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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
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
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/10011804416
This paper analyses the implications of corporate indebtedness for investment following large economic shocks. The … suggest that investment of high-debt firms is significantly depressed for an extended period in the aftermath of economic …% higher than that of firms with lower debt burdens. The negative impact of high debt on investment is most evident for firms …
Persistent link: https://www.econbiz.de/10014374338
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
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
firms to contract investment, employment, and assets. The legal reform may distort investment and asset allocation decisions …
Persistent link: https://www.econbiz.de/10012988601
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/10012142085
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