Daske, Holger; Gebhardt, Günther; Klein, Stefan - 2004
In this study, we develop a technique for estimating a firms expected cost of equity capital derivedfrom analyst consensus forecasts and stock prices. Building on the work of Gebhardt/Lee/-Swaminathan (2001) and Easton/Taylor/Shroff/Sougiannis (2002), our approach allows dailyestimation, using...