We would like to thank seminar participants at the AFA, Bank of England, Bank of International Settlements, Bank of Italy, Cass Business School, Chicago/London Conference on Financial Markets, Dutch National Bank, Emory Business School, Frankfurt, Groningen, Institute for Advanced Studies (Vienna), Illinois at Chicago, Iowa, Kentucky, Loyola, MIT, Paris-I, NBER Behavioral Finance group, NBER Capital Markets and the Economy group, NBER Macroeconomics and Individual Decision-Making group, Saskatchewan, Toronto, and Urbino. We also thank the editor, three referees, and Olivier Blanchard, Jason Cummins, Steve Fazzari, S.P. Kothari, Sydney Ludvigson, and Linda Vincent for helpful comments and discussions and Mark Blanchette, Rose Cunningham, Hans Holter, Sadaquat Junayed, and Heidi Portuondo for research assistance. Chirinko and Schaller thank the European University Institute and MIT, respectively, for providing excellent environments in which to begin this research, Chirinko thanks the Bank of England for financial support under a Houblon-Norman/George Senior Fellowship, and Schaller thanks the SSHRC for financial support. All errors and omissions remain the sole responsibility of the authors, and the conclusions do not necessarily reflect the views of the supporting institutions.
Fundamentals, Misvaluation, and Business Investment
Article first published online: 27 SEP 2011
© 2011 The Ohio State University
Journal of Money, Credit and Banking
Volume 43, Issue 7, pages 1423–1442, October 2011
How to Cite
CHIRINKO, R. S. and SCHALLER, H. (2011), Fundamentals, Misvaluation, and Business Investment. Journal of Money, Credit and Banking, 43: 1423–1442. doi: 10.1111/j.1538-4616.2011.00430.x
- Issue published online: 27 SEP 2011
- Article first published online: 27 SEP 2011
- Received February 11, 2009; and accepted in revised form February 18, 2011.
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