Does geographic dispersion affect firm valuation?

2008 ◽  
Vol 14 (5) ◽  
pp. 674-687 ◽  
Author(s):  
Wenlian Gao ◽  
Lilian Ng ◽  
Qinghai Wang
Author(s):  
Wenlian Gao ◽  
Lilian K. Ng ◽  
Qinghai Wang

2019 ◽  
Author(s):  
Yohanes Indrayono

<p>This study contributes to the on-going studies on behavioral finance by providing a case study on underreaction and overreaction of firm stocks to firm valuation. We use the Model of Investor Sentiment (Barberis et al., 2005) to evaluate underreaction and overreaction behavior and reflect on specific findings in the Indonesian market. The result of the study is most of the stocks in the Indonesian Stock Exchange are more overreaction to the news of firm financial statements. Firms on the industry with more intangible assets measure more overreaction than firms on industries with more tangible assets. For stocks with overreaction, the stock firm value is positively affected by a change in the total assets and profitability, but not by change of book value. The result concretized no evidence that firm stocks overreacted to the news more than underreacting. In stock industrial sectors, the financial institutions and wholesale industry stocks demonstrated remarkable overreactions. Nonetheless, automotive, building construction, food and beverage as well as cement evidenced more underreaction. For better return in financial markets, investors may buy stocks of the firm on industry with more tangible assets when there is no good news about the increasing firm profitability and sales; nonetheless, they should buy stocks of the firm on industry with more intangible assets when there is no lousy news about the increasing firm profitability and sales. </p>


Cultura ◽  
2018 ◽  
Vol 15 (2) ◽  
pp. 31-52
Author(s):  
Chien-shou CHEN

Abstract This article attempts to strip away the Eurocentrism of the Enlightenment, to reconsider how this concept that originated in Europe was transmitted to China. This is thus an attempt to treat the Enlightenment in terms of its global, worldwide significance. Coming from this perspective, the Enlightenment can be viewed as a history of the exchange and interweaving of concepts, a history of translation and quotation, and thus a history of the joint production of knowledge. We must reconsider the dimensions of both time and space in examining the global Enlightenment project. As a concept, the Enlightenment for the most part has been molded by historical actors acting in local circumstances. It is not a concept shaped and brought into being solely from textual sources originating in Europe. As a concept, the Enlightenment enabled historical actors in specific localities to begin to engage in globalized thinking, and to find a place for their individual circumstances within the global setting. This article follows such a line of thought, to discuss the conceptual history of the Enlightenment in China, giving special emphasis to the processes of formation and translation of this concept within the overall flow of modern Chinese history.


2012 ◽  
Author(s):  
Jianxin Daniel Chi ◽  
Juan (Julie) Wu

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