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Investment, Fundamentals and Finance

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NBER1998-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w6652
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Financial variables such as cash flow and cash stocks are robust and quantitatively important explanatory variables for investment at the firm-level. A large body of recent empirical work attributes these findings to capital market imperfections. This interpretation is controversial, however,
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1998-07-01
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