Who Is My Peer? A Valuation-Based Approach to the Selection of Comparable Firms

This study presents a general approach for selecting comparable firms in market-based research and equity valuation. Guided by valuation theory, we develop a "warranted multiple" for each firm, and identify peer firms as those having the closest warranted multiple. We test this approach by...

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Bibliographische Detailangaben

Veröffentlicht in:	Journal of accounting research 2002-05, Vol.40 (2), p.407-439
Hauptverfasser:	Bhojraj, Sanjeev, Lee, Charles M. C.
Format:	Artikel
Sprache:	eng
Schlagworte:	Analytical forecasting Forecasting models Harmonic mean Industrial growth Industrial market Linear regression Profit forecasting Profit margins Sales forecasting Valuation
Online-Zugang:	Volltext
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