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- catalog abstract "We examine the experience of CUC International to analyze the efficacy of financial reporting and corporate finance policies as information signals. CUC faced problems in convincing investors that long-term marketing outlays were profitable investments. To resolve this problem, it adopted a series of accounting and financial policy measures, including a leveraged recapitalization. CUC's limited and mixed success with these measures suggests that accounting and finance policy signals are not always effective, leading to potential stock misvaluations over an extended period. The evidence also suggests that the effectiveness of different financial policy signals varies widely. CUC's experience raises important questions about prior conclusions regarding market efficiency and financial signaling.".
- catalog contributor b8389080.
- catalog contributor b8389081.
- catalog created "1994.".
- catalog date "1994".
- catalog date "1994.".
- catalog dateCopyrighted "1994.".
- catalog description "Includes bibliographical references (p. 26-27).".
- catalog description "We examine the experience of CUC International to analyze the efficacy of financial reporting and corporate finance policies as information signals. CUC faced problems in convincing investors that long-term marketing outlays were profitable investments. To resolve this problem, it adopted a series of accounting and financial policy measures, including a leveraged recapitalization. CUC's limited and mixed success with these measures suggests that accounting and finance policy signals are not always effective, leading to potential stock misvaluations over an extended period. The evidence also suggests that the effectiveness of different financial policy signals varies widely. CUC's experience raises important questions about prior conclusions regarding market efficiency and financial signaling.".
- catalog extent "33 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; HBS 94-063.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 94-063".
- catalog issued "1994".
- catalog issued "1994.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog subject "CUC International, Inc.".
- catalog subject "Corporations Investor relations.".
- catalog subject "Disclosure in accounting.".
- catalog title "The challenges of shareholder communication : the case of CUC International, Inc. / by Paul M. Healy, Krishna G. Palepu.".
- catalog type "text".