Abstract
Matched pairs (based on asset size and industry) of a sample of exchange-listed and over-the-counter (OTC) firms are utilized to test for the existence of a statistically significant difference between them with respect to their cost of equity capital. It is found that exchange-listed firm's cost of equity capital (alternatively measured by the systematic risk and the total risk associated with a firm's rate of return) is significantly less than that of comparable OTC firms.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 139-151 |
| Number of pages | 13 |
| Journal | Journal of Business Research |
| Volume | 11 |
| Issue number | 2 |
| DOIs | |
| State | Published - Jun 1983 |
ASJC Scopus subject areas
- Marketing
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