Kim, Jeong-Bon; Ma, Mary L. Z.; Wang, Haiping - In: China Journal of Accounting Research 8 (2015) 4, pp. 243-277
This study examines the relation between province-level financial development and the cost of equity in China. Our main findings are that (1) stock market development reduces the cost of equity in general, but the effect diminishes significantly in state-owned enterprises (SOEs) and firms with...
