The slow-to-start models are a classical cellular automata model in simulating vehicle traffic. However, to our knowledge, the slow-to-start effect has not been considered in modeling pedestrian dynamics. We verify the similar behavior between pedestrian and vehicle, and propose an new lattice...

This study examines how information environment and industry concentration affect the relations between firms’ financial disclosure quality and cost of capital. Information environment is proxied by firm size, and industry concentration is proxied by four-firm concentration ratio. The...

We invert the residual income valuation model (using current stock prices, current book value of equity and short-term forecasts of accounting earnings) to obtain an estimate of the expected rate of return for a portfolio of stocks. Our approach is analogous to the estimation of the internal...

The AICPA/CICA has established WebTrust to respond to consumer concerns about the risks of making purchases over the Internet. While WebTrust provides assurances related to Internet vendors'; business and security practices, it does not provide assurances with respect to product or service...

The current study examines whether firms that attempt to increase EPS to meet analyst forecasts through stock repurchases tend to pay a relatively higher price for their stock than firms that repurchase stock for other purposes, such as to benefit from temporary undervaluation of their stock....