Effect of Growth Factors on Cost of Capital in Emerging Markets

Student: Kovalev Viktor

Educational Programme: Bachelor

Year of Graduation: 2014

The paper is devoted to estimating the effect of growth factors on companies’ cost of equity in the capital markets of Russia and South Africa. It turns out that the growth factors are significant in explaining the cross section of stock returns in the studied markets. The growth premium is positive in Russia and negative in South Africa.

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