Investor response to cash flow information

Article Abstract:

A study was conducted to examine the effects on security pricing and on the entire security market of cash flow disclosure which is practised in the UK as dictated by government regulations. Earnings-returns models were utilized to investigate the cash flows of 1000 largest industrial companies which were recorded in the London Stock Exchange. Results revealed that the disaggregation of the cash flow was irrelevant to the improvement of information content and it did not reveal incremental information about cash flow variables.

Cash Management, Cash flow

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International diversification and firm value

Article Abstract:

The most significant issue confronting scholars focused on multinational financial management research could be the value of worldwide expansion. Empirical studies have not furnished reliable evidence and theoretical studies have not generated any firm conclusions on this subject, however. A study contributes to this research topic by using a valuation model to directly address the valuation effect of global expansion and testing for the valuation effects of particular types of international diversification.

Multinational Corporations, Diversification Analysis, Diversified companies, International aspects, International business enterprises, Business planning, Diversification in industry, Industrial diversification, Corporate growth

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The term structure of implicit discount rates in security valuation

Article Abstract:

A study is conducted using residual income model to study the implicit discount rates in security valuation, in United Kingdom. The study reveals that there is no fixed terms structure for the discount rates.

United Kingdom, Usage, Securities, Discount rates

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