메뉴 건너뛰기




Volumn 6, Issue 2, 2005, Pages 107-120

Risk and ex ante cost of equity estimates of emerging market firms

Author keywords

Cost of equity; Emerging markets; Global beta; Political risk; Residual income valuation; Total risk

Indexed keywords


EID: 19144371818     PISSN: 15660141     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ememar.2005.03.002     Document Type: Article
Times cited : (25)

References (26)
  • 1
    • 84974313177 scopus 로고
    • Exchange rate fluctuations, political risk, and stock returns: Some evidence from an emerging market
    • W. Bailey P.Y. Chung Exchange rate fluctuations, political risk, and stock returns: Some evidence from an emerging market Journal of Financial and Quantitative Analysis 30 1995 541-563
    • (1995) Journal of Financial and Quantitative Analysis , vol.30 , pp. 541-563
    • Bailey, W.1    Chung, P.Y.2
  • 2
    • 19144369656 scopus 로고    scopus 로고
    • Expropriation Risk and Return in Global Equity Markets
    • Working Paper, Duke University
    • Bansal, R., Dahlquist, M., 2002. Expropriation Risk and Return in Global Equity Markets, Working Paper, Duke University.
    • (2002)
    • Bansal, R.1    Dahlquist, M.2
  • 4
    • 84993905064 scopus 로고
    • Time-varying world market integration
    • G. Bekaert C. Harvey Time-varying world market integration Journal of Finance 50 1995 403-444
    • (1995) Journal of Finance , vol.50 , pp. 403-444
    • Bekaert, G.1    Harvey, C.2
  • 5
    • 13444277738 scopus 로고    scopus 로고
    • Liquidity and expected returns: Lessons from emerging markets
    • Working Paper, Columbia University, Duke University, and Indiana University
    • Bekaert, G., Harvey, C., Lundblad, C., 2003. Liquidity and expected returns: Lessons from emerging markets. Working Paper, Columbia University, Duke University, and Indiana University.
    • (2003)
    • Bekaert, G.1    Harvey, C.2    Lundblad, C.3
  • 6
    • 0039250386 scopus 로고    scopus 로고
    • Equity premia as low as three percent? Evidence from analysts' earnings forecasts for domestic and international stock markets
    • J. Claus J. Thomas Equity premia as low as three percent? Evidence from analysts' earnings forecasts for domestic and international stock markets Journal of Finance 56 2001 1629-1666
    • (2001) Journal of Finance , vol.56 , pp. 1629-1666
    • Claus, J.1    Thomas, J.2
  • 7
    • 0034196509 scopus 로고    scopus 로고
    • Partially segmented international capital markets and international capital budgeting
    • I. Cooper E. Kaplanis Partially segmented international capital markets and international capital budgeting Journal of International Money and Finance 19 2000 309-329
    • (2000) Journal of International Money and Finance , vol.19 , pp. 309-329
    • Cooper, I.1    Kaplanis, E.2
  • 8
    • 33846264382 scopus 로고    scopus 로고
    • Measuring company exposure to country risk: Theory and practice
    • A. Damodaran Measuring company exposure to country risk: Theory and practice Journal of Applied Finance 13 2003 63-75
    • (2003) Journal of Applied Finance , vol.13 , pp. 63-75
    • Damodaran, A.1
  • 9
    • 0037317053 scopus 로고    scopus 로고
    • A simple measure of the intensity of capital controls
    • H.J. Edison F.E. Warnock A simple measure of the intensity of capital controls Journal of Empirical Finance 10 2003 81-103
    • (2003) Journal of Empirical Finance , vol.10 , pp. 81-103
    • Edison, H.J.1    Warnock, F.E.2
  • 13
    • 1342303879 scopus 로고    scopus 로고
    • Inferring the cost of capital using the Ohlson-Juettner model
    • D. Gode P. Mohanram Inferring the cost of capital using the Ohlson-Juettner model Review of Accounting Studies 8 2003 399-431
    • (2003) Review of Accounting Studies , vol.8 , pp. 399-431
    • Gode, D.1    Mohanram, P.2
  • 14
    • 0002565873 scopus 로고    scopus 로고
    • A practical approach to calculating costs of equity for investments in emerging markets
