کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
967865 1479353 2014 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Country risk and the cost of equity in emerging markets
ترجمه فارسی عنوان
خطر کشور و هزینه عدالت در بازارهای نوظهور
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی

We test whether the country risk variable is a significant risk factor in several CAPM based models of expected equity returns in Argentina, Brazil, Mexico, South Africa, Russia, Turkey and Venezuela. We also test the usual assumption that country risk can be added with a coefficient value of one. Only in Brazil and Mexico the risk premium associated with the country risk factor is significant. Adding country risk with a coefficient value of one is not generally valid and moreover, in Brazil and Mexico the risk premium for country risk takes a negative value. This shows that international investors may look for exposure to country risk.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Multinational Financial Management - Volume 28, December 2014, Pages 15–27
نویسندگان
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