Discerning the Determinants of Common Stock Valuation: An Empirical Analysis

Salvatore Joseph TERREGROSSA

Makale detayları

Discerning the Determinants of Common Stock Valuation: An Empirical Analysis

Yazarlar:

Salvatore Joseph TERREGROSSA

Yayıncı:

Istanbul Aydin University

Ana Başlıklar:

Ekonomi ve Maliye

Dergi:

Florya Chronicles of Political Economy 2018 Vol.4 Issue 2, pp.9-30

Belge Tipi:

Makale

Yayın Tarihi:

9/2018

Belge Dili:

İngilizce

Document ID (Org No.):

2000436512

eISSN:

2717-7629

pISSN:

2149-5750

Özet:

 

This empirical study combines the fundamental intrinsic-value theory
with the modern-portfolio theory to help discern the main determinants of
common-stock valuation. This study differs from previous studies in that a
simulated ex ante, controlled valuation-experiment is performed: for each
dividend-paying firm in a cross-sectional sample alternately employed
in a stock-valuation model are first, actual dividends; and then second,
a measure representing the dividend-paying-ability of the firm. For each
alternative strategy a set of results is generated, then generalised and a
comparison is made to see which strategy works best. An analysis-ofvariance
and a comparison-of-forecast-errors respectively indicate that a
dividend-paying-ability measure (1) has greater informational content and
(2) generally leads to better price appraisal when employed in a valuation
model.

Makale detayları

Discerning the Determinants of Common Stock Valuation: An Empirical Analysis

Yazarlar: Salvatore Joseph TERREGROSSA

Yayıncı: Istanbul Aydin University

Ana Başlıklar: Ekonomi ve Maliye

Dergi: Florya Chronicles of Political Economy 2018 Vol.4 Issue 2, pp.9-30

Belge Tipi: Makale

Yayın Tarihi: 9/2018

Belge Dili: İngilizce

Document ID (Org No.): 2000436512

eISSN: 2717-7629

pISSN: 2149-5750

Sayı

Yazarlar:

Salvatore Joseph TERREGROSSA

Yayıncı:

Istanbul Aydin University

Ana Başlıklar:

Ekonomi ve Maliye

Dergi:

Florya Chronicles of Political Economy 2018 Vol.4 Issue 2, pp.9-30

Belge Tipi:

Makale

Yayın Tarihi:

9/2018

Belge Dili:

İngilizce

Document ID (Org No.):

2000436512

eISSN:

2717-7629

pISSN:

2149-5750