We investigate the reasons for there being an apparent limit to the accuracy of valuation using multiples, when it is implemented in a standard way. We find that most of the error comes from failing to correct known biases in earnings forecasts. Another part comes from mismatching observable...

This paper contributes to the maritime transport literature by examining the relative efficiency of firms in the three key sectors of the shipping industry, i.e. dry, wet and container shipping. Two relative efficiency models are developed to assess relative market and relative operating...

It has been stated that the meaning of higher efficiency is equivalent to being more competitive and profitable for enterprise operations. Using insights from fundamental analysis, the purpose of this study is to investigate the relative operational performance and market efficiency of liner...

Purpose – The aim of this study is to examine the impact of mandatory International Financial Reporting Standards (IFRS) adoption on the informational efficiency, market stability, and price adjustment of underlying stocks in Europe. Design/methodology/approach – This study examines 1,187...