Blar i Discussion papers (FOR) på forfatter "Stecher, Jack Douglas"
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The nonequivalence of the earnings and dividends approaches to equity valuation
Stecher, Jack Douglas (Discussion paper, Working paper, 2005-09)Accounting theory treats a wide class of equity valuation approaches as equivalent. For example, under clean surplus accounting, the earnings approach is viewed as identical to the discounted dividends approach. Empirical ... -
Trade and communication under subjective information
Stecher, Jack Douglas (Discussion paper, Working paper, 2006-01)This paper models an economy where agents perceive the choices they face subjectively, and have subjective interpretations of the terminology they use in a shared business language. Preferences are defined on what an agent ...