Tobin’s Q and off-the-balance-sheet ‘Intangible Assets’

By Shimshon Bichler & Jonathan Nitzan

It is often argued that the post-1980 rise in the value of Tobin’s Q is due, at least in part, to the increased importance of off-the-balance sheet ‘intangible assets’.

But then, the growth of knowledge tends to be cumulative, whereas the ups and downs of Tobin’s Q suggest that it zigzags widely – rising sharply during some periods while collapsing abruptly in others.

Does this make any sense?

• This topic was modified 4 years ago by Jonathan Nitzan.
• This topic was modified 4 years ago by Jonathan Nitzan.
• This topic was modified 4 years ago by Jonathan Nitzan.
• This topic was modified 4 years ago by Jonathan Nitzan.