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Using several valuation models, this study estimates stocks prices of all companies included in the Dow Jones Industrial, Transportation, and Utility Indexes over several time periods. The estimated values are then compared with actual stock prices to test the accuracy of the models used in the valu...
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| Format: | Article |
| Language: | fas |
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University of Tehran
2006-11-01
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| Series: | بررسیهای حسابداری و حسابرسی |
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| Online Access: | https://acctgrev.ut.ac.ir/article_18478_963d8e96051ffa15a84adade1aa6ce31.pdf |
| _version_ | 1818753658665304064 |
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| author | رضا رهگذر |
| author_facet | رضا رهگذر |
| author_sort | رضا رهگذر |
| collection | DOAJ |
| description | Using several valuation models, this study estimates stocks prices of all companies included in the Dow Jones Industrial, Transportation, and Utility Indexes over several time periods. The estimated values are then compared with actual stock prices to test the accuracy of the models used in the valuation process. The test results show that the estimated stock prices using discounted cash flow, market-value-added, and multiplier methods differ greatly from their actual prices, indicating that valuation have limited application value. The weak performance of valuation models may lead investors and students to become cynical about the valuation theory and discount or discard the fundamental idea behind the intrinsic value calculation. |
| first_indexed | 2024-12-18T05:10:52Z |
| format | Article |
| id | doaj.art-ea37d3b35f614224a457d94f255231d0 |
| institution | Directory Open Access Journal |
| issn | 2645-8020 2645-8039 |
| language | fas |
| last_indexed | 2024-12-18T05:10:52Z |
| publishDate | 2006-11-01 |
| publisher | University of Tehran |
| record_format | Article |
| series | بررسیهای حسابداری و حسابرسی |
| spelling | doaj.art-ea37d3b35f614224a457d94f255231d02022-12-21T21:19:53ZfasUniversity of Tehranبررسیهای حسابداری و حسابرسی2645-80202645-80392006-11-0113318478-رضا رهگذرUsing several valuation models, this study estimates stocks prices of all companies included in the Dow Jones Industrial, Transportation, and Utility Indexes over several time periods. The estimated values are then compared with actual stock prices to test the accuracy of the models used in the valuation process. The test results show that the estimated stock prices using discounted cash flow, market-value-added, and multiplier methods differ greatly from their actual prices, indicating that valuation have limited application value. The weak performance of valuation models may lead investors and students to become cynical about the valuation theory and discount or discard the fundamental idea behind the intrinsic value calculation.https://acctgrev.ut.ac.ir/article_18478_963d8e96051ffa15a84adade1aa6ce31.pdfCash FlowMarket value addedStock PriceValuation Models |
| spellingShingle | رضا رهگذر - بررسیهای حسابداری و حسابرسی Cash Flow Market value added Stock Price Valuation Models |
| title | - |
| title_full | - |
| title_fullStr | - |
| title_full_unstemmed | - |
| title_short | - |
| title_sort | |
| topic | Cash Flow Market value added Stock Price Valuation Models |
| url | https://acctgrev.ut.ac.ir/article_18478_963d8e96051ffa15a84adade1aa6ce31.pdf |