We develop a dynamic model of trading and investment with limited aggregate resources to study investment cycles …. Unverifiable idiosyncratic investment opportunities imply market prices to play a role of rent distribution, distorting private … investment incentives from a social point of view. This distortion is price-dependent, leading to two-sided inefficient …

be welfare-improving. We find that imposing a penalty helps to improve investment efficiency, but it also brings a … greatest degree, as the benefit from reducing the investment inefficiency outweighs the expected deadweight cost. Otherwise, it …

. Financially constrained firms decide on the level of their liquid resources facing cash-flow shocks and time-varying investment … liquidity and in investment even if technology remains constant, consistently with firm-level and aggregate evidence. These … investment waves are not constrained efficient in general, because the social and private value of liquidity differs. The …

We develop a dynamic model of trading and investment with limited aggregate resources to study investment cycles …. Unverifiable idiosyncratic investment opportunities imply market prices to play a role of rent distribution, distorting private … investment incentives from a social point of view. This distortion is price-dependent, leading to two-sided inefficient …

AbstractPurposeThe purpose of this paper is to investigate whether firm efficiency can explain the investment anomaly …. The investment anomaly refers to the persistent negative relation between firm growth and future risk-adjusted returns … conducts portfolio sorting and Fama–Macbeth regression analyses with three different measures of efficiency and four variables …

of environmental innovation on firm-level investment efficiency. Using fixed-effect regressions, our results indicate … that eco-innovation has a significant and positive impact on firm-level investment efficiency. We show that eco …-innovation raises investment efficiency and reducing information asymmetry enhances this effect. In addition, we show that the impact of …

This paper develops an agent-based real options model, which is capable of analyzing the investment and disinvestment … the model in which the firms can trade permits with each other according to their investment or disinvestment behavior for …

This paper analyses how corporate taxes can affect investment and productivity. To address this question the paper uses … tax rates to investment into the analysis of the impact of taxation on total factor productivity. Investment and … productivity are shown to respond negatively to an increase in the corporate tax rate. These effects are stronger in bigger firms …

analyzes whether product market threats lead to an improvement in investment efficiency. When faced with product market …, the evidence supports the predatory risk of waiting and competition and investment efficiency hypotheses. These results … equilibrium model, we find that a firm increases investment in response to external product market threats. Further, the paper …

We investigate the roles played by unexpected demand shocks, besides productivity, on firms' capital investment and … productivity and demand shocks are both significant factors determining firm behavior, the former is more dominant for investment … productivity, are important factors when analyzing capital investment and firm exit decisions …