ОЦЕНЯВАНЕ НА ИНДУСТРИАЛНИЯТ СЕКТОР ЧРЕЗ МНОЖИТЕЛЯ „ЦЕНА-ПЕЧАЛБА“ НА ИЗТОЧНОЕВРОПЕЙСКИТЕ РАЗВИВАЩИ СЕ ПАЗАРИ
VALUATION OF THE INDUSTRIAL SECTOR USING P/E RATIO IN THE EASTERN EUROPEAN EMERGING MARKETS

Author(s): Kaloyan Petkov
Subject(s): Economy
Published by: Бургаски свободен университет
Summary/Abstract: The goal of this paper is to test the application of P/E valuation on the EasternEuropean Emerging Markets. The results confirm the practical usefulness of the relative valuation approach and show that there are some arguments of the Leibowitz approach to use ROE as a main driver for the fundamental P/E ratio. Furthermore the empirical testing validates the notion that relative valuation is one of the best approaches to stock picking

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