2,801 research outputs found
Fair value measurement by listed private equity funds: Do they capture the fundamentals of investee companies?
No full textWe examine whether reported fair values of individual investment assets held by listed private equity (LPE) funds reflect the economic fundamentals of the investees. We exploit the requirement for private companies in the UK to file financial statements. Under the assumption that company financial statements capture relevant information about economic fundamentals, we examine the extent to which the fair value measurements of individual investments recognised and disclosed by LPE funds reflect the fundamentals of investees.
Taken together, our results suggest that Level 1 and Level 3 assets reported by LPE funds reflect the financial statement information reported by investees, but to different degrees. Further, our evidence suggests that investors in LPE funds do not discount the discretion used by the LPE funds when valuing investees. Our results suggest that in fair value measurement LPE fund managers use information extending beyond the book value and net income of investee companies, and that the resulting fair value measurements are seen as credible by investors in LPE funds
Implications of Operating Income and Analyst Street Earnings for Future Profitability and Equity Valuation
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Recording of interview with Wayne Muller
No full textMuller is an author, psychotherapist and minister living in Fairfax, CA. Muller met Nouwen as a student at Harvard Divinity School (Cambridge, MA) from 1982-1985; Muller took Nouwen's Introduction to the Spiritual Life course in the Spring semester of 1983.1 audio cassette (1 hr., 30 mins.)Title based on contents of the item. ; Reference copies of the audio cassettes are available (located with originals). ; Located in audio cassettes box 13. ; No reproduction of this material without permission of the Archivist. ; The interview has been transcribed and is available electronically and in hard copy. ; Digitized February 3, 2011.For more information please contact Special Collections, the University of St. Michael's College.Item consists of one audio cassette (SR2007 66 66 53) of an interview with Wayne Muller conducted by Sue Mosteller, csj on October 31, 2004 at the San Damiano Retreat Centre in Danville, CA. Themes present in Muller's interview include death, grief, Buddhism, fundamentalism and Nouwen's legacy
Wayne Sawchuk Photography
No full textWayne Sawchuk is an photographer, conservationist, and author. Wayne Sawchuk's cameras are constant companions on his long journeys through northeast British Columbia's Muskwa-Kechika wilderness area. His photos reflect his broad diversity of wildlife and wilderness subjects, and have been widely published in Canadian Geographic, Beautiful BC, The National Post, Explorer Magazine and BC Oudoors, among others
Implications of Components of Income Excluded from Pro Forma Earnings for Future Profitability and Equity Valuation
No full textThis study addresses three research questions relating to total exclusions, special items, and other exclusions. Are each of these pro forma exclusion components forecasting irrelevant? Are each of the exclusion components value irrelevant? Are the valuation multiples on the exclusion components justified by their ability to forecast future profitability as predicted by the Ohlson (1999) model? Findings are generally consistent with the market-inefficiency results presented in Doyle et al. (2003) . Total exclusions are valued negatively by the market despite the prediction that total exclusions will be valued positively. Valuation results also suggest that stocks with positive other exclusions are overpriced. Copyright 2007 The Authors Journal compilation (c) 2007 Blackwell Publishing Ltd.
In researching the history of rum and rum cocktails, author Wayne Curtis bought
No full textIn researching the history of rum and rum cocktails, author Wayne Curtis bought an out-of-print copy of Trader Vic\u27s Book of Food & Drink that once belonged to Maine author Kenneth Roberts (1885-1957). On a blank page, Curtis discovered Roberts\u27 well-crafted description of inventing a recipe, with scratched out and recast words
Implications of Components of Income excluded from Pro Forma Earnings for Future Profitability and Equity Valuation
No full textThe Valuation Implications of Employee Stock Option Accounting for Profitable Computer Software Firms
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