Discussion of “on the relation between expected returns and implied cost of capital”
Review of Accounting Studies · 2009 · Volume 14 · Issue 2
DOI: 10.1007/s11142-009-9097-4
Abstract
This paper discusses the paper “On the relationship between expected returns and implied cost of capital” by Hughes, Liu, and Liu. The discussion focuses on developing the intuition behind the mathematical results and on extensions of the analysis that future research could address.
Keywords
Cost of capital, Stochastic
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