Information contained in the security prices are relevant to different segments of the financial community. Given the most appropriate methodology, each segment attempts to extract the information relevant to its decision. This paper posits that the Net Present Value (NPV) (share market price less book value of that share) of a firm’s equity security, contains information relating to the Average Planning Horizon (APH) of the equity investors. Given general uncertainty and volatile financial market conditions, this study suggests that the messages contained in the NPV may be potentially useful for corporate financial planning.
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Volume (Year): V (2007) Issue (Month): 2 (June) Pages: 7-20 Download reference. The following formats are available: HTML,
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Handle: RePEc:icf:icfjfe:v:05:y:2007:i:2:p:7-20
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