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Advanced Topics in Accounting

Equity Valuation Using Accounting Numbers in the Context of Cyclical and Defensive Industries that are in Economic Growth or Recession

Mark Brown

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GRIN Verlag img Link Publisher

Sozialwissenschaften, Recht, Wirtschaft / Betriebswirtschaft

Beschreibung

Master's Thesis from the year 2012 in the subject Business economics - Investment and Finance, grade: 1, Lancaster University, course: MSc Finance, language: English, abstract: The empirical research in this thesis aims to better understand two complimentary components. First, whether there is a significant difference in the performance of accounting-based valuation models when examined across different industry types (i.e. cyclical or acyclical) and economic states (i.e. growth or recession). Second, how analysts use accounting-based valuation to justify investment recommendations and whether this changes across the samples aforementioned.

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Schlagwörter

accounting, equity, lancaster, defensive, recession, cyclical, accounting-based, acyclical, growth, valuation, economic states