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Multiples And Their Use For Equity Valuation On European Capital Markets

Author

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  • Dragos Ioan Minjina

    (Academy of Economic Studies, Bucharest)

Abstract

Multiples valuation represents the most used valuation approach. There are few studies that focus on this method and the majority of them use US data. The studies based on European companies’ data have results that generally confirm those of the studies made with US data. At the same time, it is noticed a lower performance of European multiples, explained by the heterogeneity of European fiscal and accounting regulations, by a greater relevance of accounting information published in the United States and by a greater degree of efficiency of US capital market.

Suggested Citation

  • Dragos Ioan Minjina, 2008. "Multiples And Their Use For Equity Valuation On European Capital Markets," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 11(11(528)(s), pages 220-228, November.
    • Handle: RePEc:agr:journl:v:11(528)(supplement):y:2008:i:11(528)(supplement):p:220-228
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    Cited by:

    1. Frank Asche & Bård Misund, 2016. "Who’s a major? A novel approach to peer group selection: Empirical evidence from oil and gas companies," Cogent Economics & Finance, Taylor & Francis Journals, vol. 4(1), pages 1264538-126, December.
    2. WS Nel, 2015. "An Optimal Peer Group Selection Strategy for Multiples-Based Modelling in the South African Equity Market," Journal of Economics and Behavioral Studies, AMH International, vol. 7(3), pages 30-46.

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