Courteau, Lucie; Kao, Jennifer L.; O'Keefe, Terry; … - In: Accounting and Finance 46 (2006) 4, pp. 553-575
In this paper, we assess the relative performance of the direct valuation method and industry multiplier models using 41 435 firm-quarter Value Line observations over an 11 year (1990-2000) period. Results from both pricing-error and return-prediction analyses indicate that direct valuation...
