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This paper presents the results of cross-sectional regressions to explain DCF discount rates used by investment banks and boutique valuation firms in 2,364 DCF valuations of whole companies, plus companion regressions to explain associated weighted-average costs of capital as calculated by...
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A feature of recent monetary policy asset purchase programmes is the reinvestment policy: the central bank announces to keep the overall volume of assets on its balance sheet constant for some time. In this paper, we systematically assess the macroeconomic effects of such reinvestment policies....
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