Essays about: "Accounting-based valuation"
Showing result 1 - 5 of 11 essays containing the words Accounting-based valuation.
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1. The Missing Ingredient: How to improve value investing in the information age
University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansieringAbstract : This thesis aims to inform a value investing strategy in specific niches of European firms by adjusting the book-to-market (B/M) ratio for intangible assets. An increase in intangible assets' importance for corporate value creation coupled with a lack of amendments to their accounting treatment has led to debates on the value relevance and accuracy of accounting information, including the B/M ratio used to derive value premiums. READ MORE
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2. Accounting for the Measurement Bias: A Study of Market Efficiency in the United States and the Relevance of Extensive Fundamental Analysis in Equity Valuation
University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansieringAbstract : This thesis investigates abnormal returns over the period 1983-2021 from an investment strategy that is based on public accounting information. Investment positions are taken in US manufacturing firms and are held for 36 months using a self-financing (hedged) portfolio. READ MORE
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3. Improving Pricing Accuracy of the Abnormal Earnings Growth Model - Does a Fade-Away Factor Do the Trick?
University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansieringAbstract : In this thesis, we examine whether the pricing accuracy of the parsimonious AEG model can be improved when industry-specific fade-away factors of AEG are acknowledged in the model. In order to answer this question, the study uses three different methods, namely a simple linear regression, a graph analysis, and a calculation of implied fade-away factors, to derive industry-specific patterns. READ MORE
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4. Bankruptcy Risk and Market Rationality During Covid-19: Swedish Evidence
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi; Handelshögskolan i Stockholm/Institutionen för redovisning och finansieringAbstract : Purpose: To examine the changes in bankruptcy risk that occurred during the beginning of the Covid-19 pandemic for companies listed on Nasdaq Stockholm, and to test market rationality regarding i) the changes in bankruptcy risk, ii) the equity risk premium associated with bankruptcy risk in the 1-year period after the market trough. Method: Bankruptcy risk is estimated with the Skogsvik (1990) model and a bankruptcy risk calibrated Residual Income Valuation model. READ MORE
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5. The Evolution of Swedish Private Equity Portfolio Companies: An Accounting-Based Performance and Valuation Approach
University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansieringAbstract : This study provides a comprehensive overview of operating and financial performance, bankruptcy risk, and accounting conservatism in 95 Swedish portfolio companies acquired by Private Equity (PE) firms between 2001 and 2015. It further investigates whether equity value is created on a Swedish portfolio company level. READ MORE
