This work concerns management's ability to anticipate how investors will respond to the investing, financing, and operating decisions they make as they manage their business. Claiming that investor behavior is rational and predictable, as supported by extensive research in financial economics, Richard Altman presents a new kind of reference book: the first to bring reasoned theory and the results of exhaustive worldwide academic research to the interpretation of company stock price movements.

Following an introductory chapter that provides an overview of the issue, Altman devotes two...

This volume focuses on smoothing the road to success for the emerging small, publicly held company through an equity valuation strategy. The author provides a how-to' guide for achieving an efficient market value for a publicly held company's securities, one that clearly reflects the future earnings power of the company's underlying assets. The volume focuses on three broad areas: investor's perceptions of the company's future earning power, who management can shape that perception; and hwo that desired perception can be communicated through Wall Street's distribution channels. "Journal of...