search query: @indexterm Capital accumulation / total: 28
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| Author: | Hall, R. E. |
| Title: | The stock market and capital accumulation |
| Journal: | American Economic Review
2001 : DEC, VOL. 91:5, p. 1185-1202 |
| Index terms: | Stock markets Capital accumulation Equity capital Securities |
| Language: | eng |
| Abstract: | The value of a firm's securities measures the value of the firm's productive assets. If the assets include only capital goods and not a permanent monopoly franchise, the value of the securities measures the value of the capital. A standard model of adjustment cost enables the inference of the price of installed capital. Data from U.S. corporations over 50 years imply that corporations have formed large amounts of intangible capital. |
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