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 …

developing countries see insufficient investment in projects that would reallocate labor towards better jobs. The concept of JLEs … to (a) estimate the value of the externality and (b) discover the amount of subsidy needed to trigger the private … investment. This paper shows that the optimal way to allocate subsidies to offset JLEs is through a competitive bidding process …

simultaneity between subsidy allocation and the qualitative composition of the innovative output, as well as the endogeneity of … the innovation subsidy; far from 'doing better' as a result of government intervention, supported firms appear to exhaust …

. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other research activities … of market sector spillovers from intangible investment and from public R&D. We find (a) no evidence of spillover effects … from intangible investment at the market sector level, including from R&D, (b) strong evidence of market sector spillovers …

In this paper, we present a simple model in which a unionized and non-unionized firm optimally make investment …

Sharing is a norm in many societies. We present a theoretical model on the trade-off between sharing and investment … patterns: entrepreneurs following an 'insurance regime' comply with sharing norms, are insured but reduce investment in their … firm, whereas entrepreneurs in the 'growth regime' are not insured but take undistorted investment decisions. The choice of …