With this study we are the first to systematically compare todays two major counterparts as a source of accounting and financial data for researchers: Compustat North America by Standard & Poors and Worldscope by Thomson Financial. This investigation is conducted for U.S. and partly Canadian...

This paper documents the conglomerate discount for all available German firms andthe DAX 30 firms in detail. It shows a moderate discount of about 0.06 based onGerman comparable firms and of about 0.20 for a combined sample of German andEuropean peer groups. I further examine the relationship...

This paper investigates industry classification systems. During the last 50 yearsthere has been a considerable discussion of problems regarding the classification of economic data by industries. From my perspective, the central point of each classification is to determine a balance between...

This paper investigates which comparables selection method generates the mostprecise forecasts when valuing European companies with the enterprise value to EBIT multiple. We also consider the USA as a reference point. It turns out that selecting comparable companies with similar return on assets...