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Earnings Valuation And Sources Of Growth

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Author Info
Sherrill Shaffer ()

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Abstract

A structural discounted cash flow (DCF) model shows that the underlying sources of earnings growth generate very different growth paths and equity values than assumed in traditional DCF calculations. Moreover, the structural DCF model can assess the impact of exogenous factors on valuation, uncovering new costs of deflation or high inflation among other results. These findings have important implications for researchers, policy makers, and practitioners.

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File URL: http://cama.anu.edu.au/Working%20Papers/Papers/2008/Shaffer_322008.pdf
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Publisher Info
Paper provided by Australian National University, Centre for Applied Macroeconomic Analysis in its series CAMA Working Papers with number 2008-32.

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Length: 32 pages
Date of creation: Oct 2008
Date of revision:
Handle: RePEc:acb:camaaa:2008-32

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Find related papers by JEL classification:
G12 - Financial Economics - - General Financial Markets - - - Asset Pricing
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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