences of Opinion, and Overvaluation." Journal of Financial and Quantitative Analysis 41, no. 2 (2006): 455–87. http://dx.doi.org/10.1017/s0022109000002143.

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AbstractMiller (1977) hypothesizes that dispersion of investor opinion in the presence of short-sale constraints leads to stock price overvaluation. However, previous empirical tests of Miller's hypothesis examine the valuation effects of only one of these two necessary conditions. We examine the valuation effects of the interaction between differences of opinion and shortsale constraints. We find robust evidence of significant overvaluation for stocks that are subject to both conditions simultaneously. Stocks are not systematically overvalued when either one of these two conditions is not met

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6

Ivanović, Saša. "MANAGEMENT OF COMMON STOCKS." Tourism and hospitality management 9, no. 1 (2003): 207–19. http://dx.doi.org/10.20867/thm.9.1.19.

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Common stocks are easier to describe than fixed-income securities such as bonds, but they are harder to analyse. Fixed-income securities almost always have a limited life and an upper kune limit on cash payments to investors. Common stocks have neither. Although the basic principles of valuation apply to both, the role of uncertainty is larger for common stocks, so much so that it often dominates all other elements in their valuation.

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Kumar, Alok. "Hard-to-Value Stocks, Behavioral Biases, and Informed Trading." Journal of Financial and Quantitative Analysis 44, no. 6 (2009): 1375–401. http://dx.doi.org/10.1017/s0022109009990342.

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AbstractThis paper uses investor-level data to provide direct evidence for an intuitive but surprisingly untested proposition that investors make larger investment mistakes when valuation uncertainty is higher and stocks are more difficult to value. Using multiple measures of valuation uncertainty and multiple behavioral bias proxies, I show that individual investors exhibit stronger behavioral biases when stocks are harder to value and when market-level uncertainty is higher. I also find that informed trading intensity is higher among stocks where individual investors exhibit stronger behavio

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8

Nikolic, Ljubica. "Valuation of common and preferred stocks." Zbornik radova Pravnog fakulteta, Nis, no. 66 (2014): 139–60. http://dx.doi.org/10.5937/zrpfni1466139n.

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9

Price, Walter C. "Valuation of Hardware and Software Stocks." AIMR Conference Proceedings 2000, no. 5 (2000): 51–57. http://dx.doi.org/10.2469/cp.v2000.n5.3052.

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10

LAU, KA WO, and YUE KUEN KWOK. "VALUATION OF EMPLOYEE RELOAD OPTIONS USING UTILITY MAXIMIZATION APPROACH." International Journal of Theoretical and Applied Finance 08, no. 05 (2005): 659–74. http://dx.doi.org/10.1142/s0219024905003189.

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The reload provision in an employee stock option is an option enhancement that allows the employee to pay the strike upon exercising the stock option using his owned stocks and to receive new "reload" stock options. The usual Black–Scholes risk neutral valuation approach may not be appropriate to be adopted as the pricing vehicle for employee stock options, due to the non-transferability of the ownership of the options and the restriction on short selling of the firm's stocks as hedging strategy. In this paper, we present a general utility maximization framework to price non-tradeable employee

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11

Prigge, Stefan, and Lars Tegtmeier. "Market valuation and risk profile of listed European football clubs." Sport, Business and Management: An International Journal 9, no. 2 (2019): 146–63. http://dx.doi.org/10.1108/sbm-04-2018-0033.

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Purpose The purpose of this paper is to explore whether stocks in football clubs are valued in line with the valuation of other capital assets in the capital market. Moreover, it analyzes the risk profile of football stocks. By taking this perspective, the paper also contributes to the discussion on the motives of those who invest in football clubs, particularly the question of whether they expect extra benefits, i.e., in addition to dividends and share price appreciation, from the investments. Design/methodology/approach The empirical study analyzes the share prices of 19 listed European foot

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Nguyen, Dzung Viet. "Relative Versus Fundamental Valuation: An Empirical Study of US Biotechnology Firms Around the 2000 High-Tech Bubble." International Journal of Financial Research 11, no. 6 (2020): 226. http://dx.doi.org/10.5430/ijfr.v11n6p226.

