Before 2009, the market average price earnings ratio of Chinese firms is significantly higher than that of the U.S. firms, while after 2009, the valuation gap reverses. Using data from 1995 to 2018, we examine the dynamics and sources of valuation differentials between comparable Chinese and...

Intro -- EQUITY ASSET VALUATION -- CONTENTS -- PREFACE -- THE CFA PROGRAM -- ACKNOWLEDGMENTS -- ABOUT THE CFA INSTITUTE INVESTMENT SERIES -- THE TEXTS -- CHAPTER 1 OVERVIEW OF EQUITY SECURITIES -- LEARNING OUTCOMES -- 1. INTRODUCTION -- 2. EQUITY SECURITIES IN GLOBAL FINANCIAL MARKETS -- 3....

Intro -- Equity Asset Valuation -- Contents -- Foreword -- Preface -- Acknowledgments -- About the CFA Institute Investment Series -- Chapter 1 Equity Valuation: Applications & Processes -- Learning Outcomes -- 1. Introduction -- 2. Value Definitions and Valuation Applications -- 2.1. What Is...