Introduction to valuation -- Financial statement analysis -- Measuring free cash flows -- Creating a financial model -- The adjusted present value and weighted average cost of capital discounted cash flow valuation methods -- Measuring continuing value using the constant-growth perpetuity model...

This paper finds that CEO stock options influence the choice, amount, and timing of funds distributed as a buyback. These results support two research expectations - that buybacks impose option-induced agency costs on outside shareholders, and that managers benefit from weak governance and...

This study examines the trading behavior of a large sample of individual (retail) investors around securities litigation events. We test the hypothesis that the response of these investors around the end of the litigation class period (at the time of a corrective disclosure) and the start of the...

This paper finds that CEO stock options influence the choice, amount, and timing of funds distributed as a buyback. These results favor a managerial opportunism motive for buybacks over other theories and support two key research expectations - that buybacks impose option-induced agency costs on...

We evaluate an industry disclosure initiative designed to inform investors, the practice of providing information regarding investment professionals' backgrounds. Implicit in the motivation for this initiative is the presumed relevance of background information to investors seeking investment...

While brokerage houses use both teams of sell-side analysts and individual analysts to conduct earnings research, there is no empirical research examining if teams and individuals differ with regard to their forecasting performance or purpose, and if so, how and why. We first examine the...