Advanced SearchSearch Tips
A Study on the Enterprise Value Analysis using AHP and Logit Regressions
facebook(new window)  Pirnt(new window) E-mail(new window) Excel Download
 Title & Authors
A Study on the Enterprise Value Analysis using AHP and Logit Regressions
Gu, Seung-Hwan; Shin, Tack-Hyun; Yuldashev, Zafar;
  PDF(new window)
The dissertation presents the portfolio construction method using the score sheet so that general investors can utilize it easily. This study draws the significant variables to contribute the enterprise value and suggests the combined models by applying the single methodology, which private investors can easily utilize. The results of the research can be classified into 2 areas. Firstly, the significantly affecting variables were selected for analyzing the enterprise value. The variables and the method for the enterprise value analysis were studied from the existing researches to choose the optimal variables. The variables were identified by using AHP method and the structure equation method from the investigation of the previous researches. And the critical variables were added extracted from the common denominator of variables which the 3 grue investors used for their investment. The final variables identified are dividend yield, PER, PBR, PCR, EV/EBITDA, ROE, net income, sales growth rate, net current asset, debt ratio, current ratio, rate of operating profits, ratio of operating profit to net sales, ratio of net income to net sales, net profit to total assets, EPS growth rate, inventory turnover ratio, and receivables turnover. Second, the new methodologies for forecasting enterprise value modifying the existing methods were developed. The result of the Logistic regression analysis for forecasting showed that the equation could not be suitable as the accuracy with 91.98%.
Enterprise Value;AHP;Logit Regressions;Investment Strategy;
 Cited by
S. H. Gu. "A study on the development of decision making model for enterprise value analysis", The Graduate School, Seoul National University of Science and Technology, 2014.

S. H. Gu, J. H. Ryu, "Methodological Implications of AHP for Universal Design Evaluation Method", The Journal of the Korea Contents Association, Vol.12, No.7, pp.138-146, 2012. DOI:

S. H. Gu, S. Y. Jang, "A Simulation Study of the Investment Strategy in Stocks on Fundamental Analysis", Journal of The Korean Operations Research and Management Science Society, Vol. 29, No. 2, pp.53-64, 2012. DOI:

S. H. Son, B. H. Yoon, "Anomaly Tests in Size Groups in Korean Stock Market", Korean Journal of Financial Studies, Vol. 40, No. 2, pp.315-345, 2011.

Onnara, Real estate transactions, 2014.

J. Yoo, S. J. jang, "Performances of Strategies of Following Foreign and Korean Institutional Investors", The Korean Journal of Financial Management, Vol. 29, No. 4, pp.29-60, 2012.

J. H. Lee, D. W. Park, "The Stocks Profit Rate Analysis which Uses Individual.Engine.foreigner.Knowledge Base HTS at The Bear Period.The Bear Wave Period. The Bull Period.The Bull Wave Period", Journal of The Korea Society of Computer and Information, Vol. 15, No. 1, pp.207-217, 2010. DOI: crossref(new window)

KOSTAT, Equity investments population trends, 2014. (accessed April, 5, 2014).

Korea Bank, Financial Statement Analysis 2012, 2013. (accessed July, 4, 2014).

KRX, Stock stats, 2014. (accessed June, 11, 2014).

Seasholes. M, "Smart foreign traders in emerging markets", unpublished Harvard Business School working paper, 2000.

Babic, Zoran, Neli Plazibat, "Ranking of enterprises based on multicriterial analysis", International journal of production economics, Vol. 56, pp.29-35, 1998. DOI: