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The Arbitrage Pricing Theory And Cost-Of-Capital Estimation: The Case Of Electric Utilities

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  • David H. Goldenberg
  • Ashok J. Robin

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  • David H. Goldenberg & Ashok J. Robin, 1991. "The Arbitrage Pricing Theory And Cost-Of-Capital Estimation: The Case Of Electric Utilities," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 14(3), pages 181-196, September.
    • Handle: RePEc:bla:jfnres:v:14:y:1991:i:3:p:181-196
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    File URL: http://hdl.handle.net/10.1111/j.1475-6803.1991.tb00656.x
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    References listed on IDEAS

    as
    1. Grinblatt, Mark & Titman, Sheridan, 1983. "Factor pricing in a finite economy," Journal of Financial Economics, Elsevier, vol. 12(4), pages 497-507, December.
    2. Trzcinka, Charles A, 1986. "On the Number of Factors in the Arbitrage Pricing Model," Journal of Finance, American Finance Association, vol. 41(2), pages 347-368, June.
    3. Dybvig, Philip H., 1983. "An explicit bound on individual assets' deviations from APT pricing in a finite economy," Journal of Financial Economics, Elsevier, vol. 12(4), pages 483-496, December.
    4. Lehmann, Bruce N. & Modest, David M., 1988. "The empirical foundations of the arbitrage pricing theory," Journal of Financial Economics, Elsevier, vol. 21(2), pages 213-254, September.
    5. Bower, Dorothy H & Bower, Richard S & Logue, Dennis E, 1984. "Arbitrage Pricing Theory and Utility Stock Returns," Journal of Finance, American Finance Association, vol. 39(4), pages 1041-1054, September.
    6. Litzenberger, Robert & Ramaswamy, Krishna & Sosin, Howard, 1980. "On the CAP M Approach to the Estimation of a Public Utility's Cost of Equity Capital," Journal of Finance, American Finance Association, vol. 35(2), pages 369-383, May.
    7. Chen, Nai-Fu & Roll, Richard & Ross, Stephen A, 1986. "Economic Forces and the Stock Market," The Journal of Business, University of Chicago Press, vol. 59(3), pages 383-403, July.
    8. Michael C. Ehrhardt, 1987. "Arbitrage Pricing Models: The Sufficient Number Of Factors And Equilibrium Conditions," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 10(2), pages 111-120, June.
    9. Roll, Richard & Ross, Stephen A, 1980. "An Empirical Investigation of the Arbitrage Pricing Theory," Journal of Finance, American Finance Association, vol. 35(5), pages 1073-1103, December.
    10. Richard H. Pettway & Bradford D. Jordan, 1987. "Apt Vs. Capm Estimates Of The Return-Generating Function Parameters For Regulated Public Utilities," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 10(3), pages 227-238, September.
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    Cited by:

    1. He, Ling T., 2005. "Instability and predictability of factor betas of industrial stocks: The Flexible Least Squares solutions," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(4-5), pages 619-640, September.
    2. Fama, Eugene F. & French, Kenneth R., 1997. "Industry costs of equity," Journal of Financial Economics, Elsevier, vol. 43(2), pages 153-193, February.
    3. Edward J. Green & Jose A. Lopez & Zhenyu Wang, 2003. "Formulating the imputed cost of equity capital for priced services at Federal Reserve banks," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 55-81.
    4. Jose A. Lopez, 2001. "Federal Reserve banks' imputed cost of equity capital," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue aug10.
    5. Altavilla, Carlo & Bochmann, Paul & De Ryck, Jeroen & Dumitru, Ana-Maria & Grodzicki, Maciej & Kick, Heinrich & Fernandes, Cecilia Melo & Mosthaf, Jonas & O’Donnell, Charles & Palligkinis, Spyros, 2021. "Measuring the cost of equity of euro area banks," Occasional Paper Series 254, European Central Bank.
    6. Gur Huberman & Zhenyu Wang, 2005. "Arbitrage pricing theory," Staff Reports 216, Federal Reserve Bank of New York.

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