Market Value Approximation Using Multiples: An Investigation of American Large-, Mid-, and Small-Cap Stocks
The aim of this paper is to provide answers to questions related to valuation accuracy and error determinants by investigating the US market over the last 15 years (2000-2014). The first questions are related to the market efficiency in its weak form, while the rest of the paper is focused on valuation accuracy using the multiples approach and the error determinant variables that can influence the