20币求文献一篇

Lee, C.,Ng,D.,Swaminathan,B.,2009.International asset pricing:
evidence from the cross section of implied cost of capital. Journal of
Financial and Quantitative Analysis 44,307–335.

有出入，也许你已经看过了，希望有用。

这个应该是对的。


而这个页面http://papers.ssrn.com/sol3/papers.cfm?abstract_id=485762下载的文件标题不符。


Lee, Charles M.C., Ng, David and Swaminathan, B., International Asset Pricing: Evidence from the Cross Section of Implied Cost of Capital (November 1, 2003). 14th Annual Conference on Financial Economics and Accounting (FEA). Available at SSRN: http://ssrn.com/abstract=485762 or http://dx.doi.org/10.2139/ssrn.485762

1. International Asset Pricing: Evidence from the Cross Section of Implied Cost of Capital
   
2. 
   
3. Charles M.C. Lee
   
4. 
   
5. Stanford University - Graduate School of Business
   
6. 
   
7. David Ng
   
8. 
   
9. Cornell University
   
10. 
    
11. B. Swaminathan
    
12. 
    
13. LSV Asset Management; Johnson Graduate School of Management
    
14. 
    
15. 
    
16. November 1, 2003
    
17. 
    
18. 14th Annual Conference on Financial Economics and Accounting (FEA)
    
19. 
    
20. Abstract:     
    
21. This study presents a new methodology for estimating international cost of capital. Using a discounted cash flow model, we estimate market implied risk premia for firms in the G-7 countries during the 1990 to 2000 time period. We find that the average risk premia in G-7 countries typically fall within a narrow range of 2% to 4%, and that risk premia are consistently higher for some countries and industries. Variables most useful in explaining cross-sectional variation in implied risk premia are return volatility, size, B/M ratio, analyst growth forecast, and lagged industry-country risk premia. Together, these variables explain 20% to 30% of the cross-sectional variation in international risk premia. Interestingly, beta measures from various international asset pricing models have little explanatory power, while betas corresponding to empirical size and book-to-market factors do much better.
    
22. 
    
23. Number of Pages in PDF File: 48
    
24. Working Paper Series

复制代码

谢谢了!我需要的是正式版的。