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This study is related to the issue of whether the stock market reflects the fundamental value of high-tech firms around the 2000 high-tech bubble. We extend the literature on firm valuation by exploiting the conceptual difference between intrinsic and relative values. We apply the residual income model and valuation multiples to estimate these two values respectively and make a comparison for a sample of biotechnology firms. Under realistic assumptions, it seems that estimated fundamental values of these firms fail to be reflected by the stock market. Their market valuation is rather based on

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13

Galluccio, Nicholas F. "Analysis and Valuation of Small-Cap Stocks." AIMR Conference Proceedings 2002, no. 3 (2002): 19–25. http://dx.doi.org/10.2469/cp.v2002.n3.3198.

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14

Bierman, Harold. "Valuation of Stocks with Extraordinary Growth Prospects." Journal of Investing 10, no. 1 (2001): 23–26. http://dx.doi.org/10.3905/joi.2001.319447.

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Bartov, Eli, Partha Mohanram, and Chandrakanth Seethamraju. "Valuation of Internet Stocks-An IPO Perspective." Journal of Accounting Research 40, no. 2 (2002): 321–46. http://dx.doi.org/10.1111/1475-679x.00050.

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16

Lytvynenko, Volodymyr, and Kateryna Kamyns'ka. "IMPROVEMENT OF THE EVALUATION METHOD OF RESERVES IN ACCOUNTING." Economic Analysis, no. 27(3) (2017): 236–41. http://dx.doi.org/10.35774/econa2017.03.236.

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Introduction. The article deals with the main approaches to reserves valuation in accordance with the requirements of national accounting standards. The methods of stock assessment at different stages of their circulation are considered: on stage of admission, on balance sheet date and at the time of disposal. Purpose. The article aims to study the improvement of inventory assessment methodology at different stages of their circulation to ensure the accuracy of accounting information about the cost of stocks. The method (methodology). The study used the methods of theoretical and logical gener

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Arasu, B. Senthil, Desti Kannaiah, Nancy Christina J., and Malik Shahzad Shabbir. "Selection of Variables in Data Envelopment Analysis for Evaluation of Stock Performance." Management and Labour Studies 46, no. 3 (2021): 337–53. http://dx.doi.org/10.1177/0258042x211002511.

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This study deploys data envelopment analysis (DEA) to identify the appropriate variables for the performance valuation of stocks. For this purpose, sixty-nine non-financial stocks of the Nifty 100 index of The National Stock Exchange of India Ltd (NSE) were selected as a sample for this study. We segregated the selected stocks into three groups of inputs and outputs for DEA based on fundamental indicators (financial ratios); technical indicators (momentum indicators); and both, fundamental and technical indicators. The stock performance indicators are sourced from the ACE database from financi

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18

Kusmayadi, Iwan, Muhammad Ahyar, Muhdin Muhdin, and G. A. Oktaryani. "PROSPEK SAHAM PERBANKAN DI INDONESIA." JMM UNRAM - MASTER OF MANAGEMENT JOURNAL 9, no. 2 (2020): 175. http://dx.doi.org/10.29303/jmm.v9i2.547.

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The focus of this research is to determine stocks provide the highest profit (gain opportunity) for investors. Investors will compare opportunities in choosing investment in the banking sector by comparing the combination of long-term growth rates rather than bank fundamentals with stock valuations. The population in this study is banking stocks included in the LQ45 index. The method of data collection uses a sample survey with a purposive sampling technique with the criteria of banking stocks with the largest market capitalization and has a high level of liquidity in trading values, and has c

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Schober, Peter, and Martin Wagener. "Arbitrage potential in the Eurex order book – evidence from the financial crisis in 2008." Risk Governance and Control: Financial Markets and Institutions 5, no. 4 (2015): 300–313. http://dx.doi.org/10.22495/rgcv5i4c2art4.

