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The Implied Cost of Capital: Based on Chinese Listed Companies

In: The 19th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Hui-guo Sun

    (Tianjin University
    Tianjin Open University)

Abstract

This paper estimates the implied cost of capital inferred from a valuation model of Chinese A-share listed companies and also considers its validity. The implied cost of capital is “expected returns on capital investment” from the shareholders’ point of view, and it has the advantage of revealing more information and mitigating measurement error from the firm level. This paper assesses the quality of alternative ICC estimates and finds that GGM and CT reflect risk more appropriately.

Suggested Citation

  • Hui-guo Sun, 2013. "The Implied Cost of Capital: Based on Chinese Listed Companies," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), The 19th International Conference on Industrial Engineering and Engineering Management, edition 127, chapter 0, pages 271-278, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-38442-4_29
    DOI: 10.1007/978-3-642-38442-4_29
    as

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