Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/108669
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DC Field | Value | Language |
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dc.contributor.author | Blanco, B. | - |
dc.contributor.author | Garcia Lara, J. | - |
dc.contributor.author | Tribo, J. | - |
dc.date.issued | 2015 | - |
dc.identifier.citation | Journal of Business Finance and Accounting, 2015; 42(3-4):367-411 | - |
dc.identifier.issn | 0306-686X | - |
dc.identifier.issn | 1468-5957 | - |
dc.identifier.uri | http://hdl.handle.net/2440/108669 | - |
dc.description.abstract | We investigate whether segment disclosure influences cost of capital. Improved segment reporting is expected to decrease cost of capital by reducing estimation risk. However, in a competitive environment segment disclosure may also generate uncertainties about future prospects and lead to a larger cost of capital. Asset-pricing tests confirm that segment disclosure is a priced risk factor. Also, segment disclosure reduces ex-ante estimates of cost of equity capital and other measures connected to risk. These results suggest a negative relation between segment disclosure and cost of capital. Our results also show that competition reduces, but does not eliminate, the previous relationship. | - |
dc.description.statementofresponsibility | Belen Blanco, Juan M. Garcia Lara and Josep A. Tribo | - |
dc.language.iso | en | - |
dc.publisher | Wiley | - |
dc.rights | © 2015 John Wiley & Sons Ltd. | - |
dc.source.uri | http://dx.doi.org/10.1111/jbfa.12106 | - |
dc.subject | Segment disclosure; earnings qualty; forecast error; cost of capital | - |
dc.title | Segment disclosure and cost of capital | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1111/jbfa.12106 | - |
pubs.publication-status | Published | - |
Appears in Collections: | Aurora harvest 3 Economics publications |
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RA_hdl_108669.pdf Restricted Access | Restricted Access | 311.78 kB | Adobe PDF | View/Open |
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