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This dissertation offers a microstructure-based model to explain two puzzles in finance: diversification discount and …
Persistent link: https://www.econbiz.de/10009472099
Source: Dissertation Abstracts International, Volume: 58-02, Section: A, page: 0539.
Persistent link: https://www.econbiz.de/10009472449
Organizational Capital Budgeting Model (OCBM) is a general theory of capital budgeting that incorporates traditional capital budgeting theories and the consideration about firm's information/ organization structure. The traditional financial capital budgeting model is a special case of OCBM....
Persistent link: https://www.econbiz.de/10009475515
This dissertation bridges the gap of knowledge between communication and financial research in the area of corporate information dissemination. Mainstream financial research views corporate disclosure of earnings as an event. Earnings estimates are important to the valuation of a firm. It would...
Persistent link: https://www.econbiz.de/10009477640
This dissertation determines how well the Rubinstein-Leland (1981) synthetic option strategy replicates listed call options and theoretical Black-Scholes (BS) call premiums. Three rebalancing methods are implemented to trigger changes in the stock/debt mix: time--the portfolio is changed at...
Persistent link: https://www.econbiz.de/10009477683
Essay 1 extends the existing theoretical framework to incorporate a bank's charter value and analyze directly its effect on the pricing of deposit insurance. It derives values of deposit insurance with both deterministic and stochastic charter values. It is shown that significant charter value...
Persistent link: https://www.econbiz.de/10009477693
This study evaluates post-acquisition performance adjustments in banks that have been involved in bank acquisitions. Evaluation of post-acquisition changes in productive efficiency, leverage, and portfolio mix are the basis for the analysis. The magnitude and types of performance changes that...
Persistent link: https://www.econbiz.de/10009477713
This dissertation provides extensive empirical evidence--a large sample study over a long period--about the link between strategy and shareholder value. In contrast to the typical measure of shareholder value--stock price times the number of shares outstanding--this dissertation uses beta excess...
Persistent link: https://www.econbiz.de/10009477731
their share of formal credit. Second, SMEs' most important source of investment finance is their internal resources … rather than selling short term assets. This shows that firms did not need to wait to accumulate assets to finance their peak …
Persistent link: https://www.econbiz.de/10009477735
In this study, a model is introduced to explain the relation between the speed of market reaction to accounting earnings information and the precision of an individual's expectations prior to the earnings announcement. The model predicts that the relationship is negative. A method of estimating...
Persistent link: https://www.econbiz.de/10009477736