Essays about: "Market-to-Book"

Showing result 11 - 15 of 45 essays containing the word Market-to-Book.

  1. 11. Stock Valuation, Dividends and Learning Through Age: how learning about a firm and its dividend policy affects its valuation

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Yousef Kaddoura; Marius Rrapushaj; [2018]
    Keywords : Market-to-Book Ratio; Firm value; Learning effects; Dividends; Uncertainty; Over optimism; Fama-MacBeth.; Business and Economics;

    Abstract : This paper looks into how learning about firms and their dividend policy affects their valuation, while comparing the results between North American and German firms. Learning is observed through the age of a firm,where the market-to-book ratio (M/B) is predicted to decline over a firm’s lifespan. READ MORE

  3. 12. 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

  4. 13. Controversial Industries: does it pay to ignore social norms?

    University essay from Uppsala universitet/Företagsekonomiska institutionen

    Author : M.R.T.M. van Nuenen; [2018]
    Keywords : Sin stocks; Controversial Industries; Social norms; Fama-French Five-Factor Model; Carhart Model; Bet against Beta factor;

    Abstract : This paper investigates the impact of social norms on the performance and valuation of “controversial stocks”- publicly traded companies involved in the production of Adult Entertainment, Alcohol, Gambling, Nuclear Energy, Tobacco, Uranium, and Weapons. Their performance and valuation is directly compared with compare non-controversial stocks. READ MORE

  5. 14. What determines the differences in idiosyncratic volatility between Swedish firms and comparable European firms?

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Jesper Swanson; Linus Lindberg; [2018]
    Keywords : Total volatility; systematic volatility; idiosyncratic volatility; Fama-French three-factor model; propensity score matching; Business and Economics;

    Abstract : Firms’ stock return volatility varies across countries, and the factors driving the volatility can contribute both positively and negatively to economic growth. We show that across 3,673 firms during the time interval 2001 to 2016, stocks of Swedish firms have on average lower volatility compared to stocks of foreign European firms of similar size, age, and market-to-book value. READ MORE

  6. 15. Risky Business - Modelling Distress on the Swedish Market

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Johanna Hallstedt; Kajsa Öström; [2018]
    Keywords : Distress risk; credit ratings; ordered probit model; distress risk premium; Nasdaq Stockholm; Business and Economics;

    Abstract : Financial distress is costly for a company and affects many stakeholders. Although models of distress and default have been constructed and developed by researchers for a long time, a model adapted to the unique characteristics of the Swedish market is still missing. READ MORE