In this investigation over 144,000 simulations are undertaken of country equity risk premia, based on a scenario analysis of the uncertainty surrounding the period of non-sustainable growth in earnings and stock returns. Final estimates, from the larger data-sets in Japan, the US and the UK, are...

This paper examines the use of the return on gold instead on treasury bills in empirical asset pricing models in the US equity market. Recent studies have examined the safe-haven and hedging properties of gold in developed markets, particularly during a financial crisis. The close relationship...

The aims of this study were to determine how UK finance practitioners derive and review the cost of capital, and to ascertain whether the final figure varied with the choice of method. To investigate behaviour in the real world a survey questionnaire was employed, eliciting responses from the...