Valuation Effects with Transitory and Trend Output Shocks

2008 ◽  
Author(s):  
Ha Minh Nguyen
Keyword(s):  
Valuation Effects

The Determinants of Merger Withdrawals’ Abnormal Returns in The Australian Market

2015 ◽  
pp. 89-110 ◽  
Author(s):  
Thuy Nguyen Thu ◽  
Giang Dao Thi Thu ◽  
Hoang Truong Huy
Keyword(s):  
Financial Crisis ◽  
Event Study ◽  
Abnormal Returns ◽  
Market Response ◽  
Crisis Period ◽  
Valuation Effects ◽  
Event Study Method ◽  
Private And Public ◽  
Method Of Payment ◽  
The Impact

This paper examines the abnormal returns in merger withdrawals in Australia, especially distinguishing the market response between private and public targets. We also study the determinants of those abnormal returns, including the method of payment and the impact of financial crisis periods. Using the event study method, we document that in the Australian context, the announced withdrawal of mergers involving private targets creates significantly negative valuation effects in comparison with the valuation effects in withdrawal of mergers involving public targets. We also find that a financial crisis period strongly affects abnormal returns of merger withdrawals. However, the method of payment does not have any impact on the abnormal returns.

Private Benefits in a Contingent Claim Framework: Valuation Effects and Other Implications

2011 ◽  
Author(s):  
Patrick Navatte ◽  
Franck Moraux
Keyword(s):  
Contingent Claim ◽  
Private Benefits ◽  
Valuation Effects

The Relative and Incremental Valuation Effects of Embedded Value Disclosure by Life Insurers: Evidence from Cross-Listed Firms in the U.S.

2014 ◽  
Vol 29 (2) ◽  
pp. 327-339 ◽  
Author(s):  
Samir M. El-Gazzar ◽  
Rudolph A. Jacob ◽  
Scott P. McGregor
Keyword(s):  
Empirical Studies ◽  
Explanatory Power ◽  
Accounting Standards ◽  
Cash Flows ◽  
Market Prices ◽  
Joint Project ◽  
Listed Firms ◽  
Valuation Effects ◽  
Life Insurers ◽  
Embedded Value

SYNOPSIS European life insurers began disclosing embedded value information (EV) over a decade ago due to concerns with traditional local accounting standards. EV is an estimate of the present value of future net cash flows from in-force life insurance business. However, U.S.-based life insurers have yet to adopt this disclosure, although several surveys and empirical studies suggest that EV disclosure provides valuable information in assessing life insurers' performance. This paper examines the incremental valuation effects of EV disclosure in the presence of U.S. GAAP. We utilize a sample of cross-listed life insurers as surrogates to assess the valuation effects of EV disclosures for U.S. life insurers. Our empirical results show a higher association between EV and stock market prices than those of traditional accounting metrics such as earnings or book value. The results also show that EV has incremental explanatory power beyond those of traditional U.S. GAAP accounting measures. Our findings provide vital input to FASB and IASB as they currently engage in a joint project to develop uniform globally acceptable, comparable accounting standards for life insurers.

EQUITY VALUATION EFFECTS OF FORCED WARRANT EXERCISE

1995 ◽  
Vol 18 (2) ◽  
pp. 157-170
Author(s):  
L. Paige Fields ◽  
William T. Moore
Keyword(s):  
Equity Valuation ◽  
Valuation Effects

The valuation effects of the 1977 Community Reinvestment Act and its enforcement

1996 ◽  
Vol 20 (5) ◽  
pp. 783-803 ◽  
Author(s):  
Shane A. Johnson ◽  
Salil K. Sarkar
Keyword(s):  
Community Reinvestment Act ◽  
Valuation Effects ◽  
Community Reinvestment

The valuation effects of stock splits in NASDAQ

2006 ◽  
Vol 32 (5) ◽  
pp. 401-414 ◽  
Author(s):  
Katerina Lyroudi ◽  
Apostolos Dasilas ◽  
Antonios Varnas
Keyword(s):  
Stock Splits ◽  
Valuation Effects

scholarly journals The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks

2012 ◽  
Author(s):  
Luc A. Laeven ◽  
Martin Richard Goetz ◽  
Ross Eric Levine
Keyword(s):  
Geographic Diversification ◽  
Valuation Effects
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