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dc.contributor.author Sloan, FA
dc.contributor.author Valvona, J
dc.contributor.author Hassan, M
dc.contributor.author Morrisey, MA
dc.coverage.spatial Netherlands
dc.date.accessioned 2010-03-09T15:32:56Z
dc.date.issued 1988-03
dc.identifier http://www.ncbi.nlm.nih.gov/pubmed/10302653
dc.identifier.citation J Health Econ, 1988, 7 (1), pp. 25 - 45
dc.identifier.issn 0167-6296
dc.identifier.uri http://hdl.handle.net/10161/1953
dc.description.abstract This paper provides estimates of the cost of equity and debt capital to for-profit and non-profit hospitals in the U.S. for the years 1972-83. The cost of equity is estimated using, alternatively, the Capital Asset Pricing Model and Arbitrage Pricing Theory. We find that the cost of equity capital, using either model, substantially exceeded anticipated inflation. The cost of debt capital was much lower. Accounting for the corporate tax shield on debt and capital paybacks by cost-based insurers lowered the net cost of capital to hospitals.
dc.format.extent 25 - 45
dc.format.mimetype application/pdf
dc.language eng
dc.language.iso en_US
dc.relation.ispartof J Health Econ
dc.subject Capital Expenditures
dc.subject Capital Financing
dc.subject Costs and Cost Analysis
dc.subject Economics
dc.subject Economics, Hospital
dc.subject Financial Management
dc.subject Hospitals, Proprietary
dc.subject Hospitals, Voluntary
dc.subject Medicaid
dc.subject Medicare
dc.subject Models, Theoretical
dc.subject Ownership
dc.subject Statistics as Topic
dc.subject United States
dc.title Cost of capital to the hospital sector.
dc.type Journal Article
dc.department Economics
pubs.author-url http://www.ncbi.nlm.nih.gov/pubmed/10302653
pubs.issue 1
pubs.organisational-group /Duke
pubs.organisational-group /Duke/Institutes and Provost's Academic Units
pubs.organisational-group /Duke/Institutes and Provost's Academic Units/University Institutes and Centers
pubs.organisational-group /Duke/Institutes and Provost's Academic Units/University Institutes and Centers/Global Health Institute
pubs.organisational-group /Duke/Sanford School of Public Policy
pubs.organisational-group /Duke/Sanford School of Public Policy/Center for Child and Family Policy
pubs.organisational-group /Duke/Sanford School of Public Policy/Duke Population Research Institute
pubs.organisational-group /Duke/Sanford School of Public Policy/Duke Population Research Institute/Center for Population Health & Aging
pubs.organisational-group /Duke/Sanford School of Public Policy/Duke Population Research Institute/Duke Population Research Center
pubs.organisational-group /Duke/School of Nursing
pubs.organisational-group /Duke/School of Nursing/School of Nursing - Secondary Group
pubs.organisational-group /Duke/Trinity College of Arts & Sciences
pubs.organisational-group /Duke/Trinity College of Arts & Sciences/Economics
pubs.organisational-group /Duke/Trinity College of Arts & Sciences/Institute of Public Policy
pubs.organisational-group /Duke/Trinity College of Arts & Sciences/Institute of Public Policy/Public Policy Studies
pubs.publication-status Published
pubs.volume 7

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