...Matthew R. Lyle ABSTRACT This paper provides an accounting-based valuation model that predicts that cross-sectional variation in firm-level returns to investments in both stock and stock return volatility are related to cross-sectional variation in firm-level fundamentals. The model predicts...

..., USA. Editor's note: Accepted by Daniel J. Taylor, under the Senior Editorship of Mary E. Barth. 1 10 2019 1 11 2020 2021 fundamental analysis portfolio optimization fundamentals-based expected returns valuation modeling Fundamental analysis uses fundamentals...

..., Columbia Business School, Department of Accounting, New York, NY, USA. Supplemental material can be accessed by clicking the link in Appendix B. Editor's note: Accepted by Thomas Hemmer, under the Senior Editorship of Mark L. DeFond. 1 2017 12 2019 2020 valuation real...

...Steven E. Kaplan; David G. Kenchington; Brian S. Wenzel ABSTRACT Research documents that firms shift operating expenses into income-decreasing, but not income-increasing, discontinued operations. We argue that valuation considerations explain this asymmetric result, as acquirers are likely...

... 2020 related-party transactions disclosure regulation real consequences implied cost of capital corporate governance RPT governance SEC valuation The SEC's mandatory requirement on RPT governance reflects the continuous efforts of the SEC to encourage firms to provide more transparent...

...Sunil Dutta; Panos N. Patatoukas ABSTRACT Using a financial reporting and valuation model, we investigate the construct validity of Basu's (1997) asymmetric timeliness (AT) regression coefficient as a measure of conditional conservatism in corporate financial reporting. We predict...

... investment signaling valuation external financing Despite a large literature on discretionary accruals and earnings management, there is little analysis of how discretionary accruals impact corporate financial decisions. We hypothesize and test whether a firm's strategic...

... judgments of reliability. Our findings are important because inappropriate assessments of relevance can influence firm valuation. The results are particularly meaningful in the context of fair value because such measurements can vary widely in reliability. JEL Classifications: M41. Relevance...