Finance Theory and Financial Strategy

TL;DR: In this paper, the authors proposed a cointegration model to test both hypotheses in an integrated framework in order to provide better insight into the dividend and earning relation, and the results of t-test and logistic regression show that the presence of co-integration is positively related to the degree of information asymmetry, a result consistent with the dividend signaling hypothesis.

TL;DR: In this article, real options are applied to the valuation of investment opportunities in commercial companies, especially in the area of biotechnology, and the authors explain how real options provide various perspectives on the project (investment) value in relation to situations in which the project is: delayed, expanded, abandoned, business is contracted, operations are switched, products with multiple applications are grown, and optimal date for the product launch is determined.

TL;DR: In den letten Jahren hat sich in den Vereinigten Staaten eine neue Doktrin herauskristallisiert as discussed by the authors.

TL;DR: In this article, an appropriate Real Options (RO) model was used in the evaluation of Portuguese firm Semapa, after Cimpor's acquisition and try to determine the shareholders' wealth increment, given the Acquisition Public Offer terms and the assumed interrelationships.