What do Firms do with Cash Windfalls?
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Suppose that a firm receives a cash windfall which does not change its investment opportunity set, or equivalently its marginal Tobin's Q. What will this firm do with the money? We provide empirical answers to this question using a sample of firms with such windfalls in the form of a won or settled
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美国国家经济研究局创建时间：
1993-01-01
