firm characteristics - Tobin's Q, past investment, earnings-price ratios, market betas, and idiosyncratic volatility of … returns by aggregate investment and valuation ratios; and v) a downward sloping term structure of risk premia for dividend … strips. Our model delivers testable predictions about the behavior of firm-level real variables - investment and output …

firm characteristics - Tobin's Q, past investment, earnings-price ratios, market betas, and idiosyncratic volatility of … returns by aggregate investment and valuation ratios; and v) a downward sloping term structure of risk premia for dividend … strips. Our model delivers testable predictions about the behavior of firm-level real variables - investment and output …

This paper focuses on the determinants of aggregate investment spending in the UK for the industrial and commercial … investment in the manufacturing sector. Important focal points of our analysis are a role for real profits (internal funds … irreversibility and uncertainty in determining aggregate investment spending. Earlier work on manufacturing investment by Bean …