...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>American journal of applied sciences >The Accuracy of Multiples | Science Publications
【24h】

The Accuracy of Multiples | Science Publications

机译：倍数精度|科学出版物

获取原文
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

> Problem statement: Equity valuation with the use of multiples is widely used by academics and practitioners concerning its functionality. This study aims to explore the sensitivity of three multiples in terms of accuracy. Approach: Price-to-Sales (P/S) multiple, the price-to-book value of equity (P/B) multiple and the Price-to-Earnings (P/E) multiple are three multiples under consideration, using both current and one-year-ahead earnings forecasts. Results: Evidence of empirical results show that, the multiples P/mdfy1 and P/mnfy1 are effective in terms of accuracy, with their means being negatively biased and their medians being positively biased. Finally, current earnings are identified as more appropriate value driver for the calculation of the P/E ratio by terms of accuracy. The results can be considered as reliable owing to the large sample and the procedure followed for its selection. Conclusion: This study offers a better understanding of the valuation approach through the use of multiples, in order analysts assumption to be more carefully and properly chosen and their results to be more accurately produced.
机译： > 问题陈述：使用倍数的股本估值在其功能方面被学者和实践者广泛使用。这项研究旨在探讨准确性的三个倍数的敏感性。 方法：市盈率（P / S），权益市净率（P / B）和市盈率（P / E）是使用当前和未来一年的收入预测，正在考虑三个倍数。 结果：经验结果表明，P / mdfy1和P / mnfy1的倍数在准确性方面是有效的，其均值呈负偏，中位数呈正偏。最后，根据准确性，当前收益被确定为更合适的价值驱动因素，用于计算市盈率。由于样品量大和选择过程遵循，结果可以认为是可靠的。 结论：本研究通过使用倍数提供了对估值方法的更好理解，从而使分析人员的假设更加谨慎和正确地选择，并且他们的结果得以更准确地产生。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号