preference component is correlated with risk aversion. Perceived ambiguity proves to be related to actual investment choices …

valuable investment opportunities but not for the shareholders of other firms. Accordingly, we find that firms with good … investment opportunities are more likely to issue equity than debt, have a smaller abnormal return in absolute value when the … not have good investment opportunities experience a larger abnormal return in absolute value when the issue is announced …

quarters of the variation in real annual aggregate investment growth between 1948 and 1993. The negative correlation of … contemporaneous investment and stock returns is explained by the negative correlation of planned investment and subsequent stock … returns. Unexpected revisions to aggregate investment (actual minus plan) within a year are essentially unrelated to current …

will have no impact on corporate investment decisions. This paper develops econometric tests which distinguish between … these two views of dividend taxation. By extending Tobin's "q" theory of investment to incorporate taxes at both the … corporate and personal levels, the implications of each view for corporate investment decisions can be derived. The competing …

valuation and investment plans of individual firms. The methods are applied to estimate the effects of alternative corporate tax … reforms on the 30 Dow Jones companies. The estimates are all based on extensions of Tobin's "q Theory of Investment" to take … results here provide strong microeconometric support for the q theory of investment. The q theory approach provides a superior …

This paper overviews the issues connected with proposals to spur investment using tax incentives. There are four main … investment incentives approach $100 billion. (3) Measures to spur investment are likely to have substantial effects. The lags are … possible to spur investment with only a small revenue cost. It is crucial to take account of the effect of anticipated policy …

, potentially spurring productive investment. Low interest rates, however, also induce entrepreneurs to lever up so as to increase … their incentives thereby lowering productivity and discouraging investment. If leverage is unregulated (for example, due to … payouts by stimulating investment in response to adverse shocks only up to a level below the first-best. The optimal monetary …

-preserving investment …

on average q in a univariate regression of investment on average q. In a multiple regression of investment on average q … financial constraint, but it does not indicate a shortage of liquidity to fund current investment. In addition, the coefficient …

The prospect of capital obsolescence inhibits investment. Investors thus become more optimistic when the obsolescence … of their capital slows down. We propose a model with no fixed costs of investment, and random technological progress that … variable, investment spikes are larger …