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Asymmetry and the cost of capital.
(2nd World Finance Conference, Rhodes., 2011)
The expected cost of capital is a crucial component for most of the topics in corporate finance. Unfortunately in the presence of risky debt, it is systematically overestimated. This bias is increasing in leverage and the ...
Valuation in Emerging Markets: A Simulation Approach
(Morgan Stanley, 2010-04)
Most of the foundations of valuation theory have been designed for use in developed markets. Because of the greater, and in some cases different, risks associated with emerging markets (although recent experience might ...
Working Capital Management: An Exploratory Study
(Journal of Applied Finance, 2012)
Working capital management is an issue in which finance research is scarce. One possible reason behind this fact might relate to the relative ease with which efficient financial markets correct deviations from optimal ...
Theory and practice of corporate finance: Evidence and distinctive features in Latin America
(Emerging Markets Review, 2011)
We survey 290 LATAM firms on capital budgeting, cost of capital and capital structure issues. We analyze the results and compare them to those of other studies. We interpret differences according to special features ...