PT - JOURNAL ARTICLE AU - Bradford Cornell TI - Equity Duration, Growth Options, and Asset Pricing AID - 10.3905/jpm.2000.319725 DP - 2000 Apr 30 TA - The Journal of Portfolio Management PG - 105--111 VI - 26 IP - 3 4099 - https://pm-research.com/content/26/3/105.short 4100 - https://pm-research.com/content/26/3/105.full AB - 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.