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Green with Envy: Implications for Corporate Investment Distortions*

✍ Scribed by Goel, Anand M.; Thakor, Anjan V.

Book ID
123881098
Publisher
University of Chicago Press
Year
2005
Tongue
English
Weight
258 KB
Volume
78
Category
Article
ISSN
0021-9398

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Corporate Investment and Asset Price Dyn
Corporate Investment and Asset Price Dynamics: Implications for the Cross-section of Returns
✍ MURRAY CARLSON; ADLAI FISHER; RON GIAMMARINO 📂 Article 📅 2004 🏛 John Wiley and Sons 🌐 English ⚖ 202 KB

## ABSTRACT We show that corporate investment decisions can explain the conditional dynamics in expected asset returns. Our approach is similar in spirit to Berk, Green, and Naik (1999), but we introduce to the investment problem operating leverage, reversible real options, fixed adjustment costs,