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Pedro M. Nogueira Reis, Mário Augusto
Pág. 27 - 48
Academics and practitioners have been applying equity valuation methods mainly based on discount cash flow models, residual income models or dividend discount models combined with balance sheet and income statement multiples of market comparables to anal...
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Antonio Marcos Duarte Junior,Hugo Ghiaroni Albuquerque e Silva
Pág. 221 - 249
We consider the problem of equity valuation. The use of fuzzy multicriteria decision analysis is proposed to solve the problem. The resulting methodology allows the use of the multiples most often calculated by equity analysts from audited balance sheets...
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Lesedi Mabitsela, Eben Maré and Rodwell Kufakunesu
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John C. Gardner, Carl B. McGowan, Jr, Susan E. Moeller
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Fernando Caio Galdi,Rodrigo Falco Lopes
Pág. 131 - 157
This paper investigates how accounting variables explain cross-sectional stocks returns in Brazilian capital markets. The analysis is based on Zhang (2000) and Zhang and Chen (2007) models. These models predict that stock returns are a function of net in...
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Antonio Zoratto Sanvicente,Renato Teles Delgado
Pág. 113 - 139
This paper tested the Pástor and Veronesi (2003) hypothesis that the market-to-book ratio (M/B) is negatively related to the number of years (age) during which a firm has had its stock traded on an Exchange. The predicted decline takes place as a result ...
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Marlène Benquet
Pág. Finance an - 64
How do private equity firms decide on a fair price for a business? Drawing on 76 semi-structured interviews, this article contributes to the sociology of finance and valuation studies by showing that pricing companies is not just a valuation operation bu...
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Ignacio Velez-Pareja,Julian Benavides Franco
Pág. 309 - 334
Tax savings and the discount rate we use to calculate their value are involved in the calculation of cost of capital. Based on previous findings, we derive a general approach to cash flow valuation that take into account any kind of tax shields related t...
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Felipe Pretti Casotti,Luiz Felipe Jacques da Motta
Pág. 157 - 204
The pricing process of new shares in IPOs has been under study in several countries. This paper initially looks at the valuation process using multiples and seeks to classify the new shares under two categories: underpriced or overpriced at the time of t...
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Heather N Rhodes, James A. Ligon
Pág. 18 - 56
This study aims to evaluate the effect of regulatory corporate governance mandates on the valuation of equity-issuing firms in the U.S. Using a matched sample, we examine how the Exchange Listing Requirements, specifically, and the Sarbanes-Oxley Act (SO...
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Selahattin GURIS,Aynur PALA
Pág. 264 - 276
This paper examines the firm-spesific characteristics that affect on equity returns depending on sector rotation scheme throughout four financial cycle stages for an important emerging market, Turkey. For this purpose, using panel data for twenty-five no...
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D. Priilaid,P. van Rensburg
AbstractWorking with a set of 35 South African wine brands identified in Priilaid and Van Rensburg (2010a), this study presents two brand valuation techniques that combine non-ordinal wine valuation models with conventional methods of valuation. The firs...
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Vojislav Sekerez
Pág. 173 - 186
The equity investments in other entities may result in different level of control over their activities and different consequential relationships between the investors and investees. For the purposes of valuation of the investments in associates and join...
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Richard Parsons
The proposed Copper King mine in south central Utah was expected to produce millions of dollars in copper, gold and silver. A nearby struggling town and thousands of speculators and large banks seized upon this promise. They all were willing to inv...
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Sebastián A. Rey
One of the main characteristics of the (recently proposed) non-arbitrage valuation of equities framework is the reduction in pricing subjectivity. This is evidenced in terms of the dividends discount rate and the outlook of future performance (dividends ...
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A. M. Estrella-Ramón,M. Sánchez-Pérez,G. Swinnen,K. VanHoof
AbstractThroughout this research the customer valuation trend in marketing is going to be reviewed, emphasizing Customer Lifetime Value and Customer Equity measures. The main theoretical contributions in the development and evolution of the Customer Life...
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This study simultaneously estimates the implied cost of equity capital (COC) and the growth rate in the Mongolian Stock Market over the period from 2002 to 2006 using a residual income reverse-engineered model derived by James A. Ohlson. It also compares...
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Tadeusz Dudycz and Bogumila Brycz
The purpose of the study is the analysis of the relationship between the par value (also known as nominal value or face value) and the parameters influencing a company?s financing. Additionally, the utility of the par value as a manipulation tool for equ...
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Antonio Jaramillo Dayag, Fernando Trinidad
Pág. 17 - 33
Price-Earning Ratio or P/E Multiple is a widely used, straightforward investment assessment tool in developed countries. However, the method has not been utilized as much in stock market performance analysis in developing countries such as the Philippine...
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Abderrahmane Djaballah
Pág. 265 - 272
One of the major aims of accounting information is its usefulness in decision-making and in assessing the value of a company. To this end, a vast theoretical and empirical literature has examined the relationship between accounting information and the co...
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