Journal ArticleDOI
Earnings Quality and the Equity Risk Premium: A Benchmark Model*
TLDR
In this article, the authors propose a model that links earnings quality to the equity risk premium in an infinite-horizon consumption capital asset pricing model (CAPM) economy, where risk-averse traders hold diversified portfolios consisting of risk-free bonds and shares of many risky firms.Citations
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Proceedings ArticleDOI
Environmental, Social and Governance Performance of Companies: The Empirical Research on Their Willingness to Disclose Information
Proceedings ArticleDOI
Research on Applying Radio Frequency Identification Technology at Lithuanian Companies
Journal ArticleDOI
Accruals quality, information risk, and institutional investors’ trading behavior: Evidence from the Korean stock market
TL;DR: In this article, the effect of information risk on the cost of capital using institutional investors' trading behavior was analyzed, showing that institutional investors in firms with lower accruals quality increase their net selling in later years.
Essays on behavioral determinants of earnings quality
TL;DR: In this paper, the authors investigated the potential effect of top executives' personal characteristics on financial reporting decision-making; in particular, they focused on those of chief executive officers (CEOs) and chief financial officers (CFOs).
References
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Journal Article
Disclosure level and the cost of equity capital
TL;DR: In this paper, the authors examined the relationship between disclosure level and the cost of equity capital by regressing firm-specific estimates of cost of capital on market beta, firm size and a self-constructed measure of disclosure level.
Journal ArticleDOI
Dividend Policy under Asymmetric Information
Merton H. Miller,Kevin Rock +1 more
TL;DR: In this article, the authors extend the standard finance model of the firm's dividend/investment/financing decisions by allowing the managers to know more than outside investors about the true state of the current earnings.
Journal ArticleDOI
Disclosure, Liquidity, and the Cost of Capital
TL;DR: In this article, the authors studied the causes and consequences of a security's liquidity, especially the effect of future liquidity on the security's current price-equivalently the effect on its required expected rate of return, its cost of capital.
Journal ArticleDOI
Costs of Equity and Earnings Attributes
TL;DR: In this paper, the authors examine the relation between the cost of equity capital and seven attributes of earnings: accrual quality, persistence, predictability, smoothness, value relevance, timeliness, and conservatism.
Journal ArticleDOI
Information and the Cost of Capital
David Easley,Maureen O'Hara +1 more
TL;DR: In this article, the authors investigate the role of information in affecting a firm's cost of capital, and they show that differences in the composition of information between public and private information affect the costs of capital.