Capitalization, Valuation of public utilities
Results from an expansion of a 1995 study on yield and direct capitalization support the conclusion that direct capitalization is a more accurate appraisal method than yield capitalization.
Simonds, Richard R.
"Accuracy of the yield and direct capitalization methods: A twenty-year empirical study of the electric utility industry,"
Assessment Journal: Vol. 6:
4, Article 4.
Available at: https://researchexchange.iaao.org/assessment_journal/vol6/iss4/4