Harvard Corporate Governance

AUGUST 1, 2023

Specifically, since 2018, the market has reacted positively to new activist situations, with attractive short-term share price outperformance, but relatively few activists have been able to sustain market-beating performance throughout the first year following a campaign launch.

Marketability 242

Marketability Total Shareholder Return Alpha Market Capitalization 242

Musings on Markets

JANUARY 5, 2024

Since I am lucky enough to have access to databases that carry data on all publicly traded stocks, I choose all publicly traded companies, with a market price that exceeds zero, as my universe, for computing all statistics. Costs of equity & capital 4. Dividend yield & payout 3. Default Spreads 3. Margins & ROC 3.

Dividends 105

Dividends Risk Premium Equity Book Value 105

Musings on Markets

JUNE 23, 2023

As the semiconductor business has acquired heft, in terms of revenues and profitability, investors have priced those operating results into the market capitalization assigned to these companies. After a long stretch at the top, Intel has dropped back down the list and ranked third, in terms of revenues, in 2022.

Start-ups 103

Start-ups Marketability Market Capitalization Technology 103

Reynolds Holding

FEBRUARY 5, 2023

To explore this possibility, we divide our sample by industry, by year, by market capitalization, by analyst following, and by trading volume. We find a negative and statistically significant alpha from our risk factor regressions, confirming our findings. The abnormal returns may be rational compensation for risk.

Marketability 59

Marketability Alpha Equity Firm Value 59

Reynolds Holding

JANUARY 23, 2024

in August 2019, wiping out about $36 billion in market capitalization. This allegedly subjected investors to “undisclosed risk and ultimately led to the massive losses the funds incurred in February and March of 2020,” when the COVID-19 pandemic roiled markets. Kraft Heinz’s stock price also drastically declined from $56.20

Banking 59

Banking Private Equity Firm Alpha Compliance 59

Reynolds Holding

NOVEMBER 15, 2022

Charges against robo-adviser Wahed Invest, LLC , which had marketed itself as providing advisory services compliant with Islamic, or Shari’ah law, but failed to adopt and implement written policies and procedures addressing how it would assure Shari’ah compliance on an ongoing basis. A litigated matter charging Vale S.A. ,

Compliance 45

Compliance Marketability Technology Alpha 45

Musings on Markets

JANUARY 10, 2025

Not surprisingly, the company listings are across the world, and I look at the breakdown of companies, by number and market cap, by geography: As you can see, the market cap of US companies at the start of 2025 accounted for roughly 49% of the market cap of global stocks, up from 44% at the start of 2024 and 42% at the start of 2023.

Risk Premium 115

Risk Premium Dividends Start-ups Corporate Finance 115