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Showing result 1 - 5 of 17 swedish dissertations matching the above criteria.
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1. Valuation Relevance : The use of Information and Choice of Method in Equity Valuation
Abstract : This thesis is concerned with exploring the equity market price discovery process, the translation and incorporation of new information into stock prices, by studying both what information is included in this process and which valuation methods are used to translate that information into a value.The overarching research question posed in this thesis is: How is equity valued? The overarching question is broad and has been divided into the following sub questions:What valuation methods do companies use when valuing takeover targets?What valuation methods do sell-side analysts use when valuing equity?What factors explain the variation in the use of valuation methods by sell-side analysts?To what extent do sell-side analysts utilize non-financial information in their reports?These questions are addressed in four separate essays. READ MORE
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2. The theory of Homo comperiens, the firm’s market price, and the implication for a firm’s profitability
Abstract : This thesis proposes a theory of inefficient markets that uses limited rational choice as a central trait and I call it the theory of Homo comperiens. The theory limits the alternatives and states that the subjects are aware of and only allow them to have rational preference relations on the limited action set and state set, i.e. READ MORE
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3. Essays on Information Disclosure : Content, Consequence and Relevance
Abstract : This thesis provides new insight into the information environments of Initial Public Offerings (IPOs) and analysts’ equity reports. The thesis consists of four essays that address the issues of firm disclosure and the relevance of information for analysts and investors in the capital market. READ MORE
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4. On cash flow valuation
Abstract : A fundamental fact in finance and economics is that moneyhas a time value, meaning that if we want to value an amount ofmoney we get at some future date we should discount the amountfrom the future date back to today. When facing a stream ofcash flows occurring at di®erent times we discount each ofthe cash flows using suitable discount rates and then sum thecontributions. READ MORE
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5. On the Value of Customer Loyalty Programs - A Study of Point Programs and Switching Costs
Abstract : The increased prevalence of customer loyalty programs has been followed by an increased academic interest in schemes. This is partly because the Internet has made competition 'one click away'. It is also because information technology has made it more economical for firms to collect customer information by way of loyalty programs. READ MORE