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investment - results that are consistent with the model's predictions. …
Persistent link: https://www.econbiz.de/10010283384
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10011506547
investment - results that are consistent with the model's predictions. -- investment ; stock market ; bubble ; dispersion …
Persistent link: https://www.econbiz.de/10001936312
We investigate the cost of capital in a model with an agency conflict between inside managers and outside shareholders. Inside ownership reflects the classic tradeoff between incentives and risk diversification, and the severity of agency costs depends on a parameter representing investor...
Persistent link: https://www.econbiz.de/10013136994
-equation model in which firms make interdependent decisions in financing, investment, and distribution, under the constraint that … and debt for R&D financing. R&D and physical capital investment are likely to be complementary for mature, but not for …
Persistent link: https://www.econbiz.de/10013091799
This paper investigates how firms manage their cash savings, financing, and investment when aggregate uncertainty is …, investment irreversibility, and time-varying risk premia. In my model, firms have a precautionary-savings motive and real options …
Persistent link: https://www.econbiz.de/10012983559
accelerator specification of investment demand augmented by the liquidity ratio and a firm specific user cost of capital. The … significant for young firms due mainly to the fact that young firms rely more heavily on sales to increase investment. In general … it is found that firms can reduce the sensivity of investment to their liquidity position by building lending …
Persistent link: https://www.econbiz.de/10013320263
investment by 24.3 to 48.5% during the COVID-19 crisis, compared to 19% during the Great Financial Crisis (GFC). Using historical … faced by corporates between investment and leverage. It also suggests that, should the estimated gap in net revenues … materialise as the result of the crisis, the decline in corporate investment would likely be within the computed ranges. …
Persistent link: https://www.econbiz.de/10012312927
their investment decisions. Moreover, financial con-straints become more severe in times of restrictive monetary policy. …
Persistent link: https://www.econbiz.de/10005802645
In 1867, the "Compromise" between Austria and Hungary laid the foundation of a single currency system with a common central bank. As in todayÂ’s euroland, each part of the monarchy remained sovereign in fiscal matters. Moreover, the borrowing needs of both parts of the monarchy were quite...
Persistent link: https://www.econbiz.de/10005802647