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Identifying the value of liquidity : cash flow volatility, real asset liquidity and the implied cost of equity capital

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Figure

Figure 1 contains a visual representation of the theoretical framework. The next chapter elaborates  the methodology applied to test the hypothesized relationships
Table 3: Sample selection method
Table 6: Correlation matrix     Variables  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  1  FirmICC  1  2  FirmICC_pm  .975**  1  3  PotBuy_N  -.068**  -.069**  1  4  PotBuy_FS  -.145**  -.141**  -.171**  1  5  Tot_MA  -.066**  -.064**
Table 7: Cash flow volatility and the implied cost of equity capital: A mean comparison     Implied cost of equity capital for quintiles sorted on CFV measures
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