The effect of non-financial risk information on the evaluation of implied cost of capitals

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Norio Kitagawa; Hyonok Kim; Masatoshi Goto;
  • Publisher: 神戸大学大学院経営学研究科
  • Journal: 神戸大学経営学研究科 Discussion paper,volume 2011・07
  • Subject: implied cost of capital; risk factors; non-financial risk information

The purpose of this paper is to examine the effect of voluntary disclosure of `business risk' information (hereafter referred to as `risk information' ), which is a significant determinant of the information environment, on estimating the cost of capital. Recently, some... View more
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