Do Private Firms (Mis)Learn from the Stock Market?

Dong Yan    Dong Yan
03 Oct 2018
Category: Corporate Finance

Country or region: Asia Pacific (Overall)

Are investment decisions of corporate managers influenced by the stock market? Do managers of private firms learn from stock prices of public firms in their industry when making decisions? Using UK data, the author finds a positive relationship between investments of private firms and the valuation of public firms in ......

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