Determinants of the cost of equity of Malaysian firms
A number of Capital Asset Pricing Model (CAPM) and its variants are considered in this paper for exploring the determinants of the cost of equity of Malaysian firms. The semi-deviation approach is shown to yield the highest explanatory power on the returns of firms. The estimates of cost of equity f...
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2010
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my.um.eprints.113072014-12-18T01:45:55Z http://eprints.um.edu.my/11307/ Determinants of the cost of equity of Malaysian firms Foong, S.S. Goh, K.L. HB Economic Theory A number of Capital Asset Pricing Model (CAPM) and its variants are considered in this paper for exploring the determinants of the cost of equity of Malaysian firms. The semi-deviation approach is shown to yield the highest explanatory power on the returns of firms. The estimates of cost of equity from the semi-deviation approach were regressed on a list of potential determinants in a panel model analysis. The results show that firm size, book-to-market ratio, payout ratio and return to equity are negatively related to the cost of equity. 2010-10 Conference or Workshop Item PeerReviewed application/pdf en http://eprints.um.edu.my/11307/1/CS3-H2_Foong%26Goh.pdf Foong, S.S. and Goh, K.L. (2010) Determinants of the cost of equity of Malaysian firms. In: The 12th International Convention of the East Asian Economic Association, 02-03 Oct 2010, Seoul, Korea. |
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| language |
English |
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HB Economic Theory |
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HB Economic Theory Foong, S.S. Goh, K.L. Determinants of the cost of equity of Malaysian firms |
| description |
A number of Capital Asset Pricing Model (CAPM) and its variants are considered in this paper for exploring the determinants of the cost of equity of Malaysian firms. The semi-deviation approach is shown to yield the highest explanatory power on the returns of firms. The estimates of cost of equity from the semi-deviation approach were regressed on a list of potential determinants in a panel model analysis. The results show that firm size, book-to-market ratio, payout ratio and return to equity are negatively related to the cost of equity. |
| format |
Conference or Workshop Item |
| author |
Foong, S.S. Goh, K.L. |
| author_facet |
Foong, S.S. Goh, K.L. |
| author_sort |
Foong, S.S. |
| title |
Determinants of the cost of equity of Malaysian firms |
| title_short |
Determinants of the cost of equity of Malaysian firms |
| title_full |
Determinants of the cost of equity of Malaysian firms |
| title_fullStr |
Determinants of the cost of equity of Malaysian firms |
| title_full_unstemmed |
Determinants of the cost of equity of Malaysian firms |
| title_sort |
determinants of the cost of equity of malaysian firms |
| publishDate |
2010 |
| url |
http://eprints.um.edu.my/11307/1/CS3-H2_Foong%26Goh.pdf http://eprints.um.edu.my/11307/ |
| _version_ |
1643689022268112896 |
| score |
13.160551 |