Download e-book for iPad: Advanced Topics in Accounting: Equity Valuation using by Konrad Leithäuser

By Konrad Leithäuser

ISBN-10: 364082220X

ISBN-13: 9783640822201

Master's Thesis from the yr 2010 within the topic company economics - Accounting and Taxes, grade: 80,0, Lancaster collage (Lancaster college administration School), direction: MSc of Accounting & monetary administration, language: English, summary: the purpose of this grasp thesis is to appreciate if a firm’s dependency at the over-all enterprise cycle affects the functionality of accounting-based valuation mod-els. I evaluated inventory- and flow-based valuation types and their functionality throughout cyclical and acyclical industries and located that multi-period flow-based versions practice good for cyclical organizations, whereas acyclical organizations are extra thoroughly valued through marketplace multiples (P/E-multiple). In extension of the empirical findings, an research of valuation versions utilized in analyst studies issues out that practitioners don't unavoidably hire the theoretically better valuation strategy to generate their objective costs - whereas virtually used and empirically more advantageous valuation types are constant in acyclical industries, they considerably range in cyclical industries. in addition, the research during this grasp thesis highlights that analysts convey the tendency to undertake various valuation versions depending on the particular cycle phase.

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Advanced Topics in Accounting: Equity Valuation using Accounting Numbers in cyclical and acyclical Industries by Konrad Leithäuser

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