data and triple-difference estimators, we find that this dividend tax cut affects allocation of corporate investment. Cash …-constrained firms increase investment after the dividend tax cut relative to cash-rich firms. Reallocation is stronger among closely … and by higher dividends in cash-rich firms after the tax cut. The heterogeneous investment responses imply that the …

The ifo Investment Survey asks firms in the German manufacturing sector about the importance of sales, technological … factors, finance, return expectations, and macroeconomic policy for their investment activity in a given year. We show that … these subjective investment determinants 1) capture economically what their labels suggest, and 2) have strong explanatory …

model features irreversible investment, no capital markets and fixed and sunk costs to export. Several features of the … distribution of investment rates and export participation patterns observed in firm-level data are closely matched in a calibration …

This paper shows that taxes which are understood to be neutral with respect to the marginal investment decisions may be …

implications of the theory literature on this topic in an empirical study of the US cement industry between 1994 and 2006. Firms in … these markets via both domestic production and imports. Consistent with the theory, we find a negative relationship between …

firms' investment decisions. We characterize the conditions under which fire sales occur in equilibrium and their … consequences on firms' investment decisions. We also show that endogenous financial crises may arise in this environment, with …

multinational enterprise regarding the cross border distribution of its investment and the choice of its financing behavior. We …

-enhancing as it increases capital investment. This holds for any tax level and any recycling of the tax revenues except for …

This paper identifies the mechanism through which financial crises exert long-term negative effects on output. Theory ….2% higher today if productivity-enhancing investment intensity had remained at its pre-crisis level …