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- Title
Transparency, Firm Characteristics and Cost of Equity.
- Authors
Cheng-Huei Chiao; Chiou-Fa Lin; Ya-Wen Lai
- Abstract
This paper investigates transparency ranking and firm characteristics on cost of equity. The current literature discussing the transparency ranking impacts almost focuses on developed market in which security law and trading regularity is even stricter than other developing markets. While this paper using Security and Futures Institute's transparency ranking data and Taiwan Stock Exchange, which is a developing market, individuals are major investors to review the issue. Furthermore, this paper expands the discussions in this field compared to existing literature. All in all, we find little influence of transparency ranking on cost of equity although some firm characteristics have significant effect in this respect. Such results have important implication for financial market participators.
- Subjects
ORGANIZATIONAL transparency; CAPITAL costs; TAIWAN Stock Exchange Corp.; INVESTORS; FINANCIAL markets; CORPORATE finance
- Publication
Journal of Accounting & Finance (2158-3625), 2015, Vol 15, Issue 6, p46
- ISSN
2158-3625
- Publication type
Article