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Explaining aggregate investment in Britain: the importance of Tobin's Q

Oulton, N.; (1978) Explaining aggregate investment in Britain: the importance of Tobin's Q. Economics Letters , 1 (3) pp. 253-257. 10.1016/0165-1765(78)90034-4.

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Abstract

This note reports on work done in testing Tobin's ‘Q’ theory of investment on British data. Investment by industrial and commercial companies over 1960–1977 was studied. Q was found to be both significant and important, outperforming other plausible variables.

Type: Article
Title: Explaining aggregate investment in Britain: the importance of Tobin's Q
DOI: 10.1016/0165-1765(78)90034-4
Publisher version: http://dx.doi.org/10.1016/0165-1765(78)90034-4
Language: English
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/17992
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