Differences in the taxation systems in Britain, France, and some other European countries (which use the imputation system) compared with the USA and the Netherlands, among others (which use the classical tax system), mean that the cost of equity capital should be specified, using a capital...

This paper focuses upon differences in the valuation of UK quoted and unquoted companies. It draws on empirical evidence over the period from 1991 to 1997. It commences with an overview of the published literature. This suggests a broad spectrum of valuation statistics ranging from very minor...

The equity premium - the difference between the return achievable from investment in the equity market (RM) and the risk-free rate of return (RF)- plays an important part in corporate finance. The expression equity premium (sometimes referred to as the equity risk premium) is used to denote the...