Metadata

Replication data for: Ownership, Concentration, and Investment

Version
1
Resource Type
Dataset
Creator
  • Gutiérrez, Germán
  • Philippon, Thomas
Publication Date
2018-05-01
Description

  • Abstract

    The US business sector has underinvested relative to profits, funding costs, and Tobin's Q since the early 2000s. Building on prior work, we argue that decreasing competition, rising intangibles, and tightening governance explain, respectively, about one-half, one-third, and one-sixth of the investment gap. In particular, quasi-indexer ownership appears to lower investment, and this effect is stronger in noncompetitive industries.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/pandp.20181010 (Text)
Publications
  • Gutiérrez, Germán, and Thomas Philippon. “Ownership, Concentration, and Investment.” AEA Papers and Proceedings 108 (2018): 432–37. https://doi.org/10.1257/pandp.20181010.
    • ID: 10.1257/pandp.20181010 (DOI)

Update Metadata: 2020-06-01 | Issue Number: 1 | Registration Date: 2020-06-01