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    Tobin’s q and intangible assets

    Wright, Stephen (2006) Tobin’s q and intangible assets. Working Paper. Birkbeck, University of London, London, UK.

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    Abstract

    In a recent paper Laitner & Stolyarov (2003) assert that measured Tobin’s q has usually been well above 1, and use this to back up their conclusion that there are significant quantities of unrecorded intangible assets. This key feature of q turns out however to be entirely due to errors and omissions in the authors’ calculations. The corrected q series turns out to be usually well below unity.

    Metadata

    Item Type: Monograph (Working Paper)
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Research Centre: Applied Macroeconomics, Birkbeck Centre for
    Depositing User: Sarah Hall
    Date Deposited: 13 May 2014 13:23
    Last Modified: 07 Dec 2016 14:53
    URI: http://eprints.bbk.ac.uk/id/eprint/9728

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