دوستان امکانش هست این متن رو برام ترجمه کنید.بیشتر میخوام بدونم معنی proxy تو این متن چیه.تخصصی حسابداریه و معنی وکلاتنامه رای رو میده ولی نتونستم با متن هماهنگش کنم
this study gauges firms growth opportunities with the most widely used proxy for growth opportunities, Tobin's Q. I use lagged Tobin's Q (at time t-1) as a growth measure. Since value-maximizing firms are expected to invest as long as the market value of the firm is greater than the book value of the firm, Tobin's Q proxies the investment opportunities shareholders observe, thus is particularly suitable to the objective of this study