Several studies use the investment - cash flow sensitivity as a measure of financing constraints while some others … subject to less financing constraints relative to independent firms.Our results show strong investment - cash flow … investment models and estimation techniques.We investigate this finding further by analyzing the influence of various firm …

local member bank level. We first show that a member bank’s investment (net loan growth) is generally not fully independent …

when the stock price performance is poor: it seems that when the CEOs wealth resulting from their investment goes down due …

impact on the takeover returns. Our country-level corporate governance indices capture the changes in the quality of the … orientation (relative to the target), part of the total synergy value of the takeover may result from the improvement in the … hypothesis states that the anticipated takeover gains will be lower as the poorer corporate governance regime of the bidder will …

This paper considers the impact of investment cost asymmetry on the value and optimal real option exercise strategies … the level of asymmetry, a marginal increase in the investment cost of the firm with the cost disadvantage can increase … socially less desirable outcome than if one of the competitors has a significant investment cost disadvantage.Finally, we prove …

economic environment on the investment decision of the firm.We propose a method to model the impact of a policy change on … investment behavior in which, contrary to the earlier models based on Poisson processes, uncertainty concerning the moment of the …) investment cost, which is, for instance, caused by a reduction in the investment tax credit.The firm has an incomplete …

This paper generalizes the theory of irreversible investment under uncertainty by allowing for risk averse investors in … aversion to examine the e ects of risk aversion, price uncertainty, and other parameters on the optimal investment decision ….We nd that risk aversion reduces investment, particularly if the investment size is large.Moreover, we nd that a rise in …