Investment, Tobin’s q, and interest rates
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Financial Economics"
DOI: 10.1016/j.jfineco.2017.05.013
Abstract: We study the impact of stochastic interest rates and capital illiquidity on investment and firm value by incorporating a widely used arbitrage-free term structure model of interest rates into a standard q theoretic framework. Our… read more here.
Keywords: interest; investment tobin; interest rates; tobin interest ... See more keywords