Essays about: "Equity valuation"

Showing result 16 - 20 of 121 essays containing the words Equity valuation.

1. 16. How do equity carve-outs create value? An investigation from three perspectives

   University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

   Author : Johan Gunnarsson; Rebecca Gustafsson; [2021]
   Keywords : Equity carve-out; Value creation; Divestiture; Diversification;

   Abstract : In this study, we investigate the value creation from equity carve-outs from the perspectives of the asymmetric information hypothesis, the divestiture gains hypothesis and the heterogeneous beliefs hypothesis. We examine the corporate impact of undertaking a carve-out decision on operational performance and valuation levels for parent and subsidiary firms. READ MORE

3. 17. Standing Selfish and Grand? - A study of private equity impact on IPO valuation

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Alfons Rosendahl Jagut; Vilhelm Sandberg; [2021]
   Keywords : Initial Public Offering; Private Equity; Underpricing; Certification; Grandstanding;

   Abstract : The conflicting effects of private equity certification and grandstanding in relation to IPO underpricing has been disputed since the 1990's. Using a sample of 334 IPOs on six Swedish trading platforms, applying a Tobin's Q value relative as an alternative to first-day returns, this thesis finds differences in valuations between private equity and non-private equity backed IPOs. READ MORE

4. 18. DOES IT PAY TO BE ESG? : An empirical analysis of sustainability in the Nordic countries from a risk and valuation perspective

   University essay from Umeå universitet/Företagsekonomi

   Author : Corentin Arnou; Marcus Hammarstedt; [2021]
   Keywords : ESG; Cost of equity; Sustainable finance; Price-to-earnings ratio; Price-to-book ratio; Enterprise value to earnings before interest and taxes ratio; Covid-19; Shareholder’s theory; Stakeholder’s theory; Information asymmetry;

   Abstract : In the field of sustainable finance, Environmental-, Social- and Governance-ratings (ESG) have become an acknowledged measurement of a firm's sustainability performance. The increased awareness of sustainability issues in today's society is undeniable. READ MORE

5. 19. 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 finansiering

   Author : Leo Allebeck; Andre Lagerkvist; [2021]
   Keywords : Bankruptcy risk; Market rationality; Covid-19; Residual income valuation; Accounting based bankruptcy prediction;

   Abstract : 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

6. 20. Would You Rather Laugh with the Sinners than Cry with the Saints?

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Gustav Nilsson; Marcus Undén; [2021]
   Keywords : Sin Stocks; Social Norms; SRI; ESG; Institutional Ownership;

   Abstract : This thesis provides new evidence on social norms' impact on capital markets through the lens of the Swedish stock market and sheds new light on ownership structure, analyst coverage, valuation and financing decisions of vice companies - companies involved in sinful industries, including gambling, tobacco and alcohol - as well as its implication for stock returns. We show that sin stocks are neglected by institutions and have lower sell-side analyst coverage, thus sin stocks indicatively face less liquid equity markets than comparable stocks. READ MORE