Firm-level Irreversibility
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https://www.nber.org/papers/w26372
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Contradicting Cooper and Haltiwanger (2006), Clementi and Palazzo (2019) report a largely symmetric investment rate distribution in Compustat, with a large fraction of negative investment rates, 18.2%, and conclude no sign of irreversibility (p. 289). Their evidence is flawed. A data error on
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美国国家经济研究局创建时间：
2019-10-01
