Faculty News

Professor Thomas Philippon's joint research on corporate capital investment is referenced

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Excerpt from Bloomberg View -- "Graduate student German Gutierrez and finance professor Thomas Philippon of New York University come to a similar place in their new paper, 'Investment-Less Growth: An Empirical Investigation.' They find a marked decline in corporate capital investment relative to profits and valuation, starting around the year 2000, and a big increase in payouts to shareholders (dividends and buybacks, although the increase has mostly been in buybacks)."

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