Conservatism in Corporate Valuation

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Bach, Christian;
(2011)
  • Publisher: Institut for Økonomi, Aarhus Universitet
  • Subject: Accounting beta, corporate valuation, Compustat, cost of capital, covariance risk, CRSP, I/B/E/S, residual income, risk adjusted discounting, CAPM, CCAPM

Using a CCAPM based risk adjustment model, consistent with general asset pricing theory, I perform corporate valuations of a large sample of stocks listed on NYSE, AMEX and NASDAQ. The model is different from the standard CAPM model in the sense that it discounts foreca... View more
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