countercyclical and forecast future economic activities because they a®ect ¯rm investment through Tobin's Q. They also forecast future …

returns equal levered investment returns, which are tied directly to firm characteristics. When we use GMM to match average … levered investment returns to average observed stock returns, the model captures the average stock returns of portfolios … sorted by earnings surprises, book-to-market equity, and capital investment. When we try to match expected returns and return …

returns equal levered investment returns, which are tied directly to firm characteristics. When we use GMM to match average … levered investment returns to average observed stock returns, the model captures the average stock returns of portfolios … sorted by earnings surprises, book-to-market equity, and capital investment. When we try to match expected returns and return …

with frictions in the adjustment of both capital and labor. We posit that hiring of labor is akin to investment in capital ….S. corporate sector data to estimate firms' optimal hiring and investment decisions and the consequences for firms' value. We then … investment and physical capital. We find that a conventional specification - quadratic adjustment costs for capital and no hiring …

We study how investors' preferences for robustness influence corporate investment, financing, and compensation … ambiguity aversion lowers Tobin’s q, the average investment, and investment volatility. The entrepreneur values the project at …

We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We … evidence, and quantify the relevance for monetary transmission to aggregate investment …

of all securities in the economy. The approach taken relies on a quantitative application of the q-theory of investment … investment data. …

of all securities in the economy. The approach taken relies on a quantitative application of the q-theory of investment … investment data. …