{"title":"“胜者为王”的实际应用——股权国家配置的估值方法比较","authors":"Z. Zaremba, J. Szczygielski","doi":"10.3905/pa.8.3.402","DOIUrl":null,"url":null,"abstract":"Practical Applications Summary In And the Winner Is … A Comparison of Valuation Measures for Equity Country Allocation, from the July 2019 edition of The Journal of Portfolio Management, Adam Zaremba of the University of Dubai and Jan Szczygielski of the Newcastle Business School at Northumbria University examine the performance of 14 valuation ratios to see which are best for country-level equity allocation. They assess seven performance metrics and calculate ratios of each against both enterprise value (EV) and market equity (ME). For individual stocks, the ratio of earnings before interest, tax, depreciation, and amortization (EBITDA) to EV is consistently TOPICS: Accounting and ratio analysis, mutual funds/passive investing/indexing, emerging","PeriodicalId":179835,"journal":{"name":"Practical Application","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2020-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Practical Applications of And the Winner Is … A Comparison of Valuation Measures for Equity Country Allocation\",\"authors\":\"Z. Zaremba, J. Szczygielski\",\"doi\":\"10.3905/pa.8.3.402\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Practical Applications Summary In And the Winner Is … A Comparison of Valuation Measures for Equity Country Allocation, from the July 2019 edition of The Journal of Portfolio Management, Adam Zaremba of the University of Dubai and Jan Szczygielski of the Newcastle Business School at Northumbria University examine the performance of 14 valuation ratios to see which are best for country-level equity allocation. They assess seven performance metrics and calculate ratios of each against both enterprise value (EV) and market equity (ME). For individual stocks, the ratio of earnings before interest, tax, depreciation, and amortization (EBITDA) to EV is consistently TOPICS: Accounting and ratio analysis, mutual funds/passive investing/indexing, emerging\",\"PeriodicalId\":179835,\"journal\":{\"name\":\"Practical Application\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2020-09-23\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Practical Application\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.3905/pa.8.3.402\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Practical Application","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3905/pa.8.3.402","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
摘要
2019年7月出版的《投资组合管理杂志》(the Journal of Portfolio Management)上的一篇文章《赢家是……股票国家配置的估值方法比较》中，迪拜大学的亚当·扎伦巴(Adam Zaremba)和诺森比亚大学纽卡斯尔商学院的简·什齐吉尔斯基(Jan Szczygielski)研究了14种估值比率的表现，看看哪种估值比率最适合国家层面的股票配置。他们评估七个绩效指标，并计算每个指标与企业价值(EV)和市场权益(ME)的比率。对于个股而言，息税折旧摊销前收益(EBITDA)与EV的比率始终如一。主题:会计和比率分析，共同基金/被动投资/指数，新兴市场
Practical Applications of And the Winner Is … A Comparison of Valuation Measures for Equity Country Allocation
Practical Applications Summary In And the Winner Is … A Comparison of Valuation Measures for Equity Country Allocation, from the July 2019 edition of The Journal of Portfolio Management, Adam Zaremba of the University of Dubai and Jan Szczygielski of the Newcastle Business School at Northumbria University examine the performance of 14 valuation ratios to see which are best for country-level equity allocation. They assess seven performance metrics and calculate ratios of each against both enterprise value (EV) and market equity (ME). For individual stocks, the ratio of earnings before interest, tax, depreciation, and amortization (EBITDA) to EV is consistently TOPICS: Accounting and ratio analysis, mutual funds/passive investing/indexing, emerging
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