Article by Johannes Baumgartner and Andreas Schüler in: Credit and Capital Markets – Kredit und Kapital, Vol. (2024), Online First : pp. 1-30.
The authors analyse the suitability of the Total Market Return approach in the context of the requirements of the CAPM and for the purposes of company valuation with reference to the recommendations of the IDW. In the first part, the application of the total Market Return Approach is analysed on a theoretical basis. This is followed by an analysis of a large sample of valuation reports by German auditors.
The article is available on the Duncker & Humblot eLibrary at the following link.
