Exchange-listing effects on a firm's cost of equity capital

Research output: Contribution to journalArticle

5 Scopus citations

Abstract

Matched pairs (based on asset size and industry) of a sample of exchange-listed and over-the-counter (OTC) firms are utilized to test for the existence of a statistically significant difference between them with respect to their cost of equity capital. It is found that exchange-listed firm's cost of equity capital (alternatively measured by the systematic risk and the total risk associated with a firm's rate of return) is significantly less than that of comparable OTC firms.

Original languageEnglish (US)
Pages (from-to)139-151
Number of pages13
JournalJournal of Business Research
Volume11
Issue number2
DOIs
StatePublished - Jun 1983

ASJC Scopus subject areas

  • Marketing

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