The cost of capital in Japan : recent evidence of further results / Albert Ando, Alan J. Auerbach.

• We extend our recent work measuring the cost of capital in Japan and the United States by considering several questions that such results raised. Among our findings are: (1) The small firm - large firm distinction appears to be more significant in Japan, not in the United States; (2) Correcting Japanese accounting statements for cross-holding raises the estimated Japanese cost-of-capital by about 1 percentage point; (3) Correcting Japanese accounting statements for unmeasured returns to land has a significantly more important effect: the most conservative correction we attempt raises the implied Japanese return to capital to parity with the United States during the mid-1980's. 

Ämnesord

Capital costs  -- Japan (LCSH)

Capital costs  -- United States (LCSH)

Real property  -- Valuation -- Japan (LCSH)

Corporations  -- Real estate investments -- Japan -- Econometric models (LCSH)

Real estate investment  -- Japan -- Rate of return -- Econometric models (LCSH)

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658.1552 (DDC)

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