Kitagawa, Norio; Goto, Masatoshi - Graduate School of Business Administration, Kobe University - 2010
The purpose of this paper is to estimate an alternative implied cost of capital inferred from a valuation model, and consider its validity and use. This paper presents interesting evidence in terms of a comparison with U.S. analysis results. While prior studies (e.g., Gode and Mohanram 2003)...