their U.S. counterparts. The effect of past equity issues on Canadian firms' capital structure is transitory. Canadian firms …

countries, and differences in accounting standards across countries, Canada's cost of equity is statistically different from a …This paper calculates an implied cost of equity for 19 developed countries from 1991 to 2006. During this period, there … has been a decline in the cost of equity of about 10-15 bps per year, which can be partially attributed to declining …