impliedcosthvzcapital隐含earnings EvaluatingCross-SectionalForecastingModelsfor ImpliedCostofCapital by KevinLi UniversityofToronto kevin.li@rotman.utoronto.ca and ParthaMohanram* UniversityofToronto partha.mohanram@rotman.utoronto.ca Abstract:Thecomputationofimpliedcostofcapital(ICC)isconstrainedbythefactthataro...
Capital Asset Pricing ModelImplied cost of capital has been a research method to measure ex-ante market risk premia using analysts' forecasts and observable share prices. Despite its theodoi:10.2139/ssrn.2190753Fabian EchterlingBrigitte Eierle
IMPLIED COST OF CAPITAL WITH STATA Dr. Jun Gu E-mail: gujun@szu.edu.cn Department of Accounting School of Economics, Shenzhen University 第二届Stata中国用户大会 本报告主要内容 ■ 内含资本成本(Implied Cost of Capital)的主要计算方法: – 内含资本成本简介 – 内含资本成本计算流程 – 内含资本成本...
Theimpliedcostofcapital:Anewapproach $ KeweiHou a,n ,MathijsA.vanDijk b ,YingleiZhang c a FisherCollegeofBusiness,TheOhioStateUniversity,2100NeilAvenue,Columbus,OH43210,UnitedStates b RotterdamSchoolofManagement,ErasmusUniversity,3000DRRotterdam,TheNetherlands c SchoolofAccountancy,ChineseUniversityofHongKon...
implied cost of capitaldiscount rateIn this study, we examine the relation between implied cost of capital and expected returns under an assumption that expected returns are stochastic, a propertydoi:10.2139/ssrn.1028882Hughes, John S.Liu, Jing...
We use earnings forecasts from a cross-sectional model to proxy for cash flow expectations and estimate the implied cost of capital (ICC) for a large sample of firms over 1968–2008. The earnings forecasts generated by the cross-sectional model are superior to analysts' forecasts in terms of ...
► We propose a new approach to estimate the implied cost of capital (ICC). ► We estimate the ICC using the earnings forecasts from a cross-sectional model. ► Our model produces earnings forecasts that are superior to analysts' forecasts. ► The model-based ICC is a reliable proxy...
The computation of implied cost of capital (ICC) is constrained by the lack of analyst forecasts for half of all firms. Hou et al. (J Account Econ 53:504–526, 2012 , HVZ) present a cross-sectional model to generate forecasts in order to compute ICC. However, the forecasts from the ...
Journal of Accounting Research Vol. 39 No. 1 June 2001 Printedi n . Toward an Implied Cost of Capital WILLIAM R. GEBHARDT,* CHARLES M. C. LEE,* AND BHASKARAN SWAMINATHAN* Received 15January 1999; accepted 13 September 2000 ABSTRACT In this study, we propose an alternative technique for es...
I show that this model offers incremental explanatory power in predicting future earnings and in estimating the associated implied cost of capital. My forecasting model exhibits less bias than human analyst forecasts and fits the data substantially better than linear regression models. In addition, the...