Seminar CRENoS-DECA 2009: Market value and total factor productivity

10/06/2009 - 14:00 to 16:00

Aula Magna, Faculty of Economics

Via Sant'Ignazio 74, Cagliari

Presentation of the paper

Market value and total factor productivity

Alessandra Colombelli
Università di Cagliari e BRICK-Collegio Carlo Alberto

On Wednesday 10 June at 12:00
Aula Magna - Faculty of Economics


In this paper we explore the convenience of measuring firm’s innovation efforts by means of TFP. With this aim, we investigate the relationship between firm level total factor productivity and the Tobin’s q. Measuring Tobin’s q allows inferring the actual value of intangible assets from stock market valuation. We use a panel of companies listed on continental Europe financial markets for the period going from 1995 to 2005. The possible validation of this relationship could have important implications concerning firm’s technological innovation measurement.

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