Essays about: "Market-to-Book-Value"

Showing result 1 - 5 of 9 essays containing the word Market-to-Book-Value.

1. 1. Impact of Intellectual Capital on Firm Performance and Market to Book Value - An analysis of the extended VAICTM model on Swedish listed firms within the healthcare sector

   University essay from Göteborgs universitet/Graduate School

   Author : Sang Hoon Sohn; Linus Åhman; [2020-07-01]
   Keywords : Intellectual capital; VAICTM; Firm performance; Market to book value; Swedish healthcare sector;

   Abstract : The purpose of this thesis is to research whether IC and the individual components of IC in firms, namely the relational capital, structural capital, innovation capital and human capital, contribute to an increase in financial performance and positive market reaction for listed Swedish healthcare firms listed in Stockholm OMX30 with a time-frame of 10 years from 2009 to 2018. An extended VAICTM model developed from the original VAICTM model proposed by Pulic is used as a proxy for efficient IC usage and a fixed effects regression is performed on the explanatory variables representing firm performance and market perception. READ MORE

3. 2. Systemic risk and bank equity valuation: A study of the market-to-book value and government guarantees

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Camilla Nydahl; Emma Rydén; [2019]
   Keywords : Government guarantees; Banks; Market-to-book value; Systemic risk; Financial crisis;

   Abstract : In previous research, it has been argued that a link exists between the equity valuation of a bank and its tail risk. The relationship has been attributed to government guarantees and how they create a synthetically low cost of debt, which increases the incentive to take on risk. READ MORE

4. 3. Systemic risk and the market-to-book value of banks' equity

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Florian Moritz Meier; Yuqing Meng; [2018]
   Keywords : Banks; Financial Crisis; Government Guarantees; Market-to-book Value; Risk;

   Abstract : The goal of this thesis is to investigate whether market participants considered possible government guarantees when valuing banks' equity before the recent financial crisis and to what extent the market value of banks' equity is useful to estimate their exposure to systemic risk. Using a theoretical approach, we first present our argument that anticipated government guarantees in case of a systemic breakdown lead to financing costs of debt being independent from a bank's exposure to systemic risk. READ MORE

5. 4. The Implications of Earnouts - A Study on the Swedish M&A Market

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Ning Wang; Laura Lindberg; [2018]
   Keywords : Earnouts; Sweden; M A; PSM; CAR;

   Abstract : In this thesis, we study the effects of earnouts in the Swedish M&A market. We focus on transactions in which public bidders acquire private targets. Propensity score matching (PSM) is used to reduce the potential problems related to random sampling. READ MORE

6. 5. Why would firms choose dividends over share repurchases?

   University essay from Lunds universitet/Nationalekonomiska institutionen

   Author : Emma Jansson; Chonnikarn Janesiripanich; [2018]
   Keywords : Dividend; Share repurchase; Firm value; Panel data; Business and Economics;

   Abstract : This study investigates the relationship between the two different payout policies, dividends and share repurchases, and firm value in the Swedish market. We aim to clarify how the lack of difference in taxation of dividends and capital gains in Sweden affects investors’ preferences for different payout policies and whether a certain payout policy incentivizes investor to pay extra for a firm that applies this policy. READ MORE