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In this paper we investigate the valuation efficiency of the Eurex market for DAX single stock options. As a measure of arbitrage potential we use an adapted version of Stoll’s put-call parity model. By calculating deviations from the theoretical fair put and call prices before and during the financial crisis in 2008, we find evidence for a decrease in market’s valuation efficiency. Valuation efficiency is even worse for German financial stocks for which short selling was restricted. Although considerable profit opportunities are found, only a small number turn out to be profitable after trans

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Tlemsani, Issam, Fai Albadeen, Ghada Althaaly, Maha Aljughaiman, and Hala Bubshait. "Tadawul and Dubai Financial Market - A Comparative Study." Journal of Business Administration Research 9, no. 2 (2020): 45. http://dx.doi.org/10.5430/jbar.v9n2p45.

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This research is intended to identify the fundamentals of stock valuation and utilize them in the macro analysis and micro valuation of two major stock exchanges ‘Tadawul’ and ‘Dubai Financial Market’. These stock exchanges are compared in terms of their strengths and weaknesses according to significant economic indicators, alongside essential stock market determinants, all the while highlighting relevant relationships among them. Upon assessment, GDP has a strong influence on the valuation of the market and KSA’s GDP growth in the last two years has been slightly higher than UAE’s growth, aff

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21

Bianconi, Marcelo, and Joe Akira Yoshino. "Valuation of the worldwide commodities sector." Studies in Economics and Finance 34, no. 4 (2017): 555–79. http://dx.doi.org/10.1108/sef-04-2016-0095.

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Purpose This paper aims to empirically investigate the market-to-book/return on equity valuation model. Design/methodology/approach The authors use a worldwide commodities sector panel of 6,323 firms from 69 countries with annual observations from 1999 to 2010 to estimate panel ordinary least squares (OLS), instrumental variables (IV) and quantile regressions. They also measure the impact of return on equity on market-to-book uncovering value versus growth and positive versus negative profitability dimensions. Findings The new evidence is that the impact of return on equity on market-to-book i

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22

Ali, Syed Babar. "Valuation of Equity Securities, Private Firms, and Startups." IBT Journal of Business Studies 16, no. 1 (2020): 125–40. http://dx.doi.org/10.46745/ilma.jbs.2020.16.01.09.

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For valuation of equity securities and similar objects research has not been rigorous and holistic. This paper is an attempt to review the literature on valuation of equity for a variety of types of entities, and within some important valuation contexts. The review was performed for such themes as (1) Valuation of Stocks (2) Valuation of Private Firms (3) Valuation of Startups (4) Valuation in Emerging Markets (5) Valuation and IPO. The review found that there is a consensus over various models for their usefulness and theoretical soundness, at the same time researchers and practitioner are se

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Selvam, M., G. Indhumathi, and J. Lydia. "Impact on Stock Price by the Inclusion to and Exclusion from CNX Nifty Index." Global Business Review 13, no. 1 (2012): 39–50. http://dx.doi.org/10.1177/097215091101300103.

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Changes in an index are a regular phenomenon and they take place due to the inclusion and exclusion of stocks from the index. The inclusion or exclusion of stocks creates great impact on the value of the firm. However, these changes are simply a short-lived event with no permanent valuation effect. The present research study analyzed the impact of the inclusion into and exclusion of certain stocks from National Stock Exchange (NSE) S&P CNX Nifty index with Indian perspective. The study provides evidence on whether the announcements of Nifty index maintenance committee have any information

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Kou, S. C., and S. G. Kou. "Modeling growth stocks via birth-death processes." Advances in Applied Probability 35, no. 03 (2003): 641–64. http://dx.doi.org/10.1017/s0001867800012477.

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The inability to predict the future growth rates and earnings of growth stocks (such as biotechnology and internet stocks) leads to the high volatility of share prices and difficulty in applying the traditional valuation methods. This paper attempts to demonstrate that the high volatility of share prices can nevertheless be used in building a model that leads to a particular cross-sectional size distribution. The model focuses on both transient and steady-state behavior of the market capitalization of the stock, which in turn is modeled as a birth-death process. Numerical illustrations of the

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Kou, S. C., and S. G. Kou. "Modeling growth stocks via birth-death processes." Advances in Applied Probability 35, no. 3 (2003): 641–64. http://dx.doi.org/10.1239/aap/1059486822.

