@article {Cornell105, author = {Bradford Cornell}, title = {Equity Duration, Growth Options, and Asset Pricing}, volume = {26}, number = {3}, pages = {105--111}, year = {2000}, doi = {10.3905/jpm.2000.319725}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Because much of the value of equity depends on option characteristics of investment projects, it is not feasible to calculate equity duration directly. As a result, recent literature has focused on estimating equity duration empirically. Using twenty{\textendash}five size and book{\textendash}to{\textendash}market portfolios, the author shows the estimates of equity duration are critically dependent on the specification of the regression model used to estimate equity duration.}, issn = {0095-4918}, URL = {https://jpm.pm-research.com/content/26/3/105}, eprint = {https://jpm.pm-research.com/content/26/3/105.full.pdf}, journal = {The Journal of Portfolio Management} }