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Market Equilibrium and the Cost of Capital with Heterogeneous Investment Horizons
RisksExpected returns, variances, betas, and alphas are all non-linear functions of the investment horizon. This seems to be a fatal conceptual problem for the capital asset pricing model (CAPM), which assumes a unique common horizon for all investors.
Moshe Levy, Haim Levy
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THE CAPITAL STRUCTURE AND THE COST OF CAPITAL: COMMENT
The Journal of Finance, 1970IN A RECENT Journal article [1] Haim Ben-Shahar presented a theory of the firm's capital structure from the standpoint of the return-risk framework of investor behavior. He conducts his analysis under "the constraint that the investor has the opportunity to invest his own capital with any proportion of borrowed capital, either in one stock or in a ...
Litzenberger, Robert H, Jones, Charles P
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Cost-effectiveness analysis and capital costs
Social Science & Medicine, 1998Traditionally, economic evaluations in terms of cost-effectiveness analysis are based, explicitly or implicitly, on the assumption of constant returns to scale. This assumption has been criticized in the literature and the role of cost-effectiveness as a tool for decision making has been questioned.
G, Karlsson, M, Johannesson
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RegTech Adoption and the Cost of Capital
Management Science, 2020This paper studies the cost of capital effect of a major regulatory technology, or RegTech, event: the staggered implementation of the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system of the Securities and Exchange Commission in the period from 1993 to 1996.
Sandy Lai, Chen Lin 0005, Xiaorong Ma
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THE COST OF CAPITAL AS A WEIGHTED AVERAGE
The Journal of Finance, 1975IN RESEARCH, teaching, and application we have found it convenient for some time now to compute the cost of capital as a weighted average of the costs of the various sources of capital. This entire notion, though, that the true cost of capital can be computed as a weighted average of the component costs has recently been questioned.
Nantell, Timothy J, Carlson, C Robert
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El Coste Del Capital (The Cost of Capital)
SSRN Electronic Journal, 2013Spanish Abstract: En esta monografia se analiza el coste del capital de la empresa. En concreto: que es, que factores lo determinan, que supuestos basicos son necesarios para su calculo, el coste de las deudas, acciones preferentes y acciones ordinarias, y el coste del capital medio ponderado.English Abstract: In this monograph the cost of capital of ...
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Capital Intensity and the Firm's Cost of Capital
The Review of Economics and Statistics, 1988Recent reports of negative capital intensity coefficients in struct ure-performance equations support allegations of gross measurement error in accounting-based measures of economic profitability. This paper explores whether specification errors, rather than measurement errors alone, may explain this anomalous empirical result.
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CAPITAL MARKETS AND THE COST OF CAPITAL [PDF]
Annals of Computational Economics, 2010 The paper introduces the engrossing subject of the cost of capital obtained through the capital funds markets and helps to set off in bold relief the conditioning relationship of long-run operating decisions to short-run internal and external decision making.
Lect. Sanda Constantin Ph.D +1 more
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