Chapel Hill, NC 27599-3490
University of North Carolina Kenan-Flagler Business School
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Equity valuation; biotechnology; financial statement data; R&D
Accruals, Valuation, Out-of-sample prediction
Internet stocks; economic fundamentals; web traffic; supply and demand.
Return predictive signals, supraview, efficient markets
Biotechnology, financial statements, firm maturity, investment opportunities, non-financial statement information, private equity, value relevance, venture capital
Firm characteristics; anomalies; cross-section; average U.S. monthly returns
R&D; Market-to-book ratio; Profitability; Conservative accounting
Accruals anomaly, market efficiency, hedge funds, accounting scholarship
Winner-takes-all business model; Inernet firms; Intangibles; Increasing profitability returns-to-scale
Biotechnology; book-to-market; firm size; growth options; risk; round-to-round returns; venture capital
CEO compensation, Successful equity financing, Pay-for-Performance, Private venture-backed companies
Stock options; Repricing; Canadian firms
Financial Crisis, Hedge Funds, Systemic Risk, Short Selling, Derivatives
news dissemination, bad news, journalist, visibility, attention, information
Broad-based employee stock options, Equity valuation, Private firms, Venture Capital
stock options, repricing, Canadian firms
capital markets, stock prices, internet stocks, stock market bubble
Analysts, sophistication, DCF, valuation, errors, judgments
Residual income valuation, DCF, sell-side equity analysts
Voluntary disclosures; hedge funds; investor letters; proprietary costs; agency costs
Market-to-Revenue Multiple, Price-to-Sales Ratio, Public Companies, Private Companies, Venture Capital, Internet Companies, Transitory Revenue
internet companies, market-to-revenue multiple, price/sales ratio, private companies, public companies, transitory revenue, venture capital
Compensation policies, employees, patents, private firms, revenue forecasts
Entrepreneurship, Compensation Contracts, Private firms
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Growth dynamics; maturation; private firms; venture-backed companies
Employee compensation, founders, VCs, non-pecuniary benefits
Forecasted financial statements, multiyear, long-horizon, analysts, biases
Generally Agreed Accounting Principles (GAAP), Biotechnology industry, Startups, Venture capital, Valuation, Initial public offerings (IPO), Financial documents, Equity financing, Firm growth
Intangibles, NPV profitability, Increasing profitability returns-to-scale
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