| The Q theory of investment,the capital asset pricing model,and asset valuation:a synthesis |
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| 作者姓名： | MCDONALD John F. |
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| 作者单位： | College of |
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| 摘 要： | INTRODUCTION This paper combines the economic theory ofreal investment and the standard financial model ofasset pricing to produce a method for the valuationof real assets; and intentionally uses relativelysimple versions of these two theories to link eco-nomics, finance, and appraisal. Numerical exam-ples using data on real estate assets illustrate thevaluation method. The Q theory of investment, introduced byJames Tobin (1969), is popularly accepted theory ofreal investment hypothesize…
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The Q theory of investment,the capital asset pricing model,and asset valuation:a synthesis |
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| MCDONALD John F..The Q theory of investment,the capital asset pricing model,and asset valuation:a synthesis[J].Journal of Zhejiang University Science,2004(5). |
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| Authors: | MCDONALD John F |
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| Abstract: | |
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| Keywords: | Investment theory Asset pricing Appraisal |
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