Sovereign Wealth Funds and Equity Pricing: Evidence from Implied Cost of Equity of Publicly Traded Target

2018 ◽  
Author(s):  
Sabri Boubaker ◽  
Narjess Boubakri ◽  
Jocelyn Grira ◽  
asma guizani
Keyword(s):  
Cost Of Equity ◽  
Publicly Traded ◽  
Sovereign Wealth Funds ◽  
Equity Pricing ◽  
Implied Cost Of Equity

scholarly journals Option implied cost of equity and its properties

2009 ◽  
Vol 29 (7) ◽  
pp. 599-629 ◽  
Author(s):  
António Câmara ◽  
San-Lin Chung ◽  
Yaw-Huei Wang
Keyword(s):  
Cost Of Equity ◽  
Implied Cost Of Equity

Sovereign Wealth Funds

2017 ◽  
Author(s):  
Nuno Fernandes
Keyword(s):  
Research And Development ◽  
Operating Performance ◽  
High Tech ◽  
Publicly Traded ◽  
Sovereign Wealth Funds ◽  
Intensive Research ◽  
Potential Channels ◽  
Using Data ◽  
Positive Effect ◽  
Large Investment

This chapter examines investments of sovereign wealth funds (SWFs) in publicly traded firms, focusing on how these investments impact firms, and the potential channels through which their effects materialize. Using data that includes SWF holdings in 8,000 firms in 58 countries, we find that SWF investments have a positive effect on firm valuations and operating performance. The results are not driven by any particular SWF and are stronger for foreign SWF holdings. Additionally, we find evidence that after a large investment by SWFs, firms have better monitoring, expand their international operations, and are able to raise more capital as a consequence of the SWF investment. In terms of determinants of their holdings, we find that SWFs prefer large and profitable firms that enjoy significant external visibility. Additionally, they tend not to invest heavily in firms in high-tech industries or those operating in areas involving intensive research and development.

scholarly journals Multiple large shareholders, control contests, and implied cost of equity

2008 ◽  
Vol 14 (5) ◽  
pp. 721-737 ◽  
Author(s):  
Najah Attig ◽  
Omrane Guedhami ◽  
Dev Mishra
Keyword(s):  
Cost Of Equity ◽  
Large Shareholders ◽  
Implied Cost Of Equity
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