Buch, Claudia M.; Driscoll, John C.; Ostergaard, Charlotte - 2004
controls have a strong impact on the
degree of underinvestment whereas less political risk increases the degree of over-investment … that an
improvement in risk conditions is associated with increased over-investment. We do not,
however, find systematic …
return on banks’ international investment opportunities as given, and “calibrate” the demand
functions, hence computing …