MARKET MULTIPLES ADJUSTMENTS FOR DIFFERENCES IN RISK PROFILE – AN AIRLINE COMPANY EXAMPLE
Journal Title: INTERNATIONAL JOURNAL FOR TRAFFIC AND TRANSPORT ENGINEERING - Year 2015, Vol 5, Issue 1
Abstract
Companies whose data can be found in databases usually are not comparable enough to the valuation subject to assure direct use of their multiples (i.e. to assure reliability of valuation resulting from direct use of their multiples). Key differences usually relate to size, but also to other characteristics (financial performance, territory, business profile, expected growth, etc.), all of impact on specific risks. This paper shows how to adjust multiples for risk profile differences to achieve satisfactory level of comparability and consequent reliability of valuation on the example of airline company.
Authors and Affiliations
Nina Milenković
Keywords
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- EP ID EP100290
- DOI 10.7708/ijtte.2015.5(1).03
- Views 153
- Downloads 0
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