Optimal Investment, Growth Options, and Security Returns
收藏NBER1998-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w6627
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资源简介：
As a consequence of optimal investment choices, firms' assets and growth options change in predictable ways. Using a dynamic model, we show that this imparts predictability to changes in a firm's systematic risk, and its expected return. Simulations show that the model simultaneously reproduces: (i)
提供机构：
美国国家经济研究局
创建时间：
1998-06-01
