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Capital Budgeting and the Capital Asset Pricing Model: Good News and Bad News

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  • Myers, Stewart C
  • Turnbull, Stuart M
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    Bibliographic Info

    Article provided by American Finance Association in its journal Journal of Finance.

    Volume (Year): 32 (1977)
    Issue (Month): 2 (May)
    Pages: 321-33

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    Handle: RePEc:bla:jfinan:v:32:y:1977:i:2:p:321-33

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    Cited by:
    1. John Y. Campbell & Christopher Polk & Tuomo Vuolteenaho, 2005. "Growth or Glamour? Fundamentals and Systematic Risk in Stock Returns," Harvard Institute of Economic Research Working Papers 2082, Harvard - Institute of Economic Research.
    2. McGoun, Elton G., 2003. "Finance models as metaphors," International Review of Financial Analysis, Elsevier, vol. 12(4), pages 421-433.
    3. Pongsak Suttinon & Seigo Nasu, 2010. "Real Options for Increasing Value in Industrial Water Infrastructure," Water Resources Management, Springer, vol. 24(12), pages 2881-2892, September.
    4. Gustavo Manso, 2011. "Feedback Effects of Credit Ratings," 2011 Meeting Papers 1338, Society for Economic Dynamics.
    5. Robert A. Taggart, Jr., 1989. "Consistent Valuation and Cost of Capital Expressions with Corporate and Personal TAxes," NBER Working Papers 3074, National Bureau of Economic Research, Inc.
    6. Myers, Stewart C. & Ruback, Richard S., 1954-, 1987. "Discounting rules for risky assets," Working papers 1853-87., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    7. Lally, Martin, 2000. "Valuation of companies and projects under differential personal taxation," Pacific-Basin Finance Journal, Elsevier, vol. 8(1), pages 115-133, March.
    8. Christopher F Baum, & Mustafa Caglayan & Neslihan Ozkan & Oleksandr Talavera, 2005. "The Impact of Macroeconomic Uncertainty onNon-Financial Firms’ Demandf or Liquidity," Working Papers 2005_26, Business School - Economics, University of Glasgow.
    9. Fernández, Pablo, 1995. "Equivalence of the APV, WACC and flows to equity approaches to firm valuation," IESE Research Papers D/292, IESE Business School.
    10. Booth, Laurence, 2003. "Discounting expected values with parameter uncertainty," Journal of Corporate Finance, Elsevier, vol. 9(5), pages 505-519, November.
    11. Saman Majd & Stewart C. Myers, 1985. "Valuing the Government's Tax Claim on Risky Corporate Assets," NBER Working Papers 1553, National Bureau of Economic Research, Inc.
    12. Marsh, Terry A. & Merton, Robert C., 1984. "Dividend variability and variance bounds tests for the rationality of stock market prices," Working papers 1584-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    13. Manso, Gustavo, 2013. "Feedback effects of credit ratings," Journal of Financial Economics, Elsevier, vol. 109(2), pages 535-548.
    14. Stewart C. Myers & Richard S. Ruback, 1987. "Discounting Rules for Risky Assets," NBER Working Papers 2219, National Bureau of Economic Research, Inc.
    15. Bellalah, Mondher, 2000. "Le choix des investissements et les options réelles : une revue de la littérature," Economics Papers from University Paris Dauphine 123456789/9845, Paris Dauphine University.
    16. Saman Majd & Stewart C. Myers, 1986. "Tax Asymmetries and Corporate Income Tax Reform," NBER Working Papers 1924, National Bureau of Economic Research, Inc.
    17. Samis, Michael & Davis, Graham A. & Laughton, David & Poulin, Richard, 2005. "Valuing uncertain asset cash flows when there are no options: A real options approach," Resources Policy, Elsevier, vol. 30(4), pages 285-298, December.
    18. Sbuelz, Alessandro & Caliari, Marco, 2012. "Revisiting corporate growth options in the presence of state-dependent cashflow risk," European Journal of Operational Research, Elsevier, vol. 220(1), pages 286-294.

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