Intangible Capital and the Investment-q Relation
By R. Peters, Lucian A. Taylor. 2017
909 citations recorded by the source corpus.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/edacc439358def46b5431c5b6ebba59dcb000866
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
- Thomas Philippon
- Germán Gutiérrez
- Chien‐Chiang Lee
- Mohamed Ghaly
- C. Mangen
- Nemit Shroff
- T. Ladika
- Te-Sheng Tien
In Finance
- Rodrigo S. Verdi
- Nemit Shroff
- C. Mangen
- Artyom Durnev
- Mohamed Ghaly
- T. Ladika
- Germán Gutiérrez
- Te-Sheng Tien
Citations in the corpus
- The effects of financial reporting and disclosure on corporate investment: A review (2019, background): “12 Two related studies are Ramalingegowda et al. (2013) and Armstrong et al.”
- The spillover effects of MD&A disclosures for real investment: The role of industry competition (2019, background): “Finally, theory implies that firms disclose more information when products are less substitutable (Darrough, 1993; Raith, 1996; Clinch and Verrecchia, 1997).”
- Declining Competition and Investment in the U.S. (2017, neutral): “Peters and Taylor (2016) (PT for short) estimate firm-level intangible capital by combining estimates of internally and externally-created intangibles.”
- Is Aggregate Market Power Increasing? Production Trends Using Financial Statements (2018, neutral): “Indeed, the raw correlation of log SGA to log intangible capital as measured by Peters and Taylor (2017) is 0.92.”
- Investmentless Growth: An Empirical Investigation (2016, positive): “Peters and Taylor [2016] address this issue by including an estimate of the value of intangible capital in the denominator.”
- The deteriorating usefulness of financial report information and how to reverse it (2018, positive): “Peters and Taylor (2017), for example, show that including the capitalised values of internally-generated intangibles in Tobin’s q ratio (a widely-used measure of firms’ investment opportunities) improves significantly the explanatory power and predictive ability of this measure.”
- Going digital: implications for firm value and performance (2019, methodology): “Following Peters and Taylor (2017) we keep the original xsga as SG&A expense if xrd > xsga but xrd cogs.”