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Does Corporate Governance Matter to Bondholders
We examine the relation between the cost of debt financing and a governance index that contains various antitakeover and shareholder protection provisions. Using firm-level data from the InvestorsExpand
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Intangible capital in the pharmaceutical and chemical industry
We investigate whether measures of intangible capital based on advertising and R&D can explain variation in Tobin’s Q ratio for the pharmaceutical & chemical industry using data from 1982 to 2001.Expand
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The recreation benefits of beach renourishment
Abstract This paper presents a methodology for directly estimating recreational benefits associated with beach renourishment. The methodology is employed to estimate benefits for the renourishment ofExpand
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Measuring and valuing intangible capital in the wireless communications industry
Abstract We investigate the measurement and valuation of intangible capital in the wireless telecommunications industry. Four specific sources of intangible capital are investigated: advertising,Expand
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The Stock Market Reaction to a Change in Certifying Accountant
This study investigates the stock market's reaction to a change in certifying accountant using standard event-time methodology and examines potential factors influencing the market reaction. FactorsExpand
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The Impact of Market Maker Competition on NASDAQ Spreads
This study utilizes a comprehensive database containing monthly information on the number of market makers for about 5,288 Nasdaq securities over an eight-year period to investigate the impact ofExpand
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Tobin's q and measurement error: Caveat investigator
Abstract Alternative measures of Tobin's q ratio based on book, imputed market, and market values of debt are investigated with a detailed sample of 100 large U.S. manufacturing corporations. WhileExpand
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The Relation Between Patent Citations and Tobin's Q in the Semiconductor Industry
The market value of a firm is largely determined by the expected returns to the firm's tangible and intangible assets. However, accounting data generally excludes intangible assets. FinancialExpand
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