This study aims to investigate the complex link between carbon emissions, firm value, and financial choice in regard to the GCC, a dynamic emerging economy. It also seeks to answer the question on whether the financial structure of a firm moderates the correlation between carbon emissions and...

One of the most misunderstood components of valuing a small closely-held business is how to address the impact of small size. Most closely-held enterprises are relatively small in size, with market values less than $1million. Many small mom and pop operations, or single owner-operator family...

This study investigates the interdependencies between debt capital and dividend policy as complementary factors influencing firm value among corporations listed on the Korea Composite Stock Price Index (KOSPI). Using Tobin's Q as a firm value metric and employing robust econometric techniques...

This study uses a novel measure of climate change exposure at the firm level to investigate the impact of climate change on the value of Asia-Pacific non-financial firms. We examine whether increased carbon disclosure mitigates this impact. The findings reveal that a one-standard-deviation...

The paper investigates the effect of environmental policies on the market valuation of companies within the European Union's Industrial sector, along with traditional financial indicators. Taking into account the Corporate Sustainability Reporting Directive imposed by the European Union...

We propose a fundamental valuation model for sports clubs and stadia using discounted (adjusted) revenues. We argue that a sports club is a "quasi firm" that aims to balance budgets, achieve an efficient allocation of financial resources, and maximize revenues. Under this objective the sports...

This study aims to explore how a firm's exposure to economic policy uncertainty (EPU) affects the use of fair value (FV) measurement for non-financial assets.The analysis focuses on the selection of FV models for different types of non-financial assets. It examines how internal factors and...

Valuing private enterprises - particularly early-stage firms - remains a significant challenge due to high variability and frequent overvaluation, often exceeding 50%. These inaccuracies undermine trust in the venture capital (VC) market and complicate investment decision-making. To address...

The environmental, climate and social due diligence procedures outline the European Investment Bank's approach to assessing, managing and monitoring the environmental, climate and social impacts and risks of its operations throughout the project cycle. They also clarify the respective roles and...

Introduction -- The no-arbitrage assumption and the dividend discount model -- Earnings-based valuation models and effects of conservatism -- Future earnings and the intrinsic value of equity -- Incorporate market information in valuation of individual firms and predicting returns -- Enterprise...

The proportion of exchange‐listed firms with negative earnings has increased to over 40% in recent years. Previous research shows that the valuation of these loss firms is comparably difficult due to their uncertain future earnings path. Given these valuation issues, we argue that the stocks...

In 2018, the International Accounting Standards Board (IASB) introduced International Financial Reporting Standard 9 (IFRS 9), which sets out principles for hedge accounting and replaces International Accounting Standard 39 (IAS 39). IFRS 9 aims to provide better information about companies'...

In the past few decades, companies have begun to pay attention to the issue of whether companies that are engaged in CSR activities enhance firm value remains a subject of debate. From the perspective of agency theory, high-CSR companies can encounter poor financial performance and a reduction...

This article presents a new methodological approach to value private equity investments based on simulation. The valuation relies on 'imperfect replication'. This method does not presuppose the perfection of the capital market and is essentially built on measuring the risk. The approach turns...

This study aims to assess the influence of natural hedging on firm value, incorporating the mediating role of financial derivatives and the moderating impact of macroeconomic variables. Employing partial least square structural equation modeling on data spanning 21,169 firm years (3050 firms)...

Corporate sustainability due diligence (CSDD) is needed in order to achieve a transition towards a green economy and deliver the UN Sustainable Development Goals. Therefore, the Commission proposed the Corporate Sustainability Due Diligence Directive (CSDDD) in 2019. In March 2024, the Council...

This study, commissioned by the European Parliament's Committee on Budgetary Control (CONT), investigates whether EU institutions implement human rights and sustainability due diligence when they purchase goods and services. Based on documentary analysis and interviews, this study finds that...

The literature are abound with studies on the impact of environmental, social, and governance (ESG) factors on a company's value, or more broadly, on its financial performance. However, most analyses concern developed markets, mainly because the largest rating agencies operate in these markets,...

Objective Due Diligence is considered an internal practice that analyzes and identifies the actual situation of an organization. Having a strategic relevance and impact on Mergers and Acquisitions, it provides a solid foundation for the final decision or negotiation. Given this relevance, it is...

Changes in the accounting principles caused by changing business conditions, economic development, rising living standards, emergence of new needs and scientific and technological progress create an urgent need to reflect and value intellectual assets of enterprises in accounting. The purpose of...