The aim of this paper is to present the method for estimating the cost of capital of typical portfolios available on the Warsaw Stock Exchange. The authors introduce the three factor Fama-French model and its two modifications. They also apply the bootstrap method to evaluate the variability of...

The primary aims of this study are to identify whether there is any relationship between corporate tax avoidance and the cost of debt, and whether the level of institutional ownership moderates this relationship, with two hypotheses tests on sample of 110 listed firms in the main board of Bursa...

This study examines whether firms can influence their cost of equity (COE) by broadly disseminating their carbon information over Twitter. We study firms' dissemination decisions of carbon information by developing a comprehensive measure of carbon information that a firm makes on Twitter,...

This study examines the role of institutional common owners on a firm's cost of equity capital. Following the theoretical and empirical literature on common ownership, we hypothesize that common owners could reduce a firm's cost of capital by reducing product market competition and improving...

This paper examines whether and how differences in investors' information environment are related to cross-country differences in the market risk premium volatility. We use the vector-autoregressive and implied cost of capital methods to extract time variation in risk premiums for 41 developed...

Researchers have recently studied the interactions between corporate and government bond issuances within many countries. Some conclude that government bonds compete with private bond issuances, while others maintain that government bonds provide valuable reference entities that improve the...

We derive a measure of firm-level regulatory costs from the text of corporate earnings calls. We use this measure to study the effect of regulation on companies' operating fundamentals, growth, leverage, and equity returns. We find that higher regulatory cost results in slower sales growth and...

I apply a new single-pass CAPM methodology for assessing systematic risk to all ASX stocks which indicates that securities which pay franking credits in Australia appear to face far less systematic risk than do stocks that never pay franking credits. But in this context, this apparent reduction...

China is the world's largest investor and greatest contributor to global economic growth by wide margins. The efficiency of its financial system in allocating capital to investment will be important to sustain this growth. This paper shows that China's stock market has a crucial role to play....

Government bonds might provide reference entities that reduce corporate bond yield. We study China's 2017 issuance of two U.S. dollars (USD) denominated sovereign bonds when there were (effectively) no outstanding USD sovereigns. We find that USD-denominated Chinese corporate bonds experienced a...