Tsutomu, MIYAGAWA; Miho, TAKIZAWA; Kazuma, EDAMURA - Research Institute of Economy, Trade and Industry (RIETI) - 2013
Following Corrado et al. (2009), we measure intangible assets at the listed firm level in Japan. Compared to the conventional Tobin's Q, the revised Q including intangibles is almost 1 on average, as suggested by Hall (2000 and 2001). The standard deviation of the revised Q is smaller than that...