International Scientific Publications
© 2007-2025 Science Events Ltd
Terms of Use  ·  Privacy Policy
Language English French Polish Romanian Bulgarian
Conference room
Economy & Business 2025, 24th International Conference
17-20 August, Burgas, Bulgaria
Call for Papers

Economy & Business, Volume 9, 2015

ACCURACY OF DIVIDEND DISCOUNT MODEL VALUATION AT MACEDONIAN STOCK- EXCHANGE
Zoran Ivanovski, Zoran Narasanov, Nadica Ivanovska
Pages: 73-83
Published: 20 Jun 2015
Views: 2,943
Downloads: 1,051
Abstract: Many analysts believed that Dividend Discount Model (DDM) is obsolete, but much of the intuition that drives discounted cash flow (DCF) valuation is embedded in the DDM model. The basic task of these research is to test DDM valuation models accuracy at Macedonian Stock Exchange (MSE) as emerging market by analyzing two “blue-chip” stocks, one from banking sector and other from industry. The descriptive statistics and regression analysis were used to determine the level of correlation between the stocks’ intrinsic value and stock market prices as well as to determine statistical significance of companies’ dividends policies and dividend levels for future stock market prices forecasting.
Keywords: valuation, securities, free cash flow, dividends, equity, regression
Cite this article: Zoran Ivanovski, Zoran Narasanov, Nadica Ivanovska. ACCURACY OF DIVIDEND DISCOUNT MODEL VALUATION AT MACEDONIAN STOCK- EXCHANGE. Journal of International Scientific Publications: Economy & Business 9, 73-83 (2015). https://www.scientific-publications.net/en/article/1000817/
Back to the contents of the volume

Submit Feedback

We value your input! Use this form to report any concerns or provide feedback on our published articles. All submissions will be kept confidential.

By using this site you agree to our Privacy Policy and Terms of Use. We use cookies, including for analytics, personalisation, and ads.