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methods taken to restructure the ownership of state firms, such as full versus partial privatization. For China, a state …-capitalist nation and the world's largest state sector under transition, the mix of state and private ownership -- partial privatization …
Persistent link: https://www.econbiz.de/10013074635
We present evidence that referenda have a significant, detrimental outcome on investment. Employing an unsupervised … policy-related uncertainty. Examining the relationship of these indices with investment on a longitudinal panel of 3 … uncertainty to investment. Our preferred specification suggests that a one standard-deviation increase in Brexit uncertainty …
Persistent link: https://www.econbiz.de/10012834665
firm level investment and high-frequency identified monetary policy shocks. We show that the reaction of firms' investment …
Persistent link: https://www.econbiz.de/10012837618
, the positive impact of a marginal increase in debt on investment efficiency disappears if firm debt is already excessive … banks and investment efficiency …
Persistent link: https://www.econbiz.de/10012906647
their investment more after the crisis. This negative effect is stronger for firms linked to weak banks with exposures to … corporate investment …
Persistent link: https://www.econbiz.de/10012892581
We use the recent financial crisis period to analyse the effect of bank credit tightening on real firm investment. We …, investment falls substantially more in bank-dependent industries …
Persistent link: https://www.econbiz.de/10013009661
We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices … total investment in firms with more intangible assets responds less to monetary policy, and that intangible investment … responds less to monetary policy compared to tangible investment. We identify two mechanisms behind these results. First, firms …
Persistent link: https://www.econbiz.de/10012828075
level investment sensitivity to cash flow is used to identify financing constraints. We find that the sensitivities are … importantly, the cash flow sensitivity of investment is lower in countries with better-developed financial markets. This suggests …
Persistent link: https://www.econbiz.de/10013317411
corporate investment and its financing structure. We identify shocks to overall demand and loan supply with sign and impact … restrictions. Although tightened financial conditions have adversely impacted corporate investment during and after the sovereign …
Persistent link: https://www.econbiz.de/10013324181
This paper investigates the link between corporate debt and investment for a group of five peripheral euro area … countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …
Persistent link: https://www.econbiz.de/10012947848