Whether they are financial, economic, or psychological, discount rates affect most economic decisions: investment and …

This paper links real investment policy to corporate risk management, endogenizing the costs of external financing … risk management equilibrium. Results are derived under a constraint of no-distress at the time of the investment decision …. Previous literature finds investment efficiency linked to full hedging. In this model, a firm with proprietary information when …

This paper examines how foreign ownership affects the investment decisions of subsidiary firms using a new dataset of … listed-parent - listed-subsidiary pairs.  We find that improvements in the investment opportunities of parent firms have a … negative effect on the investment of their subsidiaries, after controlling for the investment opportunities of the subsidiary …

face uninsurable labour income risk. Idiosyncratic uncertainty about future labour income reduces the marginal propensity …

information that underpin current models of risk pooling. A specially designed economic experiment involving 678 subjects across … attempts to conduct such tests. I find that more extrinsic commitment is associated with more risk pooling, but that more … information is associated with less risk pooling. The first of these results accords with our expectations and assumptions. The …

over the period of 2000-07 is employed for this purpose.  We initially calculate measures of investment efficiency, which …, industries and regions, we find that corporate investment in China has become increasingly efficient over time.  However, based …