Cost of capital to the hospital sector.
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.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.mimetype | application/pdf | |
dc.identifier | ||
dc.identifier.issn | 0167-6296 | |
dc.identifier.uri | ||
dc.language | eng | |
dc.language.iso | en_US | |
dc.publisher | Elsevier BV | |
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 | |
pubs.author-url | ||
pubs.begin-page | 25 | |
pubs.end-page | 45 | |
pubs.issue | 1 | |
pubs.organisational-group | Center for Child and Family Policy | |
pubs.organisational-group | Center for Population Health & Aging | |
pubs.organisational-group | Duke | |
pubs.organisational-group | Duke Population Research Center | |
pubs.organisational-group | Duke Population Research Institute | |
pubs.organisational-group | Economics | |
pubs.organisational-group | Global Health Institute | |
pubs.organisational-group | Institute of Public Policy | |
pubs.organisational-group | Institutes and Provost's Academic Units | |
pubs.organisational-group | Public Policy Studies | |
pubs.organisational-group | Sanford School of Public Policy | |
pubs.organisational-group | School of Nursing | |
pubs.organisational-group | School of Nursing - Secondary Group | |
pubs.organisational-group | Trinity College of Arts & Sciences | |
pubs.organisational-group | University Institutes and Centers | |
pubs.publication-status | Published | |
pubs.volume | 7 |