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The inability to predict the future growth rates and earnings of growth stocks (such as biotechnology and internet stocks) leads to the high volatility of share prices and difficulty in applying the traditional valuation methods. This paper attempts to demonstrate that the high volatility of share prices can nevertheless be used in building a model that leads to a particular cross-sectional size distribution. The model focuses on both transient and steady-state behavior of the market capitalization of the stock, which in turn is modeled as a birth-death process. Numerical illustrations of the

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Haslem, John A. "Valuation of Stocks with Prospects of Dividend Growth." Journal of Investing 11, no. 1 (2002): 64–68. http://dx.doi.org/10.3905/joi.2002.319496.

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27

Hammar, S. "Value and small firm premiums in the South African market." South African Journal of Business Management 45, no. 4 (2014): 71–91. http://dx.doi.org/10.4102/sajbm.v45i4.142.

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Numerous studies have identified both value and size effects existing in international markets. Fewer studies have been conducted that document the same effects in the South African market. In this study, portfolios were constructed based on four valuation multiples, as well as market capitalisation from 1999 2012. In this 14-year period it was found that value stocks predominantly outperformed growth stocks when defined by P/E or P/CF. Growth stocks outperformed value stocks when the portfolios were based on P/B and DY. Also, significant evidence of a small firm premium was identified on the

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Fohlin, Caroline, and Zhikun Lu. "How Contagious Was the Panic of 1907? New Evidence from Trust Company Stocks." AEA Papers and Proceedings 111 (May 1, 2021): 514–19. http://dx.doi.org/10.1257/pandp.20211097.

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Using a new dataset of all NYC trust company stocks, we study the impact of the Panic of 1907 and the ensuing cash infusion by JP Morgan and the Treasury. Using synthetic controls, we find that three “troubled” trusts performed far worse than the other trusts, whose valuations rebounded within a year. Moreover, trust companies connected to “money trust” banks maintained higher valuation than independents and rebounded much faster. The desire to prevent panic from spreading from infected trusts to financial institutions in his purview could explain Morgan's rapid intervention to stem the contag

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Dananjaya, Yanuar, and Renna Magdalena. "Quality Investing: the Role of Profitability to Separate Good From Bad Stock in Value Investing." International Journal of Scientific Research and Management 9, no. 1 (2021): 2011–116. http://dx.doi.org/10.18535/ijsrm/v9i1.em03.

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This paper examines how company measurement of profitability can be used to enhance the return of value investing strategy. In value investing strategy, stocks that are deemed cheap based on certain measurement are purchased. It is expected that the price of cheap stocks will increase in the future, and thus resulting in high return. In the heart of this strategy is the assumption that investors overreact to bad news. Thus bad news of a company will result in reduction of stock price below its fundamental value, resulting in undervaluation of the stock. The problem with this strategy is that n

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Dananjaya, Yanuar, and Renna Magdalena. "Quality Investing: the Role of Profitability to Separate Good From Bad Stock in Value Investing." International Journal of Scientific Research and Management 9, no. 1 (2021): 2011–116. http://dx.doi.org/10.18535/ijsrm/v9i1.em03.

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This paper examines how company measurement of profitability can be used to enhance the return of value investing strategy. In value investing strategy, stocks that are deemed cheap based on certain measurement are purchased. It is expected that the price of cheap stocks will increase in the future, and thus resulting in high return. In the heart of this strategy is the assumption that investors overreact to bad news. Thus bad news of a company will result in reduction of stock price below its fundamental value, resulting in undervaluation of the stock. The problem with this strategy is that n

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31

O’Brien, Thomas. "Applying Merton’s valuation adjustment for incomplete information … and do you need to?" Managerial Finance 46, no. 1 (2019): 109–19. http://dx.doi.org/10.1108/mf-04-2019-0156.

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Purpose The purpose of this paper is to offer a “how to” guide for applying Merton’s (1987) valuation adjustment for incomplete information, which depends on market capitalization, idiosyncratic risk and extent of investor ownership. Design/methodology/approach The paper illustrates Bodnaruk and Ostberg’s (2009) formula for Merton’s adjustment, and presents some example empirical estimates of the adjustment for some US stocks. Findings The adjustment estimates are material for many example stocks, particularly volatile stocks with a low percentage of shares held by institutional funds. However

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Barros, Claudio Marcelo Edwards, Iago França Lopes, and Itzhak David Simão Kaveski. "Pokémon Go!: Stock valuation and disruptive innovation in entertainment industry." Revista Contemporânea de Contabilidade 18, no. 46 (2021): 47–63. http://dx.doi.org/10.5007/2175-8069.2021.e70100.

