Pure Profit Rates and Tobin's q in Nine OECD Countries:
This paper extends a previous study of profit trends to consider valuation ratios (Tobin's q) in nine countries. Tobin's q embodies market expectations and is an indicator of expected pure profit rates on the existing capital stock. Since 1982, equity markets have recovered substantially....
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
1986
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| Schriftenreihe: | OECD Economics Department Working Papers
no.34 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper extends a previous study of profit trends to consider valuation ratios (Tobin's q) in nine countries. Tobin's q embodies market expectations and is an indicator of expected pure profit rates on the existing capital stock. Since 1982, equity markets have recovered substantially. By end-1985, values of Tobin's q were close to their 1974 levels and close to the symbolic figure of unity. The theoretical and conceptual relevance of q is considered, as well as data and measurement limitations. Real debt and equity costs of finance are considered in the light of buoyant stock markets. The implications of the strong recent recovery in q for investment are also noted ... |
| Beschreibung: | 1 Online-Ressource (44 p.) 21 x 29.7cm. |
| DOI: | 10.1787/530230510717 |
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| spelling | Chan-Lee, James H... VerfasserIn aut Pure Profit Rates and Tobin's q in Nine OECD Countries James H., Chan-Lee Paris OECD Publishing 1986 1 Online-Ressource (44 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.34 This paper extends a previous study of profit trends to consider valuation ratios (Tobin's q) in nine countries. Tobin's q embodies market expectations and is an indicator of expected pure profit rates on the existing capital stock. Since 1982, equity markets have recovered substantially. By end-1985, values of Tobin's q were close to their 1974 levels and close to the symbolic figure of unity. The theoretical and conceptual relevance of q is considered, as well as data and measurement limitations. Real debt and equity costs of finance are considered in the light of buoyant stock markets. The implications of the strong recent recovery in q for investment are also noted ... Economics FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/530230510717 Volltext |
| spellingShingle | Chan-Lee, James H.. Pure Profit Rates and Tobin's q in Nine OECD Countries Economics |
| title | Pure Profit Rates and Tobin's q in Nine OECD Countries |
| title_auth | Pure Profit Rates and Tobin's q in Nine OECD Countries |
| title_exact_search | Pure Profit Rates and Tobin's q in Nine OECD Countries |
| title_full | Pure Profit Rates and Tobin's q in Nine OECD Countries James H., Chan-Lee |
| title_fullStr | Pure Profit Rates and Tobin's q in Nine OECD Countries James H., Chan-Lee |
| title_full_unstemmed | Pure Profit Rates and Tobin's q in Nine OECD Countries James H., Chan-Lee |
| title_short | Pure Profit Rates and Tobin's q in Nine OECD Countries |
| title_sort | pure profit rates and tobin s q in nine oecd countries |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/530230510717 |
| work_keys_str_mv | AT chanleejamesh pureprofitratesandtobinsqinnineoecdcountries |