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Equity Performance, Leverage and Overinvestment

Equity Performance, Leverage and Overinvestment

31992760
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Описание
This book discusses the relationship between equity performance, overinvestment and leverage for UK and US markets. This book shows that the Residual Income Model outperforms other valuation models such as the Discounted Cash Flows models. Further, this book introduces a simple way of measuring the overinvestment problem. Moreover, this book explains the non-linearity relationship between leverage and overinvestment and concludes that leverage, at a moderate level, can discipline managers and mitigate the overinvestment problem.
The measurement of equity performance and its impact on the relationship between leverage and overinvestment