Investment and value

Investment and value

by Janice C. Eberly

Book 13866 of NBER working paper series -- working paper

2008
Join Readfeed freeFind clubs reading this
Rate this book:

Browse books you can read free on Readfeed

No club is reading this yet — be the first to start one

Start a club free
About
"Which investment model best fits firm-level data? To answer this question we estimate alternative models using Compustat data. Surprisingly, the two best-performing specifications are based on Hayashi's (1982) model. This model's foremost implication, that Q is a sufficient statistic for determining a firm's investment decision, has been often rejected because cash-flow and lagged-investment effects are present in investment regressions. However, we find that these regression results are quite fragile and ineffectual for evaluating model performance. So, forget what investment regressions tell you. Models based on Hayashi (1982) provide a very good description of investment behavior at the firm level"--National Bureau of Economic Research web site.

Discuss Investment and value with other readers

Join or start a book club for Investment and value on Readfeed. Live chat, shared reading progress, and AI discussion questions — free to get started.

Sign up freeBrowse book clubs

Frequently asked questions

How do I join a book club for Investment and value?

Sign up free on Readfeed, then browse public clubs or start your own club with Investment and value as the current read. Invite friends with a share link and discuss together with live chat and AI discussion questions.

Can I discuss Investment and value with other readers online?

Yes. Readfeed book clubs let you chat live, share progress, and join discussions about Investment and value with readers worldwide — whether your club is virtual, in-person, or hybrid.

Is Readfeed free?

Yes. Creating an account and joining book clubs is free. Sign up to find readers who love the same books and start discussing today.