...) and Bradshaw et al. (2006) and use the tendency of earnings to disappoint as an indication of over‐optimism and hence overpricing. © Emerald Group Publishing Limited 2013 Acquisitions and mergers Assets valuation Returns Equity capital Mergers Acquisitions Valuation Behavioural...

... time, while no such effect is visible for discount rates that had been estimated in the past for pension plans. The paper also hypothesizes that the market rewards perceived precision of accounting estimates attributable to learning effect. Cross‐sectional tests confirm that the valuation coefficient...