Search Results

Now showing 1 - 2 of 2

Some of the metrics are blocked by your
consent settings
Emerging market stock valuation: new evidence from Peru
(Inderscience Publishers, 2020-12-22)
There is still a debate regarding which valuation multiples can estimate the price of a stock. Nevertheless, recent research has not considered previous relevant findings and authors are still in an 'exploratory' phase that targets multiples randomly, without analysing intentionally developed and emerging markets separately. The purpose of the investigation is to determine how strongly do the valuation multiples preferred by the literature all around the world explain the price of the stocks in emerging countries such as Peru, through panel data multiple linear regression models. Specific delimitations based on the literature are considered. Results show that: a) the model composed by valuation multiples from different emerging markets studies correlates strongly with the stock price throughout 20 years of analysis; b) the model can be reduced to a very short but statistically solvent expression; c) the commodity-related business is introduced as a novel explanatory variable.
Some of the metrics are blocked by your
consent settings
Towards a Deeper Comprehension of Unlevered Betas in Emerging Markets: Gordon and a Regression Stock Valuation Model
(Inderscience Publishers, 2023-01-01)
Unlevered betas determination in emerging markets remains a challenge because of the lack of formal tropicalised procedures. Replication of methods built for developed markets only generate biases. The study proposes a standardised procedure through the match of two asset pricing models in order to calculate unlevered betas more appropriately for a specific industry in an emerging market. The paper found that the model proposed permits a successful calculation of an unlevered beta which significantly correlates with the one estimated through the market line's slope without recurring to any preconceived indicators from developed markets. Also, the CAPM is reconfirmed as an appropriate opportunity cost for valuation, but dismisses inflation and country risk as part of its composition. Additionally, the paper identifies the main challenges among unlevered betas' calculation in emerging countries and proposes future research opportunities regarding this issue.
2

Producción científica

Browse

Filters

Settings

Sort By

Results per page

Search Results