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1. Calculating the cost of equity in emerging markets...................................................................................... 1
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Calculating the cost of equity in emerging markets
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Resumen: Emerging markets allow investors to access high returns and unique investment opportunities.
However, these opportunities carry high risks. The cost of equity is an appropriate measure of this risk. This
article analyses six dominant models to determine the appropriate approach to estimating the cost of equity in
emerging markets. The models are: 1. Home CAPM (Capital Asset Pricing Model), 2. Local Capital Asset
Pricing Model (LCAPM), 3. International CAPM, 4. country-risk-adjusted CAPM, 5. the multifactor model, 6. the
credit risk model (CRM). Two conclusions emerge: if investors diversify internationally, they should use the
International CAPM; but, if investors do not diversify internationally, they should use the LCAPM.
Materia: Studies; Emerging markets; Cost analysis; CAPM; Models;
Clasificacin: 9130: Experiment/theoretical treatment; 3400: Investment analysis & personal finance
Ttulo: Calculating the cost of equity in emerging markets
Autor: von Jenner, Mark Humphery, SA Fin
Ttulo de publicacin: JASSA
Nmero: 4
Pginas: 21-25
Nmero de pginas: 5
Ao de publicacin: 2008
Fecha de publicacin: 2008
Ao: 2008
Editorial: Finsia - Financial Services Institute of Australasia
Lugar de publicacin: Sydney
Pas de publicacin: Australia
Materia de publicacin: Business And Economics--Investments, Business And Economics--Banking And
Finance
ISSN: 0313-5934
Tipo de fuente: Scholarly Journals
Idioma de la publicacin: English
Tipo de documento: Feature
Caractersticas del documento: Equations Tables Graphs References
ID del documento de ProQuest: 89155122
URL del documento: http://search.proquest.com/docview/89155122?accountid=28391
Copyright: Copyright Finsia - Financial Services Institute of Australasia 2008
ltima actualizacin: 2011-10-06
31 May 2014 Page 1 of 2 ProQuest
Base de datos: ProQuest Central
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