Dolde, Walter; Giaccotto, Carmelo; Mishra, Dev R.; … - In: Managerial Finance 38 (2012) 8, pp. 708-728
Purpose – The purpose of this paper is to assess how much difference it makes for US firms to use the two‐factor ICAPM to estimate their cost of equity instead of a single‐factor CAPM. Design/methodology/approach – For a large sample of US companies, the authors compare the empirical...