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This research aims to analyze the impact of the announcement of the launch of the game Pokémon Go! on Nintendo's stocks. The study anchors itself on conceptual foundations of disruptive innovation and previous research that examined the stock market reaction to the announcement of innovations. This is an empirical research whose sample is made up of 4 Nintendo company assets traded in the United States, Germany, Switzerland and Japan, as well as the assets of companies comparable to Nintendo that made up the Detailed Stock Report available in the Refiniv® system (Thomson Reuters), at the time

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Laux, Judy. "Topics In Finance Part IV - Valuation." American Journal of Business Education (AJBE) 3, no. 9 (2010): 1–6. http://dx.doi.org/10.19030/ajbe.v3i9.473.

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This article looks at security valuation from the perspective of the financial manager, accenting the relationships to stockholder wealth maximization (SWM), risk and return, and potential agency problems. It also covers some of the pertinent literature related to how investors and creditors price the stocks and bonds of corporations.

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34

Berger, Philip G. "Discussion of Valuation of Internet Stocks-An IPO Perspective." Journal of Accounting Research 40, no. 2 (2002): 347–58. http://dx.doi.org/10.1111/1475-679x.00051.

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Dudney, Donna M., Benjamas Jirasakuldech, Thomas Zorn, and Riza Emekter. "Do residual earnings price ratios explain cross-sectional variations in stock returns?" Managerial Finance 41, no. 7 (2015): 692–713. http://dx.doi.org/10.1108/mf-07-2013-0179.

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Purpose – Variations in price/earnings (P/E) ratios are explained in a rational expectations framework by a number of fundamental factors, such as differences in growth expectations and risk. The purpose of this paper is to use a regression model and data from four sample periods (1996, 2000, 2001, and 2008) to separate the earnings/price (E/P) ratio into two parts – the portion of E/P that is related to fundamental determinants and a residual portion that cannot be explained by fundamentals. The authors use the residual portion as an indicator of over or undervaluation; a large negative resid

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Wang, Qiming. "Evolution of integer price clustering of IPOs in the aftermarket." Nankai Business Review International 5, no. 4 (2014): 365–81. http://dx.doi.org/10.1108/nbri-01-2014-0008.

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Purpose – The purpose of this paper is to, using a large sample of NASDAQ initial public offerings (IPOs), examine the evolution of integer price clustering of IPOs in the aftermarket trading. Design/methodology/approach – Consistent with Harris’s (1991) costly negotiation hypothesis, clustering on integer prices is a positive function of price level and various stock valuation uncertainty proxies, and it is a negative function of trading activities for IPOs and seasoned stocks. Findings – It was found that, after controlling for price level, daily return volatility, number of trades, trading

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Zeng, Bei, Andreas Johannesen, and Xin Fang. "How to value a real estate company? Alexander & Baldwin, Inc. (ALEX)." CASE Journal 16, no. 2 (2020): 155–83. http://dx.doi.org/10.1108/tcj-04-2019-0043.

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Purpose This study aims to provide students an opportunity to analyze the financial performance of a publicly listed real estate company and estimate its instinct value by applying appropriate financial models and approaches. Theoretical basis Three major valuation models/approaches generated by financial theory and practice to estimate the intrinsic value of a security: discounting cash-flows valuation (DCF and NPV) – valuation through adjusted net asset and liquidation value (NAV) – relative valuation through price and value multiples (valuation multiple analysis and precedent transactions a

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Samarasinghe, Oshadhi, and Suzie Greenhalgh. "Valuing the soil natural capital: a New Zealand case study." Soil Research 51, no. 4 (2013): 278. http://dx.doi.org/10.1071/sr12246.

