Research and publications
A Note on the Valuation of Asset Management Firms
Market capitalisation relative to assets under management is a metric often used to value asset management firms. The dividend discount model of HUBERMAN (2004) implies that cross-sectional variations in this metric are explained by cross-sectional differences in operating margins, yet that does not accord with the evidence from our data set.
Author(s):
Juha Joenväärä, Bernd Scherer
Summary:
Market capitalisation relative to assets under management is a metric often used to value asset management firms. The dividend discount model of HUBERMAN (2004) implies that cross-sectional variations in this metric are explained by cross-sectional differences in operating margins, yet that does not accord with the evidence from our data set.
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Register/Log in| Type : | Working paper |
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| Date : | 05/06/2017 |
| Keywords : |
Asset Management |
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