DOES FIRM'S LIFE CYCLE STAGES AFFECT THE COST OF EQUITY CAPITAL IN ASIA?

被引：0

作者：

Wadood, Misbah ^{[1
,2
]}

Khan, Hashim ^{[2
]}

Alvi, Muhammad Amir ^{[2
]}

机构：

[1] Int Islamic Univ Islamabad, Fac Management Sci, Dept Accounting & Finance, Islamabad, Pakistan

[2] COMSATS Univ Islamabad, Dept Management Sci, Islamabad, Pakistan

来源：

INTERNATIONAL TRANSACTION JOURNAL OF ENGINEERING MANAGEMENT & APPLIED SCIENCES & TECHNOLOGIES | 2020年 / 11卷 / 15期

关键词：

Company's life cycle; Resource-based views; Retained earnings; Organizational capability; Equity cost; Information asymmetry; INFORMATION; POLICY;

D O I：

10.14456/ITJEMAST.2020.291

中图分类号：

O [数理科学和化学]; P [天文学、地球科学]; Q [生物科学]; N [自然科学总论];

学科分类号：

07 ; 0710 ; 09 ;

摘要：

The research paper focuses on a dynamic resource-based view that highlights a significant change in paths and patterns of the evolution in organizational capability through the life cycle stages. A sample of 830 Asian firms for 2006-2017 is used for analysis. The paper reveals that the cost of equity capital is negatively associated with retained earnings. In the second stage, the study also highlights that cost of equity capital turns out to be lower in the growth and maturity stages and there is a significant difference in determinants of the cost of equity capital during different stages of the life cycle. Disciplinary: Financial Management. (c) 2020 INT TRANS J ENG MANAG SCI TECH.

引用

页数：10

共 50 条

[31] Risk sharing, the cost of equity and the optimal capital structure of the regulated firm
Stones, Clive J.
REVIEW OF INDUSTRIAL ORGANIZATION, 2007, 30 (02) : 139 - 159
[32] Firm-level political risk and implied cost of equity capital
Mishra, Dev R.
INTERNATIONAL REVIEW OF FINANCE, 2023, 23 (03) : 615 - 644
[33] Risk Sharing, the Cost of Equity and the Optimal Capital Structure of the Regulated Firm
Clive J Stones
Review of Industrial Organization, 2007, 30 : 139 - 159
[34] Does financial fraud affect implied cost of equity?
Rind, Asad Ali
Sarang, Aitzaz Ahsan Alias
Kumar, Ameet
Shahbaz, Muhammad
INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, 2023, 28 (04) : 4139 - 4155
[35] Stages of firm life cycle, transition, and dividend policy
Bhattacharya, Debarati
Chang, Chia-Wen
Li, Wei-Hsien
FINANCE RESEARCH LETTERS, 2020, 33
[36] How does private firm disclosure affect demand for public firm equity? Evidence from the global equity market
Kim, Jinhwan
Olbert, Marcel
JOURNAL OF ACCOUNTING & ECONOMICS, 2022, 74 (2-3):
[37] Does FinTech credit affect firms' cost of capital and capital structure?
Girardone, Claudia
Nieri, Laura
Pisera, Stefano
Santulli, Rosalia
EUROPEAN JOURNAL OF FINANCE, 2024,
[38] How does working capital management affect firm profitability in China's agricultural sector?
Liu, Lujing
Xu, Jian
CUSTOS E AGRONEGOCIO ON LINE, 2021, 17 (04): : 72 - 91
[39] When Does Information Asymmetry Affect the Cost of Capital?
Armstrong, Christopher S.
Core, John E.
Taylor, Daniel J.
Verrecchia, Robert E.
JOURNAL OF ACCOUNTING RESEARCH, 2011, 49 (01) : 1 - 40
[40] Does corporate social responsibility affect the cost of capital?
El Ghoul, Sadok
Guedhami, Omrane
Kwok, Chuck C. Y.
Mishra, Dev R.
JOURNAL OF BANKING & FINANCE, 2011, 35 (09) : 2388 - 2406

← 1 2 3 4 5 →