haku: @author Buskirk, A. Van / yhteensä: 3
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| Tekijä: | Core, J. E. Guay, W. R. Buskirk, A. van |
| Otsikko: | Market valuations in the new economy: an investigation of what has changed |
| Lehti: | Journal of Accounting & Economics
2003 : JAN, VOL. 34:1-3, p. 43-67 |
| Asiasana: | Capital markets Stock markets Asset valuation New economy |
| Vapaa asiasana: | Equity valuation |
| Kieli: | eng |
| Tiivistelmä: | The authors find mixed support for the hypothesis that a "New Economy" subperiod occured in the late 1990s in which the relation between equity value and traditional variables differs from previous periods. They examine a regression model of equity value on financial variables over 25 years for a broad firm sample and for firm subsamples though to be emblematic of the New Economy. It is found that the regression model's explanatory power declined in the New Economy subperiod for all firm subsamples. However, for all subsamples, the regression model's structure during the New Economy subperiod is not unusual compared to other subperiods. |
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