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Does tax return disclosure affect information asymmetry among investors?

Wu, Yuchen - 2021 - This draft: September 2021

Tax return information is often complex and difficult to interpret. Whether its public availability benefits unsophisticated users remains an empirical question. This study examines whether public disclosure of tax return information affects information asymmetry among more- and less-...

Persistent link: https://www.econbiz.de/10012622845

A new measure of equity duration : the duration-based explanation of the value premium revisited

Schröder, David; Esterer, Florian - 2012 - This version: February 29, 2012

This paper uses analysts' forecasts to estimate a share's equity duration, a measure of a company's average cash-flow maturity. We find that short duration equity is associated with high expected and realized returns, which cannot be attributed to the shares' systematic risk exposure as implied...

Persistent link: https://www.econbiz.de/10009671858

Implied Cost of Equity Capital Estimates as Predictors of Accounting Returns and Stock Returns

Larocque, Stephannie - 2017

. This lack of association with future accounting returns appears to affect the ability of ICCs to forecast future stock … current ROE and BM. Our findings suggest that tractable accounting-based models that linearly combine BM and ROE, or other … accounting-based variables, offer improvements on extant ICCs as expected returns proxies …

Persistent link: https://www.econbiz.de/10012973659

SEO Timing, the Cost of Equity Capital, and Liquidity Risk

Lin, Ji-Chai - 2010

This paper uses a simple approach to capture time-varying risks surrounding seasoned equity offerings to shed further light on SEO timing and post-issue underperformance. We find that a steady decline in issuing firms' cost of equity capital to its lowest point prompts them to file SEOs. The...

Persistent link: https://www.econbiz.de/10013148741

The Impact of Cost of Equity on Seasoned Equity Offerings

Zhang, Weiqi - 2014

This paper provides an empirical link between the expected cost of equity and firms' Seasoned Equity Offerings activities, using a novel measure of forward-looking cost of equity. There is a negative impact of expected cost equity on SEO likelihood and amount of proceeds, exists on both market...

Persistent link: https://www.econbiz.de/10013063078

Four essays on investment

Schröder, David (contributor) - 2008

Persistent link: https://www.econbiz.de/10003783017

Do investors price accruals quality? : a reexamination in the implied cost of equity capital

Hwang, Lee Seok; Lim, Seung-yeon - In: Asia-Pacific journal of financial studies 41 (2012) 4, pp. 458-490

Persistent link: https://www.econbiz.de/10009618806

Analysts’ Optimism in Earnings Forecasts and Biases in Estimates of Implied Cost of Equity Capital and Long-Run Growth Rate

Ashton, David J. - 2011

Using a value-weighted rather than an equally weighted regression, Easton and Sommers (2007) show that the upward bias in the risk premium implied by analysts' earnings forecasts falls to 1.6%, but remains statistically and economically significant. In this paper, we argue that any estimation of...

Persistent link: https://www.econbiz.de/10013128708

Analysts' estimates of the cost of equity capital

Balakrishnan, Karthik; Shivakumar, Lakshmanan; Taori, … - In: Journal of accounting & economics 71 (2021) 2/3, pp. 1-27

Persistent link: https://www.econbiz.de/10012533584

Asymmetric effects of informed trading on the cost of equity capital

Brennan, Michael J.; Huh, Sahn-Wook; Subrahmanyam, Avanidhar - In: Management science : journal of the Institute for … 62 (2016) 9, pp. 2460-2480

Persistent link: https://www.econbiz.de/10011577121

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