We investigate whether large language models (LLMs) can successfully perform financial
statement analysis in a way similar to a professional human analyst. We provide …

Economists broadly define financial asset price bubbles as episodes in which prices rise
with notable rapidity and depart from historically established asset valuation multiples and …

For valuation of equity securities and similar objects research has not been rigorous and
holistic. This paper is an attempt to review the literature on valuation of equity for a variety of …

Stock-based compensation (SBC) reduces the value of shareholder equity, ceteris paribus,
and is a significant and growing expense for many firms. Despite its valuation implications …

All of asset-pricing theory currently stems from one key assumption: price equals expected
discounted payoff. And much of what we think we know about discount rates comes from …

We explore a large sample of analysts' estimates of the cost of equity capital (CoE) to
evaluate their usefulness as expected return proxies (ERP). We find that the CoE estimates …

This monograph provides a thorough review of earnings quality issues and analysis. Its
primary objectives are to help gain a deep understanding of earnings quality and facilitate …

This article examines the evolution of Delaware appraisal litigation and concludes that
recent precedents have created a satisfactory framework in which the remedy is most …

Accounting theory and accounting researchers stress the importance of clean surplus
accounting and comprehensive income to corporate valuation. However, casual observation …

This paper examines which valuation approaches financial analysts use to value a company
and whether the chosen valuation approach affects the target price accuracy. To address …