Testing Q theory with financing frictions

No abstract is available for this paper.

• Publication year

  2007

• Venue

  Journal of Financial Economics

• Publication date

  2007-03-01

• Fields of study

  Economics

• Identifiers
  DOI 10.1016/J.JFINECO.2005.12.008
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

• Underinvestment, capital structure and strategic debt restructuring

  2010cited by this paper
• Financial Constraints, Asset Tangibility, and Corporate Investment

  2007cited by this paper
• Testing financing constraints on firm investment using variable capital

  2007cited by this paper
• Published by Elsevier B.V.

  2007cited by this paper
• How Costly Is External Financing? Evidence from a Structural Estimation

  2007cited by this paper
• Financial Constraints Risk

  2006cited by this paper
• Estimation of Nonlinear Models with Measurement Error

  2004cited by this paper
• Estimation of Nonlinear Models with Measurement Error Using Marginal Information1

  2004cited by this paper
• Investment-Cash Flow Sensitivities: Constrained Versus Unconstrained Firms

  2004cited by this paper
• Tobin's "Q", Debt Overhang, and Investment

  2004influential reference
• Financial frictions and investment: requiem in Q

  2003influential reference
• When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms

  2003cited by this paper
• TWO-STEP GMM ESTIMATION OF THE ERRORS-IN-VARIABLES MODEL USING HIGH-ORDER MOMENTS

  2002influential reference
• Is It Inefficient Investment that Causes the Diversification Discount

  2001cited by this paper
• How Big are the Tax Benefits of Debt

  2000cited by this paper
• Are There Economies of Scale in Underwriting Fees? Evidence of Rising External Financing Costs

  2000cited by this paper
• Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers

  1999cited by this paper
• The Declining Credit Quality of U.S. Corporate Debt: Myth or Reality?

  1998influential reference
• Credit Cycles

  1997cited by this paper
• Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?

  1997influential reference
• Almost Everything You Wanted to Know about Recoveries on Defaulted Bonds

  1996cited by this paper
• Bank Information Monopolies and the Mix of Private and Public Debt Claims

  1996influential reference
• Leverage, Investment, and Firm Growth

  1995cited by this paper
• Liquidation Values and Debt Capacity: A Market Equilibrium Approach

  1992influential reference
• A Theory of Debt Based on the Inalienability of Human Capital

  1991influential reference
• Identification and estimation of polynomial errors-in-variables models

  1991cited by this paper
• Tobin's q and measurement error: Caveat investigator

  1991influential reference
• Financing Constraints and Corporate Investment

  1988cited by this paper
• Tobin's Q and Financial Policy

  1986cited by this paper
• Stock Price Movements in Response to Stock Issues under Asymmetric Information

  1986cited by this paper
• Tobin&Apos;S Q and Financial Policy

  1986influential reference
• Stochastic Differential Equations

  1985cited by this paper
• Corporate finance side of the Q theory of investment

  1985cited by this paper
• Instantaneous Control of Brownian Motion

  1983cited by this paper
• TOBIN'S MARGINAL q AND AVERAGE q: A NEOCLASSICAL INTERPRETATION

  1982cited by this paper
• Taxation and Corporate Investment: A q-Theory Approach

  1981cited by this paper
• Credit Rationing in Markets with Imperfect Information

  1981cited by this paper
• A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity

  1980cited by this paper
• On financial contracting: An analysis of bond covenants

  1979influential reference
• Determinants of corporate borrowing

  1977influential reference
• Imperfect Information, Uncertainty, and Credit Rationing

  1976cited by this paper
• Risk, Return, and Equilibrium: Empirical Tests

  1973cited by this paper
• Adjustment Costs and the Theory of Supply

  1967cited by this paper
• Identification and estimation.

