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All Outputs (2)

Does derivatives use reduce the cost of equity? (2018)
Journal Article
Ahmed, S., Judge, A., & Mahmud, S. E. (2018). Does derivatives use reduce the cost of equity?. International Review of Financial Analysis, 60, 1-16. https://doi.org/10.1016/j.irfa.2018.09.004

This paper examines the impact of hedging on the cost of equity capital. Using handcollected data on derivatives use for a sample of German non-financial firms, we find that user firms have a 109 basis point lower industry-adjusted cost of equity tha... Read More about Does derivatives use reduce the cost of equity?.

Best of the Best: A Comparison of Factor Models (2018)
Journal Article
Ahmed, S., Bu, Z., & Tsvetanov, D. (2018). Best of the Best: A Comparison of Factor Models. Journal of Financial and Quantitative Analysis, 54(4), 1713-1758. https://doi.org/10.1017/S0022109018000947

We compare major factor models and find that the Stambaugh and Yuan (2016) four-factor model is the overall winner in the time-series domain. The Hou, Xue, and Zhang (2015) q-factor model takes second place and the Fama and French (2015) five-factor... Read More about Best of the Best: A Comparison of Factor Models.