|
PUBLISHED
WORK
We
are thinkers. We commonly publish our thoughts on issues that shape
corporate strategies and disclosure practices. Check back with us
as we post more original articles in this section.
 |
To
Speak or Not to Speak: The Untold Story of Fair Disclosure
By Lev Janashvili and Robert Ferris –
November 2001
Written
soon after SEC's Regulation FD took effect, the article frames
some of the rule's weaknesses and challenges the self-serving
rhetoric of the rule's detractors and beneficiaries alike.
This document
also features a response from former SEC Chairman Arthur Levitt.
|
|
Internet
Stocks: Deconstructing Wall Street’s Wisdom
By
Lev Janashvili – January 2000
"The Internet’s significance is not
contained in last quarter’s earnings per share or in a
dot-com executive’s net worth, not even in the ever-ascending
prices of dot-com stocks. And once these realizations about
the Internet settle in the psyche of the market, we can shift
focus to a more meaningful challenge – that is, further
refining our understanding of the medium as a defining paradigm
of our age." |
 |
Semiconductor
Equipment and Materials Companies: The Market's Assessment
By Lev Janashvili and Robert Ferris – August 1998
"The book-to-bill ratio is commonly seen as a useful indicator
that focuses on significant drivers of corporate profitability.
However, analysts pointed out two major shortfalls of the ratio
as an industry benchmark: 1) The ratio is a lagging indicator.
Thus, it clashes with the long-term, forward-looking investment
philosophy of the industry's core financial constituencies.
2) Further, that the ratio reflects only a limited set of industry
fundamentals, while industry observers commonly feel that a
broader range of data should be included, such as the capital
expenditure forecasts of chipmakers." |
|
