Arbeitspapier
Market structure and the cost of capital
We contribute to the finance literature in two main ways. First, we present a theoretical capital asset pricing model (CAPM) to price assets in different market structures. Second, we use our model to analyze whether when markets are partially segmented using the local or the global CAPM yields significant errors in the estimation of the cost of capital for a sample of firms from developed and emerging countries.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 4097
- Klassifikation
-
Wirtschaft
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Financial Aspects of Economic Integration
International Financial Markets
- Thema
-
finance
international asset pricing
firm's cost of capital segmentation
Kapitalkosten
Capital Asset Pricing Model
International
Finanzmarkt
Marktstruktur
Marktsegmentierung
Theorie
Industriestaaten
Schwellenländer
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Arouri, Mohamed El Hedi
Rault, Christophe
Sova, Robert
Sova, Anamaria
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Arouri, Mohamed El Hedi
- Rault, Christophe
- Sova, Robert
- Sova, Anamaria
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2013
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