  1955cited by this paper
• Bureau of Labor Statistics

  year unknowninfluential reference

• Cash Holdings Management, Organizational Capital, and Stock Liquidity: The Precautionary Motive for Risk Mitigation

  2026cites this paper
• Scarring and corporate debt

  2026cites this paper
• Valuing intangible capital in agribusinesses: a re-examination of the neoclassical theory of investment

  2026cites this paper
• More frequent financial reporting and market feedback effect: evidence from U.S. and EU regulatory changes

  2026cites this paper
• Risk-free vs risky components of debt

  2025cites this paper
• How does carbon transition risk drive corporate diversification? Evidence from heavy emitter firms in China

  2025cites this paper
• Targeted by Superpower: 
Sanctions and Corporate 
Investment in China

  2025cites this paper
• Performance measurement through corporate communication: evidence from Indian manufacturing firms

  2025cites this paper
• Tightening monetary policy and investment dynamics in the European Monetary Union: Firm- and country-level heterogeneity

  2025cites this paper
• Pengaruh Koneksi Politik dan Financial Constraint Terhadap Agresivitas Pajak

  2025cites this paper
• The Real Side of Black Swans: Tail Risk and Corporate Investment

  2025cites this paper
• Building credible commitments via board ties: Evidence from the supply chain

  2025cites this paper
• Understanding the effects on corporate performance of investments in wealth management products

  2025cites this paper
• The effect of debt overhang on investment under financial liberalization: an examination for an emerging market

  2025cites this paper
• Dual-class share structure and financial constraints

  2025cites this paper
• Financing Green Entrepreneurs Under Limited Commitment

  2024cites this paper
• On stakeholder theory and corporate investment under financial frictions

  2024cites this paper
• How Does Fintech Development Affect Financing Constraints of Smes? Evidence From China

  2024cites this paper
• The impact of country level investor protection on economic policy uncertainty and corporate investment link

  2024cites this paper
• The costs of corporate debt overhang

  2024cites this paper
• Fintech, information heterogeneity, and the regional distribution effects of corporate financing constraints

  2024cites this paper
• Informational role of investment and liquidation values

  2024cites this paper
• Agency cost of debt as incentive for executive inside debt: Evidence from empirical study

  2024cites this paper
• How do elite-educated CEOs choose the M&A Payment Method? Evidence from Taiwan

  2024cites this paper
• Digital transformation of enterprises promotes green technology innovation – The regulated mediation model

  2024cites this paper
• Windfalls? Costs and benefits of investment tax incentives due to financial constraints

  2023cites this paper
• Flexibility, Option Value of Leasing, and Investment

  2023cites this paper
• How to Use Natural Experiments to Estimate Misallocation

  2023influential citation
• Has FinTech Changed the Sensitivity of Corporate Investment to Interest Rates?—Evidence from China

  2023cites this paper
• Managers' cultural origin and corporate response to an economic shock

  2023cites this paper
• The Evolution of Corporate Uses of Cash Flow

  2023cites this paper
• Financial Constraints, Liquidity Management, and Investment

  2023cites this paper
• Analysing SME investment, financing constraints and its determinants. A stochastic frontier approach

  2023cites this paper
• Aggregate earnings and market expectations in United States presidential election prediction markets

  2023cites this paper
• Does oil price uncertainty matter in firm innovation? Evidence from China

  2023cites this paper
• The 'Misallocation' of Internal Financing

  2023cites this paper
• The impact of green credit on firm's green investment efficiency: Evidence from China

  2023cites this paper
• Application of Python Technology Based on Big Data: Does CSR Bring Economic Benefits or Penalties?

  2023cites this paper
• Corporate Discount Rates

  2023cites this paper
• Debt Overhang and Carbon Emissions

  2023cites this paper
• Aggregate Implications of Deviations from Modigliani-Miller: A Sufficient Statistics Approach

  2023influential citation
• Firms' Financing Dynamics Around Lumpy Capacity Adjustments

  2023cites this paper
• Cash flow investment, external funding and the energy transition: Evidence from large US energy firms

  2023cites this paper
• Callable or Convertible Debt? The Role of Debt Overhang and Covenants

  2023cites this paper
• Star academicians: Gimmicks or game-changers?

  2023cites this paper
• Leased capital and the investment-<mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" display="inline" id="d1e5741" altimg="si5.svg"><mml:mi>q</mml:mi></mml:math> relation

  2023cites this paper
• Unexpected Money Growth, Nonfinancial Firms as Large Shareholders and Investment-Cash Flow Relationship: Evidence from Vietnam

  2022cites this paper
• CEO Inside Debt and Mutual Fund Investment Decisions

  2022cites this paper
• Scarring and Corporate Debt, WP/22/211, October 2022

  2022cites this paper
• Meta‐analysis of the impact of financial constraints on firm performance

  2022cites this paper
• Corporate Debt Maturity and Investment Over the Business Cycle

  2022cites this paper
• Liquidez em caixa e as restrições financeiras no desempenho de mercado das empresas brasileiras

