Investment and Tobin's Q: Some evidence from panel data
A Q model of investment is estimated using data for an unbalanced panel of UK companies over the period 1975-86. Correlated firm-specific effects and the endogeneity of Q are allowed for using a Generalised Method of Moments estimator. In the calculation of Q we estimate the tax incentives available...
| Main Authors: | , , , |
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| Format: | Journal article |
| Published: |
1992
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