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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w7808 |
来源ID | Working Paper 7808 |
Firm Value, Risk, and Growth Opportunities | |
Hyun-Han Shin; Rene M. Stulz | |
发表日期 | 2000-07-01 |
出版年 | 2000 |
语种 | 英语 |
摘要 | We show that Tobin's q, as proxied by the ratio of the firm's market value to its book value, increases with the firm's systematic equity risk and falls with the firm's unsystematic equity risk. Further, an increase in the firm's total equity risk is associated with a fall in q. The negative relation between the change in total risk and the change in q is robust through time for the whole sample, but it does not hold for the largest firms. |
主题 | Financial Economics ; Corporate Finance |
URL | https://www.nber.org/papers/w7808 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565380 |
推荐引用方式 GB/T 7714 | Hyun-Han Shin,Rene M. Stulz. Firm Value, Risk, and Growth Opportunities. 2000. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w7808.pdf(142KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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