Investment Decisions and Negative Interest Rates
نویسندگان
چکیده
منابع مشابه
Investment , Tobin ’ s q , and Interest Rates ∗
To study the impact of stochastic interest rates and capital illiquidity on investment and firm value, we incorporate a widely-used arbitrage-free term structure model of interest rates into a standard q-theoretic framework. Our generalized q model informs us to use corporate credit-risk information to predict investments when empirical measurement issues of Tobin’s average q are significant (e...
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ژورنال
عنوان ژورنال: Management Science
سال: 2020
ISSN: 0025-1909,1526-5501
DOI: 10.1287/mnsc.2019.3464