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File Info : Malcolm Baker Estimating Industry Multiples | EBOOK DOWNLOAD :ESTIMATING INDUSTRY MULTIPLES |

Contents : Estimating Industry Multiples Malcolm Baker* Harvard University Richard S. Ruback Harvard University First Draft: May 1999 Rev. June 11 1999 Abstract We analyze industry multiples for the S&P 500 in 1995. We use Gibbs sampling to estimate simultaneously the error specification and small sample minimum variance multiples for 22 industries. In addition we consider the performance of four common multiples: the simple mean the harmonic mean the value-weighted mean and the median. The harmonic mean i...[more]

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