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Integrating Earnings Forecasts, Valuation, and Return Prediction
By Pengguo Wang
0 - Default Title
Description
Each chapter is connected by a central idea: the value of equity and forecasts of future earnings are intrinsically linked in a simple, linear fashion. In line with long-standing capital market practices, the key to implementation lies in using benchmark industry averages of valuation parameters to assess an individual company within its industry. Importantly, all relevant industry-level valuation parameters are estimated simultaneously within the model framework.
This results in a cohesive system for forecasting one-year-ahead earnings, valuing equity, and predicting returns—all within a unified framework. This approach stands in contrast to traditional discounted cash flow (DCF) methods, where investment practitioners typically forecast future cash flows (dividends or earnings) and estimate the discount rate separately.
The book appeals not only to academics, but also provides practical insights for investment professionals, including fund managers engaged in stock-picking, business managers involved in M&A and IPO activities, and corporate managers making capital budgeting decisions.
Product details
Number of Pages:
140
Release Date:
2025-10-30
Publication Date:
2025-10-30
Publisher:
Springer
Languages:
Original:
English
ISBN10:
3032059097
ISBN13:
9783032059093
GPSR Manufacturer Reference:
Weight:
381 g
Height:
160 cm
Width:
241 cm
Thickness:
14 cm
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