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Full-Text Articles in Business
Estimating The Cost Of Equity In Emerging Markets: A Case Study, Benoit Boyer, Ralph Lim, Bridget M. Lyons
Estimating The Cost Of Equity In Emerging Markets: A Case Study, Benoit Boyer, Ralph Lim, Bridget M. Lyons
WCBT Faculty Publications
A firm's weighted average cost of capital is an integral component in capital budgeting decisions and in assessment of the firm's enterprise and equity value. Estimation of the cost of equity is a key component in determining the overall cost of capital. The calculation of the cost of equity for U.S. based corporations is relatively straightforward and is most often estimated as a function of the U.S. risk-free rate, the firm's beta value, and an estimate of the average risk premium associated with equity investments compared to risk free assets. Since U.S. financial markets are fairly liquid and reasonably efficient, …
Restatement Vs Revision: A Case Study, Benoit Boyer, Danny A. Pannese, Alan L. Delfavero
Restatement Vs Revision: A Case Study, Benoit Boyer, Danny A. Pannese, Alan L. Delfavero
WCBT Faculty Publications
There had been many recent cases of restatements of financial statements by US Corporations. Recently an article in the Wall Street Journal mentioned restatements by Bank of America, Nike and Alphabet among the 663 companies that filed financial revisions or restatements last year. Interestingly the frequency of these errors has more than doubled since 2002, when the Sarbanes-Oxley corporate governance law was enacted, partly to increase managerial accountability. We will also examine what are the differences between restatements and revisions. We will examine what are the most common mistakes. Over half of last year's corrections involved debt and equity, cash …