Output details
19 - Business and Management Studies
University of Edinburgh
Industry Cost of Equity Capital: UK Evidence
The published version is substantially different from the earlier working paper, as it went through a full peer-review process. This led to the following changes being made:
1. Additional tests and results strengthening the analysis. These involved new rolling regressions and the inclusion of a fourth model for investigation.
2. The data structure was enhanced to provide a more coherent grouping of industries which considerably strengthen the predictive power of the models.
3. The conclusions have been augmented to specify the extremely important policy implications of the findings.
Thus data, analysis, models tested and conclusions all changed significantly.