Search Results - subject_exact:"Unternehmensbewertung"

Innovation, technology standardization and the value of the firm

Bergeaud, Antonin; Schmidt, Julia; Zago, Riccardo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015618403

Why do family firms hold cash? : agency conflicts and valuation perspectives

Tayem, Ghada; Abu Ghunmi, Diana; Bino, Adel; Tayeh, Mohammad - 2026

This study aims to examine whether family firms differ from nonfamily firms in their propensity to save cash, particularly in response to new investment opportunities, and to assess how investors value the cash holdings of family versus nonfamily firms in light of potential agency concerns. The...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611266

From risk to returns : an analysis of asset quality, financial ratios, and market valuation in Indian banks

Rosario, Shireen; Mavuri, Sudha - 2026

This study investigates the interplay between asset quality, financial ratios, and market valuation in Indian commercial banks over a twelve-year period (2014-2025). Using a hybrid approach combining Structural Equation Modeling, correlation analysis, and trend evaluation, the research examines...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611330

Equity crowdfunding success in Malaysia : the role of crowd investors, campaign disclosure and valuation disclosure

Lo, Jun Heng; You, Hui Wei; Usman, Sardar Muhammad; … - 2026

This study examines the determinants of equity crowdfunding (ECF) campaign success in Malaysia through the lens of quality signaling theory and behavioral herding dynamics. Using a manually collected dataset of 335 completed campaigns launched on pitchIN, MyStartr, and AtaPlus between 2016 and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628757

Due diligence on recycling processes in the garment and footwear sector

2026

This paper supports companies in identifying and addressing responsible business conduct risks and impacts in recycling processes in the garment and footwear sector. It provides important due diligence considerations for companies introducing circular products or transitioning to circular...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015629454

National institutions, transparency and accounting for goodwill : impairment recognition under IFRS in Europe

Fujiyama, Keishi; Gray, Sidney J. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639227

Closed-form valuation of discounted cash flows with finite poisson arrivals in a finite horizon

Kitamura, Yuto; Kudo, Yuta; Shimoshimizu, Makoto; Goto, … - 2026

This paper derives a closed-form expression for the expected discounted value of aggregate cash flows when arrival times follow a Poisson process but both the time horizon and the number of arrivals are finite. The result provides a tractable analytical formula for the expected discounted sum...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015640331

A macroeconomic perspective on stock market valuation ratios

Atkeson, Andy; Heathcote, Jonathan; Perri, Fabrizio - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015618230

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A macroeconomic perspective on stock market valuation ratios

Atkeson, Andrew; Heathcote, Jonathan; Perri, Fabrizio - 2026

Book / Working Paper

Bank valuation and macroprudential capital buffers

Cuijpers, Eric - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668638

Value creation thinking in M&A : the importance of counterfactual thinking

Massa, Massimo; Van der Heyden, Ludo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015667770

Impact of geographic dispersion of carbon emissions on firm valuation

Gonenc, Halit; Maassen, Chiel - 2026

The transition towards a net-zero economy faces a finite timeline, which increases the level of carbon-transition risk for companies with high pollution levels. Firms that voluntarily disclose a comprehensive breakdown of their carbon emissions across various geographic regions may signal carbon...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668241

The role of valuation report contents in shaping Post-IPO share price performance

Öztürk, Selahattin Çağatay; Sayilgan, Güven - 2026

This study explores the effect of information associated with valuation reports before initial public offerings (IPOs) on post-IPO share price performance. Our results provide valuable insights for Türkiye as well as other emerging markets around the world. In addition, the comprehensive data...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015664913

Industry-specific equity valuation practices : evidence from South African equity research reports

Moyo, Vusani; Kayiira, Joseph; Obadire, Ayodeji Michael - 2026

Valuation methodologies vary across industries because firms differ in capital intensity, asset life, earnings stability, and exposure to risk. This study examines the valuation approaches used by South African equity analysts across the diversified mining, platinum group metals mining, gold...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676655

Equity valuation without DCF

Cho, Thummim; Polk, Christopher; Rogers, Robert - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016060053

The role of trademarks in going public

Drivas, Kyriakos; Economidou, Claire; Gounopoulos, Dimitrios - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016064274

Formal harmonization, persistent accounting uncertainty : practitioner evidence on crypto-asset valuation after MiCA in slovakia

Škoda, Miroslav; Guzoňová, Viera - 2026

The Markets in Crypto-Assets Regulation (MiCA) harmonizes market rules across the European Union, but it does not itself determine how entities should classify, measure, document, and tax crypto-asset transactions. This study examines whether Slovakia's recent implementation measures have...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016064361

AI Premium

Borri, Nicola; Liu, Yukun; Tsyvinski, Aleh - 2026

Using 380 trillion tokens of realized AI consumption across more than four hundred large language models from the licensed proprietary OpenRouter dataset covering approximately 2 percent of current global monthly AI token consumption, we analyze how AI affects firms, markets, and workers....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063247

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AI premium

Borri, Nicola; Liu, Yukun; Tsyvinski, Aleh - 2026

Book / Working Paper

The max EPS Paradigm for Corporate Finance

Ben-David, Itzhak; Chinco, Alex - 2026

There are three classic problems in corporate finance: capital structure, real investment, and payout policy. In three companion papers, we characterize the max EPS solution to each one. The max EPS approach delivers an optimal leverage ratio even in the absence of frictions, an investment rule...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626300

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The max EPS paradigm for corporate finance

