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 …

We investigate the investment-cash flow sensitivity of a large sample of the UK listed firms and confirm that … investment is strongly cash flow-sensitive.Is this suboptimal investment policy the result of agency problems when managers with … levels), reduce the cash flow sensitivity of investment via effective monitoring.Finally, financial institutions appear to …

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

This paper revisits the important result of the real options approach to investment under uncertainty, which states … that increased uncertainty raises the value of waiting and thus decelerates investment.Typically in this literature … that investment projects are usually considered to have a .nite life.The present paper studies investment projects with …

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 … the absence of com-plete markets.Until now this theory has only been developed in the cases of risk neutrality, or risk … aversion to examine the e ects of risk aversion, price uncertainty, and other parameters on the optimal investment decision …

which adds flexibility in timing of the investment decision.This flexibility introduces an option value of waiting which …

excess investment.We do not find a difference in the influence of leverage on investment between potential overinvestors and …

is consistent with the pecking order theory: SMEs use profits to reduce their debt level, and growing firms increase …