Tobin's q and Asset Returns: Implications for Business Cycle Analysis
收藏NBER1995-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w5292
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资源简介：
The marginal cost of plant capacity, measured by the price of equity is significantly procyclical. Yet, the price of a major intermediate input into expanding plant capacity, investment goods, is coutercyclical. The ratio of these prices is Tobin's q. We interpret the fact that Tobin's q differs
提供机构：
美国国家经济研究局
创建时间：
1995-10-01
