TY - JOUR T1 - Equity Duration, Growth Options, and Asset Pricing JF - The Journal of Portfolio Management SP - 105 LP - 111 DO - 10.3905/jpm.2000.319725 VL - 26 IS - 3 AU - Bradford Cornell Y1 - 2000/04/30 UR - https://pm-research.com/content/26/3/105.abstract N2 - 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–five size and book–to–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. ER -