Bellgardt, Egon; Behr, Andreas - 2002
statistics. The panel data set contains some 2,300 German firms' balance sheet data covering the years 1988-1998. While the Q … calculation of average Q, the direct forecasting approach (Chirinko 1993) suggested by Abel and Blanchard (1986) and extended to … panel data by Gilchrist and Himmelberg (1995, 1998) enables the Q-theory to be applied to non-quoted firms which are by far …