Disclosure and Cost of Equity Capital: An Analysis at the Market Level
This study examines whether disclosure reduces the market cost of capital. A stock’s implied cost of capital is defined as the expected return that equates its current price to the present value of its expected future free cash flows. We compute implied costs of capital for each firm and use their a...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2012
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soa_research/1162 https://ink.library.smu.edu.sg/context/soa_research/article/2161/viewcontent/ACC_5b_20Manuscript_20116_20Holly_20Yang_20Wharton_20.pdf |
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| Institution: | Singapore Management University |
| Language: | English |