EMH, Earning Multiples and Common Stock Valuation: The Case of Dhaka Stock Exchange

2015 ◽  
Vol 11 (2) ◽  
pp. 62-76
Author(s):  
Mohan Roy ◽  
Mohammad Ashrafuzzaman
Keyword(s):  
Stock Exchange ◽  
Common Stock ◽  
Stock Valuation

scholarly journals PENGARUH FAKTOR FUNDAMENTAL TERHADAP PENILAIAN SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

2017 ◽  
Vol 4 (2) ◽  
pp. 78
Author(s):  
Muthia Harnida
Keyword(s):  
Firm Size ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Present Value ◽  
Return On Assets ◽  
Stock Valuation ◽  
Financial Report ◽  
Fundamental Factor ◽  
Earnings Per Share ◽  
Price Earnings Ratio

The approaches of stock valuation can be used by the investor using  the approaches of present value and price earnings ratio. This research is to investigate the effect of fundamental analysis on the stock valuation using the approach of price earnings ratio. The fundamental factor uses some variables such as dividend yield, return on assets, leverage, firm size and growth of earnings per share. The sample is manufacturing companies listed in Indonesian Stock exchange for the period of financial report of 2013 until 2015.            The result indicates that statistically dividend yields, leverage, firm size, and return on assets have significant effect on the stock valuation of price earnings ratio, but  growth of earnings  per share does not affect the stock valuation.

A Simplified Common Stock Valuation Model

1984 ◽  
Vol 40 (5) ◽  
pp. 49-56 ◽  
Author(s):  
Russell J. Fuller ◽  
Chi-Cheng Hsia
Keyword(s):  
Common Stock ◽  
Stock Valuation ◽  
Valuation Model

scholarly journals Tadawul and Dubai Financial Market - A Comparative Study

2020 ◽  
Vol 9 (2) ◽  
pp. 45
Author(s):  
Issam Tlemsani ◽  
Fai Albadeen ◽  
Ghada Althaaly ◽  
Maha Aljughaiman ◽  
Hala Bubshait
Keyword(s):  
Comparative Study ◽  
Financial Market ◽  
Growth Rates ◽  
Strong Influence ◽  
Stock Exchange ◽  
Stock Exchanges ◽  
Gdp Growth ◽  
Economic Market ◽  
Stock Valuation ◽  
Better Than

This research is intended to identify the fundamentals of stock valuation and utilize them in the macro analysis and micro valuation of two major stock exchanges ‘Tadawul’ and ‘Dubai Financial Market’. These stock exchanges are compared in terms of their strengths and weaknesses according to significant economic indicators, alongside essential stock market determinants, all the while highlighting relevant relationships among them. Upon assessment, GDP has a strong influence on the valuation of the market and KSA’s GDP growth in the last two years has been slightly higher than UAE’s growth, affecting projected GDP growth rates. Tadawul performed better than DFM in P/E ratio indicating a higher willingness to invest in the Saudi stock exchange as well as a higher return expectation. DFM’s stocks are highly undervalued. It can be concluded that both stock exchanges are strong and competitive respectfully, and their potential for growth depends on the economic market that they originate from.

scholarly journals Performance Evaluation of Stocks’ Valuation Models at MSE

2018 ◽  
Vol 11 (2) ◽  
pp. 7-23
Author(s):  
Zoran Ivanovski ◽  
Zoran Narasanov ◽  
Nadica Ivanovska
Keyword(s):  
Cash Flow ◽  
Stock Prices ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Main Task ◽  
Stock Valuation ◽  
Market Prices ◽  
Valuation Model ◽  
Relative Valuation ◽  
Dcf Model