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Inherent characteristics of soil and land valuation data are used to examine the relationship between soil characteristics and rural farmland values to value soil natural capital in the 6000 km2 Manawatu catchment in New Zealand. The study applies a widely used economic valuation method to determine whether the value of inherent characteristics of soils is reflected in land values. We find empirical evidence that the characteristics used to describe soil natural capital stock, e.g. gravel class, drainage class, potential rooting depth, and profile available water, are reflected in rural land v

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Cheng, Xusen, Danya Huang, Jin Chen, Xiangsong Meng, and Chengyao Li. "An Investigation on Factors Affecting Stock Valuation Using Text Mining for Automated Trading." Sustainability 11, no. 7 (2019): 1938. http://dx.doi.org/10.3390/su11071938.

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Predicted price-to-book value ratios (P/BV) are widely used for the valuation of listed common stocks. However, with the application of automated trading system (ATS), the existing indicators that are applied in the method are losing their effectiveness in the Chinese market. Combining qualitative research with the text mining method, this study explores and validates those ignored factors to improve the accuracy of the stock valuation. On the basis of the principal of the existing valuation method, we clarify the scope of the factors that affects the P/BV ratio prediction. Through semi-struct

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Azar, Samih Antoine. "Irrelevance of inflation: The Dow stocks." Accounting and Finance Research 9, no. 1 (2020): 45. http://dx.doi.org/10.5430/afr.v9n1p45.

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The irrelevance of inflation is a proposition, inherited from corporate finance, which states that inflation is irrelevant for the valuation of nominal and real stock prices. In other terms, Net Present Values (NPVs) and stock returns are independent of the inflation rate. The issue at stake is both theoretical and empirical, although the first came much before the latter. In the empirical realm, stock returns are found to be statistically negatively related to inflation. However, and theoretically, the classical school predicted that they should be related positively one-to-one. Moreover long

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Shehu, Blerim. "RESERVES AND THE COST OF GOODS SOLD." KNOWLEDGE INTERNATIONAL JOURNAL 30, no. 1 (2019): 147–51. http://dx.doi.org/10.35120/kij3001147s.

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This topic is about the role of stocks of commodities located in the warehouse, these goods are in the form of finished products, auxiliary materials semi-products. Control of material goods by enterprise executives, information provided to auditors. With internal control we can find the exact cost of the reserves, the exact cost of the goods sold and we can accurately determine the amount they are in the warehouse. Through accurate records, the true amount of material goods is determined, eliminating doubt about the valuation of the material goods that are in stock. Reports accepted the audit

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Vasconcelos, Lucas Nogueira Cabral de, and Orleans Silva Martins. "Value and growth stocks and shareholder value creation in Brazil." Revista de Gestão 26, no. 3 (2019): 293–312. http://dx.doi.org/10.1108/rege-12-2018-0127.

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Purpose Investors label high (low) book-to-market (B/M) firms as value (growth) companies. The conventional wisdom supports that growth stocks grow faster than the value ones, creating greater shareholder value. The Purpose of this paper is to analyze how stocks of growth and value companies create value for their shareholders in Brazil, compared to the USA market. For this, the authors analyze three dimensions of return. Design/methodology/approach First, the authors perform portfolios to analyze the growth rates of shareholders’ return. Then, the authors perform regressions to study the expl

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Frank, A. G. "The bimodal character of stock distribution." South African Journal of Business Management 32, no. 3 (2001): 11–16. http://dx.doi.org/10.4102/sajbm.v32i3.721.

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The bimodal character of stocks is demonstrated when they are classified according to their style. Stocks are often assigned, on the basis of some valuation parameter, uniquely as either value or growth even though, over time, changes in a stock’s-growth probability should trace the evolution of the corporate life cycle. This study is concerned with investigating the relationship of that probability to market cycles. Two hundred and eighty eight stocks from the ASEAN are tracked over an eight-year period. The percentages of those, on a monthly basis, that are in the top quintile of EPS growth,

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Mauko, Arfan, Muslimin B, and Putu Sugiartawan. "Sistem Pendukung Keputusan Kelompok pemilihan Saham LQ45 dengan menggunakan metode AHP, Promethee dan BORDA." Jurnal Sistem Informasi dan Komputer Terapan Indonesia (JSIKTI) 1, no. 1 (2018): 25–34. http://dx.doi.org/10.33173/jsikti.6.

