The purpose of this article is to empirically examine the comparative accuracy of income oriented (Free cash flow to equity, Residual income model) and market oriented (Price to earnings multiple, Price to book value multiple and Price to sales multiple) valuation models for the Indian...

This study is built on the concept of optimal financial structure and examines its dynamics with the economic development process of India. Specifically, the present study intends to examine the evolving importance of banks and markets during different stages of economic development. Using...