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The Evaluation of Ordinary Shares

Published online by Cambridge University Press:  03 October 2014

J. B. Marshall
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Synopsis

This paper is concerned with the value of ordinary shares to permanent investors whose capital will never be required for any purpose other than investment in stock exchange securites. After tracing the history of ordinary shares over the past forty years, the paper examines methods of valuation which have been suggested by others and in particular extends and attempts to justify one which has been found useful in practice. The qualitative factors to be taken into account in arriving at the valuation are then considered and the paper closes with an expression of hope that more information will be provided, by researchers and others, on these factors in the future.

Type
Research Article
Information
Transactions of the Faculty of Actuaries , Volume 30 , 1966 , pp. 95 - 157
Copyright
Copyright © Institute and Faculty of Actuaries 1968

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