Framework: Financial Technology (FinTech) is an industry composed of diversified firms that
combine financial services with innovative technologies. The research question and main …

This paper compares the impact of market multiples on stock returns between emerging
(ASEAN) and developed (European) financial markets. A t-test, fixed effects, and GMM are …

We investigate how a firm's positioning relative to category exemplars shapes security
analysts' evaluations. Using a two-stage model of evaluation (initial screening and …

Under accounting principles, the recognition of earnings is path‐dependent and the path
depends on risk and its resolution: under the so‐called realization principle, earnings are …

Purpose Surprisingly little is known of the various methods of security analysis used by
financial analysts with industry-specific knowledge. Financial analysts' industry knowledge is …

The use of industry as a criterion for selecting peers for multiples-based valuation rests on
the notion that companies operating in the same industry are more likely to share …

A literature review suggests eight empirical implementation issues to which practitioners
should give increased attention. Implementation issues include how comparable firms are …

We test predictions that managers issuing voluntary capex guidance learn from analyst
feedback and that this learning enhances investment efficiency and firm performance. Our …

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 …