Predicting systematic risk: Implications from growth options
نویسندگان
چکیده
منابع مشابه
The impact of growth options on systematic risk: The case of European firms
This paper focuses on an analysis of the relation between systematic risk and growth opportunities from the real options perspective. Assuming the risk of current and future businesses to be independent from ownership (i.e. from whichever firm invests in them), we deduce that the systematic risk of a firm’s equity depends on the weight of growth options on its market value. We test this hypothe...
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ژورنال
عنوان ژورنال: Journal of Empirical Finance
سال: 2010
ISSN: 0927-5398
DOI: 10.1016/j.jempfin.2010.05.003