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If firms purchase capital up to the point where there is no further marginal benefit, and the firms' securities are equal in value to the capital, then the market value of securities measures the quantity of capital. I explore the implications of this hypothesis using data from U.S. non-farm,...
Persistent link: https://www.econbiz.de/10012471608
If firms purchase capital up to the point where there is no further marginal benefit, and the firms' securities are equal in value to the capital, then the market value of securities measures the quantity of capital. I explore the implications of this hypothesis using data from U.S. non-farm,...
Persistent link: https://www.econbiz.de/10013247200
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We propose the standard neoclassical model of investment under uncertainty with short-run adjustment frictions as a … of variables of interest to accounting research (e.g., earnings, returns, investment, market-to-book) absent accounting …
Persistent link: https://www.econbiz.de/10012902450
We propose the standard neoclassical model of investment under uncertainty with short‐run adjustment frictions as a … of variables of interest to accounting research (e.g., earnings, returns, investment, market‐to‐book) absent accounting …
Persistent link: https://www.econbiz.de/10012867279