Chu, Teresa; Haw, In-Mu; Lee, Bryan; Wu, Woody - In: Review of Quantitative Finance and Accounting 43 (2014) 3, pp. 483-527
This study investigates the governance role of a country’s legal and extra-legal institutions in explaining the variations in firms’ cost of equity capital induced by concentrated ownership structures from 21 countries. Using four implied cost of equity proxies, the results show that the...