Abstract Subject and purpose of work: The main task of this paper is to examine the proximity of valuations generated by different valuation models to stock prices in order to investigate their reliability at Macedonian Stock Exchange (MSE) and to present alternative “scenario” methodology for discounted free cash flow to firm valuation. Materials and methods: By using publicly available data from MSE we are calculating stock prices with three stock valuation models: Discounted Free Cash Flow, Dividend Discount and Relative Valuation. Results: The evaluation of performance of three stock valuation models at the MSE identified that model of Price Multiplies (P/E and other profitability ratios) offer reliable stock values determination and lower level of price errors compared with the average stocks market prices. Conclusions: The Discounted Free Cash Flow (DCF) model provides values close to average market prices, while Dividend Discount (DDM) valuation model generally mispriced stocks at MSE. We suggest the use of DCF model combined with relative valuation models for accurate stocks’ values calculation at MSE.

scholarly journals The Impact of Corporate Cultural Behaviour on Common Stock Return: Some Implications for Corporate Governance

2018 ◽  
Vol 80 (1) ◽  
pp. 115-130
Author(s):  
Chamil W. Senarathne
Keyword(s):  
Corporate Governance ◽  
Stock Returns ◽  
Stock Return ◽  
Stock Exchange ◽  
Common Stock ◽  
Listed Firms ◽  
It Impacts ◽  
Research Questions ◽  
The Impact ◽  
The Relationship

AbstractThis paper examines the relationship between common stock return and corporate cultural behaviour of twenty listed firms from Shanghai Stock Exchange. The particular research questions of this study include: whether corporate cultural behaviour impacts common stock returns and under what conditions it impacts shareholder expectations and corporate governance.

scholarly journals ANALISIS NILAI SAHAM DENGAN DIVIDEND DISCOUNT MODEL (DDM) (Studi kasus Perusahaan Tekstil Dan Garmen Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018)

2019 ◽  
Vol 5 (2) ◽  
Author(s):  
Yuliah Yuliah ◽  
Leni Triana ◽  
Ihwan Satria Lesmana
Keyword(s):  
Quantitative Research ◽  
Stock Exchange ◽  
Intrinsic Value ◽  
Investment Decisions ◽  
Market Value ◽  
Sampling Technique ◽  
Stock Valuation ◽  
Research Objects ◽  
Dividend Discount Model ◽  
Constant Growth

AbstrakPenilaian saham digunakan untuk membandingkan antara nilai intrinsik dan nilai pasar saham, yang mana akhirnya akan dijadikan sebagai dasar keputusan investasi apakah investor akan menjual atau membeli saham. penelitian ini bertujuan untuk mengetahui dan manganalisa hasil dari perhitungan penilaiain saham menggunakan Dividend Discount Model (DDM) dengan model pertumbuhan konstan. Metode  penelitian yang digunakan adalah deskriptif kuantitatif dengan objek penelitian pada perusahaan tekstil dan garmen yang terdaftar di Bursa efek Indonesia tahun 2018. Teknik pengambilan sampel menggunakan puposive sampling dan didapat 5 sampel penelitian. Hasil penelitian ini menunjukkan bahwa dari 5 perusahaan memiliki hasil yang berbeda, dimana saham BELL dan RICY berada dalam kondisi overvalued karena nilai intrinsik lebih rendah dibanding dengan nilai pasar, sedangkan pada saham PBRX, SRIL dan TRIS berada pada posisi undervalued karena nilai intrinsik lebih tinggi dibandingkan dengan nilai pasar.Kata Kunci: Nilai Saham, Dividend Discount Model.AbstractStock valuation uses to compare between intrinsic value and stock market value, which ultimately will be used as a basis for investment decisions whether investors will sell or buy shares. This study aimed to determine and analyze the results of stock valuation calculations using the Dividend Discount Model (DDM) with a constant growth model. The research method used is descriptive quantitative research objects in textile and garment companies listed on the Indonesia Stock Exchange in 2018. The sampling technique uses purposive sampling and obtained five research samples. The results of this study indicate that all of the five companies having different effects. Where BELL and RICY shares were in overvalued conditions because the intrinsic value was lower than the market value, while in PBRX, SRIL and TRIS stocks undervalued because the inherent value is higher than with market value.Keywords: Stock Valuation, Dividend Discount Model.

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