Lilian Ng

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1Amy Dittmar
1Lu Zhang
1Yan Li
1Jeffrey Wurgler
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We estimate an implied value premium (IVP) using the implied cost of capital methodology. The implied value premium is the difference between the implied costs of capital of value stocks and growth stocks and is a direct estimate of the difference in expected returns between value stocks and growth stocks. We find that IVP is the best predictor of ex-post(More)
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