This paper uses the financial crisis of 2008 as a natural experiment to demonstrate that when measuring investment … investment-cash flow sensitivity, which decreased substantially after the crisis when banks changed their expectations about the … value of assets on firms'' balance sheets. This paper deepens our understanding of firms'' investment behavior …

This paper uses the financial crisis of 2008 as a natural experiment to demonstrate that when measuring investment … investment-cash flow sensitivity, which decreased substantially after the crisis when banks changed their expectations about the … value of assets on firms' balance sheets. This paper deepens our understanding of firms' investment behavior …

boost afforded by the tax and maintain domestic investment-saving equilibrium. The paper demonstrates that spillover effects … from the tax reform are positive in the long run as other countries' exports benefit from additional investment in the …

While expanding public investment can help filling infrastructure bottlenecks, scaling up too much and too fast often … public investment in a large sample of road construction projects in developing countries. Consistent with the presence of … absorptive capacity constraints, our results show a non-linear U-shaped relationship between public investment and project costs …

institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two potential channels: (i …

Firms in developing countries that seek outside financing for investment must often choose their debt … by appropriate policy measures to improve information on profitable investment opportunities and about firms; to directly …

Based on an analysis of high-frequency panel data for U.S. firms, this paper finds that inventory investment has been …, contrary to the finding of Kashyap, Lamont, and Stein (1994) that inventory investment is liquidity-constrained during …