Hubbard 1998 capital market imperfections
We study the effect of foreign ownership on firm valuation through strategic corporate decisions related to investment and payouts. Using data from Japan, we find evidence that foreign institutional investors lead to higher firm value through better and efficient investment and payout decisions.Capital Market Imperfections, HighTech Investment, and New Equity Financing Robert E. Carpenter UMBC This paper examines how capital market imperfections may affect firms in hightech et al. 1998). In Hubbards (1998) review of the empirical literature, his discussion hubbard 1998 capital market imperfections
R. Glenn Hubbard, 1998. CapitalMarket Imperfections and Investment, Journal of Economic Literature Informational Imperfections in the Capital Market and MacroEconomic Fluctuations, NBER Working Papers 1335, National Bureau of Economic Research, Inc. Peter K. Clark, 1993.