Assessing relative valuation in equity markets : bridging research and practice
著者
書誌事項
Assessing relative valuation in equity markets : bridging research and practice
（Palgrave pivot）
Palgrave Macmillan, c2016
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注記
Includes bibliographical references and index
内容説明・目次
内容説明
This
book addresses the gap between the widespread use of stock market multiples in
valuation practice and the frontiers of research on multiples. The book's approach
is twofold: the authors first analyse the performance of multiples metrics in
predicting the market price of a set of liquid and highly traded US stocks. The
authors then employ these results to test profitable stock purchasing
strategies employed in order to 'beat the market'. The results presented widen
our understanding of the "market performances" of the valuation tools practitioners
utilise in their everyday work. The evidence is of interest to researchers
and equity analysts, who wish to analyse the circumstances in which
valuation errors using multiples are more frequent and when market multiples
become ineffective in estimating market prices.
目次
Chapter 1. Relative Valuation: Issues and General Framework.- Chapter 2.Literature Background.- Chapter 3.Accuracy Performance of Relative Valuation.- Chapter 4. A Portfolio Approach: Multiples' Accuracy and Stock Selection.- Conclusion.
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