This empirical study examines knowledge production between 1925 and 2015 in nonprofit and philanthropic studies from quantitative and thematic perspectives. Quantitative results suggest that scholars in this field have been actively generating a considerable amount of literature and a solid...

The capital asset pricing model (CAPM) receives both criticism and widespread adoption by practitioners and academics as the weighted average cost of capital (WACC) equity component. This study introduces two new costs of equity measures to address CAPM criticisms and provide new perspective on...

The capital asset pricing model (CAPM) receives both criticism and widespread adoption by practitioners and academics as the weighted average cost of capital (WACC) equity component. This study introduces two new costs of equity measures to address CAPM criticisms and provide new perspective on...

I show that a more accurate price/earnings (P/E) estimation can be obtained by utilizing an improved measure for P/E. This improved P/E measurement is calculated as a value-weighted average of market securities. A regression using treasury yield data as a proxy for P/E yields a model which is...

In principle, there is no compelling reason for any nation to pay its debts. National sovereignty precludes a creditor nation from attaching assets within the debtor nation's borders and a poor nation usually has few assets outside of its boundaries. In practice, nations do pay their debts. Our...

Linear asset pricing models such as CAPM and the Fama-French 3-factor model rely on a linear approximation of marginal utility growth to discount expected returns. Unconditional estimations of these models are unable to explain the abnormal returns associated with simple strategies based on...