Cl8.10. Suppose one calculated the intrinsic value of two firms using residual earnings techniques withtherisk-free rateasa discount
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Cl8.10. Suppose one calculated the intrinsic value of two firms using residual earnings techniques withtherisk-free rateasa discount rate. Theprice-to-value (PIV) ratio of these twofirms, so calculated, should be the same if theyhave the same risk characteristics. Is thisso?
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Related Book For 
Financial Statement Analysis And Security Valuation
ISBN: 9780071267809
4th International Edition
Authors: Penman-Stephen-H, Steven Penman
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