Valuing emerging markets companies: New approaches to determine the effective exposure to country risk
Alessandro Giannozzi and
Research in International Business and Finance, 2017, vol. 39, issue PA, 553-567
The aim of the paper is to propose new measures of the effective country risk exposure for companies operating in emerging markets. In particular, we propose seven new approaches and a revised CAPM for emerging markets. We classified the new approaches into “Forward-looking” and “Historical” measures, with the former measures based on growth estimates, and the latter based on the historical growth.
Keywords: Emerging markets; Cost of equity; Country risk premium; Lambda; Company effective risk premium; Company actual risk premium (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:39:y:2017:i:pa:p:553-567
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