ТЕОРИЯ ЗА РЕГИОНАЛНАТА РИСКОВА ПРЕМИЯ. КЛЪСТЕРИЗАЦИЯ НА КАПИТАЛОВИТЕ ПАЗАРИ
A THEORY ON REGIONAL RISK PREMIUM. EQUITY MARKET CLUSTERISATION

Summary/Abstract: One of the key issues in equity valuation is determining the cost of equity and all associated risks. In this cost, market risks constitute an essential part. This paper proves the existence of country/regional risk premium. It also tests a new methodology for clustering the global capital markets into groups. Based on risk specifics, it divides the equity markets into eight groups.

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