Accounting based valuation formulae

James A. Ohlson and Alexsandro Broedel Lopes
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James A. Ohlson: Arizona State University
Alexsandro Broedel Lopes: USP - University of São Paulo

Brazilian Business Review, 2007, vol. 4, issue 2, 95-102

Abstract: In this paper we integrate the PVED, FCF, RIV and AEG valuation models and argue that the AEG model is practically and theoretically superior to their correspondents. We show that a firm’s market price is a function of its expected earnings, short and long term growth in earnings and its cost of capital. We also comment on the empirical validity of the accounting based valuation models in Brazil.

Keywords: accounting based valuation models; PVED; FCF; RI; AEG; Brazil (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:bbz:fcpbbr:v:4:y:2007:i:2:p:95-102

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