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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Bibliographic Details
Main Authors: LI, Yan, YANG, Holly I-Hwa
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2012
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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

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