| 来源类型 | Working Paper |
| 规范类型 | 论文 |
| Investment Behavior, Observable Expectations, and Internal Funds | |
| Kevin A. Hassett; Stephen D. Oliner; Jason G. Cummins | |
| 发表日期 | 2002-09-02 |
| 出处 | American Enterprise Institute |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | The authors use earnings forecasts from securities analysts to construct a new measure of the neoclassical fundamentals that drive investment. They find that investment responds significantly–in both economic and statistical terms–to our new measure of fundamentals. In addition, they find that cash flow is uncorrelated with investment spending, even for firms that have been found to be “liquidity constrained” in previous studies. Taken together, the results cast doubt on the common interpretation of cash-flow effects in empirical investment equations using Brainard-Tobin average q. Revised Draft, September 1, 2002. Original Draft, March 31, 1999. |
| 主题 | Public Economics |
| URL | https://www.aei.org/research-products/working-paper/investment-behavior-observable-expectations-and-internal-funds/ |
| 来源智库 | American Enterprise Institute (United States) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/206787 |
| 推荐引用方式 GB/T 7714 | Kevin A. Hassett,Stephen D. Oliner,Jason G. Cummins. Investment Behavior, Observable Expectations, and Internal Funds. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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