Company discounted cashflow and accounting based valuation models on JSE listed firms in South Africa

Simple item page
dc.contributor.authorMafata, Vuyo
dc.date.accessioned2015-09-15T11:45:37Z
dc.date.available2015-09-15T11:45:37Z
dc.date.issued2015
dc.descriptionThesis (M.M. (Finance & Investment))--University of the Witwatersrand, Faculty of Commerce, Law and Management, Graduate School of Business Administration, 2015.en_ZA
dc.description.abstractThe study contributes to the debate on which of the share valuation models between the accounting based and discounted cashflow based valuation models produce an intrinsic share value that is equal to the observed share value. The literature on accounting based valuation models been individual models separately and on general basis with no specific studies on the JSE was done. In this study we focus on the two models, comparing which is superior in producing values close to those observed in the market. The study is based on all firms listed on the main board of the Johannesburg Securities Exchange (JSE) over the period 2004 to 2013. The results show that it is not a given conclusion that the accounting based models are superior to the discounted cashflow models. Individual techniques within the accounting based models perform differently with some performing much worse than the discounted cashflow models. The study demonstrates that the valuation models do not produce intrinsic values that are equal to the observed prices, though there were results showing some models producing values that are much closer to the observed values.en_ZA
dc.identifier.urihttp://hdl.handle.net/10539/18645
dc.language.isoenen_ZA
dc.titleCompany discounted cashflow and accounting based valuation models on JSE listed firms in South Africaen_ZA
dc.typeThesisen_ZA
Files
Original bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
Final Research Report- Vuyo Mafata 957251.pdf
Size:
747.84 KB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
ETD Collection