Who is my peer? A valuation-based approach to the selection of comparable firms

Journal of Accounting Research

Volumn 40, Issue 2, 2002, Pages 407-439

  Bhojraj, Sanjeev ^a   Lee, Charles M C ^a  

^a The Samuel Curtis Johnson Graduate School of Management   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0036591216     PISSN: 00218456     EISSN: None     Source Type: Journal    
DOI: 10.1111/1475-679X.00054     Document Type: Article

References (30)

1. ALFORD, ANDREW W. "The Effect of the Set of Comparable Firms on the Accuracy of the Price-Earnings Valuation Method." Journal of Accounting Research 30(1992): 94-108.
2. BAKER, M., AND R. RUBACK. "Estimating Industry Multiples." Working paper, Harvard University, 1999.
3. BARBER, B., AND J. LYON. "Detecting Long-run Abnormal Stock Returns: The Empirical Power and Specification of Test Statistics." Journal of Financial Economics 43 (1997): 341-72.
4. BENEISH, D. M.; C. M. C. LEE; AND R. TARPLEY. "Contextual Fundamental Analysis through the Prediction of Extreme Returns." Review of Accounting Studies 6 (2001): 165-189.
5. BOATSMAN, J. R., AND E. F. BASKIN. "Asset Valuation with Incomplete Markets." Accounting Review 56 (1981): 38-53.
6. COPELAND, T.; KOLLER; AND J. MURRIN. Valuation: Measuring and Managing the Value of Companies. Second Edition. New York: J. Wiley and Sons, 1995.
7. DAMODARAN, A. Damodaran on Valuation, New York:J. Wiley and Sons, 1994.
8. DEANGELO, L. Equity Valuation and Corporate Control. "Accounting Review 65 (1990): 93-112.
9. FELTHAM, G. A., AND J. A. OHLSON. "Valuation and Clean Surplus Accounting for Operating and Financial Activities." Contemporary Accounting Research 11 (1995): 689-731.
10. FRANKEL, R., AND C. M. C. LEE. "Accounting Valuation, Market Expectation, and Cross-sectional Stock Returns." Journal of Accounting and Economics 25 ( 1998 ): 283-319.
11. GEBHARDT, W. R.; C. M. C. LEE; AND B. SWAMINATHAN. "Toward an Implied Cost of Capital." Journal of Accounting Research 39 (2001): 135-176.
12. GOLZ, W. C., Jr. "Valuation and LBOs." Buyouts & Acquisitions 4 (September/October (1986)): 41-4.
13. HAYN, C. "The Information Content of Losses." Journal of Accounting and Economics 20 (1995): 125-53.
14. KAPLAN, S. N., AND R. S. RUBACK. "The Valuation of Cash Flow Forecasts: An Empirical Analysis." Journal of Finance 50 (1995): 1059-93.
15. KELLOGG, D., AND J. M. CHARNES. "Real-Options Valuation for a Biotechnology Company." Financial Analysts Journal 56 (2000): 76-87.
16. KIM, M., AND J. RITTER. "Valuing IPOs." Journal of Financial Economics 53 (1999 ): 409-437.
17. LEE, C. M. C. "Accounting-based Valuation: Impact on Business Practice and Research." Accounting Horizons 13 (1999): 413-25.
18. _. "Market Efficiency and Accounting Research: A Discussion of 'Capital Market Research in Accounting' by S. P. Kothari." Journal of Accounting and Economics 31 (2001): 233-253.
19. _, J. MYERS, AND B. SWAMINATHAN. "what Is the Intrinsic Value of the Dow?" Journal of Finance 54 (1999): 1693-741.
20. LIU, J.; D. NISSIM; AND J. THOMAS. "Equity Valuation Using Multiples." Working paper, UCLA and Columbia University, December, 1999.
21. LYON, J. D.; B. M. BARBER; AND C. TSAI. "Improved Methods for Tests of Long-run Abnormal Stock Returns." Journal of Finance 54 (1998): 165-201.
22. McCARTHY, E. "Pricing IPOs: Science or Science Fiction?"Journal of Accountancy 188 (September 1999): 51-8.
23. MORGENSEN, G. "How Did So Many Get It So Wrong?" New York Times, December 31, 2000.
24. NISSIM, DORON, AND STEPHEN H. PENMAN. "Ratio Analysis and Equity Valuation: From Research to Practice." Review of Accounting Studies 6 (2001): 109-154.
25. OHLSON,J. A., AND B. E.JUETTNER-NAUROTH. "Expected EPS and EPS Growth as Determinants of Value." Working paper, New York University, September, 2000.
26. OU,J. A., AND S. H. PENMAN. "Financial Statement Analysis and the Prediction of Stock Returns." Journal of Accounting and Economics 11 (1989): 295-329.
27. SCHWARTZ, E. S., AND M. MOON. "Rational Pricing of Internet Companies." Financial Analysts Journal 56 (2000): 62-75.
28. SIMON, H. A. Models of Bounded Rationality: Empirically Grounded Economic Reason, Volume 3. Cambridge, MA: MIT Press, 1997.
29. WOODCOCK, J. "Buying or Selling a Business? Don't Be Ripped off!" Business Quarterly 57 (Autumn 1992): 41-6.
30. ZAROWlN, P. "What Determines Earnings-Price Ratios: Revisited."Journal of Accounting, Auditing, and Finance 5 (1990): 439-57.