Oceňování 2020, 13(3):51-64 | DOI: 10.18267/j.ocenovani.254

Selecting a peer group of companies for valuation and outline of future research using machine learning

Veronika Staňková¹, Miloš Mařík²

¹ Ing. Veronika Staňková, doktorand, Katedra financí a oceňování podniku VŠE Praha

² Prof. Ing. Miloš Mařík, CSc., Katedra financí a oceňování podniku VŠE Praha, ředitel Institutu oceňování majetku VŠE Praha

This article deals with peer group selection for the purpose of the market valuation approach. The academic professional public does not agree on the optimal approach in respect of the peer group selection. Therefore, in this article we start with a synthesis of the current literature on this matter, including a description and discussion of the three main approaches, namely: (i) aggregated groups based on industry classification, (ii) search for fundamental indicators and (iii) alternative methods using the big data. Following is the explanation of machine learning applied in the finance and an outline of future research in which we want to verify the potential of machine learning algorithms in selecting a comparable group of companies.

Keywords: Market valuation approach; Peer group; Machine learning

Grants and funding:

Článek je zpracován jako jeden z výstupů výzkumného projektu IG104020, který je realizován na Fakultě financí a účetnictví VŠE Praha.

JEL classification: G12

Published: December 28, 2020  Show citation