投资的Q理论 (THE Q-THEORY OF INVESTMENT)投资的q理论(the q-theory of investment) 1.人物及背景 詹姆斯·托宾(James Tobin,1918-2002),美国人,1940和1947年分别获哈佛大学硕士和博士学位,60和70年代曾担任耶鲁大学经济系主任。1955年获美国经济学学会的克拉克奖,1958年任经济计量学会会长,1971年任美国经济...
投资的 q 理论 (the q-theory of investment) 1. 人物及背景 詹姆斯·托宾(James Tobin, 1918-2002), 美国人, 1940和1947年分别获哈佛大学硕士和博士学位, 60和70年代曾担任耶鲁大学经济系主任。 1955年获美国经济学学会的克拉克奖,1958年任经济计量学会会长, 1971年任美国经济学会会长。 他的学术论著主要有...
投资的q理论 (the q-theory of investment) 1.人物及背景詹姆斯·托宾(James Tobin,1918-2002),美国人,1940和1947年分别获哈佛大学硕士和博士学位,60和70年代曾担任耶鲁大学经济系主任。1955年获美国经济学学会的克拉克奖,1958年任经济计量学会会长,1971年任美国经济学会会长。他的学术论著主要有:《作为对风险行为...
Q Theory of Investment ∗Michaux, Michael
2019. "Why Did the Q Theory of Investment Start Working?," Journal of Financial Economics (133:2), pp. 251-272. 研究表明,近年来,总投资与托宾的q理论之间的关系与以往相比,已变得非常紧密。我们将这种变化与托宾的q理论中不断增长的经验色散联系起来,我们在横截面和时间序列中都显示了这一点。为了...
Q-Theory of Investment Revisited: Merton's Q 来自 Semantic Scholar 喜欢 0 阅读量: 49 作者:H Celil,M Chi 摘要: We utilize an option pricing framework to construct a proxy for market value of a firm's physical assets, which is then used to estimate the marginal value of t关键词:...
摘要: The paper combines Tobin's Q theory of real investment with the capital asset pricing model to produce a new and relatively simple procedure for the valuation of real assets using the income approach. Applications of the new method are provided.关键词:...
Cochrane (2005) interprets this argument as a first-differenced version of Q-theory of investment. Zhang (2005) develops the Q-theoretical argument further. Zhang focuses on time varying expected return and shows how Q-theory, among other things, implies that firms conducting a SEO should have...
Recent experience seems to have shown that credit markets are more important than equity markets for investment and macrodynamics. This paper examines the effect of Tobin’s equity q and bond q on investment. More specifically we study the role of Tobin