TY - JOUR
T1 - Time-varying cost of equity capital in Southeast Asian Countries
AU - Ameer, Rashid
PY - 2007/6/30
Y1 - 2007/6/30
N2 - This paper investigates variation in the cost of equity capital for the Southeast Asian countries using firm-level data over the period of 1990-2004. It is found that decreases in the firm-level cost of equity capital have been associated with stock market liberalization and securities market development. The results of the present study suggest that earlier empirical evidence regarding the decrease in the cost of equity capital using country-level data cannot be generalized to different types of firms. There has been significant time variation in the cost of equity capital within countries and across firms.
AB - This paper investigates variation in the cost of equity capital for the Southeast Asian countries using firm-level data over the period of 1990-2004. It is found that decreases in the firm-level cost of equity capital have been associated with stock market liberalization and securities market development. The results of the present study suggest that earlier empirical evidence regarding the decrease in the cost of equity capital using country-level data cannot be generalized to different types of firms. There has been significant time variation in the cost of equity capital within countries and across firms.
KW - Cost of equity capital
KW - Emerging markets
KW - Institutions
KW - Securities law
KW - Stock market liberalization
UR - http://www.scopus.com/inward/record.url?scp=34447275706&partnerID=8YFLogxK
UR - https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1467-8381.2007.00255.x
U2 - 10.1111/j.1467-8381.2007.00255.x
DO - 10.1111/j.1467-8381.2007.00255.x
M3 - Article
AN - SCOPUS:34447275706
SN - 1351-3958
VL - 21
SP - 207
EP - 238
JO - Asian Economic Journal
JF - Asian Economic Journal
IS - 2
ER -