publication . Article . 2015

Uluslararası Entegrasyonun Özsermaye Maliyeti Üzerindeki Etkileri: Turizm Sektörü

Name: Uluslararası Entegrasyonun Özsermaye Maliyeti Üzerindeki Etkileri: Turizm Sektörü
Keywords: cost of equity, CAPM, firm value., Özsermaye Maliyeti, SVFM, Firma Değeri

Sezgin Demir; Yasemin Coşkun Kaderli;

Open Access

Published: 01 Apr 2015

Publisher: Muhasebe ve Finansman Öğretim Üyeleri Bilim ve Araştırma Derneği

Summary

Abstract

In this paper, the cost of equities of the companies listed in the BISTTRZM index in BORSAİSTANBUL were computed by using models which are based on the Capital Asset Pricing Model (CAPM). The results of models using local data were compared with the results of models using global data. Thus the effect of Turkey’s integration of international capital market on the cost of equity was measured. Local and Global Capital Asset Pricing Model (CAPM), Multifactor Global CAPM, Bekaert – Harvey Mixture Model, Goldman Model, Harvey – Viskanta Model, Damadoran Model, Ibbotson Model, CSFB Model and Erb – Harvey – Viskanta Model were used to compute the firms’ cost of equity....

doi: 10.25095/mufad.396539

Subjects

free text keywords: cost of equity, CAPM, firm value., Özsermaye Maliyeti, SVFM, Firma Değeri, Political science, Humanities

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