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The use of multiples in the South African equity market: is the popularity of the price earnings ratio justifiable from a sector perspective?

Nel, W.S. - In: Meditari Accountancy Research 17 (2009) 2, pp. 101-115

research. This article investigates the accuracy of the five most popular multiples, including the P/E ratio, in valuing the … revealed that the P/E ratio does not perform the most accurate valuations across all sectors and that different multiples … should be used for different sectors. There is an opportunity to enhance the accuracy of equity valuations based on multiples …

Persistent link: https://www.econbiz.de/10014930490

The roles of accounting data in equity valuation: evidence from China

Wang, Tiandong; Zhang, Tianxi - In: China Finance Review International 5 (2015) 1, pp. 69-87

Purpose – The purpose of this paper is to examine the roles of earnings and book value (BV) in equity valuation. Design/methodology/approach – The authors apply model’s explanatory power to analyze the roles of accounting data and test the hypotheses empirically with a sample of Chinese...

Persistent link: https://www.econbiz.de/10014694630

Methods of choice in the valuation of ordinary shareholders’ equity: evidence from theory and practice

Nel, W.S. - In: Meditari Accountancy Research 17 (2009) 2, pp. 117-135

The question that inevitably surfaces in practice, and certainly in lecture halls, is which equity valuation method is superior. Popular opinion holds that academia and investment practitioners may have different preferences in this regard. This article investigates which primary minority and...

Persistent link: https://www.econbiz.de/10014930491

Do combining value estimates increase valuation accuracy? Evidence from Indian chemical industry

Tiwari, Ranjit; Singla, Harish Kumar - In: Journal of Accounting in Emerging Economies 5 (2015) 2, pp. 170-183

studies can be conducted using the third widely used valuation models, i.e. multiples and see the level of accuracy of …

Persistent link: https://www.econbiz.de/10014839605

Philip Fisher’s sense of numbers : An account of the use of quantitative reasoning in Philip Fisher’s qualitative model of equity valuation

Massironi, Carlo - In: Qualitative Research in Financial Markets 6 (2014) 3, pp. 302-331

Purpose – This paper aims to propose an account of the use of numbers and mathematical formulae and, more generally, of the quantitative aspects in the qualitative equity valuation model of the American investor Philip A. Fisher who is considered to be one of the fathers of the qualitative...

Persistent link: https://www.econbiz.de/10014988324

Biotech firm valuation in an emerging market – evidence from Taiwan

Hsiang‐Ling Chen, Angela; Wang, Xiaoli; Zu‐Hsu Lee, … - In: Asia-Pacific Journal of Business Administration 5 (2013) 2, pp. 92-102

Purpose – This paper aims to explore the relationship of various financial and non‐financial factors to corporate value and how these factors can be used for the purpose of firm valuation. The focus is placed on a developing high‐tech industry. Design/methodology/approach – The authors...

Persistent link: https://www.econbiz.de/10014674236

Impact of soft law regulation by corporate governance codes on firm valuation: the case of Germany

Stiglbauer, Markus; Velte, Patrick - In: Corporate Governance 14 (2014) 3, pp. 395-406

Purpose – This paper aims to provide insight whether disclosed compliance with the German Corporate Governance Code (GCGC) leads to higher valuation on the German stock market. Design/methodology/approach – Based on agency theory, stakeholder theory and institutional theory, the authors...

Persistent link: https://www.econbiz.de/10014695521

The supplemental role of operating cash flows in explaining share returns : Effect of various measures of earnings quality

Agnes Cheng, C.S.; Johnston, Joseph; Zishang Liu, Cathy - In: International Journal of Accounting & Information Management 21 (2013) 1, pp. 53-71

Purpose – In response to recent concerns on earnings quality and a firm's fundamental performance, the purpose of this paper is to re‐examine salient questions under accrual accounting: how earnings quality affects the role of earnings and operating cash flows in a firm's valuation....

Persistent link: https://www.econbiz.de/10014759192

Sustainability and firm valuation: an international investigation

Yu, Minna; Zhao, Ronald - In: International Journal of Accounting and Information … 23 (2015) 3, pp. 289-307

Purpose – This paper aims to examine whether capital market rewards firms with good corporate sustainability practices in an international setting by using the Dow Jones Sustainability Index (DJSI hereafter) as an integrated measure of firm sustainability performance....

Persistent link: https://www.econbiz.de/10014759443

Is top-management remuneration influenced by board characteristics?

Deschenes, Sebastien; Boubacar, Hamadou; Rojas, Miguel; … - In: International Journal of Accounting & Information Management 23 (2015) 1, pp. 60-79

Purpose – The purpose of this article is to examine if certain board characteristics have an impact on the total remuneration of top management and the ratio of stock-based remuneration to total top-management remuneration. Design/methodology/approach – The study draws on data from the...

Persistent link: https://www.econbiz.de/10014759543