The Comparison of the Denoted Price in Government Firms Including Privatization with Two Models , Growth Index Model of the Value and Price-Book Value of Stock Model of Similar Firms

اقتصاد پولی مالی

Article 4, Volume 17, Issue 32, January 2011   

Document Type: پژوهشی

DOI: 10.22067/pm.v17i32.27267

Authors

Mohammad Hossein Vadiei^* ; Said Asyabani

Abstract

Nowadays reforming, of the ownership structure, from governmental ownership to privatization ownership, is a way of gaining constant and dynamic development. One of the best ways of privatization is denoting stocks by stock change and one of the most important factors to reach its fulfillment is how to price the denoted stocks. So far due to the importance and greatness of pricing stocks, many models based on different schools of thought have been offered that regarding with economic, politic, regional and other conditions have had various and different usages.
In this research, the denoted price in government firms including privatization was compared with the pricing of the stocks of the mentioned firms based on theoretical- Scientific models in Tehran Stocks. So, Growth Index Model of the Value and Price-Book Value of Stock Model of similar firms were selected from evaluation models of stocks in point of comparable firms' view, and then the stock prices of government firms including denoted were calculated and compared based on these models during 1384-1386.
The Results showed that the prices of denoted stocks (denoted by Privatization Organization) in compared with those obtained from Growth Index of similar firms, were closed, but not to the model based on street price to book price of the similar firms' price.

Keywords

Privatization; Comparable firms; Priced stocks; Price-Book Value; Government firms; Growth Index