Growth Options and Firm Valuation
收藏NBER2013-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w18836
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资源简介：
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 firm-level
提供机构：
美国国家经济研究局
创建时间：
2013-02-01
