Investment and Tobin's Q: Some evidence from panel data

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...

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Bibliographic Details
Main Authors:	Devereux, M, Blundell, R, Bond, S, Schiantarelli, F
Format:	Journal article
Published:	1992

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