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Investments shares on the Indonesia Stock Exchange is one of the investment with a high rate of return. Stock investment profit greatly influenced by the selection of the right stocks in a portfolio. Analyzing the uncertainty of a stock investor can involve the process of stock selection in group decision which includes investors, investment bankers, analysts, and brokers. Stock selection as a group can produce a stock portfolio with a higher rate of profit than the results of individual decision-making.  Implementation of stock selection in group decision support systems (GDSS) used two

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Bond, Craig A. "Valuing Coastal Natural Capital in a Bioeconomic Framework." Water Economics and Policy 03, no. 02 (2017): 1650008. http://dx.doi.org/10.1142/s2382624x16500089.

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The wetlands of the Gulf Coast region of the United States are under pressure from relative sea level rise and subsidence pressures that threaten to alter fishery breeding grounds and increase expected damage from stochastic storm events, among other issues. Barrier islands, marshes, and swamps are thus forms of natural capital that serve an intermediate role in supporting fishery stocks, as well as a final demand role in providing direct protection to infrastructure. In order to make good policy choices related to land loss, the values associated with these interacting stocks must be estimate

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Spilioti, Stella N., and George A. Karathanassis. "Traditional versus Clean-Surplus Valuation Models: Evidence from U.K. Stocks." Journal of Investing 19, no. 4 (2010): 84–93. http://dx.doi.org/10.3905/joi.2010.19.4.084.

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Chiang, Raymond, and Ricardo J. Rodriguez. "Personal taxes, holding period, and the valuation of growth stocks." Journal of Economics and Business 42, no. 4 (1990): 303–9. http://dx.doi.org/10.1016/0148-6195(90)90039-f.

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Girard, Eric, James Nolan, and Fang Zhao. "On the Pricing Of Chinese Stocks." International Business & Economics Research Journal (IBER) 12, no. 2 (2013): 213. http://dx.doi.org/10.19030/iber.v12i2.7633.

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This study identifies the leading risk attributes to Chinese stock returns. We demonstrate that the forecasting ability of a multifactor expression that includes micro (fundamental) risk factors conditioned by time-varying macro global and local risk factors is significantly superior to the forecasting ability of simpler nested unconditional models. We conclude that micro and macro local and global risks are instrumental in describing the return-generating process of Chinese equities. Using an attribution analysis, we further show that the valuation of Chinese equities is largely conditioned b

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ÖZCAN, İsmail Çağrı. "STOCK MARKET REACTIONS TO REGULATORY EVENTS ON EMISSION TRADING: EVIDENCE FROM THE EUROPEAN AIRLINE INDUSTRY." Business & Management Studies: An International Journal 7, no. 2 (2019): 1061–75. http://dx.doi.org/10.15295/bmij.v7i2.1104.

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The inclusion of international aviation emissions into the European Union Emission Trading Scheme starting from 2012 is expected to bring additional costs to flights having either origins or destinations at a European Union airport. In turn, this should bring new costs to airlines. The aim of this paper is to analyze how financial markets reacted to the official announcements on this regulatory change. Our findings, using an event-study methodology and employing a sample of 20 European airlines’ stocks, reveal that the stock markets tend not to take these regulatory changes into account in the

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Lee, Su Jeong, Young Jun Kim, Eugenia Y. Lee, and Ga-young Choi. "Market Reactions to Announcements of Valuation Losses on Conversion Rights Embedded in Convertible Instruments." Journal of Derivatives and Quantitative Studies 28, no. 1 (2020): 35–61. http://dx.doi.org/10.37270/jdqs.28.1.2.

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Convertible instruments are financial instruments embedded with conversion rights such as convertible bonds or convertible preferred stocks. Under the Korean International Financial Reporting Standards (K-IFRS), the embedded conversion rights with certain conditions (i.e., a refixing clause) are recognized as derivative liabilities and are recognized at fair value in issuer’s financial statements. Since the value of convertible rights varies with the underlying stock value, an increase in the issuers’ stock price causes the issuers of convertible instruments to announce large derivative valuat

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