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Tobin’s [Formula: see text] and corporate investment with a pandemic shock()
We analyze the impact of COVID-19 on investment by incorporating a stochastic transmission shock into the standard [Formula: see text] theoretical framework. Our model suggests that the adjustment cost amplifies the negative pandemic shock to investment and decreases firm value. In particular, when...
| Autores principales: | , , , |
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
| Publicado: |
Elsevier B.V.
2021
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| Materias: | |
| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8554485/ https://www.ncbi.nlm.nih.gov/pubmed/34728869 http://dx.doi.org/10.1016/j.econlet.2021.110141 |