Share valuation and corporate equity policy

Corporate Failure and Equity Valuation

This paper incorporates an annual probability of corporate failure into a standard equity valuation model, as an alternative or complementary correction for risk that improves in several ways over conventional risk premia or ad hoc adjustments to assumed growth rates. Though the correction is nonlinear, it can be reduced to an equivalent function that enters the valuation equation in the tradit...

Equity Valuation Using Multiples

We examine the valuation performance of a comprehensive list of value drivers and find that multiples derived from forward earnings explain stock prices remarkably well: pricing errors are within 15 percent of stock prices for about half our sample. In terms of relative performance, the following general rankings are observed consistently each year: forward earnings measures are followed by his...

Examining the Relationship between Corporate Governance and the Corporate Performance Valuation

The aim of this study was to investigate the relationship between corporate governance characteristics and valuation of the firm's performance in Iran. After designing performance evaluation indexes, information of transactions made during the five-year study from 2011 to 2015 from the Stock Exchange were collected and the sample consists of 129 companies was selected by systematic elimination ...

The Role of Corporate Governance on Tax Justice (Horizontal Equity and Vertical Equity)

The purpose of this study is to examine the role of corporate governance in the concept of tax justice. The current research contributes to the field of applied research and is regarded as a descriptive survey research, testing four main hypotheses and eight special hypotheses. The required data for this research were obtained through a questionnaire distributed among financial managers of 133 ...

Equity Valuation: Thirty Years Later