# Professor Thomas Philippon's joint research on corporate investments is referenced

1 Faculty News February 13, 2018 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](https://www.nytimes.com/2018/02/13/business/economy/profits-economy.html) -- "According to an analysis by Germán Gutiérrez and [Thomas Philippon](http://www.stern.nyu.edu/faculty/bio/thomas-philippon) of New York University, the ratio of the market value of American corporations to the replacement value of their capital stock has roughly tripled since the 1970s."

[Read more](https://www.nytimes.com/2018/02/13/business/economy/profits-economy.html)