Equity Valuation Using Multiples | An Empirical Investigation

Andreas Schreiner

ISBN 10: 3835006967 / ISBN 13: 9783835006966

Published by Deutscher Universitätsverlag, 2007

About this Item

Equity Valuation Using Multiples | An Empirical Investigation | Andreas Schreiner | Taschenbuch | Schriften zum europäischen Management | Einband - flex.(Paperback) | Englisch | 2007 | Deutscher Universitätsverlag | EAN 9783835006966 | Verantwortliche Person für die EU: Springer Nature Customer Service Center GmbH, Europaplatz 3, 69115 Heidelberg, productsafety[at]springernature[dot]com | Anbieter: preigu.

Seller Inventory # 111107251

Bibliographic Details

• Title: Equity Valuation Using Multiples | An Empirical Investigation
• Publisher: Deutscher Universitätsverlag
• Publication Date: 2007
• Language: English
• ISBN 10: 3835006967
• ISBN 13: 9783835006966
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 210W x 148H x 12D millimeters 210 millimeters width by 148 millimeters height by 12 millimeters depth
• Weight: 266 grams
• Seller catalogs:
  • Bücher

About this title

Synopsis

Accounting-based market multiples are the most common technique in equity valuation. Multiples are used in research reports and stock recommendations ofboth buy-side and sell-side analysts, in fairness opinions and pitch books of investment bankers, or at road shows offirms seeking an IPO. Even in cases where the value of a corporation is primarily determined with discounted cash flow, multiples such as PIE or market-to-book play the important role of providing a second opinion. Mul­ tiples thus form an important basis of investment and transaction decisions of vari­ ous types of investors including corporate executives, hedge funds, institutional in­ vestors, private equity firms, and also private investors. In spite of their prevalent usage in practice, not so much theoretical back­ ground is provided to guide the practical application of multiples. The literature on corporate valuation gives only sparse evidence on how to apply multiples or on why individual multiples or comparable firms should be selected in a particular context.

About the Author

Dr. Andreas Schreiner promovierte bei Professor Dr. Klaus Spremann am Schweizerischen Institut für Banken und Finanzen der Universität St.Gallen (HSG).