Theory posits that when managers anticipate excess capacity, average q becomes a biased estimator of marginal q as the potential for underutilizing new capital diminishes the marginal benefit of investing. After correcting for this source of measurement error, the explanatory power of Tobin’s q model substantially improves in time-series and cross-sectional regressions as well as […]
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David Ikenberry's expertise on corporate and investment finance is regularly sought by news outlets from around the country. His work is often cited by industry publications and he has been featured in The Wall Street Journal, Businessweek, and The Economist, among others.
David Ikenberry Presents Research at World Finance Conference in Nicosia, Cyprus
This summer, David Ikenberry presented his research paper titled “Do Repurchases Cause Harm? Evidence from Buybacks by Financially Distressed Firms” on July 31st, 2024 at the World Finance Conference in Nicosia, Cyprus. The paper was also authored by: Theo Vermaelen – INSEAD (France)Guanqun Zhou – University of Colorado (United States) Here is the abstract from […]
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