  2022cites this paper
• Accelerability vs. Scalability: R&D Investment Under Financial Constraints and Competition

  2022cites this paper
• Macroeconomic Effects of Dividend Taxation with Investment Credit Limits

  2022cites this paper
• Cash holding dynamics and competition intensity: Evidence from UK firms

  2022cites this paper
• Cash liquidity and financial constraints in relation to the market performance of Brazilian companies

  2022cites this paper
• Discount Rates: Measurement and Implications for Investment ∗

  2022cites this paper
• Transformation in production technology and the dynamics of corporate investment

  2022cites this paper
• Corporate Discount Rates∗

  2022cites this paper
• Does Options Trading Activity Benefit REITs?

  2022cites this paper
• Short Sales and Corporate Investment Efficiency: Evidence from China

  2021cites this paper
• Does High Leverage Render Businesses Vulnerable to the COVID-19 Shock?∗

  2021cites this paper
• Geographic clustering of institutional investors

  2021cites this paper
• Firm Size and Corporate Investment Firm Size and Corporate Investment

  2021cites this paper
• Moral hazard, debt overhang and capital structure

  2021cites this paper
• TINGKAT SUKU BUNGA SBI, TINGKAT INFLASI DAN INDEKS HARGA SAHAM GABUNGAN (IHSG) DI BURSA EFEK INDONESIA (BEI)

  2021cites this paper
• Corporate credit booms, financial constraints, and the investment nexus

  2021cites this paper
• New Insight on Investment-Cash Flow Sensitivity

  2021cites this paper
• Predicting corporate policies using downside risk: A machine learning approach

  2021cites this paper
• Spillover effects in empirical corporate finance

  2021cites this paper
• Damaged by the Disaster: The Impact of COVID-19 on Firms in South Asia

  2021cites this paper
• NBER WORKING PAPER SERIES RENTS AND INTANGIBLE CAPITAL : A Q + FRAMEWORK Nicolas Crouzet

  2021cites this paper
• Investment, capital stock, and replacement cost of assets when economic depreciation is non-geometric

  2021cites this paper
• Rents and Intangible Capital: A Q+ Framework

  2021cites this paper
• Firm Dynamics Depend on Cash and Capital

  2021cites this paper
• The effect of credit shocks in the context of labor market frictions

  2021cites this paper
• Do corporate financial flexibility, financial sector development and regulatory environment affect corporate investment decisions?

  2021cites this paper
• Priority Spreading of Corporate Debt

  2020cites this paper
• The remarkable growth in financial economics, 1974–2020

  2020cites this paper
• Financial Shocks and Corporate Investment in Emerging Markets

  2020cites this paper
• Are companies managed by overconfident CEO financially constraint? Investment-cash flow sensitivity approach

  2020cites this paper
• Handling Spillover Effects in Empirical Corporate Finance

  2020cites this paper
• The Real Side of the High-Volume Return Premium

  2020cites this paper
• The Costs of Corporate Debt Overhang

  2020cites this paper
• Pension Overhang and Corporate Investment

  2020cites this paper
• Financial frictions and the SME investment gap: new survey evidence for Ireland

  2020cites this paper
• How does international trade affect U.S. corporate investment? Evidence from the asset tangibility channel

  2020cites this paper
• Government Connections and Investment

  2020cites this paper
• Why do firms issue guaranteed bonds?

  2020cites this paper
• The Fiscal Multiplier of Public Investment: The Role of Corporate Balance Sheet

  2020cites this paper
• Contingent capital, Tobin’s q and corporate capital structure

  2020cites this paper
• The Persistent Decline in Asset Utilization and the Investment-q Paradox

  2020cites this paper
• The COVID-19 Shock and Equity Shortfall: Firm-Level Evidence from Italy

  2020cites this paper
• Shrinking Boundary of the Invisible Hand∗

  2020cites this paper
• Information flows among rivals and corporate investment

  2020cites this paper
• Investment without Q

  2020cites this paper
• Financial Flexibility and Manager–Shareholder Conflict: Evidence from REITs

  2020cites this paper
• Rise of Superstar Firms and Fall of the Price Mechanism

  2020cites this paper
• Hail to the chief: The effect of political alignment with the presidency on corporate investment

  2020cites this paper
• Informational Role of Investment in Bankruptcy∗

  2020cites this paper