Book contents
- The Valuation Treadmill
- The Valuation Treadmill
- Copyright page
- Dedication
- Contents
- Acknowledgments
- 1 Introduction
- 2 Xerox and the Pressure to Meet Projections
- 3 Penn Central and the Decline of Managerialism
- 4 Apple and the Controversy of Projections Litigation
- 5 Enron and Sarbanes–Oxley
- 6 Citigroup and the Financial Crisis of 2008
- 7 General Electric and the Problem of Earnings Management
- 8 The Future of Securities Fraud Regulation
- 9 Conclusion
- Notes
- Index
9 - Conclusion
Published online by Cambridge University Press: 14 July 2022
Book contents
- The Valuation Treadmill
- The Valuation Treadmill
- Copyright page
- Dedication
- Contents
- Acknowledgments
- 1 Introduction
- 2 Xerox and the Pressure to Meet Projections
- 3 Penn Central and the Decline of Managerialism
- 4 Apple and the Controversy of Projections Litigation
- 5 Enron and Sarbanes–Oxley
- 6 Citigroup and the Financial Crisis of 2008
- 7 General Electric and the Problem of Earnings Management
- 8 The Future of Securities Fraud Regulation
- 9 Conclusion
- Notes
- Index
Summary
At the start of 2020, the COVID-19 pandemic posed an unprecedented threat to the economy and stock market valuations. Stock prices plummeted in March 2020 as the nation shut down, and many public companies suspended their forecasts because they no longer had confidence that they could predict their financial performance. Surprisingly, the market started to recover over the spring and summer. By the fall, the S&P 500 reached the level it was at before the start of the pandemic. By the end of 2020, the market saw a significant annual gain.
- Type
- Chapter
- Information
- The Valuation TreadmillHow Securities Fraud Threatens the Integrity of Public Companies, pp. 147 - 148Publisher: Cambridge University PressPrint publication year: 2022