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Does the stock market affect firm investment in China? A price informativeness perspective

  • 【作者】Wang,Yaping,Wu,Liansheng,Yang,Yunhong
  • 【作者单位】1 Guanghua School of Management, Peking University, Beijing 100871, China
  • 【年份】2009
  • 【卷号】Vol.33No.1
  • 【页码】53-62
  • 【ISSN】0378-4266
  • 【关键词】STOCKS Prices DEBT-to-equity ratio VALUATION CORPORATIONS Finance MATHEMATICAL models PRICES 
  • 【摘要】 This paper investigates the empirical relationship between firm-level investment and the stock market in China from a price informativeness perspective. We find that firm investment does not significantly respond to the stock market valuation, becaus...
  • 【文献类型】 期刊
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