A Unified Theory of Tobin's q, Corporate Investment, Financing, and Risk Management

Patrick Bolton, Hui Chen, Neng Wang

NBER Working Paper No. 14845
Issued in April 2009

---- Acknowledgements -----

We are grateful to Andrew Abel, Janice Eberly, Andrea Eisfeldt, Mike Faulkender, Michael Fishman, Albert Kyle, Robert McDonald, Marco Pagano, Gordon Phillips, and Robert Pindyck for their comments. We also thank seminar participants at Columbia Business School, NYU Stern, U.C. Berkeley, University of Maryland, and Northwestern University (Kellogg) for their comments. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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