emerging capital markets. It is also required to take into account limitations of the estimation methods (i.e. absence of dual …

investment results efficiency estimation on the basis of quantitative analysis of risk / return indicators, allowing to divide … the NPFs on the group of leaders and outsiders, as well as to give the recommendations for NPF' investment strategy …

findings of statistical studies of multipliers calculated for the industry, as well as their volatility for the 12-year period …) calculated with volatility calculated in different ways have been analyzed. In particular, mulltiplicator volatility introduced … calculated using the usual stock volatility statistics (when possible) led to lower estimated risk values compared to those …