Corporate Investment: Empirical Evidence for Alternative Propensities
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Note: Acknowledgments: For their helpful comments, we thank Bruce Petersen, Richard Smith, Tracy Wang, Neng Wang, Lingling Wang, and seminar participants at the University at Buffalo, the University of Kansas, McMaster University, the 2007 and 2010 FMA meetings, the 2010 FMA European meetings, and the 2011 American Economic Association meeting, where earlier drafts of this paper were presented. This paper is based on Wu¡¯s dissertation completed at the University at Buffalo. Ogden acknowledges support from a UB SOM Summer Research grant.
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More about this item
Keywords
Corporate investment; Tobin's q; Capital expenditures; R&D; Propensity;All these keywords.
JEL classification:
- G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
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