Matches in SemOpenAlex for { <https://semopenalex.org/work/W2126020132> ?p ?o ?g. }
Showing items 1 to 57 of
57
with 100 items per page.
- W2126020132 abstract "A test of the relationship between financial asset values and the fundamentals is presented. The test is an indirect test based on Tobin's (1969) q model of investment. The advantage of this test is that it avoids conditioning on a specific model of equilibrium returns by substituting an observable proxy, capital, for the unobservable fundamental value of the firm. It is shown that under mild restrictions, the value of capital and the financial value of the firm should move together even if marginal or average q does not accurately describe the actual investment decision rule. Average q is a mean reverting process. The results of tests for violations of the mean reversion restriction are presented. The tests cannot reject the unit root null hypothesis for a long annual sample from 1926 to 1988 or a quarterly post-World War II sample. The power of the tests is examined with Monte Carlo simulations. The simulations show that the tests have good power until the serial correlation in the series gets quite hig..." @default.
- W2126020132 created "2016-06-24" @default.
- W2126020132 creator A5041975001 @default.
- W2126020132 date "1993-06-01" @default.
- W2126020132 modified "2023-09-26" @default.
- W2126020132 title "Asset Prices and the Fundamentals: A Q Test" @default.
- W2126020132 hasPublicationYear "1993" @default.
- W2126020132 type Work @default.
- W2126020132 sameAs 2126020132 @default.
- W2126020132 citedByCount "0" @default.
- W2126020132 crossrefType "journal-article" @default.
- W2126020132 hasAuthorship W2126020132A5041975001 @default.
- W2126020132 hasConcept C105795698 @default.
- W2126020132 hasConcept C135205223 @default.
- W2126020132 hasConcept C149782125 @default.
- W2126020132 hasConcept C162324750 @default.
- W2126020132 hasConcept C191988596 @default.
- W2126020132 hasConcept C195561663 @default.
- W2126020132 hasConcept C2780148112 @default.
- W2126020132 hasConcept C2780695315 @default.
- W2126020132 hasConcept C33923547 @default.
- W2126020132 hasConceptScore W2126020132C105795698 @default.
- W2126020132 hasConceptScore W2126020132C135205223 @default.
- W2126020132 hasConceptScore W2126020132C149782125 @default.
- W2126020132 hasConceptScore W2126020132C162324750 @default.
- W2126020132 hasConceptScore W2126020132C191988596 @default.
- W2126020132 hasConceptScore W2126020132C195561663 @default.
- W2126020132 hasConceptScore W2126020132C2780148112 @default.
- W2126020132 hasConceptScore W2126020132C2780695315 @default.
- W2126020132 hasConceptScore W2126020132C33923547 @default.
- W2126020132 hasLocation W21260201321 @default.
- W2126020132 hasOpenAccess W2126020132 @default.
- W2126020132 hasPrimaryLocation W21260201321 @default.
- W2126020132 hasRelatedWork W1556417728 @default.
- W2126020132 hasRelatedWork W2023966461 @default.
- W2126020132 hasRelatedWork W2028645242 @default.
- W2126020132 hasRelatedWork W2090338378 @default.
- W2126020132 hasRelatedWork W2170381992 @default.
- W2126020132 hasRelatedWork W2172112688 @default.
- W2126020132 hasRelatedWork W2212296857 @default.
- W2126020132 hasRelatedWork W2496412983 @default.
- W2126020132 hasRelatedWork W2752604769 @default.
- W2126020132 hasRelatedWork W2769462648 @default.
- W2126020132 hasRelatedWork W2770588847 @default.
- W2126020132 hasRelatedWork W2798010352 @default.
- W2126020132 hasRelatedWork W2800798589 @default.
- W2126020132 hasRelatedWork W2892269212 @default.
- W2126020132 hasRelatedWork W2969014857 @default.
- W2126020132 hasRelatedWork W3123162705 @default.
- W2126020132 hasRelatedWork W3123263744 @default.
- W2126020132 hasRelatedWork W3123860831 @default.
- W2126020132 hasRelatedWork W3124150124 @default.
- W2126020132 hasRelatedWork W943901926 @default.
- W2126020132 isParatext "false" @default.
- W2126020132 isRetracted "false" @default.
- W2126020132 magId "2126020132" @default.
- W2126020132 workType "article" @default.