firm's investment is comparatively more sensitive to cash flow, but this sensitivity is negatively and significantly … related with corporate efficiency. These results point to the fact that high investment sensitivity to cash flow may not be … solely driven by measurement error in investment opportunity, but may still be interpreted as a consequence of imperfect …

that this will lead to a dynamic factor model with the dominant unit acting as the factor. The problems of estimation and …

This chapter analyzes the effect of intangible investment on firm efficiency with an emphasis on its software component … differentials in their firm efficiency. The results show that the effect of software investment on firm efficiency is larger in high … technology firms, the effect of the software investment is smaller than the effect of research and development personnel …

affects performance. The second concerns whether the business and investment environment affects the performance of countries …

In this paper, we investigate the effect of real estate prices on productive investment. We build a simple theoretical … framework of firms' investment with credit rationing and real estate collateral. We show that real estate prices affect firms … the second channel allows for heterogeneous effects of real estate prices on investment across firms.We test our …

techniques, we estimate a structural labour market model for each group and evaluate the unemployment contributions of investment …