Corporate strategy and the cost of capital:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
Mannheim
2014
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | X, 161 Seiten Illustrationen |
Internformat
MARC
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Datensatz im Suchindex
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| adam_text | Titel: Corporate strategy and the cost of capital
Autor: Siewert, Jan
Jahr: 2014
Contents
Acknowledgments i
List of Tables vii
List of Figures ix
I Introduction 1
1 Overview.................................. 1
2 Measuring the expected return on equity.............. 2
3 Outline of the thesis........................... 5
II Production technology, expected returns, and systematic risk 7
1 Introduction................................ 7
2 Data and methodology.......................... 13
A Sample selection and data sources.............. 13
B Implied cost of capital...................... 14
C Natural hedge.......................... 16
D Other variables.......................... 18
3 Results.................................. . 19
iii
iv Contents
A Summary statistics....................... 19
B Properties of firms with different levels of natural hedge . 20
C Multivariate analysis...................... 21
4 Variation in the effectof the natural hedge on risk premiums . . 24
A Influence ofproduct market competition .......... 24
B Vblatility of input prices and the natural hedge...... 25
5 Additional tests and discussion.................... 27
A Traditional measures of systematic risk........... 27
B Firnis with low leverage.................... 29
C Theroleofnewtechnologies.................. 29
D Potential reverse causality................... 33
6 Conclusion................................. 34
Tables and figures............................... 35
III Investment, risk premiums, and realized returns 53
1 Introduction................................ 53
2 Methodology and Data ......................... 59
A Implied costof capital...................... 59
B Data................................ 61
C Summary statistics....................... 62
3 Expected returns and realized returns................ 63
4 Discount rate and Investment..................... 64
A Mainresults........................... 64
B Additional tests......................... 67
5 Future realized returns of firms that invest............. 71
6 Conclusion................................. 74
Tables and figures............................... 76
IV Innovation and risk premiums 97
1 Introduction................................ 97
2 Data ....................................103
A Implied cost of capital......................103
Contents v
B Patent data............................ 105
C Data set.............................. 107
D Summary statistics....................... 108
3 Main results................................ 109
A Quantityof Innovation..................... 109
B Quality of innovation...................... 113
4 Identification............................... 114
A Indüstry risk premiums .................... 115
B Changes in state corporate income tax rates........ 116
5 Cross-sectional Variation in the sensitivity to the risk premium . 123
A Dependence on external financing.............. 123
B Corporate governance...................... 125
C Discussion............................. 127
6 Conclusion.................................127
Tables and figures...............................129
Bibliography 151
|
| any_adam_object | 1 |
| author | Siewert, Jan 1985- |
| author_GND | (DE-588)1052301126 |
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| dewey-full | 658.1 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.1 |
| dewey-search | 658.1 |
| dewey-sort | 3658.1 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
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| language | English |
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| spelling | Siewert, Jan 1985- Verfasser (DE-588)1052301126 aut Corporate strategy and the cost of capital Jan Siewert Mannheim 2014 X, 161 Seiten Illustrationen txt rdacontent n rdamedia nc rdacarrier Dissertation Universität Mannheim 2014 Kapitalkosten (DE-588)4135348-1 gnd rswk-swf Rendite (DE-588)4049459-7 gnd rswk-swf Eigenkapital (DE-588)4013776-4 gnd rswk-swf Strategisches Management (DE-588)4124261-0 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Strategisches Management (DE-588)4124261-0 s Eigenkapital (DE-588)4013776-4 s Rendite (DE-588)4049459-7 s Kapitalkosten (DE-588)4135348-1 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027417739&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Siewert, Jan 1985- Corporate strategy and the cost of capital Kapitalkosten (DE-588)4135348-1 gnd Rendite (DE-588)4049459-7 gnd Eigenkapital (DE-588)4013776-4 gnd Strategisches Management (DE-588)4124261-0 gnd |
| subject_GND | (DE-588)4135348-1 (DE-588)4049459-7 (DE-588)4013776-4 (DE-588)4124261-0 (DE-588)4113937-9 |
| title | Corporate strategy and the cost of capital |
| title_auth | Corporate strategy and the cost of capital |
| title_exact_search | Corporate strategy and the cost of capital |
| title_full | Corporate strategy and the cost of capital Jan Siewert |
| title_fullStr | Corporate strategy and the cost of capital Jan Siewert |
| title_full_unstemmed | Corporate strategy and the cost of capital Jan Siewert |
| title_short | Corporate strategy and the cost of capital |
| title_sort | corporate strategy and the cost of capital |
| topic | Kapitalkosten (DE-588)4135348-1 gnd Rendite (DE-588)4049459-7 gnd Eigenkapital (DE-588)4013776-4 gnd Strategisches Management (DE-588)4124261-0 gnd |
| topic_facet | Kapitalkosten Rendite Eigenkapital Strategisches Management Hochschulschrift |
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