Cost of equity in Singapore.
Our paper examines the cost of equity in the Singapore market using five different pricing models, namely CAPM, CAPM with size premium, Build-up method, Fama and French three-factor model, and Carhart four-factor model. We seek to find the firm-specific, industry and country-level cost of equity whi...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2010
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/38602 |
| _version_ | 1811688356135829504 |
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| author | Foo, Qiao Yun. Ng, Cassie Yi Ting. Teng, Sheng Hua. |
| author2 | Kong Yoon Kee |
| author_facet | Kong Yoon Kee Foo, Qiao Yun. Ng, Cassie Yi Ting. Teng, Sheng Hua. |
| author_sort | Foo, Qiao Yun. |
| collection | NTU |
| description | Our paper examines the cost of equity in the Singapore market using five different pricing models, namely CAPM, CAPM with size premium, Build-up method, Fama and French three-factor model, and Carhart four-factor model. We seek to find the firm-specific, industry and country-level cost of equity which practitioners can use for valuation purposes. Using data collected from 689 firms listed on the Singapore stock exchange from the 1st June 1989 to 1st October 2009, we find the cost of equity based on different lengths of observation windows. The firm-specific cost of equity varies widely (details available upon request). The range of the industry and country-level cost of equity are 6.36% (Telcom) to 23.69% (Construction) and 8.45% to 13.39% respectively, depending on the models used. |
| first_indexed | 2024-10-01T05:30:54Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/38602 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T05:30:54Z |
| publishDate | 2010 |
| record_format | dspace |
| spelling | ntu-10356/386022023-05-19T05:44:58Z Cost of equity in Singapore. Foo, Qiao Yun. Ng, Cassie Yi Ting. Teng, Sheng Hua. Kong Yoon Kee Nanyang Business School DRNTU::Business::Finance::Equity Our paper examines the cost of equity in the Singapore market using five different pricing models, namely CAPM, CAPM with size premium, Build-up method, Fama and French three-factor model, and Carhart four-factor model. We seek to find the firm-specific, industry and country-level cost of equity which practitioners can use for valuation purposes. Using data collected from 689 firms listed on the Singapore stock exchange from the 1st June 1989 to 1st October 2009, we find the cost of equity based on different lengths of observation windows. The firm-specific cost of equity varies widely (details available upon request). The range of the industry and country-level cost of equity are 6.36% (Telcom) to 23.69% (Construction) and 8.45% to 13.39% respectively, depending on the models used. BUSINESS 2010-05-13T01:33:04Z 2010-05-13T01:33:04Z 2010 2010 Final Year Project (FYP) http://hdl.handle.net/10356/38602 en Nanyang Technological University 68 p. application/pdf |
| spellingShingle | DRNTU::Business::Finance::Equity Foo, Qiao Yun. Ng, Cassie Yi Ting. Teng, Sheng Hua. Cost of equity in Singapore. |
| title | Cost of equity in Singapore. |
| title_full | Cost of equity in Singapore. |
| title_fullStr | Cost of equity in Singapore. |
| title_full_unstemmed | Cost of equity in Singapore. |
| title_short | Cost of equity in Singapore. |
| title_sort | cost of equity in singapore |
| topic | DRNTU::Business::Finance::Equity |
| url | http://hdl.handle.net/10356/38602 |
| work_keys_str_mv | AT fooqiaoyun costofequityinsingapore AT ngcassieyiting costofequityinsingapore AT tengshenghua costofequityinsingapore |