Ben-David, Itzhak; Chinco, Alex - 2026

Book / Working Paper

Cross-border discounted cash flow valuation

Dierkes, Stefan; Maeyer, Imke de - 2026

In cross-border discounted cash flow (DCF) valuation, theorists and practitioners face more problems than in national valuation. Although it is indicated in the literature that the value of a firm is independent of the used currency, it is ambiguous whether spot or forward exchange rates should...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016069879

Markets versus managers : valuation informativeness in public and private equity

Baik, Brian K.; Hillenbrand, Sebastian - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016091090

Minority compensation and discount rate practice : evidence from 223 Czech squeeze-outs (2005-2024)

Podškubka, Tomáš - 2026

Analyzing 223 Czech squeeze-out valuation reports from 2005-2024, this study examines discount rate construction as a governance mechanism influencing minority compensation. We document the persistent dominance of the CAPM model, a shift toward domestic risk-free anchors, and evolving practices...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016093176

Bringing ownership in : a conjunctural approach to venture capital valuations

Peters, Nils - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016081967

Value-enhancing drivers of corporate governance in improving human rights due diligence : worldwide evidence

Torelli, Riccardo; Fiandrino, Simona; Scarpa, Francesco - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015333321

Impact of firm-level climate change exposure on firm value : the moderating role of carbon transparency

Jin, Shan; Gan, Christopher; Li, Zhaohua - 2025

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...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015337409

Debt capital and dividend policy as complementary indicators of firm valuation

Njoku, Okechukwu Enyeribe; Lee, Young Hwan - 2025

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...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015338351

Coming full circle on cash holdings and firm value : a comment on Kim and Bettis (2014), Theissen et al. (2023), and Souder et al. (2024)

Jung, Christopher; Graf-Vlachy, Lorenz - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015195719

Tobin's Q and shareholder value : does "shareholder return" impede investment?

Piluso, Nicolas - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015358755

Valuation of the EQ-5D-3L in Jordan

Al Rabayah, Abeer; Roudijk, Bram; Purba, Fredrick Dermawan - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015394760

The resilient power of CSR : sustained risk reduction despite widespread ESG adoption

Merladet, Jorge; Lumbreras, Sara; Ramos, Andrés - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015420437

AI competition and firm value : evidence from DeepSeek's disruption

Yang, Xing - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015422878

Corporate governance level, financial robustness, and goodwill bubbles

Che, Weina; Jia, Haoyi - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015463186

Economic policy uncertainty exposure and the valuation of non-financial assets : an analysis of Australian listed firms

Liu, Chang; Hu, Fang; Yao, Daifei; Li, Bin - 2025

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...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015467552

Valuation specialist, earnings persistent and Level 3 fair value measurements

Bu, Chen; Zhang, Yuyu; Yao, Daifei - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015467959

Do ESG factors influence firm valuations? : evidence from the field

Bancel, Franck; Glavas, Dejan; Karolyi, G. Andrew - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015470985

Impact of environment, social, and governance pillars on firm value in oil and gas sector

Adiwardhana, Gusman; Rahmawati; Sangka, Khresna Bayu; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015472235

The value of bank lending

Flanagan, Thomas - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015474336

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The Value of Bank Lending

Flanagan, Thomas - 2022

Book / Working Paper

Valuation and long-term growth expectations

Tengulov, Angel; Zechner, Josef; Zwiebel, Jeffrey - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015451391

Corporate sustainability reporting : shifting from optional due diligence to mandatory duty

Leite, Emilene; Koporcic, Nikolina; Markovic, Stefan - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015453517

Do investors value the acquirers' complexity in a merger and acquisition?

Pan, Ying; Mai, Ngoc Thuy; Nguyen Nhut Vu Truong; Bui, … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015454399

Shaping collective action in financial markets through popular expertise : an analysis of Due Diligence posts on WallStreetBets

Gendron, Yves; Madelaine, Alexandre; Paugam, Luc; … - 2025 - This version: October 17, 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015409708

Size premium in small business valuation : analysis of closely-held firms

Galbraith, Craig S. - 2025

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...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015411679

The impact of audit fees and auditor tenure on company valuation : an analysis of large US audit firms

Santos-Jaén, José Manuel; Valls Martínez, María del … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015435559

The valuation of copies for Chinese artworks

Oosterlinck, Kim; Radermecker, Anne-Sophie; Song, Yuqing - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015439465

A comprehensive analysis of the decline in the market-to-book ratio of European banks

Markoulis, S.; Martzoukos, Spiros A.; Savvas, S.; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015455787

Comparing the value of natural capital in South Australian farmland using market sales and assessed valuation

Mannaf, Maksuda; Wheeler, Sarah; Zuo, Alec - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015458278

Is corporate social responsibility a must or a plus? : The role of national culture

Wang, Liu; Li, Shaomin - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015459648

Environmental reporting, financial fundamentals and company valuation : insights from the industrial sector

Dumitrescu, Dan Gabriel; Curea, Ştefania-Cristina; … - 2025

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...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015461391

Estimating the fundamental value of sports clubs and stadia : application to Panathinaikos FC and Leoforos

Bertsatos, Georgios; Sapountzoglou, Gerassimos - 2025

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...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015441794

The impact of environmental, social, and governance disclosure on the firm value of non-financial firms listed in South Africa

Msomi, Thabiso Sthembiso; Aruwaji, Michael Akinola; … - 2025

This study examines the impact of Environmental, Social, and Governance (ESG) disclosures on the firm valuation of non-financial firms listed in South Africa, using Tobin's Q as a firm value proxy. Using a panel data approach of 642 firm-year observations from 2017 to 2022, the study applies...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015561618

Target zones on firm's value

Marzo, Massimiliano - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015562324