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TheQ theory of investment, the capital asset pricing model, and asset valuation: a synthesis

Journal of Zhejiang University-SCIENCE A volume 5, pages 499–508 (2004)Cite this article

Abstract

The paper combines Tobin'sQ theory of real investment with the capital asset pricing model to produce a new and relatively simple procedure for the valuation of real assets using the income approach. Applications of the new method are provided.

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Affiliations

  1. College of Business Administration, University of Illinois at Chicago, Chicago, USA

    McDonald John F.

Authors
  1. McDonald John F.
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Correspondence to McDonald John F..

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McDonald, J.F. TheQ theory of investment, the capital asset pricing model, and asset valuation: a synthesis. J. Zheijang Univ.-Sci. 5, 499–508 (2004). https://doi.org/10.1631/jzus.2004.0499

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  • DOI: https://doi.org/10.1631/jzus.2004.0499

Key words

  • Investment theory
  • Asset pricing
  • Appraisal

Document code

  • A

CLC number

  • F832.48