Strategic restructuring of firms through investment is key to a transition from plan to market. Using data on … rationed. Given the large volume of non-performing bank loans to firms and the high rate of investment of large state owned and …

In this paper, we examine net investment during the early stages of transition using micro data on the population of … models of investment and test if investment behavior varies across categories of ownership and with the legal status of firms …. Ouranalysis of depreciation leads us to the conclusion that replacement investment displays a similar pattern in many ownership …

firms' investment ratio. Changes in user costs are significantly affected by changes in the monetary policy indicator. In … addition, firm specific balance sheet characteristics, such as the lagged cash stock to capital ratio influence the investment …

In this paper we investigate corporate investment behavior using a large panel of Hungarian firms between 1993 and 2002 …, the effect of user cost changes on investment is significant and robust across several specifications providing strong … evidence against simple sales-accelerator models of investment. Firms' cash-flow proved to be a significant determinant of …

the negative effect of the user cost of capital on firms' investment ratio. Changes in user cost are significantly … lagged cash stock to capital ratio influence the investment behaviour according to the broad credit channel theory. It is …

In this paper we investigate corporate investment behavior using a large panel of Hungarian firms between 1993 and 2002 …, the effect of user cost changes on investment is significant and robust across several specifications providing strong … evidence against simple sales-accelerator models of investment. Firms' cash-flow proved to be a significant determinant of …

The paper builds up a macro function of investment to capture various key determinants and explore the intricate … determination mechanism of aggregate investment. It explicates the basic trend determinant of investment, locates the cause of … investment volatility and identifies the magnifier of volatility, recognizes the sluggish force and its sluggish and …

Investment in physical capital at the micro level is infrequent and large, or lumpy. The most common explanation for … costs make investment lumpy at the micro level, even in the absence of non-convex adjustment costs. When collecting and … behavior results in infrequent and possibly large capital adjustments. The model fits plant-level investment rate moments well …

considered here may affect the sensitiveness of investment to cash flow. Large firms, stock market listed firms as well as firms …

This paper proposes a macro function of investment to capture the key determinants and explore the mechanism of the … determination of aggregate investment. The long-established empirical findings in the field are that investment and output are … strongly correlated while costs of capital have little correlation with investment. They are considered as unsuccessful because …