Building on a model of measurement error in implied cost of capital estimates starting from the underlying primitives, investors' and the researcher's earnings forecasts, I show that market inefficiency will bias the relation between the ICC estimate and the future returns upwards. Using recently ...
reduces firms' costs of capital. We estimate cost of capital effects implied by market prices and ana... L Hail,C Leuz - 《Ssrn Electronic Journal》 被引量: 0发表: 2008年 Properties of implied cost of capital under alternative valuation models and analyst behaviour: evidence from the U.K....
当当书之源外文图书在线销售正版《预订 Estimating the Cost of Capital Implied by Market Prices and Accountin [ISBN:9781601981943]》。最新《预订 Estimating the Cost of Capital Implied by Market Prices and Accountin [ISBN:9781601981943]》简介、书评、试读、价
We examine the influence of political rights on the implied cost of equity capital using a sample of firms from 44 countries. We find that firms' equity fi... N Boubakri,S El Ghoul,W Saffar - 《Journal of Corporate Finance》 被引量: 21发表: 2014年 Option Implied Cost of Equity and ...
To estimate the intrinsic value of the company, you’ve built a DCF model in which the implied market value came out to be $20 billion. DCF-Derived Market Value = $20 billion Using the treasury stock method (TSM), the company’s common share count is one billion on a fully diluted ...
This paper studies the predictability of implied volatility indices of stocks using financial reports tone disagreement from U.S. firms. For this purpose, we build a novel measure of tone disagreement based on financial report tone synchronization of U.S
Interestingly, the same year, Black and Scholes introduced their famous Black–-Scholes (BS) formula [3]. This formula gives the fair price of an option as a function of the stock price, time to maturity, strike price, interest rate and volatility [2]. Since the formula is dynamical, ...
Theequity risk premium (ERP)is a measure of market risk that reflects the excess return that investors demand for investing in stocks over and above therisk-free rate of return. In other words, it is the implied additional compensation that investors require to hold an investment in the broade...
The level ofimplied volatilitypriced into the call options must be sufficient to account for potential losses. The returns of the underlying covered call strategy must be higher than the cost ofborrowed capital. A retail investor can implement a leveraged covered call strategy in a standard broker...
The frenetic activity saw the measure of implied Treasury market volatility jump to its highest level this year. But the aggressive Fed stance appears to be finally gaining traction on longer-term market expectations that finally see some impact on nagging inflation at the cost of causing a bigger...