In response to Indranil Dutta, "Health inequality and non-monotonicity of the health related social welfare function"

ArticleinJournal of Health Economics 26(2):422-425 · February 2007with10 Reads
DOI: 10.1016/j.jhealeco.2006.10.004 · Source: RePEc
  • [Show abstract] [Hide abstract] ABSTRACT: We estimate a four-factor model for a sample of financial and nonfinancial firms traded on the Istanbul Stock Exchange (ISE). The factors relate to market return, interest, inflation and exchange rates. By investigating the effects of these factors simultaneously for different exchange rate regimes, we show that market return, interest, inflation, and exchange rates play a separate role in financial and nonfinancial firms' stock returns. We also show that all factors are priced during the period of free float. These results are important for determining financial institutions' cost of capital and for identifying the risks that should be hedged.
    Full-text · Article · May 2009