investment. Uncertainty increases real option values making firms more cautious when investing or disinvesting. This is confirmed … both numerically for a model with a rich mix of adjustment costs, time-varying uncertainty, and aggregation over investment … investment response to demand shocks. This implies the responsiveness of firms to any given policy stimulus may be much lower in …

even after controlling for investment, size, book-to-market and momentum as well as other known predictors of stock returns … forward looking in nature and thus informative about the firms’ expectations about future cash-flows and risk …-adjusted discount rates. The model implies that the investment rate and the hiring rate predicts stock returns because these variables …

This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in … investment or R&D. In identical specifications for British firms, cash flow is informative about investment, although not about … the level of R&D spending conditional on the R&D participation decision. In the UK, we also find that investment is less …

This paper uses a new data-set to examine how internal capital markets and foreign ownership affect investment. Our … data allow us to compare investment behaviour of listed subsidiaries with stand-alone firms while controlling for … investment opportunities of parent and subsidiary firms. We evaluate how the size of ownership and the geographical proximity of …

Policies to support ICT investment are a strategic tool to spur the digital transformation and enhance productivity and … growth. However, while most countries do carry out some forms of ICT investment policy, very little is known on the effects … investment in OECD countries; makes an inventory of ICT investment policies in OECD and selected Partner economies; and reviews …

This report investigates the hypothesis that the real contribution of ICT investment may be masked in official … statistics because intermediate ICT expenditures embodied in non-ICT capital assets are not treated as ICT investment. Based on … detailed SUTs collected in 12 OECD countries, the report presents estimates of indirect ICT investment, i.e. the value of ICT …