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This volume focuses on recent pricing puzzles in investments. The valuation of Internet companies, effects of firm size in takeover studies, and long-run performance of mergers in the telecommunications industry are all seen as riddles for the Efficient Markets Hypothesis. Explanations may be found in studies of the effects of differences in investor risk/return preferences, information and liquidity. Also featured are studies describing recent innovations in corporate finance, such as an experimental study of discount rates, an analysis of issues related to the estimation of internal cash flows, corporate payout policy, and the use of convertible and warrant bonds by Japanese firms.
Price: $184.99
Pages: 220
Publisher: Emerald Group Publishing Limited
Imprint: JAI Press Inc.
Series: Advances in Financial Economics
Publication Date:
09 August 2002
ISBN: 9780762308972
Format: Hardcover
BISACs:
BUSINESS & ECONOMICS / Investments & Securities / General, Investment & securities, Corporate finance
Valuation of internet companies: a survey of the evidence (P.Jansen, E. Perotti). Decisions in financial economics: an experimental study of discount rates (U. Benzion, J. Yagil). Institutional ownership, information, and liquidity (W.W. Jennings, K. Schnatterly, P.J. Seguin). Internal cash flows and corporate investment decisions (R. Aggarwal, S. Zong). Preferences on relative return: a potential explanation for some pricing anomalies (B. Lauterbach, H. Reisman). Capital market efficiency and its implications for the investor: a case of a superior product mismarketed (J.F. Gaski). How different is the long-run performance of mergers in the telecommunications industry? (S.P. Ferris, K. Park). Takeover studies: take note of the size and age of firms in your sample (V. Gondhalekar). Dividend smoothing and the cross-sectional determinants of corporate payout policy (G.S. Bhabra, J. Jeong, J.G. Powell). The usage of convertible and warrant bonds by Japanese firms: risk-shifting or the delayed issuance of equity? (S.P. Ferris et al.).