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This paper studies the relation between firm value and a firm's growth options. We find strong empirical evidence that (average) Tobin's Q increases with firm-level volatility. However, the significance mainly comes from R&D firms, which have more growth options than non-R&D firms. By...
Persistent link: https://www.econbiz.de/10010226082
This paper studies the relation between firm value and a firm's growth options. We find strong empirical evidence that (average) Tobin's Q increases with firm-level volatility. The significance mainly comes from R&D firms, which have more growth options than non-R&D firms. By decomposing...
Persistent link: https://www.econbiz.de/10012306051
This paper studies the relation between firm value and a firm's growth options. We find strong empirical evidence that (average) Tobin's Q increases with firm-level volatility. The significance mainly comes from R&D firms, which have more growth options than non-R&D firms. By decomposing...
Persistent link: https://www.econbiz.de/10012060951
Persistent link: https://www.econbiz.de/10012169694
This paper studies the relation between firm value and a firm's growth options. We find strong empirical evidence that (average) Tobin's Q increases with firm-level volatility. The significance mainly comes from R&D firms, which have more growth options than non-R&D firms. By decomposing...
Persistent link: https://www.econbiz.de/10013085928
This paper studies the relation between firm value and a firm's growth options. We find strong empirical evidence that (average) Tobin's Q increases with firm-level volatility. The significance mainly comes from R&D firms, which have more growth options than non-R&D firms. By decomposing...
Persistent link: https://www.econbiz.de/10012974640
Do capital markets reflect the possibility that fossil fuel reserves may become “stranded assets” in the transition to a low carbon economy? We examine the relation between oil firms' value and their proved reserves. Using a sample of 600 North American oil firms for the period 1999 to 2018,...
Persistent link: https://www.econbiz.de/10012858796
Do capital markets reflect the possibility that fossil fuel reserves may become "stranded assets" in the transition to a low carbon economy? We examine the relation between oil firms' value and their proved reserves. Using a sample of 679 North American oil firms for the period 1999 to 2018, we...
Persistent link: https://www.econbiz.de/10012480440