{"id":339,"date":"2007-06-01T15:36:56","date_gmt":"2007-06-01T12:36:56","guid":{"rendered":"http:\/\/hardouvelis.gr\/?p=339"},"modified":"2023-08-02T17:32:02","modified_gmt":"2023-08-02T14:32:02","slug":"impact-emu-equity-cost-capital","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/impact-emu-equity-cost-capital\/","title":{"rendered":"The impact of EMU on the equity cost of capital"},"content":{"rendered":"<p><strong>The impact of EMU on the equity cost of capital<\/strong><br \/>\nAuthors: G. Hardouvelis, D. Malliaropoulos and R. Priestley<br \/>\n<em>Journal: Journal of International Money and Finance, 2007, 26:2, pp.305-327<\/em><br \/>\n<em> ***ranked 69th among the 300 most cited papers in the area of Finance<\/em><\/p>\n<h3>Abstract:<\/h3>\n<p>This paper shows that during the 1990s the process of gradual economic and monetary integration, which eventually led to EMU, also resulted in a reduction in the equity cost of capital. A similar reduction was not present in the three EU countries which chose not to enter the Eurozone. There was also a strong convergence in the cost of equity across the different countries within a given industrial sector, but little convergence across the different sectors of a given EMU country. An implication for portfolio management is that country effects are becoming less important and sectoral effects are becoming more important.<\/p>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2017\/12\/HardouvelisMalliaropoulosPristley2007.pdf\" target=\"_blank\" rel=\"noopener\">Download The impact of EMU on the equity cost of capital pdf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The impact of EMU on the equity cost of capital Authors: G. Hardouvelis, D. Malliaropoulos and R. Priestley Journal: Journal<\/p>\n","protected":false},"author":1,"featured_media":4399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,5],"tags":[3251],"yst_prominent_words":[293,290,287,285,295,291,294,179,297,296,288,286,284,28,289,299,298,49,292],"class_list":["post-339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-academic-publications","category-publications-in-refereed-academic-journals","tag-academic-publications"],"acf":[],"_links":{"self":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/comments?post=339"}],"version-history":[{"count":10,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/339\/revisions"}],"predecessor-version":[{"id":2544,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/339\/revisions\/2544"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media\/4399"}],"wp:attachment":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media?parent=339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=339"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}