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Equity- and entity-based multiples in emerging markets : evidence from the JSE Securities Exchange
(Clute Institute, 2013-05)
Analysts typically distinguish between equity- and entity-based approaches when employing the free cash flow model to perform equity valuations. However, when multiples are used to perform equity valuations, analysts ...
Precision, consistency and bias in emerging equity markets
(International Foundation for Research & Development, 2014-05)
The use of multiples is a popular approach employed by analysts to perform valuations. These multiples are based on optimal value drivers, the valuation performance of which should be underpinned by empirical findings from ...