Outputs (2)

Rating to economic profit: Valuation properties, implementation issues, and the justification of target prices (2023)
Journal Article
Ballas, A., Chlomou, G., & Demirakos, E. (in press). Rating to economic profit: Valuation properties, implementation issues, and the justification of target prices. Investment Analysts Journal, https://doi.org/10.1080/10293523.2023.2269669

This study offers a comprehensive theoretical and empirical analysis of a fundamentals-based investment criterion (HSBC’s Rating to Economic Profit – REP). By employing a large sample of US-listed firms over a 12-year time-period and conducting univa... Read More about Rating to economic profit: Valuation properties, implementation issues, and the justification of target prices.

How do financial analysts implement the Sum-of-the-Parts (SOTP) valuation framework? (2020)
Journal Article
Chlomou, G., & Demirakos, E. (2020). How do financial analysts implement the Sum-of-the-Parts (SOTP) valuation framework?. International Review of Financial Analysis, 70, Article 101514. https://doi.org/10.1016/j.irfa.2020.101514

In this study, we investigate how financial analysts implement the Sum-of-the-Parts (SOTP) valuation frame-work. Although SOTP constitutes a popular valuation approach among sophisticated practitioners and investors, it is mostly ignored by researche... Read More about How do financial analysts implement the Sum-of-the-Parts (SOTP) valuation framework?.