Working Paper
Tobin's Q, investment, and endogenous adjustment of financial structure
Abstract: An analysis of a q model of investment in which financial structure affects firm value, using a perfect foresight model of general equilibrium that includes a debt-related agency cost; uses the comparative statics and dynamics of changing the corporate tax rate as an illustration.
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https://fraser.stlouisfed.org/title/working-paper-federal-reserve-bank-cleveland-4494/tobins-q-investment-endogenous-adjustment-financial-structure-494495
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Working Papers (Old Series)
Publication Date: 1988
Number: 8801