Corporate Finance e Excise

Managing Working Capital, Factors for Capital Structure, Term of Funding Risk Appetite & Corporate Strategy

Learn Capital Budgeting, Stock Valuations, Time value, working capital Management

Learn current asset management strategies from a Certified Public Accountant (CPA)

Learn how to make capital budgeting decisions from a certified public accountant (CPA)

Learn time value calculation (present value & future value) concepts from a Certified Public Accountant (CPA)

Learn strategies for making company financing decisions form a Certified Public Accountant (CPA)

Learn short term financing decision making from a Certified Public Accountant (CPA)

Learn to value bonds, common stock, and preferred stock from a Certified Public Accountant (CPA)

Learn how to forecast and budget from a certified public accountant (CPA)

This book introduces a measure of firms’ competition culture based on a textual analysis and natural language processing (NPL) of firms’ 10-K filings. Using this measure, the book explores the relationship between competition culture and various phenomena in corporate finance, specifically, institutional ownership structure, stock return performance, idiosyncratic stock price crash risk, meeting/beating analysts’ earnings expectations, and earnings management activity, for a large sample of US-based financial and non-financial firms. In particular, the book provides evidence that transient institutional ownership intensifies firms’ competition culture, while dedicated institutional ownership lessens it. In addition, the book’s findings suggest that firms with greater levels of competition culture achieve higher levels of short-term stock return performance, experience greater incidence of idiosyncratic stock price crashes, and are more prone to meet/beat analysts forecast and engage in accruals-based earnings manipulation.