The effectiveness of valuation models-An empirical evidence

The effectiveness of valuation models-An empirical evidence

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碩士 === 國立政治大學 === 財務管理學系 === 86 === This paper discusses three business valuation models,including DCF,APV and P/E ratio.The first step is computing the true value (model price) belong to the stockholder.Then compare the true value with the market price.I...

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Main Authors: Chen, Fengshan, 陳奉珊
Other Authors: Chiming Wu
Format: Others
Language:zh-TW
Published: 1998
Online Access:http://ndltd.ncl.edu.tw/handle/99811073007892033273
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spelling ndltd-TW-086NCCU03050042015-10-13T11:03:31Z http://ndltd.ncl.edu.tw/handle/99811073007892033273 The effectiveness of valuation models-An empirical evidence 企業評價模型有效性之實證研究 Chen, Fengshan 陳奉珊 碩士 國立政治大學 財務管理學系 86 This paper discusses three business valuation models,including DCF,APV and P/E ratio.The first step is computing the true value (model price) belong to the stockholder.Then compare the true value with the market price.If the difference is really large enough,form a "buy and hold" investment portfolio for half an year and one year.Finally test whether the portfolios forming base on valuation models can beat the market and most of the mutual fund. The empirical evidence is,the DCF,APV methods not only outperform the P/E ratio but also the market and the first 25% of the mutual fund. Chiming Wu 吳啟銘 --- 1998 學位論文 ; thesis 60 zh-TW
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language zh-TW
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sources NDLTD
description 碩士 === 國立政治大學 === 財務管理學系 === 86 === This paper discusses three business valuation models,including DCF,APV and P/E ratio.The first step is computing the true value (model price) belong to the stockholder.Then compare the true value with the market price.If the difference is really large enough,form a "buy and hold" investment portfolio for half an year and one year.Finally test whether the portfolios forming base on valuation models can beat the market and most of the mutual fund. The empirical evidence is,the DCF,APV methods not only outperform the P/E ratio but also the market and the first 25% of the mutual fund.
author2 Chiming Wu
author_facet Chiming Wu
Chen, Fengshan
陳奉珊
author Chen, Fengshan
陳奉珊
spellingShingle Chen, Fengshan
陳奉珊
The effectiveness of valuation models-An empirical evidence
author_sort Chen, Fengshan
title The effectiveness of valuation models-An empirical evidence
title_short The effectiveness of valuation models-An empirical evidence
title_full The effectiveness of valuation models-An empirical evidence
title_fullStr The effectiveness of valuation models-An empirical evidence
title_full_unstemmed The effectiveness of valuation models-An empirical evidence
title_sort effectiveness of valuation models-an empirical evidence
publishDate 1998
url http://ndltd.ncl.edu.tw/handle/99811073007892033273
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