哪位好心人能帮我翻译一下这篇关于wealth effects of capital的论文节选，翻译一两段也好，不胜感激。 Following Esther et al. (2003), we separate public announcement wealth effects, measured by CARj (0, 3), from insider information wealth effects, measured by CAR ( 3, 0) (see Panels C and D of Table 7). Regression model 8 indicates that the wealth effects of public announcement of the corporate capital investment decision are negatively associated with chaebol dummy, log of investment size, Tobin’s q, and they are positively associated with the interaction variable of the investment size and Tobin’s q. The negative coefficient of chaebol dummy suggests that the public reaction is more negative for chaebol-affiliated firms than for non-chaebol firms, after other theoretically relevant variables are controlled for. This supports the view that chaebol-affiliated firms are less likely to maximize the share value and more inclined to take non-positive NPV investment projects. The negative coefficient for INV suggests that Korean investors react more positively for investment projects with smaller investment size. Table 7 shows that the coefficient estimates of TQ are negative but not significant, except in regression model 8 where the dependent variable is CAR (0, 3). The estimated coefficient of TQ may be related to the magnitude of price change prior to the public disclosure. As shown in Panel B of Table 6, the wealth effects of insider information on capital investment decisions for WEALTH EFFECTS OF CAPITAL INVESTMENT DECISIONS 967 # Blackwell Publishing Ltd 2005 q > 1 firms, measured as CAAR ( 3, 1), are 0.634%, while the wealth effects of public disclosure, measured as CAAR (0, 3), are 0.22%. Therefore, the CAAR (0, 3) finding for Tobin’s q may simply indicate that a portion of the positive CARs found pre-announcement has been reversed. The general findings for Tobin’s q are consistent with Burton et al. (1999) who stated that: the market reaction to capital expenditure announcements did not appear to be predicated on this conventional measure of corporate investment opportunities . . . .