A unified model for assessing capital sources has been developed, with the maximum possible composition and structure of sources, ensuring implementation multivariate calculations analysis impact price each source on weighted average cost capital, contributing to expansion information base optimizing according criterion minimizing its

This study examines the contracting benefits of accounting conservatism on international debt and equity markets. Results show that firms domiciled in countries with more conservative financial reporting systems have significantly lower cost of debt and equity capital, after controlling for differences in legal institutions and securities regulations. I use one-year-ahead interest rate to measu...

We study the investment behavior of foreign investors in association with an equity market liberalization, and find a strong link between foreigners trading and local market returns. In the period following the liberalization, net purchases by foreign investors induced a permanent increase in stock prices, suggesting that local firms reduced their cost of equity capital. We also find a strong l...

In his 2005 ASTIN paper (reprinted in the CAS 2006 Fall Forum), Donald Mango's ground-breaking work [1] in developing the concepts of insurance capital as a shared asset and Economic Value Added (EVA) are discussed with special emphasis on the purpose and calculation of the important Capital Call Costs. The EVA approach permits one to charge for risk (capital usage) and measure profitability at...