Keyword: asset valuation

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Finance

Short Selling and Asset Values

This Finance survey examines (a) Allowing short selling of financial securities, such as stocks and government bonds, leads to prices that, on average, are closer to their fundamental values; (b) When short sellers start to establish substantial short positions in a stock, the stock is likely to have been overvalued; (c) Requiring investors to disclose short positions in a stock at the equivalent threshold as they are required to do for long positions would improve the informativeness of stock prices
Europe

Policy Responses to Recent Bank Failures

This European survey examines (a) The response to recent bank failures should be to: Expand central banks’ lender of last resort facilities for banks; (b) The response to recent bank failures should be to: Substantially increase the limit on bank deposit insurance; (c) The response to recent bank failures should be to: Substantially increase bank capital requirements; (d) The response to recent bank failures should be to: Use market values of all traded assets to compute banks’ regulatory capital
US

Policy Responses to Recent Bank Failures

This US survey examines (a) The response to recent bank failures should be to: Expand central banks’ lender of last resort facilities for banks; (b) The response to recent bank failures should be to: Substantially increase the limit on bank deposit insurance; (c) The response to recent bank failures should be to: Substantially increase bank capital requirements; (d) The response to recent bank failures should be to: Use market values of all traded assets to compute banks’ regulatory capital
Finance

Commercial Real Estate

This Finance survey examines (a) The impact of the Covid-19 pandemic on working and shopping habits has not been fully priced into current private valuations of downtown commercial properties in major cities; (b) A continued fall in commercial real estate valuations would trigger another round of banking panic
Finance

Discount Rates

This Finance survey examines (a) Despite the empirical failures of the Capital Asset Pricing Model (CAPM) in explaining expected stock returns, a shareholder-value maximizing publicly-traded firm should still use the CAPM to calculate the cost of equity in capital budgeting; (b) The equity risk premium that U.S. publicly traded firms should use in cost of equity calculations in April 2023 is above 6%
Finance

Cryptocurrency Exchanges

This Finance survey examines (a) The collapse of a major crypto intermediary will have little impact on the wider economy and the stability of the traditional financial system; (b) The collapse of a major crypto intermediary suggests the need for the crypto asset class to be more tightly regulated.