this paper examines the accuracy of valuation models in providing reasonable estimation of the market values of listed companies in tehran stock exchange (tse). six valuation models including gordon growth model, two stage dividend discount model, adjusted present value, price to earning ratio and residual income were examined in this study. in addition, three proxies represent the market value...

This paper studies the optimal redistribution of income inequality caused by the presence of search and matching frictions in the labor market. We study this problem in the context of a directed search model of the labor market populated by homogenous workers and heterogeneous firms. The optimal redistribution can be attained using a positive unemployment benefit and an increasing and regressiv...

This bulletin is based on research conducted by Professor Terry Burke and Ms Liss Ralston at the AHURI UNSWUWS Research Centre, and Professor Michael Stone from the University of Massachusetts, USA. The project considered the policy implications of using a different measure for housing affordability— using the residual income rather than the income ratio method. What does the residual income me...

Since 1990 there has been extensive exploration of the meaning of housing affordability by members of the academic, professional and advocacy communities in Britain. These debates have revealed weaknesses in the traditional ratio standard of affordability and led to arguments in support of an alternative, residual income concept of affordability. However, so far there has been only limited succ...

Predictability and variability are two measures commonly used in the empirical literature to gauge the quality of earnings and hence, decision usefulness to investors. We adopt both measures to investigate empirically the relative quality of Stern Stewart’s measure of economic value added (EVA) compared to GAAP earnings, residual income, cash flows and other mandated metrics in the US and UK. W...