Equity Premia as Low as Three Percent? Evidence from Analysts' Earnings Forecasts for Domestic and International Stock Markets

By James J. Claus, Jacob K. Thomas. 2001

1,434 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/7d6ffa989c2e117cbd19991bbd435550aa757e14

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Omrane Guedhami
2. Christian Leuz
3. Martin Walker
4. Peter D. Wysocki
5. Sadok El Ghoul
6. K. Hussainey
7. Dev R. Mishra
8. Jeffrey A. Pittman

In Finance

1. Omrane Guedhami
2. Christian Leuz
3. Peter D. Easton
4. Dev R. Mishra
5. Sadok El Ghoul
6. Martin Walker
7. K. Hussainey
8. Rodrigo S. Verdi

In Strategy and Management

1. Omrane Guedhami
2. Christian Leuz
3. Martin Walker
4. Dev R. Mishra
5. Luzi Hail
6. Sadok El Ghoul
7. Peter D. Easton
8. K. Hussainey

Citations in the corpus

• Corporate Social Responsibility and Firm Value: Disaggregating the Effects on Cash Flow, Risk and Growth (2013, methodology): “To do so we use the ten year Treasury Bond rate each year, and given the evidence in Claus and Thomas (2001), set the market risk premium at 3.4 percent (although we sensitise our results using alternative estimates of three percent, four percent and five percent, this broad range being consistent…”
• Does corporate social responsibility affect the cost of capital (2011, methodology): “6 Then, in line with Dhaliwal et al. (2006) and Chen et al.”
• Transparency, Liquidity, and Valuation: International Evidence (2009, neutral): “For this reason, we estimate four separate models frequently cited in the literature: 1) the modified PEG ratio model by Easton (2004); 2) the Ohlson and Juettner-Nauroth (2005) model; 3) the Gebhardt, Lee, and Swaminathan (2001) model; and 4) the Claus and Thomas (2001) model.”
• Evidence that Market Participants Assess Recognized and Disclosed Items Similarly when Reliability is Not an Issue (2013, methodology): “To summarize, both Davis-Friday et al. (2004) and Ahmed et al.”
• Does Religion Matter to Equity Pricing? (2012, positive): “…(rAVG) of firms located in less religious counties with that of firms in more religious counties. rAVG is the average implied cost of equity premium obtained from the four models developed by Ohlson and Juettner-Nauroth (2005), Easton (2004), Claus and Thomas (2001), and Gebhardt et al. (2001).”