Discussion of who is my peer? A valuation-based approach to the selection of comparable firms

Abstract

Bhojraj and Lee present a new approach to deriving warranted valuation multiples and selecting comparable firms. Gonference participants' comments centered on two key issues. First, participants questioned the motivation for deriving warranted valuation multiples and selecting comparable firms. Second, participants questioned the procedure through which valuation theory was incorporated in the valuation multiple forecasting process.