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 …

Relying on a Constant Relative Risk Aversion utility function, we use panel data for Argentina to compute risk …-adjusted income and poverty measures and to analyze their determinants. Taking risk into account increases poverty. The regression …

networks and require interventions to help them cope with risk …

This paper proposes an approach to estimating the relation between risk (conditional variance) and expected returns in … proxy for the volatility in estimating the risk-return relation. Third, our estimation strategy involves the Generalized …