This paper investigates which comparables selection method generates the mostprecise forecasts when valuing European companies with the enterprise value to EBIT multiple. We also consider the USA as a reference point. It turns out that selecting comparable companies with similar return on assets...

Auf den internationalen Kapitalmärkten sind Unternehmen mit zunehmendem Wettbewerb konfrontiert. Institutionelle Anleger und Finanzanalysten erwarten eine Ausrichtung der Unternehmensstrategie am Ziel der Erhöhung des Unternehmenswertes aus Sicht der Anteilseigner, also des so genannten...

This paper presents an integrated analysis of the relationships between managerial share ownership (or alternatively the percentage of equity-based compensation), four additional corporate governance mechanisms, and firm value by explicitly incorporating the simultaneity of the process...

Most previous research on efficiency in banking takes a regulatory perspective. In contrast,this paper investigates the empirical relation between efficiency and profitability in five largeeconomies of the European Union during the period 1998-2005 and discusses the results fromthe perspective...

Loss Given Default (LGD) is a major element for pricing credits and bonds. As there has beena substantial amount of research during the last years, this paper aims to give an overview.Initially, defaults and recovery definitions for credits and the differences to bonds are discussed.A survey of...