P/E ratio and earnings yield adjustment

GENERAL FACTORS:
i. Relative size of interest: reputation of controlling
shareholder Careful: only if it differs!! (If all
firms in the industry is exposed to
ii. Economic prospects: general and industry the same risks, the listed rate is not
iii. Financial and economic indicators: interest rates, etc. adjusted for these risks!)
iv. Buying power of money: impact of inflation
v. Demand for shares in the market: fluctuation in certain
market sectors
vi. Changes in taxation rates 
SPECIFIC FACTORS: iii. Management of the business – experience, reputation
RISKS iv. Size of business; new vs. established
[Where applicable you need to be able to substantiate by support v. Nature of assets (specialized/not; technology)
of calculations why you believe the risk is higher than comparable vi. Financial structure – gearing and financial risk
company] vii. Regularity of and ease of estimating future income
i. Private vs. public company (also: listed or not) viii. Cost structure and break-even point
 Tradability ix. Size of interest
 Bargaining power
 Access to funds GROWTH
 Flexibility & Adaptability i. Capital structure (Financial risk?)
ii. Nature of the business (inherent business risk?) ii. Previous trends (Growth trend?)
 Luxury goods or necessities iii. Limitations on growth (Market? Saturation? Limited product
 Availability of raw materials life cycle?)
 Specialized labor or unskilled iv. Reinvestment of earnings (Dividend policy?)
 Patents (useful life) v. Ability to borrow money (i.e. to attain funds)
 Competitors vi. Capabilities of management (Knowledge, experience?)
vii. Utilization of assets (capacity?)
 Restrictive legislation