have strongest in-sample and out-of-sample explanatory content for the emergence of price bubbles. In particular, the price … to book ratio is fruitful to improve the ex-ante signalling of stock price bubbles. -- Stock market bubbles ; out …

spending - combined with investment theory - to estimate the discount rates used by managers. The standard story predicts that … between 15.1% and 45.2% too much capital. These estimates suggest that, even before they burst, bubbles adversely affect … economic activity by misallocating capital. -- bubbles ; investment ; stock markets ; real effects of financial markets …

bubbles in the stock market of those countries over the past four decades. …