Pragmatic problems in using beta for managerial finance applications

References

• Ang , A and Liu , J . 2004 . How to discount cashflows with time-varying expected returns . Journal of Finance , 59 : 2745 – 84 .
   Web of Science ®Google Scholar
• Brav , A and Heaton , JB . 2002 . Competing theories of financial anomalies . The Review of Financial Studies , 15 : 575 – 606 . Special Issue: Conference on Market Frictions and Behavioral Finance
   Web of Science ®Google Scholar
• Bruner , RF . 2003 . Case Studies in Finance: Managing for Corporate Value Creation , 4th , New York : McGraw-Hill Irwin .
   Google Scholar
• Claus , J and Thomas , J . 2001 . Equity premia as low as three percent? Evidence from analysts's earnings forecasts for domestic and international stock markets . Journal of Finance , 56 : 1629 – 66 .
   Web of Science ®Google Scholar
• Fama , EF and French , KR . 2002 . The equity premium . Journal of Finance , 57 : 637 – 59 .
   Web of Science ®Google Scholar
• Hamada , RS . 1969 . Portfolio analysis, market equilibrium and corporate finance . Journal of Finance , 24 : 13 – 31 .
   Web of Science ®Google Scholar
• Lam , KSK . 2001 . The conditional relation between beta and returns in the Hong Kong stock market . Applied Financial Economics , 11 : 669 – 80 .
   Google Scholar
• Lam , KSK . 1999 . Some evidence on the distribution of beta in Hong Kong . Applied Financial Economics , 9 : 251 – 62 .
   Google Scholar
• Mayfield , ES . 2004 . Estimating the market risk premium . Journal of Financial Economics , 73 : 465 – 96 .
   Web of Science ®Google Scholar
• Shefrin , H and Statman , M . 2000 . Behavioral portfolio theory . The Journal of Financial and Quantitative Analysis , 35 : 127 – 51 .
   Web of Science ®Google Scholar
• Stulz , RM . 1999 . What's wrong with modern capital budgeting . Financial Practice and Education , 9 : 7 – 11 .
   Google Scholar