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This study looks at the value-relevance of accounting data and measures of web-traffic for Internet firms listed on the Neuer Markt. We show that earnings and cash flows…
This study looks at the value-relevance of accounting data and measures of web-traffic for Internet firms listed on the Neuer Markt. We show that earnings and cash flows cannot explain the valuation of Internet companies, while we report a positive association between total sales and market capitalisation. In addition, sales and marketing as well as research and development expenses are relevant value-drivers. Furthermore, we find a positive relation between market values and a number of web-metrics such as customer loyalty, reach, page impressions, and unique visitors. We conclude that during the Internet bubble, measures of web-traffic provided at least as much explanatory power for market values as financial statement information.
With the opening of the Nouveau Marché in France in 1996, followed by the Neuer Markt in Germany in 1997 and the Nuovo Mercato in Italy in 1999, the opportunities for small companies to obtain a listing on European exchanges were growing rapidly. Other European countries with new stock markets included Belgium, Denmark, Finland, Greece, Ireland, the Netherlands, Poland, Portugal, Spain, Sweden and Switzerland. These stock markets had one common aim – to attract early stage, innovative and high-growth firms that would not have been viable candidates for public equity financing on the main markets of European stock exchanges. Of these new markets, the Neuer Markt emerged as Europe’s answer to NASDAQ.
This chapter employs a longitudinal social network approach to research small group teaching in higher education. Longitudinal social network analyses can provide in-depth…
This chapter employs a longitudinal social network approach to research small group teaching in higher education. Longitudinal social network analyses can provide in-depth understanding of the social dynamics in small groups. Specifically, it is possible to investigate and disentangle the processes by which students make or break social connections with peers and are influenced by them, as well as how those processes relate to group compositions and personal attributes, such as achievement level. With advanced methods for modelling longitudinal social networks, researchers can identify social processes affecting small group teaching and learning.
The purpose of this paper is to give an overview of UAE Stock Exchange industry. In particular this paper aims to assess a potential merger between Dubai Financial…
The purpose of this paper is to give an overview of UAE Stock Exchange industry. In particular this paper aims to assess a potential merger between Dubai Financial Markets-Nasdaq-Dubai and Abu Dhabi Securities Exchange, evaluating risks, rewards, policy and business implications.
The paper presents a theoretical framework and a literature review of M & As in financial sector. It then carries out a case study on a potential merger between the UAE Stock Exchanges and a discussion on the implications for the actors involved.
The contraction both in market capitalization and in trading value in the three UAE Stock Exchanges caused by subprime financial crisis and market fragmentation could be a key factors in implementing a merger between them. Because of high-fixed costs and trading platform, a single consolidated stock exchange may benefit from significant economies of scale, particularly network effects, and economies of scope.
This paper could be useful to Security and Commodity Authority, in order to support a merger between Dubai and Abu Dhabi Stock Exchange. Given that UAE capital market regulator has tried to improve efficiency in UAE stock market over the last years, a merger between UAE Stock Exchanges could have positive effects on overall efficiency.
It is the first paper that analyze UAE Stock Exchange industry. It is the first study that focusses on a potential merger between emerging markets’ stock exchanges. It is one of the first contributions that relates stock exchanges belonging to emerging and developed countries.
Teaching is increasingly recognised as a complex, demanding career. Teachers experience higher levels of stress and burnout than other professionals. The career is subject…
Teaching is increasingly recognised as a complex, demanding career. Teachers experience higher levels of stress and burnout than other professionals. The career is subject to heightened levels of public scrutiny and yet offers only modest rewards in the form of social status and income. Drawing on a typological model of coping styles among a diverse sample of German health professionals, we identified six types of emotional coping (Good health, Sparing, (healthy) Ambitious, (path to) Burnout, Diligent, and Wornout) among a longitudinal sample of 612 Australian primary and secondary teachers. A significant outcome of our study was the empirical differentiation between burned out and wornout teachers. This extends the literature on teacher burnout and offers new directions to the study of ‘at risk’ beginning teachers.