    • S. Godfrey R. Espinosa A practical approach to calculating costs of equity for investments in emerging markets Journal of Applied Corporate Finance 9 1996 80-89
    • (1996) Journal of Applied Corporate Finance , vol.9 , pp. 80-89
    • Godfrey, S.1    Espinosa, R.2
  • 16
    • 17844361877 scopus 로고    scopus 로고
    • International differences in cost of equity capital: Do legal institutions and securities regulations matter?
    • SSRN Working Paper
    • Hail, L., Leuz, C., 2004a. International differences in cost of equity capital: Do legal institutions and securities regulations matter? SSRN Working Paper.
    • (2004)
    • Hail, L.1    Leuz, C.2
  • 17
    • 19144371753 scopus 로고    scopus 로고
    • Cost of capital and cash flow effects of U.S. cross-listings
    • SSRN Working Paper
    • Hail, L., Leuz, C., 2004b. Cost of capital and cash flow effects of U.S. cross-listings. SSRN Working Paper.
    • (2004)
    • Hail, L.1    Leuz, C.2
  • 18
    • 0141872556 scopus 로고    scopus 로고
    • Ex ante cost of equity estimates of S&P 500 firms: The choice between global and domestic CAPM
    • R.S. Harris F.C. Marston D.R. Mishra T.J. O'Brien Ex ante cost of equity estimates of S&P 500 firms: The choice between global and domestic CAPM Financial Management 32 2003 51-66
    • (2003) Financial Management , vol.32 , pp. 51-66
    • Harris, R.S.1    Marston, F.C.2    Mishra, D.R.3    O'Brien, T.J.4
  • 19
    • 21844487168 scopus 로고
    • Predictable risk and returns in emerging markets
    • C.R. Harvey Predictable risk and returns in emerging markets Review of Financial Studies 8 1995 773-816
    • (1995) Review of Financial Studies , vol.8 , pp. 773-816
    • Harvey, C.R.1
  • 20
    • 0042237393 scopus 로고    scopus 로고
    • The drivers of expected returns in international markets
    • C.R. Harvey The drivers of expected returns in international markets Emerging Markets Quarterly 4 2000 1-17
    • (2000) Emerging Markets Quarterly , vol.4 , pp. 1-17
    • Harvey, C.R.1
  • 21
    • 72149131845 scopus 로고    scopus 로고
    • Country risk components, the cost of capital, and returns in emerging markets. Sam Wilkin, Country and Political Risk
    • (in press). Risk Books, London
    • Harvey, C.R., (in press). Country risk components, the cost of capital, and returns in emerging markets. Sam Wilkin, Country and Political Risk. Risk Books, London.
    • Harvey, C.R.1
  • 22
    • 84993891096 scopus 로고
    • The valuation of cash flow forecasts: An empirical analysis
    • S.N. Kaplan R.S. Ruback The valuation of cash flow forecasts: An empirical analysis Journal of Finance 50 1995 1059-1093
    • (1995) Journal of Finance , vol.50 , pp. 1059-1093
    • Kaplan, S.N.1    Ruback, R.S.2
  • 24
    • 0040525113 scopus 로고    scopus 로고
    • Incorporating country risk in the valuation of offshore projects
    • D.R. Lessard Incorporating country risk in the valuation of offshore projects Journal of Applied Corporate Finance 9 1996 52-63
    • (1996) Journal of Applied Corporate Finance , vol.9 , pp. 52-63
    • Lessard, D.R.1
  • 25
    • 0037407014 scopus 로고    scopus 로고
    • The stock return effect of political risk event on foreign joint ventures: Evidence from the Tiananmen Square incident
    • Y. Ma H. Sun A. Tang The stock return effect of political risk event on foreign joint ventures: Evidence from the Tiananmen Square incident Global Finance Journal 14 2003 49-65
    • (2003) Global Finance Journal , vol.14 , pp. 49-65
    • Ma, Y.1    Sun, H.2    Tang, A.3
  • 26
    • 0013407040 scopus 로고    scopus 로고
    • Expected EPS and EPS Growth as determinants of value
    • Working Paper, New York University
    • Ohlson, J.A., Juettner-Nauroth, B.E., 2000. Expected EPS and EPS growth as determinants of value. Working Paper, New York University.
    • (2000)
    • Ohlson, J.A.1    Juettner-Nauroth, B.E.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.