The DOI matches its Crossref record; 89 of the 89 references it cites were found in a registry or an index.
The implied cost of capital: A new approach
Open accessAbstract
We use earnings forecasts from a cross-sectional model to proxy for cash flow expectations and estimate the implied cost of capital (ICC) for a large sample of firms over 1968–2008. The earnings forecasts generated by the cross-sectional model are superior to analysts' forecasts in terms of coverage, forecast bias, and earnings response coefficient. Moreover, the model-based ICC is a more reliable proxy for expected returns than the ICC based on analysts' forecasts. We present evidence on the cross-sectional relation between firm-level characteristics and ex ante expected returns using the model-based ICC.
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Cites
Common risk factors in the returns on stocks and bonds
Fama, E. F., & French, K. R. (1993) · Journal of Financial Economics · doi:10.1016/0304-405x(93)90023-5 · Cited by 25,754
The Cross‐Section of Expected Stock Returns
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An Empirical Evaluation of Accounting Income Numbers
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The relationship between return and market value of common stocks
Banz, R. W. (1981) · Journal of Financial Economics · doi:10.1016/0304-405x(81)90018-0 · Cited by 5,922
Fama, E. F., & French, K. R. (1997) · Journal of Financial Economics · doi:10.1016/s0304-405x(96)00896-3 · Cited by 5,669
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The Cross‐Section of Volatility and Expected Returns
ANG, A., HODRICK, R. J., XING, Y., & ZHANG, X. (2006) · The Journal of Finance · doi:10.1111/j.1540-6261.2006.00836.x · Cited by 4,508
Disclosure level and the cost of equity capital.
Botosan, C. A. (1997) · The Accounting Review · doi:10.2308/tar-9709240185 · Cited by 3,436
The market pricing of accruals quality
Francis, J., LaFond, R., Olsson, P., & Schipper, K. (2005) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2004.06.003 · Cited by 3,087
Cited by
Pástor, Ľ., Stambaugh, R. F., & Taylor, L. A. (2022) · Journal of Financial Economics · doi:10.1016/j.jfineco.2022.07.007 · Cited by 1,133
The relevance of environmental disclosures: Are such disclosures incrementally informative?
Clarkson, P. M., Fang, X., Li, Y., & Richardson, G. (2013) · Journal of Accounting and Public Policy · doi:10.1016/j.jaccpubpol.2013.06.008 · Cited by 672
Business sustainability performance and cost of equity capital
Ng, A. C., & Rezaee, Z. (2015) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2015.08.003 · Cited by 650
Do Investors Care About Biodiversity?
Garel, A., Romec, A., Sautner, Z., & Wagner, A. F. (2023) · doi:10.2139/ssrn.4398110 · Cited by 29
Metadata
- Authors
- Hou, K., van Dijk, M. A., & Zhang, Y.
- Venue
- Journal of Accounting and Economics
- Publisher
- Elsevier BV
- Published
- 2012-06
- Volume
- 53
- Issue
- 3
- Pages
- 504-526
- ISSN
- 0165-4101 (ISSN-L)
- OpenAlex
- W3123370480
- Cited by
- 561
- References
- 89
- FWCI
- 38.57
- Type
- journal article
- Language
- en
- Open access
- hybrid
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
