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| Author: | Cheng, A. McNamara, R. |
| Title: | The valuation accuracy of the price-earnings and price- book benchmark valuation methods |
| Journal: | Review of Quantitative Finance and Accounting
2000 : DEC, VOL. 15:4, p. 349-370 |
| Index terms: | ACCOUNTING PRICE EARNINGS RATIOS VALUATION |
| Language: | eng |
| Abstract: | This paper evaluates the valuation accuracy of the price- earnings, the price-book and a combined price-earnings price-book benchmark valuation methods. Performance of the benchmark valuation methods relies on the definition of comparable firms. In this paper, comparable firms are selected based on industry membership, size and return on equity as well as combinations of industry membership with size and with return on equity. |
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