Hou, Kewei (contributor); Robinson, David T. (contributor) - 2003 - [Elektronische Ressource]
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estimate annual costs of equity from the CAPM and 3-factor model that differ by as much as
a factor of two across industries … from the previous three years
for market β estimates. In addition, it must have COMPUSTAT data on sales, book equity …,
market equity and total assets for its fiscal year ending in year t −1. This data requirement
probably biases our sample …