Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/25745
DC FieldValueLanguage
dc.contributorSchool of Accounting and Finance-
dc.creatorGong, SXH-
dc.creatorFirth, M-
dc.creatorCullinane, K-
dc.date.accessioned2015-06-23T09:15:19Z-
dc.date.available2015-06-23T09:15:19Z-
dc.identifier.issn0219-0915-
dc.identifier.urihttp://hdl.handle.net/10397/25745-
dc.language.isoenen_US
dc.subjectBeta estimationen_US
dc.subjectRisken_US
dc.subjectStabilityen_US
dc.subjectStock marketen_US
dc.subjectTransportationen_US
dc.titleBeta estimation and stability in the US-listed international transportation industryen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage463-
dc.identifier.epage490-
dc.identifier.volume9-
dc.identifier.issue3-
dc.identifier.doi10.1142/S0219091506000811-
dcterms.abstractAlthough perceived as risk-laden, cyclical businesses with high financial and operating leverage, relatively low beta risks have been documented for the international transportation industry. This paper analyses whether such results are robust to different estimation designs and asserts that previous beta estimates are confounded by sample selection problems. Developing a more representative sample and implementing a number of different estimation designs, a range of industry beta estimates are derived. It is concluded that beta estimates of US-listed international transportation stocks are sensitive to estimation design and that industry beta risk is time-varying. This has implications for the industry cost of capital and pricing policies.-
dcterms.bibliographicCitationReview of Pacific basin financial markets and policies, 2006, v. 9, no. 3, p. 463-490-
dcterms.isPartOfReview of Pacific Basin Financial Markets and Policies-
dcterms.issued2006-
dc.identifier.scopus2-s2.0-33748262621-
dc.identifier.rosgroupidr31662-
dc.description.ros2006-2007 > Academic research: refereed > Publication in refereed journal-
Appears in Collections:Journal/Magazine Article
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