{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/71368"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/71368","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"Unanticipated Inflation and the Value of the Firm","abstract":"The purpose of this dissertation is to develop and test a model which could be useful in predicting the reactions of the values of individual firms to unanticipated inflation.","abstract_html":"The purpose of this dissertation is to develop and test a model which could be useful in predicting the reactions of the values of individual firms to unanticipated inflation.","abstract_has_math":false,"creators":["Bernard, Victor Lewis"],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Accountancy","degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2014,"date_issued":"2014-12-16T06:41:05Z","date_published":"2014-12-16T06:41:05Z","updated_at":"2026-07-22T22:26:04Z","subjects":["Economics, Finance"],"languages":[],"rights":[],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["(UMI)AAI8302805"],"render_values":[{"text":"(UMI)AAI8302805","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/71368","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:creator","label":"Author","values":["Bernard, Victor Lewis"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2014-12-16T06:41:05Z","10000-01-01","1982"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Accountancy"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Economics, Finance"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["http://hdl.handle.net/2142/71368","(UMI)AAI8302805"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["The purpose of this dissertation is to develop and test a model which could be useful in predicting the reactions of the values of individual firms to unanticipated inflation.","In conformity with much prior research, the model incorporates the effects of wealth redistribution due to the revaluation of fixed-dollar claims, including debt and depreciation tax shields. However, in contrast to prior research and in contradiction to the classical notion of the neutrality of money, the model predicts that there are persistent differences in the way inflation affects the profitability of operations of different firms.","The model is capable of explaining a significant portion of the cross-sectional dispersion in market returns which can be attributed to inflation. The evidence strongly supports the existence of large and somewhat stable cross-sectional differences in the impact of inflation upon cash flows from operations. Such differences appear substantially more important than the revaluation of debt and tax shields for purposes of explaining the redistribution of corporate wealth caused by inflation.","While the research is conducted at the level of the individual firm, the empirical model also provides insights about theories offered to explain the negative impact of inflation upon aggregate stock prices.","Made available in DSpace on 2014-12-16T06:41:05Z (GMT). No. of bitstreams: 1 8302805.pdf: 8999553 bytes, checksum: c1ce471b790a6e69dbf4c8f0aed32e96 (MD5) Previous issue date: 1982","Embargo set by: Seth Robbins for item 71534 Lift date: Forever Reason: Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs","U of I Only","259 p.","Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1982."]},{"key":"dc:title","label":"Title","values":["Unanticipated Inflation and the Value of the Firm"]}]}],"canonical_facts":{"dc:creator":["Bernard, Victor Lewis"],"dc:date":["2014-12-16T06:41:05Z","10000-01-01","1982"],"dc:description":["The purpose of this dissertation is to develop and test a model which could be useful in predicting the reactions of the values of individual firms to unanticipated inflation.","In conformity with much prior research, the model incorporates the effects of wealth redistribution due to the revaluation of fixed-dollar claims, including debt and depreciation tax shields. However, in contrast to prior research and in contradiction to the classical notion of the neutrality of money, the model predicts that there are persistent differences in the way inflation affects the profitability of operations of different firms.","The model is capable of explaining a significant portion of the cross-sectional dispersion in market returns which can be attributed to inflation. The evidence strongly supports the existence of large and somewhat stable cross-sectional differences in the impact of inflation upon cash flows from operations. Such differences appear substantially more important than the revaluation of debt and tax shields for purposes of explaining the redistribution of corporate wealth caused by inflation.","While the research is conducted at the level of the individual firm, the empirical model also provides insights about theories offered to explain the negative impact of inflation upon aggregate stock prices.","Made available in DSpace on 2014-12-16T06:41:05Z (GMT). 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